Haha.. if you are the Cat, obviously you can play golf or any sports at any time and don't have to be in your shirt-sleeves and tie pretending to be working but having golf on your mind or having to find work in a prank or staged protest march in the streets to supplement your miserable income.. :)
Wednesday, 3 June 2009
Monday, 1 June 2009
Wealth is Health
The first concept we must understand to have healthy bank account(s) is about active (passion) and passive incomes.
Active income: You are paid according to the hours of work (or sometimes idling :) you do at the office. 90% of the population of a town or city earn wages or salaries. Some very talented people earn a living by doing what they are passionate about (how lucky) they are but to most people their passions will never generate a decent income to make a living. So, that's why most of us who are passionate about playing tennis, golf (except for winning the occasional portable stereo sets), badminton, music, painting, singing or even teaching and training/coaching people have to have a day job earning a monthly or weekly salary. For us to be able to engage in our passions full time we need to generate a passive income.
Passive income: You are paid perpetually (10% or less of the population are here), however to me real wealth or financial freedom is not really measured by how much money you have but the time and ability to enjoy it and to help others to become healthy and wealthy as well.Quite obviously these people are free to ;)
Have a proper breakfast at home, go the movies at any time of the day, laze around at the beach whenever they feel like it, go shopping at non-peak hours/season without having to line-up at the cashier to pay, write blogs haha.. :) and most important of all have time to be with the family and participate actively to watch their children grow up. I really enjoy and appreciate whenever I have the opportunity of sending and fetching my son to/from school and perform the zohor prayers then have lunch with him. I wish I will have enough passive income to do this everyday for at least until he graduated from the tadika and primary school.
Based on what I understand from the definition of financial freedom, my specialist doctor friend and my dentist have not generated a sizeable passive income from their years of hard work, quite simply because all of us have only 24 hours only in a day, although doctors, I firmly believe, are well-trained to work up to 20 hours a day :).. However doctors and lawyers and most professionals must meet patients and clients. It's active income. So do salesmen. Most salesmen I met are not passionate about selling and its sad because some actually hate selling. Sadder still, most of us do not have a passive income. Some of these professionals may look wealthy but they do very much need their salaries, commission and wages just like the rest of us.
We must now ask ourselves how much of our income is passive, including from all our unit trust investments and the interests and dividents from our bank accounts. The key is to be involved in at least 1 source of passive income every year. Some people I know generates passive incomes by taking up an agency to sell life and investment-linked insurance for a year until they are very competent and have built up a base of clients, then move on get a CFP licence to be a Certified Financial Planner to sell unit trust and other financial investment instruments which generates multi-level income and some even start with product MLM or direct selling to leverage on their existing networks.
Here's some examples of the sources of passive incomes that you may want to study according to your talent and/or passion:
* Investments that generates monthly or daily returns* Songwriters that earn perpetual royalties from their songs * Writers who earn royalties from their book sales* Insurance agents who gets multi-tier commission throughout the lives of their insured clients* Internet entrepreneurs who sell virtual and real products* Direct-selling members who receive multi-tier monthly income* Various jobs that earn royalties e.g. actors, computer soft-ware developers, video game inventors* Prospect List- builder who earns weekly, monthly rentals* & last but not least, *Real estate owners who rent out land or properties to individuals and corporations*
We must always ask ourselves:“How much time everyday have we devoted creatively & innovatively to generate passive incomes for ourselves and family? Don't you time it's time to wake up and do so?”
These 2 guys are doing something quite successfully, please take a look and maybe there's something to learn from them:
http://www.ecommercemastery.com/provider8/idevaffiliate.php?id=5350
http://www.rahsiawangpantas.com/index.php?ref=haliang1219
Active income: You are paid according to the hours of work (or sometimes idling :) you do at the office. 90% of the population of a town or city earn wages or salaries. Some very talented people earn a living by doing what they are passionate about (how lucky) they are but to most people their passions will never generate a decent income to make a living. So, that's why most of us who are passionate about playing tennis, golf (except for winning the occasional portable stereo sets), badminton, music, painting, singing or even teaching and training/coaching people have to have a day job earning a monthly or weekly salary. For us to be able to engage in our passions full time we need to generate a passive income.
Passive income: You are paid perpetually (10% or less of the population are here), however to me real wealth or financial freedom is not really measured by how much money you have but the time and ability to enjoy it and to help others to become healthy and wealthy as well.Quite obviously these people are free to ;)
Have a proper breakfast at home, go the movies at any time of the day, laze around at the beach whenever they feel like it, go shopping at non-peak hours/season without having to line-up at the cashier to pay, write blogs haha.. :) and most important of all have time to be with the family and participate actively to watch their children grow up. I really enjoy and appreciate whenever I have the opportunity of sending and fetching my son to/from school and perform the zohor prayers then have lunch with him. I wish I will have enough passive income to do this everyday for at least until he graduated from the tadika and primary school.
