Tuesday, February 26, 2008

Lost opportunity

This past weekend I learned the most costly part of not being financially independent. I learned that the cost is lost opportunity. When I woke up for the third time this Saturday (Brandon, my son hasn't full caught on to the idea of sleeping when it is dark out:) ) I had no idea the lesson I was going to learn.

It started like all other Saturdays, getting the house in order while Anita, my wife, got Brandon ready to go grocery shopping with her. Anita and I were making sure to get an early start because we were hosting for one of my co-workers and his wife and wanted to make sure that our house was presentable for our guests.

When our guests got to our home we made small talk, I showed my guests the renovations that I had done and have had done. Later during a supper of chicken fajitas my friend's wife tells us about a new fancy tea store that they saw in the US and that she thought it would be a great business opportunity. I have to say that I was intrigued by this business opportunity, but I knew that there would be no way for me to invest in something like this with the debt that I am carrying.

I know that some will say if you really want you will find a way. I agree but at what risk? I have to protect my house from risk because it is also my home. I hope in five to ten years to be in a position to answer the door when opportunity knocks.

If you remember in the past I talked about the definition of financial independence being the ability to live on the passive (non-employment) income you generate. For now I am mainly in the debt elimination phase which will be followed by an investment and/or savings plan to generate passive income. That being said I am pursuing other passive income streams; notice the Google Ad Sense on this blog. When I have more time I will explore affiliate programs where links from my blog that result in sales will pay commissions.

As always I welcome any comments to this post.

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