Road to financial independence?

[surveyor]

Hassle

Marion, Rustico is absolutely right, in order to get rich, you have to put up with some hassle. Whether it means living in a duplex or having to put up with landlord issues, getting rich is not an easy path. That’s why many people don’t do it. They have so many reasons – well I have to take care of my kids, well I have to work I don’t have time to get another job, etc. You have to put in the time, effort, and research.

Btw, you don’t have to be a landlord to be able to invest in real estate. It’s helpful, but it’s not necessary.

For me, I’m a great big fan of multi-tasking. Do your day job, take care of it, but have a side operation of real estate where it can basically run itself, and then you revisit it every so often to make sure it runs right.

You also asked about running a franchise operation. I took a look into that awhile ago, but if you think real estate is a hassle, that franchise idea is worse. Real estate doesn’t require as much attention as that. Basically you just bought yourself a job. And with the economy tanking, as you have mentioned, why would you start such a business?

[seattle-relo]

Hey Marion,

Are you open to living in other states as well? Or are you set on staying in CA? I know the State of CA’s budget isn’t so good, and I believe they are cutting even more education based funding. The duplex thing might not be so bad in other areas of the country. Not all duplexes are small, nasty, and in yucky parts of town. I’ve seen some really nice ones in the Chicago burbs, Austin area, Raleigh/Durham area…I’m sure there’s a lot more.

I’m just a run of the mill MA level therapist, so I’m not totaly familiar with what a school psychologist does in terms of your own business. Perhaps some of the more knowledgable people on this site can talk about the tax benefits one gets for using their residence for business purposes. A friend of mine who’s a licensed psychologist sees clients in her own home and has major tax breaks for doing so. I personally would never see clients in my home, but it has worked well for her.

I have some friends back in Seattle who own a franchise that does very well on paper, but they hate it! It’s so much more work than they ever imagined, and in the end, the husband only takes home about 30,000 a year. Good thing his wife works for Microsoft.

Good luck!

[seattle-relo]

Hey Marion,

Are you open to living in other states as well? Or are you set on staying in CA? I know the State of CA’s budget isn’t so good, and I believe they are cutting even more education based funding. The duplex thing might not be so bad in other areas of the country. Not all duplexes are small, nasty, and in yucky parts of town. I’ve seen some really nice ones in the Chicago burbs, Austin area, Raleigh/Durham area…I’m sure there’s a lot more.

I’m just a run of the mill MA level therapist, so I’m not totaly familiar with what a school psychologist does in terms of your own business. Perhaps some of the more knowledgable people on this site can talk about the tax benefits one gets for using their residence for business purposes. A friend of mine who’s a licensed psychologist sees clients in her own home and has major tax breaks for doing so. I personally would never see clients in my home, but it has worked well for her.

I have some friends back in Seattle who own a franchise that does very well on paper, but they hate it! It’s so much more work than they ever imagined, and in the end, the husband only takes home about 30,000 a year. Good thing his wife works for Microsoft.

Good luck!

[seattle-relo]

Hey Marion,

Are you open to living in other states as well? Or are you set on staying in CA? I know the State of CA’s budget isn’t so good, and I believe they are cutting even more education based funding. The duplex thing might not be so bad in other areas of the country. Not all duplexes are small, nasty, and in yucky parts of town. I’ve seen some really nice ones in the Chicago burbs, Austin area, Raleigh/Durham area…I’m sure there’s a lot more.

I’m just a run of the mill MA level therapist, so I’m not totaly familiar with what a school psychologist does in terms of your own business. Perhaps some of the more knowledgable people on this site can talk about the tax benefits one gets for using their residence for business purposes. A friend of mine who’s a licensed psychologist sees clients in her own home and has major tax breaks for doing so. I personally would never see clients in my home, but it has worked well for her.

I have some friends back in Seattle who own a franchise that does very well on paper, but they hate it! It’s so much more work than they ever imagined, and in the end, the husband only takes home about 30,000 a year. Good thing his wife works for Microsoft.

Good luck!

[seattle-relo]

Hey Marion,

Are you open to living in other states as well? Or are you set on staying in CA? I know the State of CA’s budget isn’t so good, and I believe they are cutting even more education based funding. The duplex thing might not be so bad in other areas of the country. Not all duplexes are small, nasty, and in yucky parts of town. I’ve seen some really nice ones in the Chicago burbs, Austin area, Raleigh/Durham area…I’m sure there’s a lot more.

I’m just a run of the mill MA level therapist, so I’m not totaly familiar with what a school psychologist does in terms of your own business. Perhaps some of the more knowledgable people on this site can talk about the tax benefits one gets for using their residence for business purposes. A friend of mine who’s a licensed psychologist sees clients in her own home and has major tax breaks for doing so. I personally would never see clients in my home, but it has worked well for her.

