There’s no doubt about the fact that the quality of one’s life is directly linked with amount of money they have access to. I specifically say that it’s money they have access to instead of money they have at their disposal in cash because it’s not about how much you have in your pocket as some cash you can spend at will. If anything that represents an approach to handling your finances which eats away at the wealth you might have managed to build up. Money sitting idle as cash loses value over time.
So, since money is indeed an important factor in determining the quality of one’s life, how does one go about incrementally putting into place those structures which improve the quality of their lives?
Register a Business and Deploy Your Skills through the Business
There are no two ways about it – if you want to build up any form of wealth you need to take advantage of the favourable market conditions afforded to businesses over individuals. As an income-earning, tax-paying professional, the income tax you have to pay is deducted automatically from your salary before you receive that salary, but as a business the tax you have to pay is assessed at a specific date over a period of a year and you have until then to settle your tax bill. The advantage comes into effect however when you consider that certain expenses can be put down as tax-deductible business expenses, which means you can make use of some of the running capital you have to explore further opportunities to generate revenue.
So register your business officially if you want to incrementally improve the quality of your life. It’s a great base from which to build up wealth.
Exploring Newly-Accessible Markets for a Unique Business Advantage
If you can register your business’ primary address in a place like the Seychelles where businesses don’t pay income tax on income earned beyond the country’s own borders, then why on earth wouldn’t you want to do that? Many other states offer tax free status for businesses and you can take advantage of that if yours is a remotely operated business.
I’m not suggesting that you operate a web based business out of an address registered in a tax haven, but merely bringing your attention to the process of exploring opportunities beyond your immediate environment when you have a business.
Find a Major Focus to Excel In
Naturally one would explore quite a few different business avenues to pursue if they wanted to incrementally improve the quality of their lives, but one of these many avenues pursued should be one in which you seek to establish yourself as a leading authority. Think something specific, like pet friendly pest control as just an example. A market that specific not only in itself solves a specific problem which improves the quality of the lives of its customer base, but also has the dominant player in that market enjoying what is pretty much a guaranteed income channel for as long as they are in business.
Everything else will fall into place and money will become available for you to do with it as you please, as part of improving the quality of your life of course.