Risk: Moderate

Starting a financial planning side hustle from scratch can be risky, especially for those unable to afford potential losses. Beginners in this field could lose money invested in training, certifications, and marketing efforts. It's not uncommon for newcomers to struggle to attract clients initially, resulting in financial setbacks. While there are no guarantees of success, individuals may face challenges recouping their initial startup costs if they don't acquire enough clients. Online discussions often mention the difficulties beginners face in building a client base and generating substantial income. I'd rate the risk a 2 out of 5 because there is a significant chance of losing money and time for those new to the financial planning industry.