Saturday, 10 March 2012

Need an Income to get an Income

Since my son was diagnosed as autistic last year we have been startled by the statistic that only 1 in 6 autistic adults in the UK manage well enough in the community to hold down a full time job.  Pretty frightening when you consider that many typical offspring also cannot afford to leave home because of student debt and high house prices etc.    So what do you do when faced with the possibility of financially supporting your children not only for  your lifetime but for theirs as well?  Add to this the double whammy that supporting a children with autism needs a lot more extra time for visits to therapists etc. (not to mention a preschooler thrown into the mix)  and having a standard employer becomes a nightmare.
What I need is a passive income - that is one which will bring in the pennies but not require  the effort of standard working hours or putting it another way earning money whilst I do other things- the holy grail for many I suspect!
I have decided that the long-term plan should be to become a landlord and  therefore be able to pay a management firm to manage a property for me - very little effort on my part so it ticks the "passive income" box, but fiendishly expensive to start.  Lets face it I can't buy a house outright (no real savings!) I can't get a mortgage (no income so not a risk the mortgage companies will take) so a lost cause perhaps?
Never one to give up at the first hurdle I have set myself the challenge of saving £70K over the next 10 years by unconventional means; car boot sales,e-bay,etsy, and hopefully other sources as and when we find them.  All this without compromising the quality of life we have now!  Maybe just for once I have bitten off more than I can chew - we shall see!

savings to date  - £0

No comments:

Post a Comment