In a recession loss of income whether by reduced profits from a business or the loss of a job, is a concern of almost every family, but what do you do? Most people worry, complain about their former clients, the company they work for and/or wait for Obama's stimulus plan to in some way replace the job, business or income they have lost. This is crazy, it is as unrealistic to expect the government to fix your personal financial situation as it is older Americans thinking that Social Security will fully take care of them in their later years (or younger Americans thinking that Social Securty will do much at all for them in their retirement years.)
Achievable Wealth at Amazon.com
In my book Achievable Wealth, I discuss the concept of income replacement, which is replacing the income from your job or career with passive income, small business ventures and making money from work that you are already doing. So many Americans have hobbies and interests that take money out of their monthly income that could be converted into a small business venture to increase your monthly income and reduce your taxes by creating legitimate tax deductions.
Bill is a guy that likes working on old cars. He finds a vintage car, buys it, then strips it down to the frame and start to restore it to a like new condition. Bill spends countless hours, spends huge sums of money on parts and paint and then when it is all done what does he do? He parks it beside his other restored cars and takes it out for a drive once or twice a month. Why not sell it? Turn a hobby, which consumes money into a business which generates it? Why not replace the money lost by lay-off's or a slow down in a business from work you already do and enjoy?
Susan is a busy woman that loves entertaining and hosting small parties and "get togethers" at her home. She makes the most amazing food and knows the perfect wine to pair with every meal. To finish off each meal, she makes delicious desserts. Once again, she has a hobby, she enjoys cooking and entertaining, which she spends money on from her monthly budget and with a little thought could be converted into a small business to generate income from work she is passionate about.
Worry and complaining will do little to replace the income lost from a job lay-off or a slow down in your business. It is up to you to replace the income you have lost, no one is going to replace it for you. For more on income replacement ACHIEVABLE WEALTH, by Jeff Smith
http://www.amazon.com/Achievable-Wealth-Retire-Income-Replacement/dp/1438955723/ref=sr_1_1?ie=UTF8&s=books&qid=1246820703&sr=1-1
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