Topic: Food for thought (Read 954 times)

Relying on just one way of making money is not good idea , like having a job with a company or the government, might not be the best plan. Imagine if something not good happens, like the government decides they don't need your job or the company you work for closes down. If that's your only way to make money, life could get tough, and things might not be the same as they were. It's like having all your eggs in one basket. But, if you have different ways to make money, like maybe doing other things on the side, then if one way doesn't work out, the other ways can still help you. It's like having a backup plan so that even if one part of your money-making isn't going well, the other parts can help you keep things going smoothly.

There's an urgency to alleviate the mindset of being an employee without any form of financial backup.So many person's have been victimized and laid off from their jobs unexpectedly which has lead to depression,anxiety and even death.

Presently,everyone wants financial security,but unfortunately,we ought to know that no job will give us 100% satisfaction.Warren buffet once said we should "Never depend on single income,make investment to create a second source".
I think we should save aggressively,invest wisely,work your strength to achieve your long term financial goals while your still an employee

I fully agree with you, the current economic situation is quite fragile and a new major crisis could lead to a global recession. Being prepared for the worst case and having alternative sources of income is a good idea that could save us during the next crisis. Having a side business that generates income for us is a good idea, as long as it doesn't interfere with our main job. For example, in my contract it's written that I need written approval if I want to be employed by someone else. Even if it's just a few hours on the weekend that has nothing to do with my usual work I need to inform my boss. So, in case it's some public work we need to make sure it won't hurt us in the long run. What helped me a lot to generate some additional income is selling older things from the basement of my family. Giving them a small percentage of the profit and clearing out old stuff is enough for them to give me their antiques. Something else where the wife of my best friends makes a lot of money from, is making baby clothes at home and sell them via Instagram.

It's not always possible for someone to have multiple sources of income, but one shouldn't consider signature campaigns a full-time source of income if it's their only one. Signature campaigns these days don't even pay enough for someone to live their life off of their earnings, so I wonder how one can rely only on a signature campaign if they don't have any other source of income. So, one should have a full-time source of income even if they are participating in forum signature campaigns.

There was a time when users used to earn a living through bounties on this forum, I remember how hyped bounty campaigns used to be because at that time, ICOs were very famous and projects used to gain large capital and good value when they used to launch their tokens in exchanges which used to make bounty hunters good money for the tokens they've gathered. However, things have changed now.

I do agree that it is true that you can outgrow that, but the majority doesn't, so the few that does is not the common way. If someone grows up in a poor area, poor family, poor financial situation and a ton of struggles, the odds of that person being a rich person later in life is low, doesn't mean it is impossible, it just means it's low. You look at it, and one out of every 100 kid that lives in a poor area ends up having some money eventually, and a dozen of them make a normal, not rich, just normal regular life, and the rest are still poor, some in jail, some dead before 30 due to drugs, so it is more common to have a bad result.

The most possible way is to figure out how you could both work and study at the same time and go to a college, doesn't need to be Harvard, a community college is just as valid for that life, and make some money on your 20's to make sure you get a decent apartment room, and then it is better for your child who could have a much better life than you had.

OP what you said is absolutely correct, a government or private firm employee is suppose to have other means of either earning a living or generating income for themselves, the way things are going day my day, I have found that the so called salary or wages is no longer enough to carter for the family or general needs, that's why workers should save or borrow money when they are in active service so that you the can open a business with it, if not, if any ugly situation occurs, you will find yourself to be blamed, this life is full of many things and that's why we need to plan before implementing anything, personal business helps in covering of gap when the unexpected happen. 

