theratracejournal.com

10 reasons NOT to start your own business (according to most people): (more…)

Here are 10 reasons to start your own business: (more…)

Well, even though I haven’t worked out the details, I’ve come to a few conclusions:

• I will never work in a major city again – ever.

• I want to avoid working for someone else, if at all possible.

• I want to start more than one stream of income – preferably a business of my own.

• I want my business to be entirely internet based and not be location dependant.

There is a certain relief from having come to these conclusions. Although I still need to think of specific ways to reach my goals, I now have direction. I know what I want; I just don’t have the details worked out yet. (more…)

The solution to my problem is so simple; I can’t believe I didn’t think of this before.

All the high-wage jobs are in the city – that’s a fact. As a result, the cost of living is sky high also. Because the corporate workers are not willing to settle for less, they accept their situation (high living expenses and excessive commuting).

I’m sure that many would love to live and work outside of the city, but the only jobs available are minimum wage. Again, wages are matched to a geographical location.

Therefore, they opt for the suburbs - halfway between the cheap real estate, low wage rural area, and the expensive real estate, high wage urban area. This is a sweet spot for people because here they are still within a reasonable commute to their jobs in the city.

There are a few that have tried to have the best of both worlds with a place in the country and a job in the city, but not everyone is up to a 3 hour commute. One way or the other, they must pay the price.

I’ve given serious thought to this and have concluded that the only way to truly be free of the shackles of the rat-race is to have an income that is location independent - In other words, an income that does not require that you be somewhere in particular.

Let me give you an example:

In my previous career, I was required to show up for work every morning in the heart of the downtown core at 8:30. If I didn’t show up, I didn’t get paid. So the downside was that, even though it was considered a good job, it could only be performed at that location. My job was location dependant.

The only alternative in the past would have been to lower my living standards, move to the country, and get an $8/hr job.

Lowering my standard of living in the past was unthinkable - but what about now? Could I actually get a job at a local hardware store or stock shelves at the town grocery store? Yes, I think I could, however, these jobs are like gold in the rural areas of Ontario. Most of the locals have got these sewn up for life - They where born and raised there and have no interest in moving anywhere else.

The only way to move to “Small-town Ontario” and keep a roof over my head would be to have a source of income that did not depend on a specific location at all. One that did not require that I be in the city and one that would allow me to live in the inexpensive areas of the province without relying on one of the scarce, local jobs.

So that’s it: I need a source of income that is location independent.

“All the high-paying jobs are in the major cities. This is where you need to be in order to excel in your chosen field.” – My friend, Dave.

Well, generally speaking, yes, that’s true. The greatest concentration of career-based jobs is in the city – and therein lies the problem. Our system is set up so that the very lucrative, high-paying occupations are in the core, and the workers live in the suburbs, within commuting distance, of course. Essentially, that’s what makes the rat-race what it is. (more…)

“Multiple streams of income.”

Robert Allen has written a book that goes by that exact name. While it is a very well written resource for people intent on making millions, it’s not exactly what I’m looking for.

It suggests using the stock- market, along with real-estate investments, as a way to set up your multiple streams. Its main purpose is to help people find ways to generate money – lots of money – so, in a way, it’s kind of overkill for my needs. However, he does have some valuable generic information that I have taken notice of. (more…)

Part of the rat-race mentality is that people should get hired by a company, work, get paid, retire, and live happily ever after. As long as the employee produces, he/she continues to get paid. If you continue to do a good job, the company will reward you with a promotion and more pay. The goal of the wage-slave is to be looked after by the corporation, hopefully increase his/her standard of living over time, and to retire with a little nest egg and company pension.
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Times change, situations evolve, and people move on. There have been a lot of changes in my life in the past year or so. I started this blog as a way to vent my frustration with the corporate world, and to write about the daily routine of a wage-slave caught in the rat-race.

Now, after a year or so, I realize that the job was only a small part of what I needed to “fix.” My lifestyle in general needed an overhaul. I think I’ve managed to steer myself in the direction I want to go, and I know what kind of lifestyle I’d like to have, it’s just that I don’t really know how to get there yet.

So, having said all that, I’m going to change the theme of this blog, ever so slightly.

Since I’m out of the rat-race , so to speak, there would be very little to say on the subject of corporations, office politics, commuting, and the life of a cubicle dweller (well, at least no current views). And since this is a personal blog, and my situation has changed, it stands to reason that the things I write about will change also. Besides, I don’t want to even think about my previous life as a cubicle dweller. It sickens me, to be honest.

Onward and upward.

Yesterday, I met up with an old friend. Dave is part of my previous circle, and the only one that has made any effort to keep in touch. It’s been about a year since we have actually met face-to-face and I have to say that it was nice to reminisce about old times. But at the same time, it all seemed a little shallow.

I was beaming throughout the entire lunch, not because I was happy talking about the old gang, but because I didn’t have to deal with that crap anymore. Nothing had changed, in fact, it was worse. (more…)