Hello, this is Rob Coburn. Now we're going to talk about the beauty and freedom of entrepreneurship. No one can tell you though, when you can free yourself when you start when you leave your job, what you do that is up to you. However, it's best to research by reading books, watching videos like these, meeting other people and talking to them and see what they've done how they did it, but it's important to ask yourself, what's the worst thing that can happen? Let's have a look at some of the people I interviewed to make these videos. Shri Ranga.

Ramakrishnan is a young father born to a poor family in Bangalore in India. He worked very hard at school, got a good university education and a good job with Hewlett Packard. However, he didn't enjoy this good job. So he left the job secure job. When his wife was pregnant with his first child, and left to start a school up in Bangalore, with six months savings in his back pocket, so he had a six month runway and the school is successful. He's still an entrepreneur.

Also, I spoke to Jyotsna Ramachandran, again from India, this time from a different city, Chennai. And, again, she had six months in her bank account before she made the jump. She is a Kindle author, a publisher. She does outsourcing and she has many business interests, and she is still an entrepreneur as well today. But how much should you have saved? We can't tell you I mean, I can't say that six months is the correct amount of money.

It can be a year. It's entirely up to you. But what's the worst thing that can happen? You can go back to the life that you had So Mary shore did this. She is a UX designer from Connecticut in the US. And she had her own business.

She was working on it full time for a while. But in 2011, she decided she wasn't making enough money from it. The clients had dried up a little bit after the 2008 financial crisis. So she went back to work. She impressed everyone with the skills she'd picked up from the years of entrepreneurship, and then quit again a year later, with dozens more great business contacts in her back pocket. But Mary has interesting insights in a variety of things in entrepreneurship in the US.

She says you have to treat yourself the way an employee would be treated or a valued employee would be treated. You have to think about health insurance in the US. She gets health insurance through her husband who has a full time Job, however, that is expensive as well. So in the future, she may get health insurance through her company. But as much as you have to plan for taxes, you have to plan for retirement too. In the US as a corporate person, you get a 401 k But Mary has an SCP a simplified employee pension into which she invests 20% of her profits.

But there's a lot of difference around the world. The people in UK and Canada may be less concerned with health insurance than Americans will be. I'm making this video now from Thailand. I know plenty of Americans here of course, and of course they don't have health insurance. But if they have anything wrong with them, they will just go into the nearest hospital in Thailand and get health care considerably cheaper than it would be in the US but the tax situation Every country has different health insurance, health costs, retirement costs. They're all different in every country, and they're changing all the time.

So I would urge you to seek professional advice for all these issues. But you can mitigate your risks as we've seen with insurance, pensions and savings. But the fact is, the security of corporate employment is not as it once was. As an employee, you could be sacked, made redundant or forced to retire at any moment. But as an entrepreneur, of course, you get the ups and downs, but you can retire or semi retire when you want. And with decades of business experience under your belt, you'll probably be financially secure by the time you decide to stop working.

But the scary facts for the salaried classes are all to evidence, especially in Western Europe and America, where there will be three retirees for every one person working in 20 years time. The current fiscal arrangements are not fit for the people to be secure in retirement or ill health in Western Europe and North America. So it's better that we look after ourselves and our families as best we can. So it seems that entrepreneurship far from being a risky option may be the safest solution. My name is Rob carbon. I'll see you in the next video.