There is a new commercial on TV and it is actually from a technical college where someone earned a BS degree and is now able to repair electronic devices. Ho hum until he says, “I just love what I do and my wife says I am not going to work but going to play!” Now that stuck!
That is actually a great way to look at things and is very relevant to the idea that we do best what we enjoy doing. This is especially important with a home business when you are starting out and have a full-time day job as well as any number of family and other responsibilities. Would somebody in their right mind add more to do if it either wasn’t necessary or wasn’t fun?
Being necessary never makes anything fun because we are forced to do it rather than choose to do it because we like it. If you can look at your home business start-up as a hobby and maybe by some stretch of the imagination can enjoy doing the research and etc. that is necessary to start a business, chances are we will be able to achieve something significant.
Of course if we really need the extra money we hope to earn from our new business, it can be a positive motivator. Many home business entrepreneurs start out with ‘extra’ money in mind but secretly plot to someday bring the business to the level that they can quit their day job and fire their boss. Don’t try this at home or at least don’t burn any bridges until you are really sure you have replaced your steady income from your day job.
It’s also a real good plan if you have reached somewhere near retirement age and have some benefits possibly even including social security. It is best to save everything as long as you can and accumulate as much as you can for the day when you are really too old to work. If you can save your benefits and live on what you earn from your home business that is ideal.
This may take a few different turns where for example at first it is the other way around and you support yourself on severance pay, early retirement, pension, 401K, savings, or whatever until you develop a business that is actually producing a steady income. Make this time as brief as possible because again you should be thinking in terms of saving as much as you can for the future when you may really be unable to work anymore but still need to live.
It is a very sad fact that statistically way less people than you would imagine have substantial savings for their retirement. Especially thanks to the last recession many that should be looking to retire are looking for part-time work for seniors. Another recession could happen at any minute so try to be prepared. It is a true fact that many people lost their entire life savings, retirement, real estate investments and everything else in the last recession just 8 years ago. Starting over at retirement age must be really heart-breaking as well as an extremely almost insurmountable uphill battle.