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Considering giving up main job for side hustle.

  • 20-04-2021 2:49pm
    #1
    Registered Users Posts: 59 ✭✭ Health11


    Hi there, I am currently working as a nurse earning 32500 a year.
    Five months ago I started an OnlyFans account. I have built up a decent following on it, and I am currently earning circa 12k a month. The OF work itself takes maximum an hour a day and I enjoy it.

    I am strongly considering giving up my main job and focusing on OnlyFans. The only thing stopping me is the fear that OF may be temporary/disappear overnight for some reason.

    Should I just take the chance and quit my job?

    P.S I have no dependants and rent with others for 800 a month in Dublin


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Comments

  • Registered Users Posts: 5,938 ✭✭✭ CoBo55


    Good use for the nurses uniform..





    Confession, I had to Google O F.
    If ya got it, flaunt it girl:D


  • Registered Users Posts: 1,623 ✭✭✭ Baby01032012


    Could you take a career break from the nursing?

    I’m not sure how long OnlyFans will be allowed to continue and even personally how long can you continue to do that online porn/voyuerism for?


  • Registered Users Posts: 2,974 ✭✭✭ minikin


    Can you take a career break for a year or two and milk the onlyfans gig dry?

    EDIT: Snap!

    Don’t forget to talk to a tax advisor - you’ll need to set aside something to keep revenue happy!


  • Registered Users Posts: 15,162 ✭✭✭✭ KKV


    How does onlyfans work in terms of tax and such? I presume it's all above board or you would be in court the minute you buy anything expensive?

    If it was me, personally, I'd stick with being a nurse. I feel like Onlyfans in general will dry up once there's a bit of regulation of any sort brought in, or when people invariably become bored of it, and once you get known for being on it, rightly or wrongly, I think you'd struggle ever getting a job as a nurse again.


  • Registered Users Posts: 5,376 ✭✭✭ Wheety


    Stick with both. It's a very nice side hustle to be fair.


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  • Registered Users Posts: 4,098 ✭✭✭ Tefral


    Im just wondering would it not be better to keep at the nursing. I dont know your age, but say things like saving for a mortgage (steady income) and maternity benefits that come with Government Job, Pension etc

    Plus you have the career advancement that comes with long service etc.

    Id bank the Only Fans money and pretend you dont have it at all and put it into a decent savings bond or something that will give you a decent yield in 5 years.


  • Registered Users Posts: 950 ✭✭✭ dazed+confused


    PM the link there and I'll take a quick look to see how viable your business proposal is.


  • Registered Users Posts: 25,541 ✭✭✭✭ GreeBo


    If the Of work takes an hour a day then I would do both until I had enough to retire.
    Ok, it means you still have to work as a nurse but it's a nice safety blanket to have while you earn serious coin via OF.

    Can you cut back on any shifts to free up more time? If you drop the nursing it might be a problem to get back into it.
    12K a month is great, but even if OF continues, for how long will you realistically be pulling in that amount? 5 years? Its not retirement territory.


  • Registered Users Posts: 59 ✭✭ Health11


    KKV wrote: »
    How does onlyfans work in terms of tax and such? I presume it's all above board or you would be in court the minute you buy anything expensive?

    If it was me, personally, I'd stick with being a nurse. I feel like Onlyfans in general will dry up once there's a bit of regulation of any sort brought in, or when people invariably become bored of it, and once you get known for being on it, rightly or wrongly, I think you'd struggle ever getting a job as a nurse again.

    Yes its all above board, I just have to declare everything I am earning.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    KKV wrote: »
    How does onlyfans work in terms of tax and such? I presume it's all above board or you would be in court the minute you buy anything expensive?

    Depending on when they started a tax return might be due this year, in trouble if you don't pay your taxes so put away 50%, other than that make hay while the sun shines, sounds like a good gig I'd take a career break from the nursing, surprised a nurse is even asking this, it's a no brainier.


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  • Registered Users Posts: 59 ✭✭ Health11


    GreeBo wrote: »
    If the Of work takes an hour a day then I would do both until I had enough to retire.
    Ok, it means you still have to work as a nurse but it's a nice safety blanket to have while you earn serious coin via OF.

    Can you cut back on any shifts to free up more time? If you drop the nursing it might be a problem to get back into it.
    12K a month is great, but even if OF continues, for how long will you realistically be pulling in that amount? 5 years? Its not retirement territory.

    My thinking is I am making 12k a month on very little effort. With more promotion and time I think I could easily hit 30k+ a month within 6 months.

