Quote:
Originally Posted by jasonn
For me, the goal at the end of the day is a reasonable rate of return for the amount of money invested, regardless of the industry or enterprise.
Honestly, asking a question like this on a forum makes you look pretty naive as if the money were simply handed to you.
Anyway, whatever business you decide, always remember to pay yourself what you think your time is worth. Then whatever money is left over you can consider a return of your investment. You want your money to work for you; you don't want to end up solely working for your money.
So...lots of avenues for your money. Opening and sustaining a business can be stressful and an undue burden on your life especially if you have a family and dependents. Lastly, choose what fits your lifestyle. Do you want to give up a day job with steady pay? A job you can forget about after 5pm? Once you become a business owner it's not as simple.
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Solid stuff here.
I would further emphasize the importance of having money working for you and not the other way around. I'm at the point of finding such avenues that would secure a stronger retirement plan that would go in parallel with my current business.
If I could simple invest more money in my company and receive the same return then it would be the most ideal but sadly this isn't the case. Finding something that yields a higher ROI than my own business is almost impossible for me.