Financial Independence
Enjoying the life of Financial Independence is a dream many have, but very few even attempt to achieve. Why is that?
Let's discuss some unique problems first.
1) Most people do not know where to start.
The educational focus was basic knowledge based, not wisdom based or wealth building based.
2) The lack of an entrepreneural culture.
With a culture focussed on being trained for existing businesses and jobs, newer development of more competitive businesses were largely ignored.
3) The predominance of a social welfare culture.
With great post war affluence came the social welfare state. People were paid to remain out of work and a whole generation of people were trained into waiting for hand outs and awaiting the government as their saviour. Business development was not on the main agenda.
4) Mentors were not readily available.
The lack of a general cultural concensus on entrepreneurship also brought about the lack of the numbers of experts in business, also known as mentors.
Let's look at some of the positiveness today:
1) Economic change is creating a newer group of entrepreneurs.
Forced economic change also known as recessions or depressions or survival requires people to become far more proactive in making their own income. Many small busineeses were born which quickly became the biggest new source of new employment.
2) Governmental recognition of a progressive Tax structure to encourage business ownership. I.E. they reward you to get into business by allowing much higher and wider based deductions for a business person vs an employed person.
3) There are far more business courses and business help education that have arisen from the need of entrepreneurs.
4) Truly important, the amount of time elapsed from the period when very few mentors were available to have allowed many more mentors to come on the scene and expose and guide more entrepreneurs in the world of various businesses.
