Internet Marketing 4 Noobs

Just yesterday I found the following article in the newspaper.

The article basically talks about Singaporeans working well past their retirement age, and I seriously disagree with the very first paragraph.

“At a time when the Government is exhorting more Singaporeans to work longer, there are those who are one step ahead.

They continue to hold down jobs well past their 60s into their 70s and even 80s.”

One step ahead?? In what? Listening to the Government to work longer, forever? Shouldn’t we listen to ourselves, instead of the Government, on what is considered One Step Ahead in our lives?

In my opinion, those who are still working past their retirement age due to financial reasons are many, many steps behind in their life.

Why should you be working all your life? Shouldn’t you be travelling around the world learning new interesting things in your 60s? Why should you work in the same monotonous environment for 6 decades of your life?

Here’s another paragraph.

“There are those who do it because they have little or nothing in their retirement nest egg. Operating theatre assistant Osman Abdul, 73, earns $1,200 a month. Despite working for more than a half a century, he only has $5,000 in savings and a $200 pension from the Government.

Whatever their reasons, all share a passion for their jobs - which happens to be the simple secret of their career longevity.”

This is so wrong. Only $5,000 in savings after working for half a century? That’s a very sad way to conclude half of your life.

Then came along the STUPID idea of “learning to love the things you hate“. You should never love anything for the sake of it. It’s disgusting. Referring to the above quote, the article stated that many of the working “retirees” share a passion for their jobs. But I really wonder if it’s for the passion the job itself or it’s just a nicer way of saying “I can’t quit.”

Now, it would be very narrow minded of me if I did not consider why Mr. Osman Abdul had only $5,000 in his savings. He may have come from a poor financial background, have many children to support, and may have not heard of the concept of passive income.

But for the rest of us who are fortunate, we cannot ignore the importance of establishing passive income now.

As a university student myself, I felt that having a degree is nothing much compared to its worth years ago. Back then degrees are almost guaranteed to get you a managerial position earning $10k’s. Right now it’s the basic entry requirement to even start your career. I dare not forecast what degree holders can get from a $40,000 piece of paper years from now.

Degrees only help us to work for money, not making money work for us.

And yet I know of some friends who still rely wholeheartedly on degrees to guarantee ourselves a good life in the future. It’s not going to happen. Passive income is the only way to ensure that we do not have to “learn to love the things we hate“, do not have to continue working for money well past our retirement age, and only have $5,000 in our savings after working for half a century.

Building our passive income however allows us to continuously earn money even when we are not physically there doing the work. We can spend the extra time to build up multiple channels of passive income for more money, or simply enjoy ourselves.

You may think, money should not be the focal point in our lives. We should have passion for life…participate in activities…hang out with friends. I believe in that. But we can’t just be ignorant about financial issues and the consequences.

One example is how are you going to support your parents when they retire? For me my parents will be 60 years old in 10 years’ time. Where is the money going to come from? Degrees right now are just the entry requirements for a basic starting salary, and I won’t be able to count on it to support both myself and my parents, and live the life I want for myself and my parents.

Another alternate source of income has to continuously provide me with cash even when I’m working on something else, since I only have 24hrs a day.

All our parents have worked hard for all of us, and I personally want to make sure they have a comfortable life after 60 years old and have the financial resources to do whatever they want. Only having strong sources of passive income will allow me to provide that.

I picked up a very good phrase a couple of months ago when I attended OnlineIncomeHub’s workshops.

“Everything does not evolve around money, but everything needs money.”

Think about it. Isn’t it so true?

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This entry was posted on Sunday, August 19th, 2007 at 2:35 pm and is filed under Internet Marketing Articles, Personal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.