Is This It?! Three Thoughts…..

So, here we are….Week 3 of 2019! The year is off and running!! Yes….many are moving forward successfully with their goals and resolutions. Yet…..many MANY others may have hit a speed bump.

It is interesting, next to getting healthier (losing weight, exercising, no alcohol, etc.) ….saving and making more money is a close second. I get it! Many have ‘lived beyond our means’ in the past and find ourselves paying down debt. Others have college tuition, home repairs, and a myriad of other projects to fund. Others are just not ‘getting ahead’ (their words)….and are not sure what or how to accomplish their goals and create their dreams.

I have many folks in the past 2-3 months who have been laid off from their jobs  – some due to the job and/or talents being a ‘bad fit’, others due to budget cuts in their company, and of course, there is age discrimination (and don’t think there isn’t – as trust me, there is – and I have numerous clients who hit 50+ and immediately were downsized. Yes….it HAPPENS). And, being ‘laid off’ is not always a bad thing – it can be the gift of being redirected! Regardless, they are not sure what to do now. And still there are others who are irritated at not getting the raise they wanted at the end of the year. Others just flat out don’t like what they are doing and see no ‘potential’ in the role, yet are ‘handcuffed’ as they have no clue what to do to get out of that fix.

So, if you are one of those – or perhaps you have your own realization that where you are and where you are heading is not where you want to be….or where you want to go. You may be scratching your head thinking…..‘what next’?!! How can I augment my current job OR how can I better position myself for retirement?

Well…..I can help. That is what I do. One size does not fit all – I help you decipher your options AND determine what is best for you – at this particular time in your career and your life. In the meantime…..here are a few thoughts to get your juices churning:

1. As the familiar quote says, “doing the same thing over and over and expecting different results is insanity”. Yep….like it or not….there is some truth in that. That is why we ‘shake up’ and diversify our exercise routines when we aren’t. That is why we invest our money in various places – not all in one stock. The same is true with how we spend our income producing efforts. Let’s face it- the digital marketplace and social media has completely shifted the way we shop, compare, and yes – make money. So doing it the ‘same old way’ is simply folly – and will not deliver the results we need and want.
2.  The days of one job – or one way of making/keeping/expanding money – are over. That approach was actually never valid, sustainable, or ‘The answer’. Even my parents and grandparents had multiple revenue streams. This could be in any form: investments, rental properties, oil and gas royalties, book or syndicated column royalties, passive income from subscription services, or even having what folks today call a ‘side hustle’. What I know for sure, most millionaires have a minimum of seven – 7!! – income streams. And yes….many are passive streams of income – where the payment received is not directly tied to work. Sure, interest and dividends from investments is one huge way….yet, that is NOT the only way. And don’t think that passive income means NO WORK – it just means it was ‘front loaded’.
3. Accumulating wealth is the key to a worry-free retirement AND a worry-free mid-life when you are putting kids through school, etc. How do we do this? A few basic ‘chop wood and carry water’ tips: a) Sell your time, goods, services for money b) Spend less than you earn (aka: live beneath your means) c) Invest wisely – think WAY beyond the stock market. Think real estate, private equity opportunities, etc. d) Create passive streams through new business models and additional businesses. Yes, I know many of you are thinking –well, I have to have money to make money….and that is not always the case. The new world order is ‘online’….and there are MANY ways to expand your reach AND your revenue streams through this approach.

If you are curious…… If you are wondering ‘Is this all there is?’ or ‘Is this the only way?’….. If you dream about another way to add income to your portfolio….reach out to me. Two things I know for sure: we get nowhere alone – we need a posse of people to help, support, brainstorm AND portfolio revenue streams is the reality and our collective future. Let’s explore, build, and thrive together.  Just comment below OR reach out to me at: kristinkaufman@alignmentinc.com. We will navigate this together!