If You Don’t Have A Second Job, You Are Crazy

Posted: November 3, 2016 in Uncategorized
Tags: , , , , , , , , , , , ,

I learned my lesson the hard way.  By living and surviving through major recessions in 2001 and in 2008/2009, I cannot overstate how important it is to have a plan B.

What happens if your job is eliminated and eliminated quickly?

Can you afford your rent, cell phone, car insurance, food, and gym membership for one year?

Most people can’t.

The first time I worked two jobs was right after I graduated from College.  At that point I wasn’t necessarily worried about losing my job since I lived with my parents, but more importantly, I wanted to save some quick money.

And it worked great.

Almost 15 months after graduating from College, I had saved over $20k.

But more importantly, I learned how a second job gave me some flexibility.  If I wanted to leave my first job, or if I got laid off, the second job was there for me.

I have met so many older Americans that have only worked and committed to one place of business and unfortunately had their rug ripped out from under them.

2001 was bad.  2008/2009 was really bad.

I don’t want to get into the importance of having a nest egg since that is obvious, but not enough people have a plan B.

A great example would be the auto workers in Detroit.  For years, the jobs were slowly starting to leave before they almost became non-existent.  If you find yourself in the same situation, you need to start a 2nd job before your position is eliminated.

Healthcare. Education. Retail. Restaurant/Tourism, etc.  There are a lot of fields where people can possibly work part time and have the opportunity to switch to full time if necessary.

Another idea is a side business.

If you can start up a successful side business, you can save a TON of money.

I have been working in sales part time for the last 3 years, and so far, it was been very profitable.  Profitable enough that I don’t think I could have afforded to get married and support my pregnant wife like I am now.

But that best part is that if I lose my 9-5 job, I can jump into my sales job full time on day ONE.  I won’t earn the same that I was, but I have a solid chance to break even with my bills and support my family.

So take my advice, take on a 2nd career.  You will be surprised by how much you can earn.

-John

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s