Why You Should Change Your View of Risk
The risk is really in the eyes of the beholder. Have you ever thought that maybe society had sold us a load of crap when it comes to risk? You can’t put it past society, though, we once believed that world was flat, that wearing seat belts were stupid, and that the media is our friend. We often realize much too late that when you go with the flow of society, you are often wrong. It pays to go against the grain, and after reading this article, you will see how the same goes for risk.
No Risk No Reward
You have all heard this saying before yet so few take its teachings into practice. What it is saying is that if you want to gain more you have to risk losing more. Many hear that as gambling your life away, and that may make you cringe. Here is the thing, though, you can’t add an extra $10,000 in income doing anything unless you change your thought process on both risk and money.
Every investor in the world would invest in the riskiest investments if they knew they could risk nothing and yet get it all!
Society sees the stock market as too risky.
…Lovers of savings accounts
…Fans of debt… and this list could go on, but I will end that there.
When it comes time to start a group home, society will say no way, that is different and way too risky. There is no way that you should go in that direction.
What is Comfortable and Normal?
- Predictable work hours
- Consistent paycheck
- Able to pay bills
- Able to save a tiny portion
- Get in line and do as you are told
- Hope you have enough to retire at the end
Does the above sound familiar? That is what we call “safe” in our society. That is what the people consider to be the least risky way of living your life. But let us break this down for a second. Think about what happens during a recession, do the ones who play it safe thrive?
The Safe Way Can Hurt
When I worked my first corporate America job, I was so excited to get out in the workforce and show the world what I had learned in college. I packed my little lunch, dressed my finest, got in traffic and rushed off to work. Within two weeks of doing this day in and out, I was depressed for the first time in my life. I thought this was the life I was supposed to want to live, but I quickly realized society had sold me a lie. There was no respect, they never listened to me or cared what I could do, they wanted me to get in line and just listen. But it got worse…
I did not like the pay, so I stopped feeling bad for myself and worked hard to get a raise. I closed some big deals and did some excellent work. My boss then told me that to get a raise; I would have to work at the company for five years! No matter how hard I worked or what I did, I would not matter because no one gets one before being five years in. I did not have enough money to save, I could just barely survive, and they loved it that way. What was I to do, it was like I was boxed in, and this is where so many people find themselves today.
Ponder The Normal
It made me start to think deeper about the “Status Quo.” I did everything I was supposed to do, I worked hard in school, I went to college, I got a good job and in the end what did I have to show for it?
One day at work I saw a guy who had worked there for ten years get fired because he disagreed with his boss about something he was right about. After being fired, I went to say bye to him, and he told me how he had to get a new job fast because he had no money! The moment shook me up because my life was supposed to be the safe route. Being in a positioned where you can get fired for nothing is pretty risky to me when you think about it.
The New Views of Risk
Depend On Yourself
Depending on other people to give you what you need is how you need to see risk now. Clocking into work every day is not in your best interest because your workplace does not have you in their best interest.
If you don’t believe me let the sales drop and watch your corporation fire people. A company has one goal, and that is to increase profits. Sometimes employees get in the way of that happening.
We go off to school and expect the system just to educate us, but that is stupid. What if the system fails us? Are we ok with wasting all those years? Education is something you must do everyday, whether you are in school or not. Buy books and online courses until you are blue in the face because your brain is the most valuable thing you own.
Don’t depend on others to feed you. That is putting too much in the hands of another person who is inherently selfish and looking out for their best interest. We all need others to make money, but some ensure that what they provide is in the best interest of others, hence why people pay for them.
Build Your Dream Life
Think about what you want for your life? Not just regarding money but lifestyle. I knew from that job that I did not want a desk job. The desk would stop me from being free. I did not have to be an entrepreneur but if I worked for someone they had to provide me with autonomy and trust.
The goal was to make money from seven entirely different revenue streams. I wanted to be able to spend half of the year traveling and still be able to work and make money. That was my dream life! I never thought about it until I had lived my worst nightmare and it forced me to.
Manage Your Money Properly
The schools do not teach us about personal finances because most teachers don’t know themselves and we keep doing stupid things to stay broke.
- Too much consumerism
- Afraid of stocks
- Only thinking of retirement
- Thinking a house payment is an asset
- Building credit is important
The list of horrible decisions could go on and on. All you have to do to change all of this is buy five books on personal finance, and all of these concepts will change for you. The rules we listen to as a society are made to keep us BROKE and dependent on the system.
We spend money to get away from our miserable jobs, we don’t save enough to keep up with inflation, stocks are like gambling, and we think of retirement but never have enough for it. When will the madness stop?
The same applies to starting a group home. Some people will buy a new pair of shoes, before buying books like the “23 Common Mistakes” which can save you $3,000 to $5,000 when you start your group home! That makes no sense…
When I started to learn about real estate, I understood how to be an investor and build true wealth. Then I started trading stocks, and I gave up on holding all of my money in savings accounts. I stopped trying to keep up with others as my income increased. Instead, I used that money and invested so I could make even more. No running to buy a bunch of crap I did not need. I got debt free, and I never looked back to having to owe money to anyone. I wanted people to owe me money.
Never Depend on One Income
When you depend on one income that income owns you. Your boss can tell you to do anything and because you have bills to pay you will put up with it. The only way to break away from this is to have multiple streams of income. When people start group homes, they LOVE THIS! They usually still have jobs they work, and they get paid from their job every other Friday, and they get their rent checks in on the first of the month, and they are not a slave to either.
Debt payments represent money you could be investing. You can’t invest money when you have a student loan, two car payments, a house payment, medical bills and more. We are encouraged to keep getting into debt but just keep making these payments, and that is the stupidest thing you can do. Set your mind on clearing out your debt because debt is a risk.
Increase Payments Due to You
Make sure people pay you! You have been trained to spend instead of being trained to receive the payments. Imagine having three group homes with a total of 30 beds. If you charge $500 per bed, that means every month you have $15,000 coming your way. Then next month guess what happens, they have to do it again! This continues until they move out and then you find new people. Entrepreneurship is powerful because it turns YOU into the one reaping the benefits.
What Do I Do Now?
Honestly, if you are reading this, it means you want to start a group home. Stop playing around and get started! Starting a group home is NOT a RISK! Living the life, you live right now is a risk. You are being lied to; the risk is much different from what they told you and you won’t realize the truth until you are 65.
If you are dying to know more about how to start your group home, sober house, transitional house, re-entry home and the many other types of homes, join our membership. The course covers everything you need to know to run a successful group home then sign up for our free course below. If you are already passed our free course, then make sure you start using our resources to elevate your game.
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