When you think about retirement is your exit strategy clear? The best time to plan is now! Early retirement planning is essential if you’re not planning to work forever. The biggest question about early retirement planning is what to invest in? Most companies have some variety of retirement benefits to give to their employees. I’m sure your familiar with them, (401(k), 403(b), Roth-IRA, Annuities, etc), you’ve heard of them all. Those are great ways to fund your retirement if you plan on working for the next 30 years, but if you’re like me you want to get out of there ASAP start a business. I guess my real question to you as the reader would be, how soon are you looking to retire, 30 years or the next 6 months? A 401 (k) is a great retirement plan, but you have to work years to reap the benefits and there is no sure guarantee that you will see you’re a full return on investment. Can you imagine being 65 years old getting ready to retire when you look at your 401(k) account only to see that it lost half its value over night, what are you going to do? It’s sad because this is currently going today?
The only way to survive in this economy is being in the right position, financially speaking. That same money that you would invest into a 401(k) (someone else company), you could invest into your own business. Many are scared to invest in a business because they see it as risky, and see a 401 (k) or the like as the safer route. I am certainly one to say there is more safety in investing in a 401 (k) then starting a business. If you are looking to go the safe route then you should invest in a 401 (k), but if you’re looking to get rich and retire early start a business.
Let’s be clear, starting a business does not mean you’re going to get rich over night. If that’s how your thinking then you need to change your mentally. In business there risk that need to be addressed, issues that need to be resolved, goals that must be accomplished. One who is going into business should be willing to go all out for the success of the business. An ideal business would be one that requires less work as the business that grows exponentially. This helps to achieve what is called passive income, which means that you no longer have to physically work to generate income. Right now there are 21 year old millionaires out there who are set for the rest of their lives because of a business they started or some work that they did. Who needs to work for 8 hours a day for 30 years to make a set salary when you have the options to start a business and build massive income?
Being that we are in the information age the internet has brought the possibility of owning a business that’s completely based online. This eliminates overhead and employee cost that come with a traditional business. What this means for you is bigger profits on your bottom line. So imagine being able to generate thousands of dollars from an online business doing way less work then you would at your normal 8 hour a day job. Would you still be so willing to work 30 years on a job and invest in a 401 (k), or are you looking to create wealth with an online business and finally fire your boss? I think the choice is pretty clear and quite obvious, but it is on you to make the decision.
Hello, my name is Jabril Jones and my goal is to show others how to create wealth. Feel free to contact me.