How Can You Prepare Yourself for Economic Changes and Your Retirement Days? Don’t Stuck In Case You Lose Your Job

I met a few people on social media recently. The lives of these people and what they do in one day seemed very interesting to me. Let me introduce two of these guys to you:

At first glance, these guys are firemen. So, they are public officials. They probably didn’t have any higher education. They only work two days a week. They have employment security, regular salaries and retirement plans. They also invest professionally three days a week. Their “side income” is quite high. These people have made great fortunes with their investments. Lastly, they can relax and spend time with their families two days a week.

One of these men buys old houses and rents them out. Currently, he owns forty-five houses with a monthly return of ten thousand dollars after paying debt installments, taxes, maintenance and repair costs, management and insurance expenses. His salary as a fireman is approximately 1200 dollars. He is five years into retirement and his goal is to increase his annual income to two hundred thousand dollars when he is 56 years old. Not bad for a public official with four children.

The other person does company analysis and deals with stocks and long-term transactions. Its current portfolio is over three million dollars. If he turns it into cash, he gets ten percent interest per year, which equates to three hundred thousand dollars. In all market conditions. But be sure his annual income is much more than that. Not bad for a public employee with two children.

Both of these men could have retired in their forties after twenty years of investment. But they chose to work and take advantage of retirement as public officials. Now, they have the advantage of operating in both areas, both as employees and investors.

I know many people who have a lot of money in their retirement accounts but don’t feel secure. They make up their retirement savings from the money they earn by working. Unfortunately, they know very little about investment. They wouldn’t know what to do if their savings melted away and their working life ended.

In times of major economic changes, wealth changes hands. Regardless of your economic situation, it’s important to invest in financial education. Because when time and conditions change, it is necessary to be prepared for the new situation. So you won’t be afraid. Although no one can see the future, it is good to take precautions and be prepared for all conditions. Therefore, it is necessary to start obtaining information as soon as possible.

Economic changes have already begun due to company sales and mergers. A businessman who recently sold his company had fifteen million dollars in his account, but those who worked with him had to look for new jobs. In such cases, anger is felt along with sadness at farewell parties. Employees realize that they make their bosses rich, not themselves, in return for years of hard work.

The truth is that bosses are not supposed to make their employees rich. Their responsibility in this regard is only to ensure that salaries are paid. Being rich depends on everyone’s own will and effort. What to do to become rich starts when the salary is received. If a person is not good at managing finance, he cannot continue to have wealth, even if he has all the money in the world. He eventually loses it all. The important thing is not to gain wealth and prosperity, but to sustain them.

If you can manage your money wisely, educate yourself about being an investor or a company owner. So, you are on your way to achieving personal wealth and financial freedom.

The difference between someone who is rich and can maintain it and someone who is not, is basically the way they use their money and leisure time.

Learning to invest and allocating time and budget for it saves much more free time and money in the long run. Do your best while at work, but also make sure you make efficient use of your wage and free time after work. It is not very wise to enrich others with your lifelong labor. If you make a commitment to work for yourself, you can achieve financial freedom in time.

If you interested, I recommend you to read also these posts:

• WHICH PATH ARE YOU MORE INCLINED TO? (EMPLOYEE, SELF-EMPLOYED, EMPLOYER OR INVESTOR)
• MAKE MONEY IN A BETTER WAY
• YOU MAY LOSE MONEY BECAUSE YOU DON’T INVEST ENOUGH TIME

You may check these out also:

• YOU ARE THE PERSON TO TAKE CONTROL OF YOUR INVESTMENTS
• WHY FINANCIAL SECURITY IS MORE IMPORTANT THAN THE EMPLOYMENT SECURITY
• ARE YOUR RETIREMENT PLANS REALLY SAFE?

Latest posts:

• The Simplest Way to Invest #3
• The Simplest Way to Invest #2
• The Simplest Way to Invest #1
• Three Ways to Learn How to Own a Business
• How Can You Prepare Yourself for Economic Changes and Your Retirement Days? Don’t Stuck In Case You Lose Your Job

Earn More With Less

The difference that separates a good investor from a bad investor is that the good investor can make more money with less money.

Leverages allow us to do more with less force.

The Key Is Leverage

People have sought to do more work with less labor since they lived in caves. When a child was old enough, he was taught to use a spear for hunting and defending himself. Spear has provided a great deal of convenience to human beings in their cruel environment. Over the years the spears have shrunk in size and the bow and arrow have been developed. This was a superior technology. Compared to a spear, the bow and arrow allowed people to do more with less.

As time progressed, man learned to tame horses. More distance could be taken on horseback in a shorter time and with less fatigue. It was an important convenience used not only in transportation and agriculture but also in wars.

When gunpowder was invented, the rulers who owned the cannons triumphed. Indigenous peoples such as the American Indians, the Hawaiian people, the Maoris of New Zealand, the Aborigines of Australia, and many other cultures lost to gunpowder.

Just a hundred years ago, cars and airplanes replaced horses. Once again, these new technologies have been used in wars and peacetime for some work. Telephone, radio, television, computer and internet networks all also enable people to do more with less. Actually, they are all levers. Each breakthrough new invention brings more power and wealth to those who have access to these tools.

If you want to be rich and not a victim of global changes, it is essential that you develop the leverage that is stronger than all others: Your mind. If you want to be rich and protect your wealth, your mind, your financial education, is your strongest lever.

You might say: “I don’t know anyone who can teach me finance. I haven’t heard of such an education. There is nothing to do.” Perhaps because of this mindset, your chances of reaching great wealth and, more importantly, protecting your potential wealth are extremely low. Your chances are low because you are using your most important asset, your mind, against yourself. You’re using your mind to find excuses instead of making money or finding solutions. Remember that your mind is your strongest lever. If you can’t control your mind, you can’t control your life. Excuses are easy to find. For this reason, unsuccessful people always have an excuse.

We Are All Born Rich

We are all born rich. Each of us has been given intelligence, the world’s most powerful lever. So instead of using our minds to make excuses, let’s use it as leverage to make us rich.

In summary, the difference between cavemen and monkeys is leverage. The difference between the rich, the poor, and the middle class is leverage. The difference between savers and investors is leverage. A well-educated and disciplined investor can achieve higher returns by taking much less risk and spending less money. But this requires leverage. And in order to have leverage it requires you to train yourself and use your mind wisely.

If you want to learn more about investing, you may read my YOU NEED TO SAVE MONEY post.

Also, check these out:

• THE FIRST RULE OF GETTING RICH
• WHY ACCOUNTING KNOWLEDGE IS NEEDED
• WHY YOU NEED TO INCREASE YOUR FINANCIAL IQ
• MAKE YOUR INVESTMENTS TO EARN
• THE KEY TO BEING A SUCCESSFUL INVESTOR

Here are my latest posts:

• The Simplest Way to Invest #3
• The Simplest Way to Invest #2
• The Simplest Way to Invest #1
• Three Ways to Learn How to Own a Business
• How Can You Prepare Yourself for Economic Changes and Your Retirement Days? Don’t Stuck In Case You Lose Your Job