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Sunday, January 4, 2009

Escaping the Rat Race - 5 ways to make money to quit your job!

Posted by patrick

By Hayley Weatherburn

Life is for living right? So why is 90% of the world stuck working 40 - 60 hours a week, in a job they can bare - just to be living pay check to pay check not making enough money? It doesn't seem fair that we are given restrictions on when we can see our families, when and how much time we can have on holiday or be restricted to a pay rate that suits the company in making money - not so we can enjoy life!

5 options to mull over and weigh up which will be your vehicle out of the rat race:

PROPERTY - It is important here to do the research. As the media portrays, they believe it is not a good time to invest. I say, why not - prices are down and, like after every economy crash, the prices go back up and higher than before. To ensure you make the right decisions for you though - it is good idea to talk to property investors, real estate agents and research. A fantastic book on it is "0 to 150 properties in 3.5 years" by Steve McKnight. It shows you many different ways to invest in property, in an easy to read format.

STOCKS - Ouch - you mean now, when it seems so volatile. All i can say to this is read the article "Buy American, I am" in New York Times, by Warren Buffet. One of THE most successful investors in the stock market and he is investing - he must know something. Again research, speak to other brokers and investors and find what is best for you! Right now could be your chance to shine in this area.

START YOUR OWN BUSINESS OPPORTUNITY - Everything you see around you - the objects, the businesses and the relationships - began as a thought in someone's mind. What gem is in your head that could bring you freedom and wealth? The best thing to do is start writing down your ideas, when something sticks -research it's possibilities, the competition and so on. Ask people for their thoughts and ideas, it will evolve as you evolve. A brilliant book that will make sure you create a business that works for you, rather than you work in the business - "The E-Myth" by Michael Gerber.

FRANCHISES - If you feel that building your own business is too much of a risk, but still like the idea of having a business, Franchises are another great way to go! With proven systems that work and have proven profits, what more could you ask for. They often provide guidance and support through the whole way. One thing to keep in mind with franchises however is that you will need a substantial amount to invest with. Banks will probably lend you business loans for a franchise more so than an unproven business. Pick your franchise, check it aligns with your goals and also values & beliefs and you are on your way!

HOME BASED BUSINESS - now a day with the internet easily available anywhere and phone coverage is wide and cheap - a business can run from almost anywhere. These businesses are ideal for those stay at home parents. Also for those people who want to be able to travel with an income, or even just those that want to live their own lifestyle and fit the business around that. There are A LOT of home based businesses around these days, it is a good idea to find out all you can about the business, research them more on the internet, check they are legal and then once it fills your criteria of creating a lifestyle you want - then go for it!

So, which one? Read each of the titles again. Ask yourself - which one feels right, or sounds good to me? Pick that one to start with. You may find gold the first time, but don't be discouraged if you don't - I definitely didn't and I tried practically all of them before I found my vehicle to freedom. Learn from the mistakes, and reward your successes - enjoy the journey and it won't be long until your lifestyle of choice will be a reality.

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