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Friday, May 15, 2015

The Self-Employed Middle Class Hardly Exists Anymore

http://www.peakprosperity.com/blog/92594/self-employed-middle-class-hardly-exists-anymore

Many people rightly aspire to improve their household's state of resilience through actions such as storing emergency supplies, starting a vegetable garden, and learning basic readiness/maintenance skills, etc. In general, resilience boils down to self-reliance. But like it or not, in our largely urbanized society, true long-term self-reliance needs to include some measure of financial independence.
By 'financial independence' I don’t mean so much wealth that you no longer have to earn a living. Rather, in this discussion, financial independence means owning income streams that you control lock, stock and barrel. Some of this income may be passive (for example, royalties earned off a patent you own) but for most people, 'independent' income is actively earned via their own labor (i.e. self-employment).
Of course, the easiest path to financial independence is being born into a wealthy, well-connected family. But since few of us win that born-rich lottery, this article addresses the important question: How do “the rest of us” carve out financial independence?

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