Financial stability can be one of the most difficult things to achieve in modern society – especially if you’re not willing to sacrifice your time and/or mental health to a corporate world. Some people enjoy lucrative careers – and more power to them. But there are other ways to achieve financial freedom.
Start Your Own Business
Starting one’s own business definitely isn’t a simple or casual step. But then again, none of the steps you take outside of the typical 9-to-5 realm are going to be safe. Starting your business means putting a huge amount of finances on the line. It means committing large amounts of time and energy to a project that will demand much more than any desk job. However, it also means that you get to decide your hours. It means that you will be able to pursue a passion for a given product or service in your local community. It means that survival and success will bring not only financial stability but also an emotional fulfillment that is hard to find.
Invest in Real Estate
In some ways, investing in real estate is similar to starting a business. You’re going to need a large amount of money to begin, and the results of your venture are at least somewhat out of your control. On the other hand, the results can also be astronomical. Investing in real estate guarantees you a valuable property under your name. If renting the property doesn’t work out, you can at least sell the property and regain most of what you poured into it. The key to successful investing is actively keeping your contracts full of tenants. You can screen your tenants by conducting a background and credit check.
More Flexible Jobs
You can find many jobs that bring a stable income but offer more flexibility than your average 9-to-5. Some may be adjacent to running a business – namely, being a consultant, analyst, or freelancer. A freelance plumber, for example, needs to market and advertise himself or herself locally to find work. However, that same freelancer gets to set their hours and choose the prices they charge. If you don’t have any experience that could help you break into such a field, there are certifications you can get relatively easily.
Finding a balance between having financial stability while still enjoying your job is very difficult. It also happens to be a major life goal for most people. If you can strike that balance, no matter how hard it is to get there, you might find your day-to-day life far more fulfilling than you ever realized.
Check out this article on whether or not you should start your own business!