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Re: [RC] Increasing Income - Ridecamp GuestPlease Reply to: Kathy Myers magnumsmom@xxxxxxx or ridecamp@xxxxxxxxxxxxx ========================================== Bruce, What a great email and inspiration. I've got a dozen bananas in my truck. ;-) I hope this isn't too late, as I've been working solid and I've fallen way behind on being able to keep up with Ridecamp. However, I like where you are going with this thread. We moved to NM without a job at the height of the dot commie crash. We knew that we needed to be like a farmer... more than one income stream... so that if the "pecans" failed one year, we would still have a "corn" and / or a "bean" crop. We still work in that direction. No matter where we are at, we are always looking for the next opportunity so we could be ready in case we needed it. A job is never a job until you start the first day... or maybe when the first paycheck arrives. Having two irons in the fire has saved me more than once in the last 4 years. Another thing we do: maximize our tax deductions and use a good accountant. If you own a home, it's a lot more in your pocket than just the equity. The payments are a write off. If you can, refinance every debt that is not tax deductable under a 2nd on your home. The payments usually decrease (though you pay over a longer time) and free up more cash now. Don't count out inflation. $300 / month in 10 years is only worth $150 - $200 in today's buying power. We call a 6% mortgage rate "free money" because for the most part, the house will appreciate at or faster than 6%. The cost of a good accountant is also a tax write off. We moved someplace where we could keep our horses at home. That way all of the money I used to spend on board is now going into my house payment. Note: board is not tax deductable, but the house payment is. Therefore, I actually get more for my money (15 - 38% depending on the tax bracket) than I did when we had to board. Here's an interesting one: Buy a LQ trailer with a potty and a stove on a 15 year loan. Why? Because it qualifies as a second home (vacation home) and the payments (interest pretty much for the first 7 years) are a tax write off. You wonder how people buy those things? They get the write off. I haven't done this, but we have thought about it. Start some kind of an endurance or horse related business, then you can write off part of your horse expenses. Look at what you are paying in taxes every year and see if you can get some of that back to pay every day expenses. Bruce could get qualified to work on horses and write off expenses for going to rides... say, if he also works on horses. He will of course need to have his own horses at home to practice on. It's not increasing your bottom line, but it is using the money you make to the max. If you only want to work a service job, look for one with benefits... ie, Starbucks or Kinko's. Use Monster, Dice, and CareerBuilder. See what is going on out there in the market place. The job market is still iffy, and don't risk a good thing, but if you are luke warm about your job, check to see what's going on. I've had job search engines running for years just to keep an eye on the market in my profession. BTW, if you send resumes out, make sure to follow up with a phone call or email. These companies are now getting tons of electronic resumes. I hate doing this, but it really is necessary. I keep tabs on side contracts even though I now have a good full time job. I will work nights / weekends and use that money to buy horse things and pay for rides. There is less time to train when I work 2 jobs, but I don't have to ride fast. We can still go and have a great day. I do a lot of job related networking and keep up with those contacts. I also network between job opportunities and good people who need work so everyone wins. In CA, I used to do this for the finders fee. In NM for the most part I do it so that when I need an extra side job (read vet bill) I have a network of people who are willing to help me too. One last idea for increasing income. "Find" a ram. The ram just happens to be the Zuni fetish for prosperity... :) - Kathy Myers in Santa Fe, NM "just working 2 jobs these days..." =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Ridecamp is a service of Endurance Net, http://www.endurance.net. Information, Policy, Disclaimer: http://www.endurance.net/Ridecamp Subscribe/Unsubscribe http://www.endurance.net/ridecamp/logon.asp Ride Long and Ride Safe!! =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
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