A conversation

Started Apr 11, 2013 | Discussions thread
PenguinPhotoCo Veteran Member • Posts: 6,284
Best us of capital?

I started out decades ago as an auto mechanic. You needed your own tools to get any worthwhile jobs (plus skills, knowledge, etc). $20k in tools or more was needed to be 'fully equipped'. You would make that in a year.  Today you can make more - but then tools cost more these days too.

Photography..sure, you can do some work with a mediocre body and one lens...but if you want to make a living you need multiple pro bodies good glass, flash, a studio even if it's in your garage. $30k? 40K? You can make that in a year as income.

But what if you could do something else with that $40k? You could open a pizza shop maybe, lawncare, snow removal business, maybe a hair salon. My wife opened her psychotherapy biz for under $3500 (that includes the rent and marketing before any income started coming). She's only doing it part time and since the OH is $500/month and her time she's gonna make back her investment within 5 months of opening (as opposed to a year in the above scenarios). Now she's got 60k invested in an education...

Yes, it's great to follow your passion, turn your hobby into your career - but what if that won't pay enough to live on, in the style you'd like to? I guess people can be passionate about accounting or working at a toll booth...

You can invest in the stock market, a savings account or yourself. Self employment means self determination.

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