Cortburg Speaks Retirement

What to Do With Side Hustle Income: Smart Financial Moves

• Miguel Gonzalez, MBA, AIF®, CPFA®, CRC® • Season 2025 • Episode 261

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Earning extra income is great—but what you do with it matters more. In this episode, Miguel Gonzalez, CRC, shares smart ways to use side hustle income to build stability, grow savings, and reach your goals faster.

Cortburg Retirement Advisors is a boutique financial planning firm committed to helping you grow, protect, and preserve your assets from your first job to retirement. We specialize in wealth management, estate and tax planning, group retirement, employee benefits, insurance, and retirement planning to navigate any economic climate.

Miguel Gonzalez, a Retirement Specialist with 20+ years of experience, offers expertise in retirement income planning, investment management, and retirement plan design. With an MBA from Columbia Business School, and professional experience with JP Morgan Chase, Merrill Lynch, and more, Miguel is a trusted advisor for his clients.

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Welcome to Cortburg Speaks Retirement Podcast
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

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Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.


Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   

This week, let’s talk about side hustles and extra income. Many people are finding ways to earn additional money beyond their primary job—but the real power isn’t just in earning more. It’s in what you choose to do with that money.
 
 Before anything else, consider using extra income to build stability. That may mean creating or growing an emergency fund, paying off high-interest credit cards, or catching up on essential expenses.
 
 If you’re carrying debt, applying side income to your balances can dramatically shorten the time it takes to become debt-free. Paying more than the minimum each month reduces interest charges and frees up future cash flow.
 
 Extra income is also a great opportunity to increase contributions to a 401(k), IRA, or other investment account. Even modest amounts, consistently invested, can benefit from compound growth over time.
 
 Of course, not every dollar has to go to the distant future. Side income can also support short-term goals like a vacation, home project, or education expenses. The key is to give that money a purpose.
 
 And don’t forget taxes. Extra income often comes without withholding, so setting aside a portion can help you avoid surprises.
 
 The true value of side income comes from how you direct it. By using it intentionally, you can make those extra dollars work harder for you.
 This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.  

End of video disclosures:
CRC conferred by The International Foundation for Retirement Education.


 Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Private Advisor Group, LLC, a registered investment advisor.
 
 

Private Advisor Group, LLC and Cortburg Retirement Advisors, Inc. are separate entities from LPL Financial.
 
 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
 
 

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

Past performance is no guarantee of future results. All investing involves risk, including the possible loss of principal. 

Assumed rates of return are for illustrative purposes only and do not reflect the performance of any specific investment. Market returns vary and are not guaranteed.

Tax treatment of investment earnings may affect compound growth. Consult with a tax professional for guidance specific to your situation."

 

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Miguel Gonzalez, MBA, AIF®, CPFA®, PPC®, CRC®

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