It used to be that going to work for forty years would provide you with enough income to support your family today and a nice pension to support your retirement tomorrow. Those days are gone. Financial gurus today are stressing the importance not relying on a job for your financial security. They are recommending that the best way to secure your family’s finances now and in the future is through a part-time home based business.
Here are five reasons you NEED to start a home business:
1) Jobs are not secure or keeping up with the cost of living. More and more people are being laid off as work is outsourced to other countries or struggling industries are forced to cut back. Further, salaries have not kept pace with the cost of living which is making families poorer! Having a home-based business cannot only help fill this gap, but it can fund your retirement and even replace your income.
2) Job related pensions and retirements are not secure and may not be enough to support you. Many companies are cutting back or eliminating their pension plans. Many don’t offer any sort of pension plan at all. With Social Security in financial trouble, you can’t expect to have the government or your boss secure your retirement. It’s up to you. A part-time home business can help you earn extra money that you can invest in your future.
3) Tax benefits. Please note, I’m not a tax expert so you should always consult a tax professional on your taxes. However, as a home business owner you have many tax deductions available to you on expenses involved in running your business.
4) Money savings. If you are able to bring your business home full-time, you can save huge on the costs related to working outside the home such as commuting, childcare, etc. In fact, many families are able to live better on less income by working from home.
5) Improved well being. Stress, lack of sleep, no time for oneself much less a family are all the result of jobs that ask you to work more and more for less and less. The health implications for this kind of life are staggering with increased depression, heart disease, and more. Adding a side income from a home business can take the burden off of fears of losing a job because if you get laid off you have some income and savings to fall back on. But if you can replace your job with your business, you can set your hours, take time for yourself, spend more time with the family, and be able to take better care of you.