Step 7: Increase Your Income

Your life-time goal is to raise your income for better living and retirement. Income strategies can vary, but we have identified four ways that can help raise your income:

(does not include investment strategies)

 

increase income

Increase Income by Building Up Your Career

What You Need to Know

Building your career is one of the surest ways to increase income.

Finding the right-paying career that fits your life-style may require a change of jobs, further education, and most importantly, networking with individuals in the field.

Important Note:
Don't assume that high-paying careers will bring you a better life style. Some career opportunities that pay well may not fit your overall career satisfaction.

It is important that you complete a personal assessment to assess your career appitude.

Getting yourself in the right career is more important than pursuing a career solely based on income and advancement.

As you know, the demand for certain careers change over time. Finding a career that matches your skills set will require an economic assessment, company search, resume preparation, interview, and career networking.

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increase income

Increase Income by Furthering Your Education

What You Need to Know

Higher education means higher salaries and benefits. Additionally, continued developmen in technology and skills means more marketable career opportunities that translate into higher salaries and benefits.

Whether you are a high school student going to college the first time, the graduate looking for a professional degree, or a career professional that needs to enhance their skills, there are varied education opportunties for:

everything you need to plan college - grad school - continuing education
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increase income

Increase Income By Buying a Small Business

What You Need to Know

There are approximately 1-in-5 small businesses that change ownership each year.

Many of these businesses are profitable and ready for new expansion ideas. With a percentage down investment, you can find yourself owning and managing an income opportunity.

Your challenge is finding the right business opportunity that fits your needs and financial objectives. Your best search is contacting a business broker who is a member of the nation's largest Business Brokerage Network.

You will find valuable information about the business buying process and a list of business management topics
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increase income

Increase Income by Starting a Home Business

What You Need to Know

Why start a home business? Job security is one reason. According to the American Banking Association,

"The large majority of American are 3 to 4 months away from bankruptcy. Many are 30 days away."

Question for you: if you lost your job, what source of income would you turn to?

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