For years, people have asked me why I don’t get a “regular job”.
They seem to struggle with the idea that I don’t have a 9 to 5 job and they just can’t figure out why I don’t like getting up early, complaining about Monday mornings, “working for the weekend”, etc…
I could go on and on about how much I love the freedom, the option to set my own hours, the possibility of creating an incredible amount of income, and they would all be really good points.
I really do enjoy sleeping when I get sleepy, getting out of bed when I feel like getting out of bed, traveling when and where I like, and knowing that my income is happening around the clock and around the world.
And I’ve definitely got some big goals. Yes, some of them are related to the type of cars I would like to drive, the homes I would like to live in, the experiences I want to have, and all that fun stuff. Why not?
But let’s break this down to just some good old fashioned “real world” thinking.
If you give any serious thought to what is happening to the economy, the job situation, and what life is starting to look like for people from just about every walk of life, I personally believe that it makes sense for you to be honest with yourself. If you really do the math, I think you will gain a much better understanding of why I started my home based business.
These days, if you have a job at all, you are considered “lucky” by those who are unemployed. But let’s take a serious look at what a typical job scenario is like for most people. We’ll make a few assumptions, such as:
You’re working a job that pays you $15 an hour.
You’re working 50 hours per week.
You’re getting paid for 52 weeks out of the year.
This gives you a gross annual income of $39,000.
With some standard assumptions about taxes which include you being a single person with no children, your tax bill is going to be about $4,000, making your Taxable Income $35,000.
This means you get $35,000 deposited in to your bank account each year and you trade 2,600 hours of your life every year to get that money. That, alone, is a rather sobering thought in my opinion, but let’s keep going.
We need to make a few more assumptions about what it takes to live the life you are in. Your numbers may be more or less than these:
Monthly Rent/Mortgage $1,000
Car Note: $300
Car Insurance: $100
Monthly Totals: $2,500
Annual Totals: $30,000
These numbers do not take in to account anything beyond the very BASIC living expenses! You are literally trading 50 hours of your life every week and chances are, you have more month left over at the end of your money. You’re not alone. If you are paying off a student loan, paying for credit card bills, have a car repair, unexpected emergency, health insurance, doctor visits, clothing expenses, etc… you can see how this gets way out of hand very quickly!
When this sort of math settled in on me while being married and raising FIVE kids, I realized that I needed to do something else and I needed to get started FAST!
So What Did I Do?
I started learning about home based business and discovering how I could leverage my then limited time and financial resources to change my financial picture. For me, it has been one of the best decisions of my life. I’ve been successfully unemployed for more than 14 years. I’ve been able to be present with my family, coaching basketball with my kids, traveling with my family, and actually BEING a husband and father.
I don’t look back on my life and wish I had spent more time with my kids because I was THERE with them throughout their lives. To this day, we are still very close even though they are all grown up, moved out, and pursuing their own life goals. (They all understand and are working on their own home based businesses, too!)
Not everybody starts a home based business to “get rich”. Some folks just want to create some additional income. Some folks just want to set up a “Plan B” in case their job falls through. Others just want to supplement their income or pay off some bills and yes… some of us want to create a life we are really excited about and can afford to live on our terms.
If you see this math and you believe that it makes sense to stay on that same path, then you need to understand that things are going to get tougher. But if you believe that a home based business may be a good option for you, then I encourage you to start your research. Find someone that is successfully building their home based business and ask them to show you how
If you saw the move, “The Pursuit of Happyness”, t hen you may recall that Chris Gardner’s life was changed by asking two questions of a very successful broker:
1. What do you do?
2. How do you do it?
Be willing to ask the questions and then learn the skills.
A home based business may very well be the solution you need.