I am hearing more and more from people that their income is not going as far as it used to. That they are being taxed to even greater amounts than ever before. And there are no more hours in a day to work over time. And then if you do work over time the government gets more of it than do! This story I am hearing from younger and younger people. It is cause for great concern. Where is our standard of living going? Are we to trade every waking hour in the pursuit of the all mighty dollar just so we can hand over an ever increasing portion to the tax-man? There has to be a better way. There just has to be! We cannot be expected to accept this life of endless toil. I have seen what was happening to me and my so called disposable income, and I can’t help wondering and worrying about how my young adult children are making itn never mind the ones still at home. I just knew there had be something more out there, something better. Well there was.
I thought business was the key, so I tried my own new home construction company for a lot of years, I kept telling myself again and again so that I was actually thinking that next year is the year it really turns around. What I found with construction was a feast and famine industry. So then I thought, ah ha, retail that is the game that makes the real money. It did ok, worked it for about five years made some decent coin, then it plateaued. I had to either be happy where I was or invest large money into a second store in another city and work hard for maybe three years till that store started working nicely. But with the additional overhead and stress would the override I would receive be sufficient? I didn’t think so. You see I did that in construction; got a second crew going, it didn’t justify itself there either so I didn’t think it would be any better in retail either. So I looked into a franchise. I mean franchises are the turnkey success business model right. I didn’t have a couple million dollars to spend so the big ticket franchises were out. So I picked what I thought was a good concept and would fit in my community and something I could start while still running my retail location. It worked out pretty good, I have way less overhead, virtually no stress and I am making some pretty decent coin. So I got out of retail. People might think lucky you, you have done it. But its not quite there yet, you see it is dependant on my efforts. If I want a holiday I have to find a driver I can trust with my truck and then I still worry about my business the whole time I am away.
So I started looking at the people I know who have the lifestyle I wanted. Money coming in on a consistent and regular bases. It was not solely dependant on their efforts. They could be free to do things, during the day even. Always seem to have a few dollars to spend travel a few times a year, drive more than one nice car, maybe have a couple of nice houses, one in the city one on the lake. A few of these people had large business’ that had lots of managers and staff so the work was always being done and enough of it that they could take there share and have freedom. Somewhat, as even though they had all this in place it was still all riding on one business so they were ultimately responsible for it, and therefore they had the pressure to make sure it was always working. And the other downside was it generally to them 25-40 years of hard work to get to that point. What if you made that choice and it just never got quite big enough, then what? So in that model not everybody wins. And even the winner has to make sure it endures. Not quite the model I wanted.
I want something better yet! I wanted income streams. I know people that have those and they rock. An income stream is something …..
To Be Continued…….;