    (I knew other people in the industry so this isn't pie in the sky stuff)


  • Registered Users Posts: 3,127 ✭✭✭ cruizer101


    If it only takes an hour a day I'd be inclined to say keep up the nursing.
    You'll only be able to OF for so long and might be better to keep up nursing as might be harder to come back to, could you go part time even, easier to explain than a full career break.
    If you are making that much will want to talk to an accountant or some sort of financial advisor, I didn't think you could make that much on it so you must be doing something right there.


  • Registered Users Posts: 7,127 ✭✭✭ Lux23


    I wouldn't give up nursing, but maybe you could do agency work one or two days a week to keep you up to date with training and everything. OnlyFans won't last forever, so I would be using it for a purpose like buying a house so you could have a decent living on a nurse's income in the future.


  • Registered Users Posts: 157 ✭✭ cromelex


    Lux23 wrote: »
    I wouldn't give up nursing, but maybe you could do agency work one or two days a week to keep you up to date with training and everything. OnlyFans won't last forever, so I would be using it for a purpose like buying a house so you could have a decent living on a nurse's income in the future.

    This is the most sensible suggestion.

    Not only it allows you to keep up with training/practice, it means there isn't a gap period on your cv that you would have to explain to a future employer.


  • Registered Users Posts: 26,420 ✭✭✭✭ Creamy Goodness


    Milk this for all it's worth for the next while. If you haven't a home of your own and need/want one, shoot for that. Maximise your annual leave so that you don't burn out and then when the OF money dries out you have a nice house/apartment and you've a steady job and as close to mortgage free as possible. Great position to be in and well done!


  • Registered Users Posts: 14,306 ✭✭✭✭ jimmycrackcorm


    Health11 wrote: »
    My thinking is I am making 12k a month on very little effort. With more promotion and time I think I could easily hit 30k+ a month within 6 months.

    (I knew other people in the industry so this isn't pie in the sky stuff)

    You'd be crazy not to do this. Once a nurse, always a nurse and you can go back to nursing later. Your nursing salary might be low now but you'd quickly hit the top of the scale and then that's it.

    Whereas now you have an easy possibility to earn a huge chunk of money towards a house deposit.

    You don't even have to give up nursing completely, you can register with an agency and do some part-time shifts.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    cromelex wrote: »
    This is the most sensible suggestion.

    Not only it allows you to keep up with training/practice, it means there isn't a gap period on your cv that you would have to explain to a future employer.

    If she starts making 30k a month she won't be going back to nursing ever, that's plenty of cash flow to get involved in other businesses. She's young no point getting stuck in some public service job with a capped & mapped future.


  • Registered Users Posts: 8,204 ✭✭✭ partyguinness


    If it is only an hour a day then just stick at nursing (or part time...locum work is even better paid I believe). You will have a limited window so make the most of it. Plus if you go full time the novelty may well wear off pretty quick as may the punters.

    Do you really want to end up a washed out and unemployed adult entertainer? Just treat it as a hobby on the side.

    Some pics would be most beneficial.


  • Registered Users Posts: 59 ✭✭ Health11


    PM the link there and I'll take a quick look to see how viable your business proposal is.

    If it doesn't go against Boards rules I will happily post it here or PM if necessary.


  • Registered Users Posts: 59 ✭✭ Health11


    Just on the topic, do I have to inform my employers (the HSE) of my OF?


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  • Registered Users Posts: 295 ✭✭ BeginnerRunner


    Tefral wrote: »
    Im just wondering would it not be better to keep at the nursing. I dont know your age, but say things like saving for a mortgage (steady income) and maternity benefits that come with Government Job, Pension etc

    Plus you have the career advancement that comes with long service etc.

    Id bank the Only Fans money and pretend you dont have it at all and put it into a decent savings bond or something that will give you a decent yield in 5 years.

    100% this.

    If you don't already own your own gaff being self employed on only fans will likely make things real hard.

    OF is a new enough platform so it's hard to know how long any one person will continue to be popular for on it.

    And in future if you have a family / partner or whatever you may choose to leave the platform and would be left with sweet FA other than what you've made previously.

    Treat it as a legit side hustle. Work real hard on it. Spend an extra 3-4 hours a day if you have to, like someone starting any other side hustle would.

    The best and worst part of OF is how "easy" it is to make some extra cash without having to work THAT hard (in the sense that if you make 12k a month off an hours work a day, it is fairly 'easy').