I have some friends back in Seattle who own a franchise that does very well on paper, but they hate it! It’s so much more work than they ever imagined, and in the end, the husband only takes home about 30,000 a year. Good thing his wife works for Microsoft.

Good luck!

[seattle-relo]

Hey Marion,

Are you open to living in other states as well? Or are you set on staying in CA? I know the State of CA’s budget isn’t so good, and I believe they are cutting even more education based funding. The duplex thing might not be so bad in other areas of the country. Not all duplexes are small, nasty, and in yucky parts of town. I’ve seen some really nice ones in the Chicago burbs, Austin area, Raleigh/Durham area…I’m sure there’s a lot more.

I’m just a run of the mill MA level therapist, so I’m not totaly familiar with what a school psychologist does in terms of your own business. Perhaps some of the more knowledgable people on this site can talk about the tax benefits one gets for using their residence for business purposes. A friend of mine who’s a licensed psychologist sees clients in her own home and has major tax breaks for doing so. I personally would never see clients in my home, but it has worked well for her.

I have some friends back in Seattle who own a franchise that does very well on paper, but they hate it! It’s so much more work than they ever imagined, and in the end, the husband only takes home about 30,000 a year. Good thing his wife works for Microsoft.

Good luck!

[Anonymous]

Hi, Seattle. Yeah, I’m pretty much set on staying in California for the kids. They like it, I like it. I’m comfortable. The thing about school psychololgists is that they can’t cut us even though the budget is bad. They can stretch us out a bit, but because of special education laws they can’t eliminate the position like they can a school counselor. I need two years in a district and I can even go into private practice, so I probably won’t move.

I’m not looking to get rich. I just want to be comfortable and plan as well as I can for my future. Funny about the franchise thing. You would think they make a lot. The school I interned at had a staff luncheon and Chick-fil-A around here catered it, since that time I had been wondering how well franchises do. And I have had the nail shop idea in the back of my mind for awhile.

Tell me, do you like private practice?

[Anonymous]

Hi, Seattle. Yeah, I’m pretty much set on staying in California for the kids. They like it, I like it. I’m comfortable. The thing about school psychololgists is that they can’t cut us even though the budget is bad. They can stretch us out a bit, but because of special education laws they can’t eliminate the position like they can a school counselor. I need two years in a district and I can even go into private practice, so I probably won’t move.

I’m not looking to get rich. I just want to be comfortable and plan as well as I can for my future. Funny about the franchise thing. You would think they make a lot. The school I interned at had a staff luncheon and Chick-fil-A around here catered it, since that time I had been wondering how well franchises do. And I have had the nail shop idea in the back of my mind for awhile.

Tell me, do you like private practice?

[Anonymous]

Hi, Seattle. Yeah, I’m pretty much set on staying in California for the kids. They like it, I like it. I’m comfortable. The thing about school psychololgists is that they can’t cut us even though the budget is bad. They can stretch us out a bit, but because of special education laws they can’t eliminate the position like they can a school counselor. I need two years in a district and I can even go into private practice, so I probably won’t move.

I’m not looking to get rich. I just want to be comfortable and plan as well as I can for my future. Funny about the franchise thing. You would think they make a lot. The school I interned at had a staff luncheon and Chick-fil-A around here catered it, since that time I had been wondering how well franchises do. And I have had the nail shop idea in the back of my mind for awhile.

Tell me, do you like private practice?

[Anonymous]

Hi, Seattle. Yeah, I’m pretty much set on staying in California for the kids. They like it, I like it. I’m comfortable. The thing about school psychololgists is that they can’t cut us even though the budget is bad. They can stretch us out a bit, but because of special education laws they can’t eliminate the position like they can a school counselor. I need two years in a district and I can even go into private practice, so I probably won’t move.

I’m not looking to get rich. I just want to be comfortable and plan as well as I can for my future. Funny about the franchise thing. You would think they make a lot. The school I interned at had a staff luncheon and Chick-fil-A around here catered it, since that time I had been wondering how well franchises do. And I have had the nail shop idea in the back of my mind for awhile.

Tell me, do you like private practice?

[Anonymous]

Hi, Seattle. Yeah, I’m pretty much set on staying in California for the kids. They like it, I like it. I’m comfortable. The thing about school psychololgists is that they can’t cut us even though the budget is bad. They can stretch us out a bit, but because of special education laws they can’t eliminate the position like they can a school counselor. I need two years in a district and I can even go into private practice, so I probably won’t move.

I’m not looking to get rich. I just want to be comfortable and plan as well as I can for my future. Funny about the franchise thing. You would think they make a lot. The school I interned at had a staff luncheon and Chick-fil-A around here catered it, since that time I had been wondering how well franchises do. And I have had the nail shop idea in the back of my mind for awhile.

Tell me, do you like private practice?

[Author]

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