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Considering giving up main job for side hustle.

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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CoBo55

Good use for the nurses uniform..

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

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?

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!

[Deleted User]

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.

Wheety

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

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.

dazed+confused

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

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.

Health11

Deleted User 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.

drunkmonkey

Deleted User 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.

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)

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.

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.

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.

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!

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.

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.

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.

Health11

dazed+confused wrote: »

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.

Health11

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

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').

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.

partyguinness

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

Tefral

Health11 wrote: »

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

Ha your good!!

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.

partyguinness

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

jimmycrackcorm

drunkmonkey wrote:

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.

Tefral

partyguinness wrote: »

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.

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.

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/