Almost all of us experience a lack of funds to support a savings plan from the start of our working life until our mid years when the kids are gone. While the kids are at home there are so many demands on both our time and our finances.
- School activities
- Sports activities
- Dance lessons
- Clothing for the kids
- Medical and dental care
- Funding for college
Children put a heap of demands on us but when they are out of the house and on their own we tend to have more discretionary income. Mainly the cash monster is gone and we breathe a bit more freely. Yes, they may put the hit on us for a loan to help them get through the month or to repair their car which just quit on them, and you may feel compelled to help them from time to time. They are your children after all. But their needs shouldn’t take all of the cash that you might have extra at the end of the month.
At midlife you should have more time as well as more money. The kids can now take themselves to their own activities without involving you. No longer do you need to run yourself ragged dragging them to soccer practice or music lessons. You can now experience some spare time.
Likewise you should have a little more money to do some of the things you didn’t feel you could do when they were living under your roof. Going out to eat is one of my favorites. My wife likes that too because then she doesn’t feel the need to cook.
You can go out to a movie or to see a play if that is your bag. Symphonies are another fun thing to attend if you enjoy music. But take a bit of your extra income and sock it away.
Or better yet invest some of it into a small business that will give you a return. By diverting some of your income and time you can start a small business that will pay larger dividends as time goes on. It’s kind of like providing a retirement fund where there was none before.
I like network marketing as a business model. It has a lot of upsides and not many downsides going for it.
- It costs almost nothing to start a network marketing business.
- It costs almost nothing to maintain.
- It takes very little time to operate.
- You can do it anywhere even when you are traveling.
- Consumable products insure that there is a need for them over and over.
- There is no requirement to sell products.
If you are interested in taking a look at what I am talking about here is a link to explore. I will explain how this works in another blog post. If you would like to discuss this you can reach me inside the link.