A 28-year-old man makes $113,500 per year with just $50.

Welcome to Modern-Day Millionaire

Today, I want to share a story about someone named Carter Osborne, who, about six years ago.
 
In 2017, found a unique way to make some extra money for his graduate school tuition.

You see, Carter realized he was pretty good at writing, and he decided to use that skill to his advantage.
 
But here's the interesting part: Carter discovered that he could get paid for helping high school seniors with their college admission essays.

You see, back when he was applying to Stanford University in 2013.
 
He had someone review his own personal statement, and it made a big difference for him.
 
So, he decided to offer the same kind of help to others.

Carter started this side gig with the plan to stop after finishing his master's degree in public administration two years later.
 
However, he soon realized that he really enjoyed assisting young students with their essays, and it was also quite profitable.

Read: Zero to $6 Billion: Old Money Billionaire

By 2021, Carter had worked with 40 clients and earned $113,550.

Even though he had a full-time job as a public relations account director.
 
Carter continued his side hustle, which only cost him about $50 to set up online accounts.
 
He even used the extra money he earned to buy a house with his girlfriend in Seattle, Washington.

Now, I won't sugarcoat it; juggling two jobs was tough, especially during the busy application season from October to December.

Carter sometimes worked up to 70 hours a week, and he had to say goodbye to his social life during that time.

But when asked if he thinks his side hustle is something others can do, he believes it is possible.
 
He suggests finding a good mentor who knows the ropes or seeking guidance from school counselors.
 
It's important to understand the ever-changing admissions process and how to help students without crossing ethical lines.

Carter's approach is to brainstorm ideas with the students, record their thoughts, and ask questions to help them think deeply about their experiences.
 
He doesn't write the essays for them but offers guidance based on their input.

And what about work-life balance?
 
Carter admits that he didn't have much of it during the peak of the admissions season.
 
In 2021, he felt burnt out and noticed his focus slipping.
 
However, he made a change this year.

He started doing his full-time job during the day and dedicated his evenings to client meetings.
 
This allowed him to have weekends off and take much-needed breaks.

In conclusion: Carter's story teaches us that with the right skills, mentorship, and dedication, anyone can turn a side hustle into a successful venture while still maintaining a balance in life.

Thank you for listening.