AN EXIT PLAN FOR INDEPENDENT CONTRACTORS! Do You Have One?

By
Real Estate Agent with Dean's Team - Keller Williams Realty Partners Chicago IL

Hey from Chicago - home of those Hapless Chicago Bears!   You see the game?  Painful!  Very painful!

Less than an hour before the Season Finale of Mad Men . . . so, time to blog!

If you are self-employed for a living - an independent contractor, perhaps in a Real Estate Related Field - perhaps you have asked yourself this question, at one time or another -

"What's my exit plan?   And, what will my source of income be after I opt for this plan?"

Now, this is a question that those employed in a full-time job may not have to comtemplate.  Many of these folks - those that STILL have a full-time job, anyway - have Pension Plans.  401-K Plans.  Retirement Accounts.

What do those of us in Real Estate Related Fields have?

Often, investments tied to Real Estate - most of which are worth far less than they were only a couple of years ago!

Retirement plans?  Savings Reserves?  We Independent Contractors often have them - but, likely, their balances are considerably depleted as compared to a few years ago.

Sometimes, these days, strong sales months simply fill up the hole created during recent lean times.  Likely, more lean times lay ahead, early in 2010, and many Real Estate Practitioners will likely again fall in the "living from check to check mentality."

So, many plan to work.  As many years as we need to.  In order to meet our family's daily needs, and our monthly expenses.

When bills are due, as we all know, excuses often don't work with those we owe money to.   We have to pay up - even if, at times, we do so a few days late.

For those younger than 30, the decision on an "Exit Plan" is many years away.  Those older than 50 - not so distant.

But, for everyone, the exit decision will hit us sooner or later.

Have you thought about and planned for that?  Or . . . is an exit, simply a pipe dream, in today's Real Estate Market?

Would love it if you share!

DEAN & DEAN'S TEAM CHICAGO

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Illinois Cook County Chicago
Groups:
Windy City Real Estate
Realtors®
Keller Williams 'Rainers
Floyd Wickman
Diary of a Realtor
Tags:
business building tips
an exit plan

Spam prevention
Show All Comments
Ambassador
791,084
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

So many in Corp America thought they had an exit plan, and guess what. So for us Being independent means you have to plan yourself . Which in the end may mean our plans are better than others who think they are safe

Nov 09, 2009 07:58 AM #1
Show All Comments
Rainmaker
362,983

Dean Moss

Dean's Team Chicago IL Real Estate Team
Ask me a question
*
*
*
Spam prevention

Additional Information