Are you studying in college or working for others? If you are either one of them, then this article is for you.
Did you ever wonder how your life is going when you turn to an adult? In societies people normally follow a path that they believe it's reliable and stable which is study hard and get a high paid job after graduated. Well, there're 90% and above of people thought this is the only and genuine path that we should follow.
Are you thinking the same? You may study very hard in your primary school, do every homework and do revision more than 10 hours per day. Because you want to enter university and graduate to get a valuable certificate, so you can rely on the certificate to get a high salary job in a big company.
The reason you want to get a job in big company is because you want to make more money. We are not only need money but need more and more of it to afford our highly expenses every month.
This is how normal people think about his future — study hard for high salary job. An article from Left Foot Forward described this wrong mindset of young people. However, now societies are different from several decades ago, price of things raise due to inflation but our salary never increase.
If you only depend on your job then you're in danger. Currently global economy is always unstable, so the profits of companies are not stable too. Business influenced a lot by the economy except the top 10 companies in the world.
If the business is influenced then the company may need to cut cost. Lot of employees will be fired as the result of cutting cost of the company.
As the salary never go up with inflation in an appropriate ratio and people easily get fired, getting high salary job cannot be a guarantee to your life anymore. Therefore, majority of people who are working for others are not wealthy.
Concept of working for others
Working for others always need to spend long hours of a day, sit in the office, face the computer from 9 to 5, and repeat this again for everyday. This is how the way of "working for others" makes money — spend 8 hours to repeat the same things in the office everyday.
People think they have to work very hard to get promotion opportunity, so they'll make more money than before. They're just confused about the words of "make money". They thought they're making money, in fact, this is seriously wrong.
Working for other people is never can be defined as " make money" genuinely. Instead it should be defined as" change for money". What has been taken to change for money? I guess you caught it, it's clearly the time has been taken to change for the money.
Lets say if your salary of a month is 2000$, your working day is 20 days per month, so take 2000$ divided by 20 days, your daily salary is 100$. Your working hours is 8 hours per day, so take 100$ divided by 8 hours, your every hour will be valued as 12.50$. Which means that you change your one hour time for 12.50$.
Your salary is fixed, it would not change except the commission base. So if you're working for others and you want to "make" more money, then you have to work more hours.
The more time you spend on your work, the more money you can change. However, you'll trap in office and lost your freedom. You've no time to spend the money even if you "earn" lots of it. You got money but no time.
Concept of passive income
Passive income is the income that comes automatically without your extra work on it. It is based on a system that kindly build to let money flows to you, for instance, the business model of multi level marketing, insurance, and online business.
If you've built your passive income, you don't need to work hard to earn money because your system will become a money magnet, attracts money to you effortlessly.
You'll have your own time, your freedom, and your time won't be viewed as how much per hour of it. You're not going to be trapped in office and facing computer for a whole day. Therefore, you can live your dream lifestyle freely.
You'd need to build passive income if you really want to enjoy your life. Passive income needs no worry of getting fired by boss, you're your own boss. It also needs no worry the inflation, if your passive income is bigger than your monthly expenses, then it's ok. You can increase your passive income with putting just some efforts, unlike working for others which the salary is fixed, you can do nothing to increase your salary.
Passive income not only helps you to earn money, most importantly, it helps you to earn your time. So you can have money and time at the same time. If you're working for others, you maybe got money but I guarantee that you'll never have your genuine fully controllable time. Freedom is priceless.
Start to make your own time
If you ask me what will I choose as my passive income system, my answer would be developed an online business. Develop a successful online business is not as hard as you think.
It's based on a simple strategy — find out people's problems, show your solution to them, develop your authenticity, then sell your services or solution to them. They're looking for the solution, so they're your ready buyers, they'll buy if you offer them what they want.
Building an online business is not that hard, it doesn't require you to be an expert of website developer, you don't even need to understand the code, HTML or any computer languages.
You don't need excellent speaking skill, selling skill, or persuasive skill. It's not necessary, if you have these skills are good, but it won't decrease your chances to be successful in online business if you lack of them.
Online business enables you to make money from global market. This is the difference compare with ordinary business which is only can be served to the local market. The size of market decides the possible amount that you can earn. Online business can serve as many as possible of people from around the world.
Online business model has one characteristic, which is it can run as autopilot without your monitoring and controlling. So you don't need spend lots of time in front of computer to do business. It will help you to earn money even if you're sleeping on bed at midnight, it generates passive income for you. You only need some times to do maintenance for your business.
Don't get me wrong. I'm not saying that working for others is bad, it's merely your choice. You can get a job in a company but build your cash flow pipe at the same time. I suggest to create your passive income system as early as possible if you want to retire young and retire rich.
About the author
Rio Yee is the Founder of WealthyLoveLife and is super passionate about helping people change their mind and take action to improve your important areas in life such as dating & relationships, personal finance and productivity.