The Whole 9 Yards

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Posts Tagged ‘multiple streams of income

Do you need to work a full-time job?

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Truth is only you can answer that question.

time-question-blogging-techregion-com

However, I’d like to share information with you about the potential benefits one can enjoy while working part-time instead of full-time.

Since I left my last job working with a NYC agency, I have been working part-time and I must say that I like it. Of course, my income is not what it used to be, but this is a temporary situation. While I have been working part-time I have enrolled in an information technology school where I am training to become an IT Engineer. As an IT Engineer I will be able to assist and answer just about any question as it pertains to computer repair, installation and upgrade all Windows, MAC, and Linux systems. There is no way that I would have been able to take this course if I was working full-time.

Some say that they have full-time bills so a part-time income will not cut it. I understand that, but I have two part-time jobs so money is coming in and I have other “hustles.” Additionally, consider this: Abraham Lincoln said, “It I had four hours to chop down a tree three of those hours would be spent sharpening my ax.” That is why I’m in school – sharpening my ax so that I can chop down bigger money trees in the future.

Upon completion of my training, I will look to take a part-time internship so that I can gain experience and then eventually ease into a career as a contracted IT consultant.

Oh…

Let me tell you about my two current part-time jobs.

I work part-time for two non-profit organizations. One is where I work as a program facilitator with urban youth teaching them various socially desirable behaviors and skills and teaching academic courses in an innovative way using elements of Hip Hop music. The other part-time job is working with the YMCA as a martial arts instructor teaching children and teens Karate and teaching adults practical personal protection.

I’m also started a home-based direct sales business, but I admittedly haven’t done too much with it as of yet. It is documented that the products and the compensation plan work, but you as an independent sales agent must work to generate revenue – of course. I say that with a touch of sarcasm because it amazes me how people complain that they don’t make money in these kind of businesses, but they don’t get off of their butts to do the required work. Perhaps they don’t understand that the only thing that falls from the sky are rain drops and snow flakes – not money.

Anyway, I’d like to share a few resources to help you figure out if working part-time is feasible for you over working full-time.

Here are links to three articles that I think you may find interesting:

Thank you for your time and attention, and may whichever path you choose for yourself, I hope that it yields a bountiful harvest.

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Never Vulnerable Again!

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Hey there, folks. It has been a long while since I posted. I have been caught up with working, being a family man, training in martial arts, and trying to get more fun and rest in. In the past two years or so is the first time in several years that I didn’t have some sort of a side business to supplement my 9 to 5 income.

My 9 to 5 situation has become a little shaky recently after I suffered an injury that has really side-lined me. I needed surgery and all. Now, money is a little tight in my household. We’re getting by, but our quality of life has diminished.

multiple streams

Why am I even telling you all of this?

Not for sympathy and not because I’m going to set-up a GoFundMe page to ask for donations or anything like that, but rather to give you a warning by example to not put all of your eggs in one basket.

That is to say don’t rely solely on your income from your job. Things can change quickly and an employee can be fired for no reason or any reason at all (except if discrimination can be proven) in 49 out of 50 states — Montana being the exception.

I strongly encourage you find something that you can do on the side to create some “cushion cash” in case something changes at your job. Learn from my mistake of becoming too comfortable. As a martial artist and past recreational boxer, I should know that I did in fact violate rule number one: Protect yourself at all times.

I am going to get back into teaching martial arts classes again after I fully recover from my injury. But what I’m really looking to do, is to create passive, recurring income. A friend of mine from Texas, named Esther, told me about a cool side business that I can operate from home. I also have realized that there are numerous tax benefits in that I can write-off a lot of the money I was already spending as classify those expenditures as business expenses. That way, I will get a larger tax return next year. It is sort of like double-dipping in that I am increasing my income and keeping more money in my pocket because I have a smaller tax bill. That is cool.

I’m building a strong fortress that the Big Bad Wolf of injury and lost pay cannot blow down.

I plan to never be vulnerable again!

Please, take care of yourself and learn from my mistake.

Thank about your current hobbies and see if you can monetize it. It will create another source of income and help you stay afloat if something happens to your job.

Thanks for your time.