I remember being in Korea during the early 70s. Korea then was a 3rd World emerging economy, struggling to over come decades of war torn turmoil.
The Working Class families worked feverishly, (14hr days, 6 -7 days a week) scrimping and saving to get ahead for the first 20 years. Education was not free nor cheap and with the average family income approx. $125 per month, it was difficult to imagine how anyone could possibly work their way out of the “Rat-Race”. But some how they persevered and by the time the average couple was in their mid- 40s they had a small home, and a family business to nurture. This was the model of Economic Prosperity in Korea during the early 1970s.
The family business was their retirement – a working retirement.
As demanding as it may seem to Americans, running and operating a small “Mom and Pop” business was far less demanding then the average work week on “Slave Wages” for Koreans. And it was the only assets they could bestow the children when they departed.
I work in Engineering, my wife is an Architect, and we struggle in today’s economic environment. Fortunately I planned ahead knowing eventually I would want to slow down from the “Every Day Work-a-World, Rat-Race Pace” we have come to know and accept as normal.
Meet my Small Cottage Industry Machine Shop.
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Stuffed into my garage is enough production equipment to manufacture. I recently was invited to bid on some “Green Tech” parts that would run by the 1000s. Its not a “Gold Mine” by any stretch of the imagination but it does support itself with enough change left over to make a good difference on the family budget.
No Time Clock, No Boss, and I can burp, spit, scratch my nuts when I feel like it. Best of all – its all mine