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I am self employed and a guy that wants to do what I do?

I am self employed and a guy that wants to do what I do? Topic: I am self employed and a guy that wants to do what I do?
June 20, 2019 / By Damia
Question: keeps calling me and asking me the same questions about my marketing plan and income. I sense he has a fear of failure and he is trying to use my success as a gauge as to whether or not he will succed or not. I told him "there is not magic bullet and he just needs to make as many contacts with potential clients as he can. It's a contact sport when it comes to marketing a service business" This guy calls me every 3 months and asks the same questions over and over as if I can tell him some secret to success. I really want to tell this guy to stop calling me. Some folks will not "pull the trigger". They will talk and talk and talk and will never do anything to change there lives. Any advice on what to tell this guy? By the way I think this guy is 50 y/o
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Best Answers: I am self employed and a guy that wants to do what I do?

Bluebell Bluebell | 8 days ago
Your friend can tell his acquaintances the he is "looking into" starting his own business. He is a talker and not a doer. Predictions for his success are gloomy. I would distance myself from this guy as he will blame his inevatable failure on you and expect you to support him as his ship is sinking. You are correct. Tell him to stop calling you about business. Good luck
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Bluebell Originally Answered: Self Employed.what should we do with windfall?
Definately pay off credit cards and any other high-interest debt first. If your husband already has a new job lined up that will make this time much easier. If his new salary is enough to cover your current living expenses then all the better. First of all, since you mention you have no savings or retirement that is something that should be addressed first. Most financial planners reccomend putting aside 3-6 months of living expenses for an emergency....I would reccomend the higher side of this since your husband is changing careers and job security could be an issue. Also, if your husband's new job offers a 401(k) program with matching, he should take full advantage of that and you can use some of that money to cover any budget deficits that come from setting aside that money. It is taken out of your paycheck before taxes are taken out and since most employers match either 50 cents or dollar for dollar your money instantly grows before it even starts earning interest. After that you can do one of two things with the remainder: invest it or pay off the mortgage. If you believe that you can earn more than 5.5% (or whatever you pay of the mortgage) then the money should be invested since you will earn a higher return on this money that you will pay in interest on the mortgage. Actually you need to do a little better than 5.5% to make up for the fact that you can deduct interest payments on your mortgage from your taxes. Realistically, investing in an index fund or a diversified mix of mutual funds, you should be able to do significantly better than 5.5%, so the money should be invested. Also, since equity in your house is much less liquid that money invested in mutual funds, this money wouldn't be as readily available in case of an emergency. A financial planner can definately help you with more details for everything, but this plan should get you on the right track. Hope that helps
Bluebell Originally Answered: Self Employed.what should we do with windfall?
Think of your retirement first. While you don't have a college savings for three children, children can apply for loans, grants and other educational assistance funds. Which is not the case with retirement - as you cannot get a loan to fund your retirement. Especially for someone with no savings. Invest the money you will receive into a retirement fund, and hope that it will grow into a bigger amount that will help make you and your husband's retirement comfortable. Depending on how many years before the children will go to college, you can invest a portion into a 529 account. Better yet, seek the advice of a financial investment professional to help you calculate the amount you will need and guide you to better investing decisions
Bluebell Originally Answered: Self Employed.what should we do with windfall?
invest your money in an asset that earns more than 5.5% after taxes so that you automatically get a buffer to pay off your mortgage. DO NOT SPEND OFF i repeat DO NOT SPEND OFF the money. You can diversify your investments eg. real estate (though amount would be too small), emerging market funds (say 20%), Equities of Blue Chip Companies. Consult a financial adviser.

Aislinn Aislinn
Well, it sounds like you are being nice and offering advice. But it's getting unrealistic now. You have to tell him that you would be glad to help him but that maybe he should be writing down what you are telling him because he doesn't seem to remember what you've told him 30 times. Advise him to research via the internet and library. If he is serious about starting his business he has to take the first steps and not keep questioning you. You never know what you are dealing with, if he starts a business and fails at it - guess who's fault it will be? Not his. You have to refer him to some books or courses and get him off your back. Tell him as long as he has a good business plan he will be successful. These can be found online for free or in books at the library. Get him off your back in a way that he won't stalk your family.
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Aislinn Originally Answered: Self employed nursing?
Harley, one of the things to keep in mind is that you would not be able to bill Medicare or Medicaid for your services unless you started a licensed and certified home health business that would be certified by CMS (and the regulations/requirements as you know with that are extensive). You could certainly work privately, but all of your billing would be private pay. Depending on your geographic location, that may or may not yield that many clients for you to have a 40 hour work week. There are a couple of nurse geriatric case managers in my area, and they can only bill private pay. For more info on geriatric case management- http://www.caremanager.org/ If planning on going in homes privately, consider whether or not getting bonded may help you assure clients that you are "trustworthy" from lifting the silver.....and they would know that an extensive background check had been completed on you to qualify you to get bonded. Info on being bonded: http://www.bargaineering.com/articles/wh... In today's society, we are a rightly so less trusting of having people come into our homes without some assurance of "trustability".
Aislinn Originally Answered: Self employed nursing?
If you work for an HHA on a full time basis, then you are entitled to benefits including PTO. A good agency will offer these things. If you are choosing to work per-visit, then that is your own choice and there are other benefits to that arrangement. There are very few families who can pay for a private nurse. You would have to be a recognized provider in terms of the payers, so that you could be reimbursed - an arrangement I don't believe exists at the nursing level, unless you are AP. You would be limiting your potential clients dramatically. You also would not get any PTO, and would still have the ups and downs that you are describing. If you want to even things out, get one full time position at a larger HHA, where you will have a more steady caseload and benefits.

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