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Tired of
weaking up early morning, go to work, go home and sleep, then weak
up work and sleep...same route over and over again?
do you want
to have a freedom in your life and retired as young as you could?
and not
worrying about your financial obligations?
read this
article and be motivated.
Robert
Kiyosaki author of Rich Dad Poor Dad defined it as the "Rat Race".
"If you look at the life of the
average-educated, hard-working person, there is a similar path. The
child is born and goes to school. The proud parents are excited
because the child excels, gets fair to good grades, and is accepted
into a college. The child graduates, maybe goes on to graduate
school and then does exactly as programmed: looks for a safe, secure
job or career. The child finds that job, maybe as a doctor or a
lawyer, or joins the Army or works for the government. Generally,
the child begins to make money, credit cards start to arrive in
mass, and the shopping begins, if it already hasn't.
"Having money to burn, the child goes
to places where other young people just like them hang out, and they
meet people, they date, and sometimes they get married. Life is
wonderful now, because today, both men and women work. Two incomes
are bliss. They feel successful, their future is bright, and they
decide to buy a house, a car, a television, take vacations and have
children. The happy bundle arrives. The demand for cash is enormous.
The happy couple decides that their careers are vitally important
and begin to work harder, seeking promotions and raises. The raises
come, and so does another child and the need for a bigger house.
They work harder, become better employees, even more dedicated. They
go back to school to get more specialized skills so they can earn
more money. Maybe they take a second job. Their incomes go up, but
so does the tax bracket they're in and the real estate taxes on
their new large home, and their Social Security taxes, and all the
other taxes. They get their large paycheck and wonder where all the
money went. They buy some mutual funds and buy groceries with their
credit card. The children reach 5 or 6 years of age, and the need to
save for college increases as well as the need to save for their
retirement. .
"That happy couple, born 35 years ago,
is now trapped in the Rat Race for the rest of their working days.
They work for the owners of their company, for the government paying
taxes, and for the bank paying off a mortgage and credit cards.
"Then, they advise their own children
to `study hard, get good grades, and find a safe job or career.'
They learn nothing about money, except from those who profit from
their naïveté, and work hard all their lives. The process repeats
into another hard-working generation. This is the `Rat Race'."
The only way to get out of the "Rat
Race" is to improve your proficiency at both accounting and
investing.
Schools teach us to be professional
(engineers, architects, accountants, etc.).. professionals that
works to a company as employee.... employees work to earn
money...what happen if you stop working?. earning money will stop as
well...
Schools don't teach us how do be
entrepreneur or businessman, it can only be learned from experience
in the real world...or from our parents or relatives who do business
as well...
Entrepreneurs or businessman learns how
their money work for them and not to work for the money like
employees does.
They used leverage from other peoples
skills (they hired people to manage their business), other peoples
time (employee works 8 hours a day for the company while the owner
is on vacation), and other peoples money (they borrowed money from
banks) to invest and make it work for them.
They seek financial freedom rather than
job security were employees are seeking for.
They seek new investment and business
deals rather that seeking salary raise like employee does..
To prepare yourself into a they're
level, we must start to do basic accounting,
Think yourself as a corporation.
Monitor your daily or monthly cash flow, maintain or increase your
cash in (your income), minimize your cash out (your expenses) how?
here's some tips
1. Don't buy things that depreciates in
value. Company don't buy things that they don't need. Ask yourself
if your buying an asset or liabilities?
Asset put money to your pocket.
Liabilities takes money to your pocket...
2. Live within your means. Remember
this formula..(Salary - Saving = Expenses)...once you get your pay
cheque set aside your target savings then the remaining will be for
your expense budget.
Maximize your savings and invest this
savings into a business, stocks, mutual fund, or real estates that
generates income.
Your goal is to increase your passive
income (incomes that comes from your acquired asset or investment
that not requires your presences)
Imagine if your monthly passive income
is more than your monthly expenses. you don't need to work for money
as an employee..
You can retire as young as you could.
And you can enjoy life and not worrying
about your future coz your financially free.
You have a passive income that flows to
your bank account every month coming from your investment and
assets.
Now your money is working for
you...This is how the rich people do...
This is the time you and your family is
out in the "Rat Race".
Hi,
I'm Engr. ENRICO TAN MORAGA, 31 years old, born October 23, 1976 in Caloocan City, Metro Manila, Philippines.
I grow up in a little town of Meycauayan, Bulacan, 20 km from north of
Manila, Capital City of the Philippines and now I'm residing in Dubai, UAE and
presently working as Structural Engineer in an American Consulting Firm
based in Dubai UAE.
My computer literacy are not just related to my work but I also love to edit photos
and images using adobe photoshop and create flash animation that I use to
composed a website like this.
I published this homepage to show my profile, my resume, my photo gallery,
my projects, my
work related designs and also my web design animation.
I will publish some related articles, current news, and useful links
that will help you in your everyday life.
I also created this website to interact with my relatives and friends from
all over the world and meet new friends as well.
I hope you will visit my website again.
Thanks
RICO MORAGA
Leona Lewis - Bleeding Love
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