by Bryan Regnier

Back to school, encore career, or part time business?

You have the choice to learn and do anything in and with your life. Everyone has their own desires, wants, needs, must haves, and many other reasons. Some people choose to go to school, others choose a trade, others start a part time business, maybe as a hobby or to make extra income, and others follow their dreams and become entrepreneurs. Think to yourself, who are the most successful people in your life?

In this day and age, in this new economy, what path gives you the greatest opportunity to succeed?


Back to school

In today’s age, going back to school is a big risk. It’s just as big of a risk as getting into business or starting a part time business. You’re putting up a lot of money to go back to school, gain knowledge and hopefully advance in your career to increase your income. As we look at our millennial generation, generation x, and baby boomers, all of which have taken a chance to go back to school to further their education hoping to advance in their careers, the question we have to ask ourselves is… “Is it worth it anymore?”


Encore Career

So you’ve worked for 40 hours a week, for 40 years of your life, for 40% of your pay in retirement(average). Lord knows that is not enough to live the lifestyle you’ve hoped for when you retire. The average household income in 2014 was $53,891 and it has fluctuated right around that number since then. So if you take 40% of $53,891, you get $21,556. Divide that by 12 months and you get $1,796 per month. Let’s say the current tax rate is 15%. Your take home, net income per month is $1,526 or $18,312 annually.

We all know that living off of $1,526 isn’t enough to do the things that you want to do and pay your monthly expenses in this time period. That’s not even factoring in healthcare costs if you don’t receive those benefits during retirement.

That’s just one scenario, a scenario that a lot of baby boomers are in right now. That’s if they’ve saved anything for retirement.

Now you can see why our baby boomer generation is looking for alternatives to supplement their income in retirement. It’s kind of gut wrenching to see one of the hardest working generations that’s ever walked the earth dealing with circumstances such as this during the years that they’ve one day hoped would’ve been able to travel, buy a vacation home, etc…

An encore career could be a way to supplement income. You’re back to square one. Now you have to find a part time job that is going to pay you a decent wage to bridge the gap between what you’re making and what you need to make. Again, is it worth it?


Part Time Business

In life, there are no guarantees. There is no guarantee that the company you work for is going to be around when it comes time to retire. It could happen at a moments notice and your job just got shipped overseas. The one’s who think it won’t happen to them are the one’s it happens too. Look at Sears, KMART, Borders, etc… Strong companies during their prime. Then the internet happened and Amazon is taking over. Wal-Mart is shutting down stores, they’re delivering groceries to your home, you can buy a book on your kindle or ipad and you can pretty much run your business from your phone.

There is one thing that no one can ever take away from you, that’s your faith and your effort. The experience you’ve gained from working in whatever career that you’ve chosen to work in or accepted for the time being, doesn’t have to be the end all be all. That experience you have, is a key ingredient for success. The business relationships you’ve created along the way, is a key ingredient for success. Your work ethic is a key ingredient for success.

When it comes to starting up in a part time business, it’s key to get started before you retire. In some cases, it could take you a while to get things up a going. No one has become an overnight success. You ask any very wealthy and successful entrepreneur and they will tell you if 5, 10, or 15 years of hard work and sacrifice is an overnight success, then yeah, I was an overnight success.

Having a part time business is not for everyone but if you want to have time, control, and the income you desire, show me a better way to put control into your own hands to do it.

What people don’t understand is that to start a part time business, you can start with nothing. You can find business opportunities or join a network marketing company for less than $500. You can buy into a franchise opportunity for $10,000 or less up to $5 Million or more.

There are opportunities there for the taking. If you’re going to gamble on going back to school, with no guarantees, or starting a part time business, I’m going to gamble on the part time business everyday of the week, because at least I know that if I’m going to work hard, it’s going to pay dividends and eventually give me the lifestyle and income I desire. Having a part time business, gives you the opportunity to pay off any debt you may have started the business with as well.

Everyone has their own opinions about network marketing companies, myself, I love them because even if you never did anything with the opportunity you were given, you’re going to learn a lot about leadership, sales, and business IF you show up. Most people are willing to work harder for someone else than they are for themselves.

So when you look at the most successful person in your life… odds are, they either own a business or they’re in sales. Both of which you don’t need an education for.

The most important career you can find security in life, is sales. You can find an opportunity anywhere with any company if you’re willing to work. You’re probably thinking, I can’t sell, I can’t do that. Well if that was true, how did you get your job? How did you get your wife? You had to sell someone on yourself at some point in time in your life. How did you learn to become an engineer, architect, doctor, dentist, attorney, nurse, just to name a few, overnight? So what makes you think that you’ll learn sales overnight? It’s just like anything else, it’s a new skill that you must dedicate some time to learn.

Grant Cardone, one the best sales trainers of all time in my opinion, wrote a book on it, Sell or Be Sold. You’re either selling someone on something or someone is selling you on something.

If you want to earn more, you need to learn and become more.


I hope you’ve gained value from this article, please share with someone you believe could benefit from it on your favorite social media feed to the left.


If you have any comments you’d like to add or ask a question, do so in the comment section below. We’d love to hear from you!

You can check out Grant’s book here, Sell or Be Sold.

Successful VetrepreneurIf you’re looking for some direction or finding the right opportunity for a part-time business, as a complimentary free gift, we can help guide you, simply click here.

“I help VETERANS increase financial confidence, better position themselves financially, and achieve their financial goals and objectives through financial education, entrepreneurship, and implementation.”

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Bryan Regnier
About Bryan Regnier
Bryan is a Financial and Startup Entrepreneur Coach and Mentor serving and helping VETERANS increase financial confidence, better position themselves financially, and achieve their financial goals and objectives through financial education, entrepreneurship, and implementation.
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Back to school, encore career, or part time business?