Marks Investing Blog

I just read an article in the April 25th edition of Newsweek regarding “Beached White Males” or for the acronym lovers – BWM.

“Beached White Males” are the new breed of long term unemployed – not your normal uneducated drop-outs but highly educated and skilled professionals. The BWM’s were once guaranteed employment for life and could jump from one highly paid job to the next.

Due to the “Great Recession” job opportunities are thin on the ground and having a MBA counts for very little these days. Everyone is downsizing and culling the middle management fat which most BWM’s were located in.

BWM’s can find themselves unemployed for months and even years. Once known as the “Bread Winners” are now the “Bread Losers”.

Once unemployed the lack of money within the family home can have an enormous strain on all family members.

This is all very scary stuff and the “Great Recession” is not going away any time soon so how can you reduce the reliance on the main source of income?

Well first you need to understand that the main source of income for most is from being an employee. An employee is not in control of their job and can be made redundant at anytime.

You need to focus on reducing the total reliance of your employee income if this is the only source of funds.

So how do you do that?

Its not easy but one way is to start looking at your hobbies and see how you can monetize them. For example if you manage a weekend cycling club look at hosting weekend away tours where each member pays to attend. The aim here is to build up another source of income that overtime may generate a good chunk of money coming into the family home.

I have looked at Internet Marketing and found that a complete waste of time. The only ones making real money in this game are the ones selling you their products. You ultimately make little in return for the effort.

I am currently looking at Forex trading to generate extra income. Its not for everyone but I love it because there is no reliance on time, location or other people. Its you and the market. You can trade anywhere in the world at anytime. I am very much a newbie but over time I am very confident that Forex trading will be a major source of income for our family.

The point of this post closing off, is to turn off the TV and THINK.