Is Your Job Secure in This Recession, and What is the Solution?
Tuesday, September 1st, 2009
“If you know where you are going, any road will take you there. If you do not know where you are going, no road will take you there”, said a wise person. This quote is very relevant to your quest for wealth and financial independence.
Even if you are still working maybe it is time to consider getting another source of income, it makes you feel a lot more secure. A few of my female friends have expressed a desire to downsize to part time or even replace their jobs completely. Allowing them to spend more time with their children and family generally, so change is not always a bad thing.
Why is it important to have a wealth-building plan in the first place? If you live to a ripe old age, as we all wish, a time will come when you will be either too old or too sick to work on a full time basis. However, you will still need to pay for life’s necessities and for other activities that will occupy your time.
As a beginner it can seem daunting, so much information, so many offers, what you need to do is get some real advice from friendly people who will support you on your way to replacing that wage. Then once you have gotten comfortable will help take you to the next step of fulfilling all your ambitions of giving yourself a secure long-term business.
There are 2 places you ought to be thinking about – pre-retirement and after-retirement. It is easier to plan about pre-retirement because you know your current financial situation, earning ability and preferred lifestyle.
Is $50,000 per year good enough for Joe? That is up to Joe to determine. More importantly, what is your FIN? I mean your Financial Independence Number? This is the magic number that will determine how good your retirement lifestyle will be.
Some debt is good e.g. house mortgage and education loan. Just make sure the interest rate is fixed and payments are affordable. Remember to shop around for the lowest interest rate and the shortest payback time.
Whatever you choose to do, whether a home based business or a new job and career, you must do it with all your might.
Peter Werth is an expert MLM Home Business Opportunity distributor. Visit his website for insightful MLM Home Business Selection Advice today!
