Is your time yet to come?
Do you ever feel your time has not come yet, that you are yet to achieve grandness?
You go to school, go to uni, then get a job with a good company, accumulate retirement savings, and use these to do everything you’d ever wanted to during your retirement.
If that’s what you’ve grown up expecting you may be in for a big surprise. Only 5 people in 100 who follow this route can look forward to a comfortable retirement. People simply don’t put enough away for retirement.
That means a whopping 95 out of 100 hardworking people who try to follow this route are going to have to rely on inadequate pensions, social security, and family assistance to live out their golden years. Not a happy picture.
Just take a look in your community to see how few retirees are financially independent. If you know any that are truly financially independent then you’ll probably find they did it on their own.
So, if you want to want financial independence what are your options?
You could pray that you’ll be one of the 1 in 180 million people who hits the lottery or you could inherit a fortune when your aged maiden aunt checks out. Another way could be a life of crime, but I warn you that your chances of reaching retirement age, let alone enjoying it, are really slim.
In reality there’s just one way you can ever be financially independent..
You have to do it on your own.
Many people are no self-employed, or part timers, and they just don’t save enough, or anything at all.
Self-employment as you get older, increases.
So what is stopping you prepare for retirement, maybe you just don’t feel you can run your own successful business, but I think you can.
Many people I hear say “I’m not smart enough to run my own business.”
But most successful businesses are run by people with vastly different capabilities. Running your own business is about solving people’s problems and not about how smart you are.
Then I hear “I don’t have the time to start a new business or second income”.
People have time, they simply lack discipline. Unless you’re already working 80 hours a week, you can probably find time to start building a new business. You’ll probably need to find 2 hours a day (14 hours a week) to successfully build your business but its really about organising your time better.
I often hear people say they don’t have the money it takes to start a new business.
The cost of starting a new business isn’t always that expensive – certainly less than buying a new home.
When I hear people say that someone is already doing what they want to do, I just think oh dear. Of course someone else is doing it, you have to do it better is all.
Of course other people are already doing the same thing but that’s true in the real world too. Just do it better. If there aren’t others doing the same thing you probably can’t make money out of it. Competition shows that there is a market for your product/idea.
Maybe this isn’t your first time starting out in a new business, but doesn’t mean you should give up. Your oast failures are from chasing different business opportunities, instead of building your own business from the ground up.
The greatest lie is there is that there is nothing out there for you, but there is, you just need the desire and discipline.