August Mailbag: Taking Maternity Leave, Donor-Advised Funds, & Retirement Funds For Side Hustles

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August 31, 2020
by Chelsea

Why You've Got to Listen to This Episode...

For this episode, we asked the mamas in our free Mamas Talk Money Community on Facebook to send us their questions. If one person in our community has a question, there are no doubt others wondering the same thing.

Today we’re going to discuss taking a maternity leave from contract work, how you can do the most with donor advised funds, why you should open up your own retirement fund for your side hustle, and more!

Moments You Don't Want to Miss

[01:15] How can you plan ‘maternity leave’ from your side hustle and/or independent contractor gigs? Either part-time or full-time gig work.
[03:59] How do you really find your passion when you have no hobbies. Tangible ways besides asking someone what you’re good at.
[07:28] Do you have any tips on working on your passion project or side hustle around your kids needs and schedules while working a full-time job?
[12:55] Can you talk a little bit about donor-advised fund accounts? Are these only beneficial from a tax standpoint for really high earners? Can you designate the types of charities it gives to or is it at the choice of the fund?
[21:03] Is it worth opening your own Roth or other fund if you just do side hustles or work very part time? My passion right now is being mostly home with my toddler son but I love to get out there and work a bit to contribute more. I work several side jobs like Census right now, 1 day a week at a kid’s consignment and I’m a caregiver for my autistic nephew. We have a 403B and a Roth in my husband’s name.

Links & Resources Mentioned

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