Hi, I’m a youngish Baby Boomer, happily married and I’m loving the life that I’ve created for myself and my family.
I enjoy and spend a lot of time traveling the world. This obviously costs a fair amount of money.
But, I can honestly say that I have never regretted spending a single dollar on any of my travels. However, making money while I traveled seemed a great idea and so it was only natural that the appeal of the laptop lifestyle would bring me to the idea of creating my own online businesses. Luckily for me these online businesses have been a general success and they are now providing a passive income to support my travels.
The Not So Good News
My only bout of unemployment in my 40+ year career came as a complete shock. It was devastating news as I had a young family to support. The not so good news came to me at 3 pm Friday afternoon way back in 1995 when twelve of us staff were summoned to the general manager’s office (I was silly enough to think that I was to be sent on another overseas assignment).
As a group, we were told that we were dismissed and that we were to be escorted out of the building in the next 30 minutes. The news was utterly devastating. One of my fellow unfortunates was in tears, he had been with the company for 17 years.
The worst part was the humiliation of being escorted from the building by my ex-boss, who was clearly upset at the task. From that day on I became a small-time entrepreneur. Sure I haven’t made a fortune, but I’ve always had some sort of an income.
It’s Never Too Late To Get Started
I realize now that I’ve always been a bit of a late developer…..
And so it happened that one morning back in 1999 I woke up to the realization that I really needed to start making some serious money to provide for our financial future. I was now determined to do something about it and more importantly, I was going to to take action.
My Coffee Ventures
I’ve always dreamed of having my own business and I was always looking for opportunities. One fine and sunny morning shortly after my “realization” I came up with the idea of building a coffee cart with the intention of building a business around it. I built the cart similar to the one in the photo. I had it officially registered and I was effectively ready for business. All that remained was for me to buy the Espresso machine and find a location to start the business. However, I was lacking a clear business plan because I didn’t have the cash to buy the espresso machine and the trailer to transport the cart to the weekend markets. All up I needed about $10,000, which at the time was a lot of money and therefore I was carrying a lot of risk which I wasn’t prepared to take. I should also add that the coffee boom had not yet taken off in 1999 and the whole scheme reeked of risk. Sadly the coffee cart ended up as a workbench in my shed, an inglorious end to a dream.
My Real Estate Ventures
In 2000 a friend of mine asked me to accompany him to a real estate seminar. This was one of my best ever decisions because I was totally enthralled by the whole concept of buying real estate. Luckily I decided not to sign up for any of the courses that were on sale at the seminar. Those that did got seriously burnt, as the Guru’s real estate empire went right down the tube about 2 years later.
Instead, I did it alone, but I followed the Guru’s teachings and steps. Within about 18 months I’d managed to buy more than ten properties. This was all achieved with very little equity in our own home.
Here is one of my 3 removal properties that I did This involved buying a block of land and moving an old house onto it. The old house was then renovated to an almost new condition. These 3 small projects were very profitable.
We, of course, were carrying a huge debt which was always a concern, so after about 5 years we decided to start selling down and cashed in an amount of money and a couple of losses. But, we were way in front and very happy with the outcome and relieved to have reduced our risk.
My Internet Marketing Ventures
We were now out of the real estate business as I am keen to generate an income without all the hassles and liabilities of owning property. My plan for myself and my wife is for us both to be free to travel the world and be in a position to generate a passive income while we are traveling.
The obvious choice was the Internet and online marketing. This is a great place to be, there is a very little risk and in fact, there is immense potential for building online assets. Building assets online is very similar to building business’s and real estate assets offline.
If you can build a website that consistently generates positive cash flow, then the website will have an asset value. This means that you will have an asset that can be sold in much the same way that a business or real estate property can be sold.
So the obvious question is, What are you waiting for?
Start creating your own risk free ventures!
I do hope that you take my steps to success and If you do sign up for a free account with Wealthy Affiliate, I’ll be more than happy to see you on the other side.
I’d like you to know that I’ll be there to help you in any way that I can.
Otherwise, I wish you the best with your own ventures.
Regards and Best Wishes