The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

HP OPINION HATE THERE ARE BOTH LOW-RISK AND HIGH-RISK ALTERNATIVES TO THE TRADITIONAL WORK LIFE O *: Tam 54, so not old enough to retire yet — ut I want to. The thought on ‘going back to my job, 9 to 5, Monday to Friday, is kill- ing me. I am supposed to return Avg work next ionth. uu have any ideas on whatle could do in- stead? Marlene Dear Money Dear Marlene, fou are not . Let's look at the alternatives you CHRISTINE IBBOTSON ‘olumn have. If you're willing to take the risk that comes from forgoing a regular pay- cheque, the best way to im- prove your situation may be to start your own busi- ness. There are many people who start their own busi- ness in their mid-to-late 50s and do extremely well, achieving a million-dollar net worth within five-to-10 years. We're not talking about high-value, startups, but many ordi- nary businesses, such as accounting, auto repair, tc. a Won have a two-in- come household and one partner has a secure job that covers your expenses, thwhile for the other partner to strike out on their own. If starting a business is not for you and you like the industry you're in, why not negotiate for more? If you work hard and area valued employee, em- ployers want eep you happy. Delo wet turnover is higher than it's been in years, and it is extremely costly to a business to lose eone valuable. They will want to keep you. Arrange a meeting with your manager, recap your accomplishments, and say you would like to discuss your compensation or bet- ter yet a new position. If you are paid what you are New Hamburg INDEPENDENT ca 2022 VISITOR GUIDE (ATU worth and given the posi- tion you deserve, going in four or five days a week wouldn't beso bad after all. working for an em- ployer (new or old) or starting your own busi- ness isn't for you, then per- haps it is time for you to consider "semi-retiring” to improve your situation. In the simplest terms, if you focus only on four pri- mary steps, you will find you can progress pase {o- ward your finan: The more you can oad, mize , the more you will be able to acceler- ate your pace toward mak- ms your hard stop to work- . - Underspend on hous- ing. Only have one prima- ry residence, downsize to only what you need, and eliminate all debt, lines of credit and mortgages. + Underspend on trans- aitelals portation. Keep our car longer and only + Focus on increasing your earnings. imi spending and save asmuch as you can into registered accounts. + Bank your jncome raises, increasing savings rate to match your increased earnings. Remember that retire- ment is different for every- one and deciding to jump off the work wagon into your ray reti ment may not be support- ed by everyone. Early re- tirement is not a main- stream idea. Only you will know how J? HERES WHAT YOU CAN DO to reshape your money spending and future activ- ities for your happiness. Good luck and best wishes, Money Lady Christine Ibbotson is a national radio host, You- Tuber and author of three finance books, including the Canadian bestseller “How to Retire Debt Free & Wealthy.” Visit ask- themoneylady.ca, Send a question to info@t themoneylady.ca or or neck out her YouTube channel: ASK THE MONEY LADY ~ Your Canadian Finance Coach. JROPINIONS SIGN UP FOR OUR WEEKLY NEWSLETTER AT INSIDEHALTON.COM (Gale Price Of alo) (ox=) Catch a Great Deal! Br ntory Price. , POP Province, popular Cities or by th right price! @autocatchan Zz0z ‘SL sequaades ‘Aepsuny. | seneog oUNeO | LE woo"uoy}EYyapIsUt