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

#063: 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, and why you should open up your own retirement fund for your side hustle. (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.  Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/63  Discover Your Passion Project Workbook: https://smartmoneymamas.com/passion-project-workbook/