As midwives, we didn’t go into this profession for the money, but still would like to support our own families and dreams. We would like a food on the table, nice car, home, retirement, and a vacation once in a while. Those things all cost money. Most people are taught from very young: “Go to school, get a good job, and save for retirement.” Those 1970’s financial mantras don’t work in today’s society! Inflation since President Nixon has taken off the Gold Standard has sharply risen post Covid. The last 100yrs, our dollar has lost 99% of its purchasing power. Our income for working a job doesn’t keep up with inflation rates and we are always having to exchange more time for money. That is a large part to why past generations could have one person stay at home and live off typically father’s income. Now both parents are struggling to make ends meet with two jobs and affording day care for their kids!
There is a breaking point where there isn’t anymore time left. As midwives, we need to start changing our mindset to creating income streams and businesses from being employees and self employed. Our time is our most valuable asset and needs to be treated that way. There’s a “secret” that’s known to the rich, but that most people don’t know about…And that is: You’re never going to become wealthy trading dollars for hours. Dollars for hours is your 9-5 day job… and it means that in order to make more money, you have to work more hours. The truth is, there are only so many hours in the day. And if you fill them all up with work, things are going to fall apart…Like your health. Your relationships. Your sanity.
Do you really want to do that? What good is having more money if you don’t have the time to enjoy it? Nope. Instead, you need to look to what the wealthy do in order to keep the money coming in, even while they aren’t working: One of the key principles to success is leveraging assets and having assets create passive income for you. I usually refer to this when talking about real estate. But, you can leverage the same “idea” of using other people’s resources and creating passive income in other ways, too. An example of this is selling other people’s products. Think about it for a second…Businesses have already done the heavy lifting by creating the products, you can leverage their work and sell these while collecting passive income.
I encourage each and everyone of you reading this to see what side hustles you can start to grow into a self sustaining business. What products, services, or ideas do you have that can be converted into a larger scale business that brings you in money while you are awake or sleeping. We can still all be midwives and catch babies, but I want it to be on your terms and not on the financial system’s terms. We can truly create a midwifery practice with our ultimate mission and values if financial freedom from multiple income streams is created. I would love to talk with each and every one of you about your long term financial goals and how we can create that road map to follow and get there. Too many dreams just stay dreams. Let’s turn your dreams in to a reality!