How Valuable is Your Financial Freedom?
Updated: Aug 28, 2019
There is a lot of dependency a worker has on their employer. We depend on our jobs for not only our pay but also our health insurance, life insurance, vacation pay, holiday pay, retirement matching dollars and more. We want that stability and security that we can count on that employer for our livelihood but that isn’t always possible. There really is not any security or guarantee at all and that dependency is also a high risk to us with little we can do to change the results.
There is always a company in the news laying off workers, being bought by another or filing for bankruptcy. As workers many of these events are out of our control yet we are forced to live with the ramifications both professionally and personally. It’s shocking, painful, frustrating and very stressful when these types of things hit us. Many of us are not financially prepared for being without our paycheck for any amount of time without significant negative impact to our family.
It’s no longer common for someone to stay at an employer beyond 2 years! So every 2 to 3 years we are changing jobs by our own choice because we have found something “better” – or so we hope or the company has undergone a drastic change that has eliminated our job. If the average person works 47 to 50 years of their life that is 25 changes in jobs!
I Didn’t See It Coming
I still work full time in a corporate job. When I started counting how many job changes I’ve had in my own career it was just about aligned to that every 2 – 3 year statistic. I look back at my career and there are many high proud moments that I felt really good about achieving success and an equal number of disappointments, frustrations and risks that I was left exposed to because my job was gone. There is very little more terrifying than worrying about how to pay your bills and keep a roof over the family because your employment is gone in an instant and you don’t have a back up plan.
We don’t like to think about the possibility our jobs may be gone at any moment. It’s not pleasant and we always think it won’t happen to us – until it does. Then what? We update resumes, dust off networking contacts and hope for another job that may do the same thing to us in the future. With luck we can find something quickly and we will really like it. Every time it happened to me I’d swear I’d be better prepared for it and over time I was slightly more prepared financially but never enough and it usually left me burned out and skeptical about my next employer. Over time I like to think I’ve developed a sense of when it might happen and I start saving more just in case. Let’s face it you never know how long it’s going to take to find another job.
Most of us don’t have a choice about not working but I like to ask them this:
What would your ideal life look like if you had financial freedom?
Would you work for that boss who always yells at you? Would you put up with the co-worker that you know is undermining and talking negatively behind your back? Do you really love your cubicle workstation with low walls? Would you accept being told there were no funds for the bonuses this year and raises are going to be delayed so the shareholders can be paid first?
Would your responses change if you have the financial freedom to not be 100% dependent on your employer?
It’s Not a Get Rich Quick Thing
Having your own side business isn’t a get rich quick scheme. I am sure some do get rich quick but most of us are building our businesses for the long haul to reduce our employer dependency and perhaps one day replace and increase what we have now. For me it’s about reducing dependency but also creating that security structure I can actually rely on and trust is going to be there.
I chose doTERRA because they have a 70% retention rate of customers. Even those that start our building a business and later decide it’s not for them are likely to stay as a customer. That’s a really strong customer base and it’s growing. In late 2018, doTERRA welcomed it’s 7 millionth customer. To mean this meant I would have ample opportunity to grow with a company that is thriving and customers believe in their products.
doTERRA is a debt free company. They are completely debt free and don’t have shareholders. From working in the corporate world for over 30 years it’s refreshing to see a company that has zero debt and is giving back to the communities around the world in a genuine way. They help their own employees and distributors also achieve that illustrious debt free status in their own lives. It’s not about the rich getting richer but all of us living free of debt so we can actually live the lives we want and can help others do the same.
It’s freedom also on the level that I can make it what I want. I can work like I want and do what I know is right. Bottom line for me is even if it never amounts to replacing my corporate job income it gives me that creative fulfilling outlet that my job hasn’t provided in years. Additionally, everything I create, prosper on and achieve is mine to enjoy.
Residual Income is a Thing
Residual income is where you earn money ongoing for effort you put in upfront. You build your business, you make those key decisions that structure, define and shape what you want your future to look like and at some point it pays off in the form of residual income.
When you have residual income, you dictate when you take vacation and for how long. You determine your income growth potential and give yourself raises and bonuses. You secure your future free of dependency. Residual income means freedom of choice and freedom from the constraints we feel today in regular jobs answering to someone else. Even if we choose to still work for someone else we know we have a solid Plan B in place for the what if scenarios that could happen in that job.
Owning your own business isn’t for everyone but it is truly the only way to claim true independence when it comes to work. Most of us have the basic knowledge to make it happen too. Most us have the deep passion and desire to live differently than we do today. Most of us have been programmed to believe we can’t, shouldn’t, it won’t work or some other lie for why not – but I dare you to consider the possibility.
There are numerous stats out there that say only 1% – 2% of people make it to the top ranks of a direct marketing company where the “real” money is made. In 2018, doTERRA had over 8% of their distributors reach the Diamond status ranks. The higher Diamond ranks keep being created as more people exceed those levels.
Now let’s get real for a minute. Yes, you can achieve those super high ranks and big income, but that starts with you replacing your current income and making this your full time job. Making enough that you can comfortably support your family and take care of your needs. The average distributor starting out makes $1300 or more in their first year. Who doesn’t need an extra $100 a month to start out? How far you want to go from that is entirely up to you. Before you chalk it up to being impossible, consider that every person who reached a high rank started out doing the same thing you did in building this business. It didn’t just “happen.”
Define what you want, make a plan to get it and then work on making it a reality.
Where’s Your Focus?
Set your intention for what you want out of your side business. Is it to eventually replace your job? Is it just to have a solid Plan B in your back pocket? Is it to earn a million dollars every year? What does your life look like if you have that financial security and freedom to make the choices you want?
Do you travel? Do you pay off your house or build a new dream home? Do you buy a second home or new cars? Do you set it all aside for your child? The point is we can make all the excuses we want but if you really want to reduce dependency and secure your future you won’t get that from a 9-5 job.
Interested in more?
If you’re interested in not just stretching your money and time but actually building residual income to secure your financial freedom then let’s connect. I’m happy to answer questions and help you find the right path to building your own business with doTERRA.
amyk@dragonspitapothecary.com
It all starts by experiencing doTERRA yourself. Click here:
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