Not long ago my friend was fired from her job of 15 years.
Her pervious company was bought out and the new owners
wanted her out because her income was too high. Fired. No
severance pay, nothing. Her son is in college and her
daughter is still in high school. She has no college
degree, so major corporations don't want her. What good
would they do anyway? I have seen it time and time again,
there is no security working for some one else. They pay
you just enough to get by. Then they either pick up shop
and leave town, sell out to another company or by what ever
means, say, "Good bye. We don't need you any longer." How
many times has your bank changed names? Someone loses a
job. Often times, a lot of someones. Is your job secure?
Are they paying you enough or just enough to make ends
meet? What about your retirement? Are you going to have
enough to live on when that time comes? Or are you going
to be like 90% of the population surviving on Social
Security Income? Will Social Security Income even be
available when it's your time? Are you going to have to
work full time like many people I know into their seventies
and eighties?
Sure you could cut back, limit your liability, quit going
out, buy the cheaper cuts of meat, eat more rice and beans,
(not a bad health idea), get a second job, buy a used car
omitting car payments and costly auto insurance. There are
a ton of things you can do to reduce your monthly expenses.
Even with all those cuts are you going to be able to put
enough money away to have a comfortable retirement? Are
they fun? Not really. After working 40 - 50 years to have
to retire on next to nothing is more than heartbreaking.
Most people want life abundantly. They want it all. Why
do people play the lottery? They want it all, now. The
lottery is nothing more than wishful thinking for most.
Sure a few win, will you?
I'm sure you have been told by more than one person to pay
yourself first, and then pay the rest. How can you do that
when you don't even have enough to pay the rest each month?
OK. Let's say you are able to put money away each month.
Bravo. You are one of the few. However, will it be enough
to live on at retirement? I don't know. Say all goes well
in the markets you've invested in, will it be enough? What
happens if the markets you are invested in fall? What then?
I'm sure you are well aware of the fact that most
corporations diversify. By that, I mean they don't put all
their eggs in one basket. They have several streams of
income. That seems to be the best bet these days. Don't
go quitting your job. It pays some bills, buys some food.
Better yet, try an internet business to supplement your
income. Become good at it. Take the profits from the
internet business and reinvest back into your own business.
Then, when you are comfortable with it and your income
from this new internet business is exceeding your regular
paycheck, then you may wish to leave your regular job. But
don't go quitting your job until you can replace your
current income.
I personally started a business when I became unemployed
myself. I used credit cards to fund it. Not everyone is
comfortable doing that, however. It didn't take long,
about a month, before it started developing a nice income.
I reinvested my profits back into my own business and
before long, I became self-sufficient. You can too, with
the right coaching and system. You must first take that
initial step and look in to it. There are many internet
businesses to get involved in. Just find one that you are
comfortable with. One that fits you.
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