I have considered different ways for obtaining more income on top of my career.
- Find a part-time job. This is not realistic because I work more than 8 hours per day if I work in the field or out town. We also have a 1.5 year old baby to be taken care. Furthermore, most of the part-time jobs do not pay enough for the extra time I have to spend.
- Start my own business as a consultant. Since I have only approximately 6 years of experience and I don’t know too many people in the city, it will be difficult for me to obtain customers at this point. This might be my future career goal when I gain more expertise in my field.
- Purchase a business or franchising that does not require professional experience but managing skills, such as restaurant, clothing store, etc. Since I got two mortgages and a family, I do not have that much saving at this time. I also do not have enough managing experience to handle a business.
- Investing, such as stocks, real estate, mutual funds, etc. Investing in equities is always in my mind after finishing the college. However, I did not get into it earlier because my parents had a bad experience in the past which caused them to go bankruptcy. Therefore, I have not been willing to get involved in stocks at all previously.
After analyzing the pros and cons of each option, I finally overcame the nightmare of my parents’ bankruptcy and tried to learn more about investing in equities without going the same path as my parents did. This is the best option I have so far that I can start without spending too many resources at the beginning.
Continue to – Investing in Equities – Pros & Cons.
PATH TO INVESTMENT 