Risk: Moderate

I’d rate the risk a 2 out of 5 because starting a side hustle as a wealth manager can be risky for beginners, especially if they can't afford to lose money. Here's why: 1. Financial Loss: There are potential costs for licensing, certifications, and marketing that may not pay off if clients are not secured. 2. Time and Energy: Significant time and energy are required to build a client base and establish credibility, which can be challenging without prior experience or connections. 3. Confidence: Failure to attract clients or generate income can lead to a loss of confidence, especially if initial efforts do not yield results. 4. Common Experiences: Many beginners report spending money on courses or marketing with little to no return, especially if they lack a network or experience in financial services. Overall, while it is possible to succeed, the initial hurdles and potential for financial loss make it risky for those starting from scratch without a safety net.