One of the more intellectual philosophers (economists) in the West today wrote an interesting piece recently describing how financial independence no longer comes from the old model of go to school, get a job, save for retirement, and trust in social security, but rather from the melding of self-employment with doing something you really love to do. And while this concept has been well documented by entrepreneurs like Robert Kyosaki, it is because of the internet that has opened the door to be able to make money in any genre imaginable.
The conventional financial industry touts gaining financial independence by playing Wall Street's game: working a conventional job for decades to accumulate a chunk of money in retirement funds that Wall Street wizards magically squeeze for hefty annual returns in a zero-yield world--in a completely risk-free manner that keeps your nest egg intact, of course.
However, there is another avenue to financial independence, and it is not so much about retirement--it's about financial independence during your career/working life as well as retirement. The ideal retirement scenario for the self-employed is simply a reduction in the work you don't much like and a continuation of the work you enjoy until the end of your life.
My credo is: Focus not on retiring comfortably, but on working comfortably.
Self-employment is a core mythology of the American Dream --working for yourself as the ideal form of work. Self-employment's place in the pantheon of American ideals did not prepare me for startling reality that a mere 5% of the workforce (about 7.4 million out of 145 million) earn a middle class living as self-employed (i.e. sole proprietors or partnerships/S-corporations with no employees). - Of Two Minds
Charles Hugh Smith goes on to point out six (which is by far not the limit of) different ways one can make a very good standard of living by working for themselves, and outside the employee paradigm.
1. Establishing a profession is one tried-and-true way to be self-employed. Obtaining the diploma and license does not guarantee an income, of course, as competition can be plentiful in certain professions and regions.
2. Owning rental properties is a path to financial independence that works for almost 3 million people/households.
3. Owning the rights to creative content or patents that generate royalties is a ticket to financial independence for 1.25 million people.
4. There are many other sole proprietorships (about 3 million based on the IRS data) that manage to net $50,000 or more annually. Presumably some qualify as Mobile Creatives who cobble together several income streams to generate enough to live independently.
5. Over 10 million people are earning meaningful sums from small (less than $50K/yr) enterprises, rentals and royalties. These don't generate $50,000 a year, but they still make an important contribution to financial independence, income and capital/wealth.
6. Businesses that eventually earn $50,000 or more typically start small, so many of the people currently earning less than $10K/year could over time increase their income or add another modest income stream.
In recent news reports I found two examples of people who took the initiative to use at least one of the above methods to make money without being tied to a job or employer. For instance, one woman took the idea of using the internet and a little marketing knowledge, and with only $500 turned the selling of t-shirts into a $250,000 per year income in less than 2 years.
A second idea, and one that has been highly controversial because of his greed rather than the idea, was a former CEO who purchased an expired drug patent and intends to receive royalty proceeds from the selling of the drug.
Yet there are thousands, if not millions of ways that you can own and grow your own business for minimal cost while not slaving away 8-16 hours like you would if you opened a business on Main Street. People on Ebay have learned to make six figures from selling products made elsewhere by coordinating with manufacturers in Mexico and China, and simply having the companies deliver orders as they come in. In addition, the Affiliate Marketing program that is used by the likes of Amazon.com is a way that people can earn extra income by simply referring others to purchase on that site things they already intended to buy.
And of course there is the burgeoning self-publishing arena, where thousands of people can write a book in Word or other processing software, convert it to .PDF and EPUB for free from software found all over the internet, and sell it on places like Amazon and The Book Patch, which in addition to selling your ebooks, will also publish hard backed books as orders come in, and with no need of inventories.
In fact, for about $8-20 per year you can even purchase a domain name, get a free Blooger or Wordpress blog, find free templates such as the one used on this site, and eventually get enough traffic where you can apply for Google Ads and receive residual income for people coming to your site and seeing your work.
There are literally thousands of possibilities for Americans to become both financially independent, and live the dream of being self-employed. And there is one business model that I recommend, and am a part of that not only provides the opportunity for infinite income, but is a product that everyone loves, buys, and wears everyday in one form or another that could also save your family's financial wealth as the economy accelerates towards the next global crisis.
The opportunity is in a company called Karatbars
Buying gold through Karatbars is one of the easiest things on the net. In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.
And as added perks to signing up with Karatbars, as a customer or affiliate, you can have the power to move your money into a free e-wallet that functions just like an offshore bank account, and is outside the authority of the banking system. From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.
Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet. And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.
But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate. Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.
Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.
How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money? And there is never a mandatory requirement to buy beyond what you desire, on your own schedule. And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.
The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold. And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?
To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.