Who doesn't want autonomy and financial freedom? Cut through the idealism: not everyone is a good entrepreneur. The road is rocky and uncertain. And about employment? Of course, every employee faces the danger of firing. Let's not underestimate the benefits of a stable paycheck. Many depend on a monthly paycheck for financial security, which business can't supply

Your argument about skill, credibility, and network is critical! Today, these are worth more than gold. The construction of these, however, necessitates patience, hard work, and an unrelenting drive for perfection. We must consistently improve, build partnerships, and keep a good reputation. The grind never ends. Continuous learning and trustworthiness are crucial. Remember, this isn't a fair world. The dog-eat-dog corporate world requires constant strategy and foresight. Because we're our biggest asset and liabilities

I think everyone wants to have their own business rather than working with other people, even with a big salary. Because at any time we could be fired or something like that. Having both would be much better without sacrificing one, because with additional income we can allocate it for investment funds.

That's why we need to have skills, credibility and a network that makes us always lucky. Never stop learning, always maintain trust and not violate trust, and have a good relationship with everyone because you don't know which of them will provide an easy path for us.

Maybe everyone will also take it if they have the time to do it enthusiastically and diligently, because the benchmark itself is the income that can be obtained by using free time on side jobs or so-called part-time jobs. However, we also have to pay attention to how much money we can get during that part time, whether it is enough for the time we sacrifice because with every sacrifice of time there must be a feeling of tiredness which we also have to accept happily.

There's really nothing wrong with that, because I also often see factory workers or rough people in various factories who don't have time to do side jobs. This is of course caused by the small amount of free time they have, which makes them unable to do more work except for the main work they have done so far. But they also have to think that a side or part-time job can also help them in life when they no longer have the strength to work in a factory as a manual laborer.

Pressure makes a person sometimes have to take shortcuts to get something bigger (income) which is of course to meet their living expenses, but sometimes it won't always go that smoothly, in any case nothing is easy, many people prefer to work and get a monthly salary as a reward for the sweat they have put into a company and some people choose to build a business with the aim of achieving success when the business can match their dreams someday. But sometimes like I said above that every choice is not the best and that's why there are always difficulties in doing it, so quitting a job and switching to a business doesn't mean it's the best choice to change everything especially financial strength.

All fields require sacrifice and there is nothing instant to achieve success, especially if you prefer business over work, which you yourself have to determine everything, if you have good management and planning in the business you choose then gradually your income is likely to grow but all that is not easy and only the process and sincerity can answer it. So I think it's better to consider again before you leave your job, look for many references from several sources about the business world.

Opportunities do not happen to everyone, hence we can't expect for equal opportunities to all. I believe a lot would really want to have a side business that they can get additional income aside from their day job, but their time and finances do not cooperate. Or they have all the time and money but they don't have sufficient knowledge and skills that will make their business or investment works. The reason why a lot still end up sticking to their first job and continue to work in order to produce consistent flow of income.

Lucky are those who were given good opprtunities to start a business for themselves, because they can be no longer work for others since they are the boss already of their own business. And most especially, their income will never be fixed anymore as they can have unlimited profits every now and then.

Everyone has their own thinking and ability so they decide accordingly. yes not everyone can do business, just like not everyone can do a job. I have seen many people who are doing different businesses and I have seen people who are doing two jobs. Everyone knows about a job that after a certain time he will not be able to do it, but about working for himself everyone knows that he can do it even in old age.

It is not necessary to do any physical work, if you have the ability, you can make the best investment for the future with your best ideas. A job that takes longer does not necessarily pay more. People who have talent can earn as much in an hour as other people earn in a day. It is important for everyone to have a good foundation before retirement, not after retirement, because after retirement you will be able to build on it. No one knows about life and death, but man must always plan for the future.

The job was become the hardest part now, some peopke quit job and start the business for the self sufficient.But after joining the business, they know the real life.Because the huge investment will be the essential one for the business man.The same time business loss their job,So he can't able to back to the job.Instead,they can do business with some technology.So the loss percentage in the business will become the low one.The business man should not get into the habit of taking loan for the business,later he can't wait to see the business interest in the long run.

