Tuesday, April 24, 2012

Getting Rich staying at Home (series 3)

Five (5) Reasons why some people may never quite their Jobs

If you reside in the suburbs, on close observation of the flow of traffic will reveal a lot to you. There is this adrenaline rush into the city which holds quite a lot of edifice architectural designed buildings called offices. Janitors, cleaners, bankers, receptionist, sales representatives, lawyers, doctors, artisans, craftsmen and so many, all in the rush to get to their various offices before 9am. This 9am to 5pm has really been a safe haven to quite a number of employees as they get to pay their taxes, utility bills, medical bills and every other legal deduction.

Coupled with the reality that the mortgage payment has to be made to actually own the house in the nearest future say 10 to 15 years or more. Each time employees are faced with the reality of having a decent life been independent; these are always a route of escape.

1.    I have got family too feed: Realistically speaking everyone has got to eat, this is one of the most important factor of Abraham Maslow’s theory of hierarchy of needs. Yes as the bread winner of the family, you need to make provisions for your family, but at whose expense? The pay check comes in handy, but that’s after every deductions has been made in form of taxes. You are left to live within the left over. In this case the available becomes the desired reality.
2.    I have got mortgage to pay: Necessarily you need that shelter over your head to keep you or family safe and warm, again at whose expense? In paper the house is yours, in reality is it your? There is no rule or law stating that the debt must be paid from your monthly pay check.
3.    I need to work hard to get a raise: Oh really, this is absolutely true unfortunately it is the right advice for the 19th century economy. Working hard does not necessarily translate to greater income or take home pay. If it were so, the man in the assemble chain in Apple industry should have been richer than Steve Jobs. No matter the raises they get it is still a far cry from one tenth of the CEO’s wealth.
4.    The Longer I work the more I get  in pension upon retirement: How humourous, well this is not to smite pensioners, yet how many pensioners are able to afford a good health care after retirement, without having issues with payment and insurance. It doesn’t matter your earned income. Pension funds upon ‘retirement’ will never get as high as your salary put together over the years you may have worked.
5.    I have got a safe secure job: That’s great congratulations, a safe job you have but a secured job is not your decision to make. Has it ever crossed your mind why the thought that you have a safe and secure job. Who gets laid off, retrenched or retired after a period, you or the Board? If you are so sure your job is secure, walk up to the boss and ask ’what three (3) things would you do to have me continue working for you? This is just a piece of advice, but make sure you have got the hearth for the response.
A lot of people have misconstrued the idea of staying at home and getting rich. It’s just not enough to quit. It’s all about freeing up your time for yourself to give a deep thought of how life could be in the next 15 to 30 years.

It is obvious that Millionaires are made on a daily basis. Hitting the Million dollar mark is not the target, staying in that realms are what counts.
Subsequent post we would be unveiling the realities of Getting Rich in your comfort zones.

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