The Briefcase Newsletter / Should You Take On a Side-Hustle?

By Fairport Wealth

Welcome to the The Briefcase, a newsletter designed specifically for executives and professionals. Each quarter we will provide helpful advice, tips, and relevant content that we hope will further your successful career.

The Briefcase

Should You Take On a Side-Hustle?

If you’ve ever thought about taking on hobby of yours on as a side hustle, there are a lot of factors to consider, both financially and otherwise. Luckily, our Leader of Executive Practices, Emily Shacklett, offers some insight on how you can best prepare yourself to take on a passion project.

Coach’s Corner

Work-Life Balance & Career Transitions

We all know the importance of having a clear sense of direction and purpose, yet how often do you pause to reflect on yours? When we aren’t living in our purpose, things feel off. However, in the busyness of day-to-day, it can be difficult to pinpoint what the problem is. Often, we play it off as stress or a lack of work-life balance. But without looking deeper, we really aren’t fixing the problem. Sue Hawkes, CEO of YESS!, offers three practices to help leaders stay aligned.

Recommended Viewing

Secure Act 2.0

In 2019, Congress passed the SECURE (Setting Every Community Up for Retirement Enhancement) Act with the intention of improving our retirement system. In December of 2022, President Biden signed into law, as part of this year’s federal spending bill, additional retirement legislation referred to as the SECURE Act 2.0.

Click to watch Wealth Advisor and Tax Practice Strategist Tom Seifert, CPA/PFS, explain these new provisions and how they may affect your retirement savings.

Tech Trends

Artificial Intelligence in Strategy

From Open AI’s ChatGPT to Google’s Bard or the other numerous tools available today, Artificial Intelligence (AI) has been making headlines. While a cautious approach appears warranted, what has become clear is that leveraging AI can potentially provide efficiencies, improve productivity, and help executives make decisions. A recent piece from McKinsey, link below, speaks to how AI can help humans sort through data and make decisions today. In addition, it talks to what advancements in AI may mean for the future. What has become clear is that AI isn’t going away and that executives will need to learn to leverage the AI tools of today and the future.

I-Team Ticker

Check out the latest tweet from the Fairport Investment Team:

Fairport Wealth is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC (member FINRA and SIPC). Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC.

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These materials were created for informational purposes only; the opinions and positions stated are those of the author(s) and are not necessarily the official opinion or position of Hightower Advisors, LLC or its affiliates (“Hightower”). Any examples used are for illustrative purposes only and based on generic assumptions. All data or other information referenced is from sources believed to be reliable but not independently verified. Information provided is as of the date referenced and is subject to change without notice. Hightower assumes no liability for any action made or taken in reliance on or relating in any way to this information. Hightower makes no representations or warranties, express or implied, as to the accuracy or completeness of the information, for statements or errors or omissions, or results obtained from the use of this information. References to any person, organization, or the inclusion of external hyperlinks does not constitute endorsement (or guarantee of accuracy or safety) by Hightower of any such person, organization or linked website or the information, products or services contained therein.

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Executives & Professionals