Maybe try to grow one yourself. I guess that you haven't ran a business yourself since it is still your dream. Your first business has the highest chance of ending up being failed given that you lack the experience in running a business. If your business idea is able to run without spending your whole time with it, try to build it that way. I experience so many businesses that fails because I got my first success in running a business. It's true that you own your time but the amount of time you will be spending on business is much more than your job working hours. That's why I believe that it is good to give all your time into your business if you have saw a potential to it by doing the test runs that only cost fraction of your time.

I agree that it is better to keep your job unless your business can support you fully. It is always better to have a secondary source of income just incase something bad happened to your other sources of income.

Owning a business has always been my dream, regardless if I have a current job that pays me well. It's still different to be your own boss, to be in control with your own time, and to work without being supervised by your manager or boss. Thus, growing a business is the key. Its only hard in the beginning especially if there is tight competition with same businesses in one area, but  eventually you will come to overcome it through your day to day experience.

However, if you can keep your job and your business without compromising the other one, that will be a lot better. It's best to have two heads than one, as the rate of success will be higher.

The truth is not everyone can handle a business properly and sometimes during the process the person end up with loss and no profit so they will have to quit the process, have always love the idea of having multi source of income cause everyone seems to be competing, the idea of the op includes both the low salary eaners and high salary earner. Firstly any job that consumes time will pay high so every normal person will always have this mindset that nothing last forever so definetly he will leave the job some day, the best  idea is to build a source of income or rather invest the money for example real estate investment, bitcoin investment etc cause after retirement if anyone fail to lay a good foundation that person can't survive the economy, if anyone can't manage a business they're other means of earning money.

Today is 26th of December 2023, how many of your friend that are doing white-collar job or work for the government that has set up a business actually succeeded in doing so this year? Let's start from there.

Business is not an adventure you jump into and comes out in flying color, you can give it a try and struggle to bye pass the turbulence and win and you may try it and fail instantly, there is no way about it; that said. If there is economy shake within the area where the business is situated, you will likely sell it and close up especially in a place where inflation has deeped seriously.

What kind of business do you even think a government person can start with when they are not been paid heavy amount, most of them depend on the paycheck to feed their families and pay the rest of the bills. You might say loan is available but it's a suicide to start a business with money on loan.



It's not good to depend on one source of income but that doesn't mean you should run and start a business, some of us are not a business type, some people can only excel when they work for another person and with proper management, they will live comfortably without struggling to pay for basic things. I mean, what's the point of starting a business after  raising large amount of money only to start a business and close it later, that's a loss you might never recover from you know.

Business is good and profitable if you know your way but instead of going through that and don't want to depend on a single source of income, why not do good extra work to get passive income. Why not invest the money into other good investment that will yield s remarkable profits later instead risking everything on business that might not end well.

A part time or side work isn't bad either. If I could make up time for some side work, I will surely take it, as it'll bring me some extra money.

BTW, I don't think a factory employee can pull off such a task. Working two or multiple jobs is just too much of a hassle for him. If it were me, I would have just stick to my old job.

Yes that's right. Indeed, if you study it in theory, it seems easy to do side work, but in practice it will feel difficult because we have to be smart in dividing our time and have to be smart in seeing opportunities that suit our needs. circumstances. Because everyone's job will be different and not as easy as suggested. For example, my neighbor works as a factory employee. Can an employee have a side job? Employees also work from 8 am to 5 pm, not to mention they work hard and of course when they come home from work they will definitely be exhausted. And it's true, having a side job means getting a lot of support, for example, if you get into trouble from one of them, your income will still work. But it's not as easy as turning a finger to get additional work.

Your suggestions are quite interesting, and worth putting into practice if you can divide your time between business matters and your main job. But for me, I only have two incomes, namely from trading and from working. Because for me traders do not interfere with my main job.

Exactly! We should never rely on one source of income. Instead, we should have multiple (if possible) sources of income. Because what if that source of income closes? It's true for the forum too. I know this forum is not a job place. But that aside, many of us are making some extra cash with the signature campaign. But what's scary is that some are totally dependent on signatures. They don't have any other alternate source of income. What if theymos decide to close the signature!? Scary, isn't it?