- Personal Finance
Compare Homebased Business Opportunities to Jobs: Part 1 of 2
Why Start Legitimate Work from Home? - 5 Critical Insights and 5 Common Sense Considerations: Part 1
Continuing to work a job in comparison to finding legitimate work from home often leads your life down a much undesired path. When deciding on whether starting a home based business would be a smart move for you to make, these 5 insights and 5 considerations will help guide you in the right direction.
Most Americans hold to the idea that it would be smart to get a “good” education so you can land your desired career, or at least a “good”-paying job with benefits. We are led to believe that we have a sound economic future with a $50k - $200k per year career that comes with life and health insurance benefits and a 401k plan. We plan on working 40, 50, 60 or even 70 hours per week and don’t plan to retire until age 67. Have you ever stopped to really think for yourself about how undesirable that sounds? I’m sure you have.
When I compare homebased business opportunities to jobs, I group my top 5 reasons why to start legitimate work from home together under a category I call “critical insights.” Why? Because these insights will direct your decisions about what you will do for income toward opportunities that you would not normally consider otherwise. Consider these 5 critical insights:
1. Corporate America pays you for a “bundled package deal” whenever you take a job so you lose every time. Let me explain. Your career gets your time and labor, your resources (car, gas, lunches, home, etc), AND your intelligence (skills/know-how/expertise) – all 4 bundled together for a package deal for that $50k -$200k per year. Four for the price of one is a smart deal but for whom, not you? To turn the tide, you can make it a Win-Win arrangement.
With a home based business opportunity, you have the option to eliminate your taxes and set your own income, so you win. You file a 1099 with that W-2 and at least eliminate your taxes by filing the cost of your resources, because you operate a home business not just hold a job. If you just hold a job, kiss those expenses goodbye. You lose all around – you get paid less than what you are worth and have to pay out-of-pocket to use your own resources.
2. Retiring on a 401K or pension is NO guarantee that your cash flow will not be depleted or STOP one day. In today’s economy, many pension funds are running out of money for various reasons, maybe poor management or increasing cost of inflation. As retirees are drawing down a pension, the funds are steadily running out. With a pension, you are gambling. You are betting on dieing before it runs out, or at the least, living on less and less to stretch it out.
Choose a home based business opportunity where your retirement income amount is replenished every month. Think about that difference – as a pension is drawn down monthly and depletes until it eventually stops versus as residual income is paid out each month, it is replaced and still residual at least until you die. In some opportunities, the residuals can be paid to your spouse and/or children.
3. Open career positions are slim pickins’. Today, there are more people graduating from college than there are available job openings. That will not change much in the near future, if you also throw into the equation the rising unemployment rate.
In the home based business industry, you need to find a company whose product demand is ever increasing, such as in the health industry or green products. There is an ever-rising interest of people trying to find better ways of improving their health. Today our food, water, soil and air are polluted beyond repair with toxins that we consume every second of each day of our lives in some form. The need to repair the free radical damage caused by these toxins we are taking in everyday that’s wreaking havoc on our bodies will never go away.
4. With a job, you leave your children no legacy, no inheritance, and little resources for moving the next generation ahead – How smart is that? In most families, generation after generation have to start back at the beginning economically. We talk about wanting the next generation to do better than us, but we leave them with “what” to do better with.
With a home based business opportunity, you can take on this responsibility and do right by your children’s children. You can guarantee their legacy by getting your children involved in a home business that has the potential to extend into the financial status of your grandchildren’s lives.
5. Income from a job or a pension is not likely to cover the cost of your dreams. You have heard it said, “If you have the money to do it when you are working, you don’t have the time. If you have the time when you retire, you don’t have the money.” So your dreams fade away or become small.
With a home based business opportunity, you can make time and money issues a NON-issue. Your dreams can be your reality, if you put in at least as much effort as you do at your job into your business. However, the critical factor is to pursue an opportunity that can cover the cost of your dreams AND to pursue the one that is actually a dream come true in and of itself.
I believe that our decisions take our lives down the wrong path because we ask the wrong questions from the start. These critical insights should spark some questions in your mind. Consider these next 5 “common sense considerations” in part 2 while you are entertaining those questions: Why Start Legitimate Work from Home? - 5 Critical Insights and 5 Common Sense Considerations: Part 2
© 2011 Louise Campbell-Anthony