  • Registered Users Posts: 3,669 ✭✭✭ Fandymo


    Health11 wrote: »
    Hi there, I am currently working as a nurse earning 32500 a year.
    Five months ago I started an OnlyFans account. I have built up a decent following on it, and I am currently earning circa 12k a month. The OF work itself takes maximum an hour a day and I enjoy it.

    I am strongly considering giving up my main job and focusing on OnlyFans. The only thing stopping me is the fear that OF may be temporary/disappear overnight for some reason.

    Should I just take the chance and quit my job?

    P.S I have no dependants and rent with others for 800 a month in Dublin

    Are you working within the HSE? IF so, could you apply for a career break for a few years? You'd have a safety net if OF did disappear then.


  • Registered Users Posts: 8,204 ✭✭✭ partyguinness


    Lads, be careful. Who says the OP is a woman..


  • Registered Users Posts: 4,098 ✭✭✭ Tefral


    Health11 wrote: »
    If it doesn't go against Boards rules I will happily post it here or PM if necessary.

    Ha your good!!


  • Registered Users Posts: 215 ✭✭ Liberalbrehon


    You are earning 32k a year as nurse plus pension contributions. A nurses pension when you are 67 will probably be worth about 30k a year after 40yrs work. To earn a pension of that size I'd imagine in private sector you'd have to have a pension of a couple million, maybe it's a lot. Most government workers don't realise how much you have to have in a pension to get 2/3rds salary on retirement.
    If you stop the nurse's work how much will if affect your pension, not your current earnings.
    You are earning 12k a month, plus nurse, that is in region of high level executive in large multi-national or high ranking in civil service.
    If you can earn 300k even for a year or two, that is in region of CEO level pay of good medium sized company.
    Basically, you need to go to a good independent financial/tax advisor. Not someone tied to a company who will try to sell you their products.
    You will have a lot of cash, I presume your goal will be to get a large payment for a house or outright purchase it. There is a lot to consider. Will you be able to afford maintenance/tax of a new property? if OF stops. I know the urge for you might be to purchase lots of new things but take it slowly. Don't piss your hard earned money away. What are your family demands, possible future demands? This may be a once in lifetime/short-term chance to gain financial stability. Your expertise is not financial planning. Seek out that expertise. You wouldn't advise someone to treat their own injuries. You'd say go to medical expert. Think on it. Good first step, asking for help here but really, you're not going to get the in-depth help on boards.

    You probably need to think about exit strategy from OF. You could invest cash in stocks and earn higher more or lose it. If you purchase extra property, that comes with headaches. Get help. don't trust anyone though. Remember what happened to Gay Byrne. There are financial con men and women under every stone.

    Don't get addicted to a lifestyle you can't sustain in medium to long-term. It will end in tears.

    Best of luck.


  • Registered Users Posts: 8,204 ✭✭✭ partyguinness


    OP you need some solid professional tax & financial advice to mitigate your tax liability and maximise your returns.


  • Registered Users Posts: 14,306 ✭✭✭✭ jimmycrackcorm


    If she starts making 30k a month she won't be going back to nursing ever, that's plenty of cash flow to get involved in other businesses. She's young no point getting stuck in some public service job with a capped & mapped future.

    OF is like playing in the permit league. There's a finite time to maximize what you can get out of it.
    Health11 wrote:
    Just on the topic, do I have to inform my employers (the HSE) of my OF?

    Most employee contracts have something regarding other work especially when it comes to the requirement to not compete and keeping in line with the working hours directive.

    You'd need to check your contract.


  • Registered Users Posts: 4,098 ✭✭✭ Tefral


    Lads, be careful. Who says the OP is a woman..

    according to Gov.ie 90% of nurses currently working in Ireland today are female.

    Plus, 12k a month? defo female.


  • Registered Users Posts: 1,623 ✭✭✭ Baby01032012


    Definitely don’t tell your employer as it may get you fired given the nature of the OF work and nature of your professional nursing duties.

    Maybe there’s a side line there within the nursing that you could provide some of the OF service to your patients by way of a private extra service. I don’t think private health insurance will cover these extra services.


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  • Closed Accounts Posts: 83 ✭✭ LeakyLime


    Tefral wrote: »
    according to Gov.ie 90% of nurses currently working in Ireland today are female.

    Plus, 12k a month? defo female.

    There are men making way more than this on OF.

    CLaire Byrne had a lad on not too long ago: 60K a month.

    https://www.rte.ie/news/claire-byrne-live/2021/0217/1197675-the-wicklow-barber-who-is-on-onlyfans/


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