It sounds impossible. You get laid off or fired and become an investor?! How crazy is that?!Well, maybe it’s not so crazy.
Think it over. You have to make a living some way and working at the local “Hamburger Haven” (pick one, but it won’t matter) may take up all your time and still not support you and yours.But suppose you have a 401K or other type of employer supported investment or retirement that you have to cash out or reinvest.Theoretically you can eventually transfer it to another employer supported retirement or investment account.
You can go for a temporary investment account to avoid cashing out and paying the taxes.But you still need income to live and support your daily life.Here’s a reality check.Few people who lose their jobs in this way find another job quickly and whatever they do find usually pays less than they were making.
These include: hard money commercial loans under $1 million (and more), Hard Money Loans With A Bankruptcy so you can snatch a commercial building from foreclosure creating a double win (for you and the owner), and commercial loans where you’re in business less than 2 years, a major hurdle for most conventional financing. While hard money commercial loans aren’t cheap, they can get you going and avoid giving up equity which in the long run you will be thankful for.
Often your best bet is to start some sort of business, preferably something that will produce income fairly quickly.
Starting any kind of business used to be considered very risky, but these days working for someone else is just as risky and ultimately unrewarding, if not worse.
Generally, these days CEO’s keep all the income and value in corporations for themselves and give employees token raises if any.
Then they fire people long before they might have to pay them retirement. It’s not about whether you might be a good employee. It’s ONLY about executive compensation.
It’s only the money.
They want it all. $$$$$!
No sharing and no growing a business. Stock options and executive bonuses are all they want. Employees are an expense they don’t want.
SO, Grow your own.
What kind of business do you want?
What interests you? What do people need?
What will pay off for you and your family?
Sometimes you need to think about how to financially support a growing business. We all work hard when we start a business. We try to do it all ourselves, but the lack of money may strangle the life out of the business. Fortunately, there are commercial real estate loans that you can get with the right amount of cash to help finance the real estate for your business.
Keep in mind, as discussed in the wonderful book, “The Millionaire Next Door” many business people over the years became wealthy through the real estate for their business and not from the business itself.What if you take your 401K and invest it in the purchase of a business.
Suppose you start business and are producing a regular income and use business loans to take it to the next level.
What you are really doing is using this type of financing to invest in your own future.
These types of businesses might include real estate, rental property, medical services, assisted living, other service businesses, consulting, retail, mail order, internet and many other options.Many trades like electricians and plumbers might make a good living through an independent business.
Professionals like lawyers, accountants, consultants and doctors also might have businesses that could be brought to a greater level of success through a commercial Hard Money Loans With A Bankruptcy.
These types of businesses might have some connection to your original career or not. You may have knowledge and experience that you can apply in a new way.
Once you establish a stream of income you may also have the power to boost your business through another investment from commercial sources. See yourself and your business as an asset worth further investment.
It’s the ultimate in investing.