Yahoo is featuring an article by the first lady of money, Suze Orman today. She cautions against many mistakes I have already made and a few I have not tried.
Because I love my primary calling/work as a pastor, I am never tempted to take an early retirement to follow my business sub-passions. However, I know many who have traveled that path. To them, the old adage, "Don't give up your day job" is not meant as a discouraging word - They are seldom heard at this home on the range.
Back to Suze on self-employment reminded.
Good advice all around from America's premier financial advisor.
Because I love my primary calling/work as a pastor, I am never tempted to take an early retirement to follow my business sub-passions. However, I know many who have traveled that path. To them, the old adage, "Don't give up your day job" is not meant as a discouraging word - They are seldom heard at this home on the range.
Back to Suze on self-employment reminded.
Not to be a disputer, but I do prefer Robert Kyosaki's distinction between self-empoyed persons and business owners when categorizing the four quadrants of income generation. Having said that, I think Suzie Ormand presents some extremely valuable information for those whom the government considers, "self-employed" for income tax purposes:
Suze Orman Money Matters
Protecting Yourself When You're Self-Employed
by Suze Orman
Especially helpful, is Suze's advice on Planning for Entrepreneurship:
• Figure out the replacement cost of lost benefits.• Don't access retirement savings.
• Keep the home-equity tap turned off.• Don't rely on credit.
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