They say that the perks of a job are actually golden handcuffs to keep you there. The insurance, the vacation, the 401k match. Most people think that these are benefits to themselves, but in reality they keep you tied to the job. But what happens when the job turns on you? That recently happened to one of my friends. She did everything she was supposed to. She worked hard, she stayed late, she dealt with the stress of making deadlines. Then the boss told her that she was failing to meet expectations, even though those expectations were never elaborated. Gave her an official reprimand. Unfortunately she had no other source of income. So she had to do what she had to in order to keep her job because she was taking care of her family, and she had to accept the abuse from the management team while she looked for a different job.
This situation is all too common in the corporate world. I believe that most of the companies out there do not care about their employees. They care about their bottom line and profitability, and their employees are disposable assets for that pursuit. Remember that everyone is replaceable. At any moment the company you work for can decide that it is time for you to be replaced.
This is a fairly grim picture I paint, I realize. I think that there is a solution though. If my friend had some income from something other than her boss, she would not have had to accept any abuse and could have just walked out at any time. If she owned a couple rental houses then she could have taken the time to find the right job, she would not be under a crunch to find something to provide for her family.
I believe that depending on a job or a company to provide for you and your family puts you in the same situation that I described above. However with a business that you own and can run without you, then you don’t ever have to be afraid of this scenario. Self-employment is not the same as owning a business. There is a little more security there that no one can fire you, but you can still end up in a situation where your self-employment ends. Injury, losing the lease on your building, changing technology. Without the investment income then you would be in the same situation.
It should come as no surprise to anyone who has been reading my posts that I think Real Estate is the best way to provide this investment and supplemental income. It has the lowest barrier to entry, the easiest access to leverage, and is something that is always in demand. I have talked about this with my friend, though she has been on the map of working for someone her entire life and hasn’t changed her map yet. I hope you don’t have to wait to go through an experience like she just had before you decide to change your map and look into investing in something.
Hit me up on twitter or leave a comment below if you have a similar story you want to share. Or if you want to know more about how to invest and not fall into the corporate trap.
Until next time,
Feel the fear and do it anyway.
P.S. – My friend was able to find a new job that suits her quite well and she has left the old company that put her through this, on her terms, not theirs.