> I'm on a single income, I get paid well now, and could > afford mortgage payments a house in the south bay area > (although it would take most of the income). But I'm > afraid if I loose a job, I will not be able to find > one in IT locally that pays as well. That will probably happen. Plan for it. I would recomend not living in the biggest house you can afford. Don't swell your possessions to match your income. Build assets with that income you save. (A house is not an asset).
Read "Rich Dad Poor Dad" > My only solution is to find a woman who makes roughly > the same so we can support each other when one of us > it out of work, Call me old fashioned, but I think one parent should be dedicated to raising kids. Single/Young married people plan with both incomes, therefore, can't make the choice to raise their kids when the time comes. > or to start my own business and > hopefully make the same amount of money at it. Ask people who own businesses. The cash flow of a business is much less constant than that of an employee. Much less. Long deep droughts. Do like businesses do. Plan to be unemployed half the time. When you're working, put away money in preperation for being unemployed. Protect your monthly expendatures. Never let them go above a certain amount. Try to build savings/investments/assets that cover your monthly expenses. Build a wide range of assets. I would much rather have 25 small sources of income than 1. What are the odds that all 25 sources of income will stop at the same time?
