Often we hear the term - Financial Freedom in every nook or corner be it bill board, Newspaper, magazines, e-newsletters or from word of mouth. Financial Freedom is not rocket science to be achieved BUT worth the effort of time investment.
Almost all of us are running at very high speed in treadmill due to bottom line pressure. We're motivated to run faster from the rest so that we can be a winner at the end of the tunnel. You still need to continue running without getting off the treadmill.
Now how would you feel if you can step down from the treadmill and think wisely to build steps in carving a decent passive income? I have done and in the second phase of building the Breakthrough , How about you ???
Nourish your life with healthy food and nutrition.Achievement and life success appear with peace of mind and well developed spiritual life - RS.
Sunday, May 30, 2010
Shocking reality in current millenium
It is 2010 and as usual many people will reach the age for retirement. The question is 'Are you ready to Retire ?' to sit on a long couch and rest without any worries on $$$ stability.
According to survey 90% have answered 'NO' and 6% said 'YES' and remainder 'MAYBE'.
In reality 90% of people expected the pension plan or insurance (Life policy) to pay them off but what is most shocking is that how long does this money sustain ?
I did a simple calculation (based on Malaysia stats), on Average EPF payment is around RM250000.
1. Most of the EPF fund will be used to settle the balance housing loan.
2. The money will be subsidized for the children education fund - Medical, engineering etc.
3. Hospitalization and sickness.
4. Children's marriage etc etc etc.
5. Some would have been dead due to illness.
After paying off, the remainder might sustain for another 3-5 years at maximum and they need to start living depending on childrens support and etc. Now the knee-jerking question is ' How long would you live comfortably if you lose 50% of your income ?'
Now you decide which category you would want to be either in 90% group or the 6% group. The 4% of group will not lead anywhere as they are unable to determine what is best for them and they need some coaching to lead them in correct path obviously adding to 6% group.
There are only 2 ways to lead a Financial Freedom ; work smartly during your young age to reach financial freedom and be in control of the situation.
According to survey 90% have answered 'NO' and 6% said 'YES' and remainder 'MAYBE'.
In reality 90% of people expected the pension plan or insurance (Life policy) to pay them off but what is most shocking is that how long does this money sustain ?
I did a simple calculation (based on Malaysia stats), on Average EPF payment is around RM250000.
1. Most of the EPF fund will be used to settle the balance housing loan.
2. The money will be subsidized for the children education fund - Medical, engineering etc.
3. Hospitalization and sickness.
4. Children's marriage etc etc etc.
5. Some would have been dead due to illness.
After paying off, the remainder might sustain for another 3-5 years at maximum and they need to start living depending on childrens support and etc. Now the knee-jerking question is ' How long would you live comfortably if you lose 50% of your income ?'
Now you decide which category you would want to be either in 90% group or the 6% group. The 4% of group will not lead anywhere as they are unable to determine what is best for them and they need some coaching to lead them in correct path obviously adding to 6% group.
There are only 2 ways to lead a Financial Freedom ; work smartly during your young age to reach financial freedom and be in control of the situation.
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