Because I love my primary calling/work as a pastor, I am never tempted to take an early retirement to follow my business sub-passions. However, I know many who have traveled that path. To them, the old adage, "Don't give up your day job" is not meant as a discouraging word - They are seldom heard at this home on the range.
Back to Suze on self-employment reminded.
to be a disputer, but I do prefer Robert Kyosaki's distinction between
self-empoyed persons and business owners when categorizing the four quadrants of income generation. Having said that, I think
Suzie Ormand presents some extremely valuable information for those
whom the government considers, "self-employed" for income tax purposes:
Suze Orman Money Matters
Protecting Yourself When You're Self-Employed
by Suze Orman
Especially helpful, is Suze's advice on Planning for Entrepreneurship:• Figure out the replacement cost of lost benefits.
• Don't access retirement savings.• Keep the home-equity tap turned off.
• Don't rely on credit.