Plan B
Wouldn't it be great if we all had youth, talent, time, swagger and wealth on our side? These attributes would aid greatly to increase our odds for a successful lifestyle. Unfortunately, since very few folk possess Kobe's basketball bravado, Chris Brown's electric charisma, Denzel's cinematic charm, or Nasir Jones's poetic prowess, it would probably benefit us all to discover a more carefully tailored back up plan to ensure our own bright futures. From time to time, I allow my mind to drift off onto euphoric mental excursions. My imagination takes me to a place where I am 100% debt free, I own a modest single family home with an enclosed deck and home theatre... plus (just for kicks) I push the new Porsche 911 Targa 4. I envision a world that welcomes me home to a loving wife, 2.5 children and 3 exotic fish. Then just as I lean in to greet my lovely wife and kids with a kiss, my dreams are interrupted by the harsh reality of life as I know it... as many of you also know it.
My life, as it stands today consists of a job and a half. Sadly enough, if my luck suddenly were to plunge for the worse and God forbid I lost my full-time job, I'm ashamed to say that I don't have a solid fall back plan. I think it goes without saying that a brotha would get on his immediate grind with hopes of securing a replacement occupation. Truth is, if something as tragic as that were to occur in my life today, I could not comfortably maintain my current lifestyle for any substantial span of time. I hope for your sake that you are fortunate enough to find yourself in an altogether different category. I pray that if you are in the same boat as me, this blog raises your awareness to the fact that now is as good a time as any to start mapping out a "plan B". Do you have any sound investments, trades that generate additional funds, 401K or retirement funds, savings accounts, or even a reliable side hustle? If you do not have one or more of the aforementioned emergency exit strategies, NOW is the time to lay a foundation that will allow you to establish a nest egg fund. Especially considering the nation's current economic outlook, it would not be advantageous for any of us to place all of our confidence in our full-time job.
The Bush administration has assured us of at least one thing over the past 8 years ... the U.S. giveth and the U.S. taketh away. I'm not a financial advisor, but I do know that it behooves us all to establish a bit of a financial cushion. That good old fashioned "paycheck to paycheck" way of living is played out. Take the time to research alternative measures to supplement your current income stream. Mr. Kanye West said it best "having money is not everything; not having it is". Start planning today for a more comfortable tomorrow and may your proverbial "cup" runneth over in such a way that you'll have room to pour out financial blessings to others.
Corey R.
2 comments:
This is right on time. I found myself having to find "a side hustle". It's almost impossible to work and go to med school and if you're tuition is being funded through research grants, it's actually illegal to work (your tuition will be revoked). Nonetheless, I came across 5Linx and worked hard over the summer. It has been most promising in overtaking that old corp america salary. And the best part about it is, the effort I put into it and the money I make are conversely related. So if I need to take a break during finals, I can. Or if I want to go hard all summer, I will. I'm more than happy to spread the knowledge/network, just hit me up!!!
Great Post Luv,
That is the situation for most people we know and not many of us have an alternative plan. A plan to develop multiple streams of income is what we must all have.
You have made a great start with your blog, (and what ever other hustles you have)... Your next step is to monetize your writing efforts. Add Google adsense to your blogger page, maybe compile a top 10 list, or expand on one of the topics you have covered, develop a guide book. Sell it online through your own website. It's not that hard to do.
I have a couple of websites that generate extra income....still need the main gig but, in time, I plan to fully live on my own terms.
With your permission I would like to use your article on one of my sites.
Regards,
Sam Hawkins
www.magnet2wealth.com
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