Why no job is for life

EducationEven Barack Obama knows no job is for life! Not that I was intending to get onto politics.

 

If you turn onto any news channel, be it regular or financial, before too long you will get to the point where they talk about jobs. It will usually be negative, along the lines of real unemployment figures being 3% higher than the reported ones or 40% of people aged 18 to 24 being out of work (I have purposely made those numbers up – to keep it general and non-political).

 

For better or worse, I believe a job is great news for many people and will provide for them. But for some (I’d say around the 20% mark), it’s better to build up income independent of work and then live off this and do what you love, rather than work yourself into the ground.

 

Being employed is a mug’s game. That is sure to offend you, but hear me out.

 

If you’re employed, you pay more tax, may have to work with people you dislike and waste time travelling to work and back every day. Plus I can think of only a few people that really love what they do (to quote Donald Trump – I know I shouldn’t but I am – I’m fired!).

 

I am not advocating throwing caution to the wind and staring your own business, but you could invest. You could learn how to buy a second property and rent that out. You could learn how to buy and sell shares.

 

You could work hard over the next 5 years and create a second income which is larger than your current job and then quit the job and live off what you have earned. You’d make more money, pay less tax and only have to answer to yourself.

 

There are some great books out there on how to invest. Buy books written by credible authors not self-help gurus. And don’t spend $3k (or £3k!) on weekend courses – buy books and get involved with forums. Learn.

 

The school of life is always open. Get in class.

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