Almost every career now requires some level of certifications and licensing. In itself, this isn’t a bad thing. I think there should be levels of accomplishment and achievement required before you announce to the world that you can do something.
But this mandated licensing has become more of a controlling “big brother” factor by the government to say what we are or are not qualified to do. And the government has a tremendous amount of power.
My point is not to scare you, but rather to encourage you to be proactive in assuming that regulation within your industry, profession, or business will be stepped up. If you’re not in a position with heavy regulation and required bureaucratic compliance, consider yourself fortunate – but realize it’s coming, almost across the board.
Unfortunately, the government wants to get its tentacles into the private sector more and more. And it’s going to come harder and faster over the next few years.
So what can you do?
Having multiple lines in the water is key – meaning multiple streams of revenue. These could be investments in additional businesses or Real Estate, which is what we do in Freedom Founders. Relying on just one source of income leaves you extremely vulnerable, as the pandemic shutdowns have made abundantly clear.
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
1. Schedule a Call with Me:
If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least $1M in available capital (can include residential/practice equity or practice sale), then click the link to jump on a quick call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to schedule a call with me directly. www.freedomfounders.com/schedule
2. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
3. Ready to Step Away?
“How Much is Enough?” This simple question keeps hard-working professionals at the hamster wheel of active income far longer than they need to be. Watch this free training, and discover a proven model for determining how much you really need before hanging up the handpiece! www.freedomfounders.com/training