Based on what I understand from the definition of financial freedom, my specialist doctor friend and my dentist have not generated a sizeable passive income from their years of hard work, quite simply because all of us have only 24 hours only in a day, although doctors, I firmly believe, are well-trained to work up to 20 hours a day :).. However doctors and lawyers and most professionals must meet patients and clients. It's active income. So do salesmen. Most salesmen I met are not passionate about selling and its sad because some actually hate selling. Sadder still, most of us do not have a passive income. Some of these professionals may look wealthy but they do very much need their salaries, commission and wages just like the rest of us.
We must now ask ourselves how much of our income is passive, including from all our unit trust investments and the interests and dividents from our bank accounts. The key is to be involved in at least 1 source of passive income every year. Some people I know generates passive incomes by taking up an agency to sell life and investment-linked insurance for a year until they are very competent and have built up a base of clients, then move on get a CFP licence to be a Certified Financial Planner to sell unit trust and other financial investment instruments which generates multi-level income and some even start with product MLM or direct selling to leverage on their existing networks.
Here's some examples of the sources of passive incomes that you may want to study according to your talent and/or passion:
* Investments that generates monthly or daily returns* Songwriters that earn perpetual royalties from their songs * Writers who earn royalties from their book sales* Insurance agents who gets multi-tier commission throughout the lives of their insured clients* Internet entrepreneurs who sell virtual and real products* Direct-selling members who receive multi-tier monthly income* Various jobs that earn royalties e.g. actors, computer soft-ware developers, video game inventors* Prospect List- builder who earns weekly, monthly rentals* & last but not least, *Real estate owners who rent out land or properties to individuals and corporations*
We must always ask ourselves:“How much time everyday have we devoted creatively & innovatively to generate passive incomes for ourselves and family? Don't you time it's time to wake up and do so?”
These 2 guys are doing something quite successfully, please take a look and maybe there's something to learn from them:
http://www.ecommercemastery.com/provider8/idevaffiliate.php?id=5350
http://www.rahsiawangpantas.com/index.php?ref=haliang1219
Saturday, 30 May 2009
Health is Wealth
I have recently been introduced to a health supplement by my lovely neighbour which has drastically improved my energy level and my health generally. For further information you may visit the following websites:
http://www.colostrumresearch.org/
http://www.newimageasia.com/
Everyone wishes to be healthy and wealthy enough to have the luxury of time to do what we like, be with our loved ones at any time or at all times and earn an income as well without joining the rat race. You know the - wake up at 5 AM, leave home before sun-up by 6:30 AM the latest to arrive at the office by 8:30 AM and leave the office after dark. But this wish is only a wish and remains a wish thoughout our employment lives until we are retired at 55 years of age or is it at 58 now for the government (civil) servants, as if other servants are not civil as well, ha ha..
Well for everyone who are like-minded - I mean people who thinks that there must be a better and easier way to live this short and temporary life of ours, please consider this:
Why is it that most of us, the humankind I mean, blew away our health in the course of earning a (decent) living and accumulating some wealth and then blew away our financial wealth eventually trying to save our health?
Why is it that talented, intelligent homo sapiens- with EQ & ESQ thrown in as well, with a tertiary level education, years of professional experience and impressive level of training on various areas of knowledge & expertise and have a wide network of professional and social contacts, could sell millions Ringgit worth of products and/or services for our employers, are afraid and lack confidence to sell anything to make money for ourselves?
http://www.colostrumresearch.org/
http://www.newimageasia.com/
Everyone wishes to be healthy and wealthy enough to have the luxury of time to do what we like, be with our loved ones at any time or at all times and earn an income as well without joining the rat race. You know the - wake up at 5 AM, leave home before sun-up by 6:30 AM the latest to arrive at the office by 8:30 AM and leave the office after dark. But this wish is only a wish and remains a wish thoughout our employment lives until we are retired at 55 years of age or is it at 58 now for the government (civil) servants, as if other servants are not civil as well, ha ha..
Well for everyone who are like-minded - I mean people who thinks that there must be a better and easier way to live this short and temporary life of ours, please consider this:
Why is it that most of us, the humankind I mean, blew away our health in the course of earning a (decent) living and accumulating some wealth and then blew away our financial wealth eventually trying to save our health?
Why is it that talented, intelligent homo sapiens- with EQ & ESQ thrown in as well, with a tertiary level education, years of professional experience and impressive level of training on various areas of knowledge & expertise and have a wide network of professional and social contacts, could sell millions Ringgit worth of products and/or services for our employers, are afraid and lack confidence to sell anything to make money for ourselves?
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