Running A Part-Time Business
People who run part-time businesses have the best of both worlds. They’ve found a way to satisfy their craving for entrepreneurship while balancing it with a full-time position, care for a child, or retirement.
Running a part-time business provides a source of additional income that should be handled as carefully as a steady paycheck - in fact, even more carefully. Why? Because these funds are natural asset builders. Chances are good that within your household, there’s at least one full-time source of income – one from which you’re already deducting retirement funds, pre-tax. You’ve gotten used to “paying yourself first” that way, so when those part-time checks come in the mail… it’s tempting to spend them, isn’t it?
That money can do a whole lot more for you.* If you’re looking for short-term growth, mutual funds are a smart investment to consider. For longer-term goals, if you’ve ever considered funding a universal life insurance policy, this could be a good way to do it.
For more ideas on matching your various income sources with smart strategies, contact WSLife.com. We’ll help you directly or point you to someone who can.
*Additional income from a part-time business can help you achieve short- and long-term financial goals – from reducing debt to funding an education.
Products for this Life Stage:*
WSLife.com mutual funds are a fast, easy way to invest your part-time funds.
More Good Ideas for Part-Time Earners:
You might be surprised at how little it takes to build wealth. Play with the numbers using our How to be a Millionaire Tool.
If you’re juggling full and part-time jobs, don’t forget to think about life with no job. That’s what retirement is all about.
Western & Southern Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation.
*Products suggested for this Life Stage are not a specific recommendation or solicitation to purchase. Mutual funds are offered through an affiliate of Western & Southern Life.