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?