Monday, November 24

Sources of Active Income: Self-Employed or Professional

One day, while having a conversation with a new found friend, He asked me what is my profession.

I said, “I am an Accountant.”

“Oh!” said the person, “it’s one of the most difficult courses! Only few pass the board examination in your field.”

“Would you mind if I ask?” “Are you already a board passer?”

I said, “Yes! In fact, I have two certifications in two Accounting fields. I’m a Certified Public Accountant and a Certified Management Accountant. I passed the first and got an exemption to the second. I am exempted from taking a Global examination.

Wow! You must be good, he replied. “Not at all,” I answer, “I think I’m lucky and blessed, I asked for it in my prayers and my prayers were answered.”

“But you know what?”

“What?”

“I realized Jim Rohn is right.”

“Formal Education will give you a Living;

Self Education will bring you a Fortune.”

“Meaning, even if I start practicing my profession on my own or build a consulting firm today or be self-employed today, it will not bring me the FORTUNE or life I want to live.”

“I want to have both the time and money!”

“I may have the money but not the time or I may have the time but not the money.”

If I decided to be in a Self-Employment group today, here’s what I realize…

….“Income is based on the outcome or the result of my service. If I have NO WORK RESULTS, I will NOT RECEIVE PAYMENT from clients.”

… “I need to put in more time to produce or provide more outcome/results to increase my income.”

…“What’s risky is if I did not make well, I won’t have money to put in my retirement fund.”

…“I have to absorb all of the costs/expenses being on my own.”

…“ No Boss. Yes! But I have to face all the problems alone.”

…“And, when I want to go on vacation, I can not go on leave! I can not leave behind my practice or my firm.”

What a way of life? Huh!

Thanks God! I have a choice!

Currently, I'm working out five streams of passive income so in five year's time I'm out of the corporate world and enjoy my financial freedom.


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