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Visit our on-line store for related books and products Work Hard and Reap the Benefits One of the biggest pieces of the puzzle to find you on the road to becoming financially secure is the job of finding the right job. Think outside the box. You are the only one that has control over what you do and what you want out of life. Where to work?  Many people work in jobs that do not provide good benefits like health insurance or a saving plan. Fewer and fewer employers are providing a pension plan 401(k) or both. So what do you do? We suggest that you look to see what employers in your area provide these. Then see if they employ people with your skills. If not, are there jobs that you could train for and keep or improve what you now make. If so, this may be the way to move closer to your goals.
The location where you live and work can also make a tremendous difference. By taking, a job in the south or other area where the cost of living is less can work to your benefit. As many retirees have found, by selling your home in the north and using this money to purchase a home in the south where prices are much lower allows you to have a larger home or to use this extra money to help finance your future needs. While pay scales are lower, in many cases, things equal out and the overall difference can be small. We would plan and time such a move very carefully. Remember to do your research, it does not cost anything but your time.
Who should work? Many families struggle with this question. I can only say that my wife and me always both worked and our family was stronger than most, because we worked as a team. The second paycheck is really, what made the difference for us. Without it, we could never have attained the lofty goals we set for ourselves. This money also provided the extras like:
- Money to take nice vacations.
- Provided for the after school activities for our kids like football and gymnastics.
- Allowed us the ability for weekly night out at the movies.
- The money for a boat to get away in.
- The ability to know we could be saving and have a good enjoyable life to.
- Money for my wife to do her fun shopping.
- Money for me to pursue my interest in computers.
Everyone has to make these difficult choices. If done right and both life partners expend the effort in the child raising, both can work and have a very healthy family at the same time. My daughter has just started working now that their daughter is seven and I can assure you that she and her family will be better off in the end.
What about a second job? This can be the answer to providing that extra income you need to reach your goals. Many newspapers are looking for carriers to deliver papers. The hours are early mornings and can fit most schedules to work a regular job. How about real estate? Do not let a potential job be beneath you. The money is still green and the extra savings it can provide is what really matters. Should you own your own business? Having your own business cannot only provide extra income, but can provide many tax benefits. You may be able to deduct things that you use in your business like: car expenses, computer, office supplies, telephone, and a portion of your utilities if you have a home office. A business allows you to be in charge and make the decisions about your future.
In choosing, select a business that has minimal start up costs. Ones you can start up quickly and inexpensively then grow as you can afford it. Below are some examples, but remember, think outside the box.
- Yard maintenance and landscaping
- Car, truck or small engine repair
- Appliance or computer repair
- Consulting services, using the knowledge that you have to help others
- Buying goods at garage sales and selling at flea markets or online at EBAY.
- Pool cleaning services
If you start your own business, please check into incorporating as it may offer significant advantages. Subchapter S corporations allow you to draw a salary and set up tax deferred retirement savings plans like SIMPLE IRAs, SEP-IRAs, and self-employed 401(k)s.
References:
Below are books and web sites related to starting your own business. We state throughout the site that you should not rely on any one information source when it comes to your financial health. Please use these tools and references as they can give you another perspective and more detailed information. To assist you we have included links to amazon.com so that can purchase the books we believe can provide you that perspective. Just click on the image, link or button.
Books: Use the link below to find more information on getting started.
Visit our on-line store for related books and products Websites:
The following links are provided to provide different perspectives and additional information only. This is not intended as a reccomendation or that we aggree with all the views and content on these sites. Fidelity Investments - fidelity.com The Vanguard Group - vanguard.com
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