Many proactive employees explore self employed retirement plans because
it is obvious to them that one of the best ways to generate cash for
oneself after retirement is to own a small business that makes profit
Employees often refer to such self employment adventures as PLAN B.
Unfortunately, while it is common to hear a handful of employees discussing different possible self employment opportunities, few actually retire with a profitable small business in their name.
In fact, the majority of employees are afraid to lose their 8 to 5 day job because they have no other income source apart from their day job.
Consequently, millions of employees worldwide are stuck on the 8 to 5 rat race . . . living from pay-cheque-to-pay-cheque and enduring the most humiliating of work conditions just to make a living.
Why do millions of employees worldwide fail with self employed retirement plans?
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There are a couple of reasons:
1. Procrastination: Many employees keep planning and planning (and repeatedly shifting their small business start date) but never actually get down to executing their small business idea.
2. Fear of failure: Many employees considering investing in a small business are afraid of failure. And that fear of failure fuels their procrastination.
They want everything to be just perfect so that nothing will go wrong. Since nothing is ever perfect, they end up never launching their self employed retirement plans.
3. Grandiose plans: Some employees who plan to start a business have really great plans. They plan to start in a big way so that they can make big money within a short time.
Consequently, they lose huge amount of money when things do not go as planned and the business fails.
4. Quitting after first attempt: Happily, a good number of employees go beyond the planning phase and actually launch their small business. However, down the road the business experiences difficulties and they decide to close shop.
Sadly, that initial unpleasant business experience makes this group of employees afraid to venture into business ever again.
So, they stay glued to their day job, even if it's a job they don't love doing.
When they eventually retire, they begin to face the financial crisis most retirees inevitably face.
If only they didn't give up on their self employed retirement plans at the first sign of trouble!
Are you currently in paid employment?
Would you like to become a self made founder and CEO of your own profitable small to medium business?
Would you like to retire early from your day job and have your own business fund your retirement life?
If yes, then there is a business reality you must understand.
The reality is . . . failure is often inevitable in business, especially during your first attempt at starting a small business.
Most successful business people you see today failed with their first business.
In fact, the majority of small businesses fail within 1 to 3years of startup. And many startup business owners lose up to 70% (or more) of their startup capital when their businesses fail.
However, the difference between successful and unsuccessful business people is their attitude towards business failure.
Successful business people never quit when they fail whereas unsuccessful business people quit immediately they fail with their first business.
When committed business people fail, they analyse the reason for the failure and learn from it. Then try again and again until they succeed.
The truth is this . . . investing in the right self employed retirement plans can set you financially free for life.
When you successfully establish a small to medium business that generates substantial profit every month, you will be able to retire early from your 8 to 5 day job and enjoy a financially independent retirement life.
Yes, a small business that you establish while still in paid employment can earn you guaranteed retirement income.
Therefore, do not give up on your small business idea even if you fail during the first attempt.
Learn from your mistakes.
Read business books. Attend entrepreneur courses.
Learn from successful business people like Samson Itoje, the CEO of this premium retirement planning guide.
You will succeed if you refuse to give up . . . and if you connect with the right business mentors and implement the right business development strategies consistently.
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