Many people tie their sense of self to the work they do. If they work for only one employer in their lifetime, they might tie their self-concept to the company. We hear horror stories of Japanese employees who continued the daily routine of dressing up, taking the train to work, and hanging around their old offices. There are similar stories in other countries. A close … Continue reading Quickly grow a non-career identity
If you haven’t provided sufficiently for your retirement, it is obvious you need to cut your expenses. Even if your financial planning is perfect, the loss of your regular income is likely to be a psychological shock. You can decrease this shock by reducing your spending. Defer any major expenditure e.g. a new house, auto, computer, or video equipment. This is especially critical if you … Continue reading Reduce Expenses
Some people would be too impatient to plan first, and may suddenly jump into something new without preparing. This is most likely to happen to high activity persons. Example: A school principal retired at the mandatory age, collecting his entire provident fund. Unable to handle the reduced pace of life, he decided to open a Thai restaurant since he liked Thai food. He got the … Continue reading Avoid sudden changes
We don’t have to think of retirement as a time of inactivity and decline. We once heard an active eighty-year-old describe his contemporaries as ‘waiting to die’. Nowadays, the idea of retirement is far from that. It is about using the opportunity to achieve one’s full potential. There is optimism. and one chooses a personally satisfying level of activity. It doesn’t have to be restricted … Continue reading Adjust your life style portfolio
I am Sandy. My father was a prison guard and our family of 6 lived in a simple two-bedroom flat in the prison. We had a stable life as the income of a government servant was assured but clearly the prospects were limited. When I cycled to school each day, I passed beautiful bungalows and vowed to myself that one day I too would live … Continue reading Sandy says ” I did it”
Hi I am Thomas. I made my first money by running a raffle-on-a-board when I was 12. Attractive prizes such as binoculars and a camera were stapled on to the top half of a large piece of thick cardboard to entice bettors. Tiny folded tickets were glued to the lower half of the board. My brothers hawked the mobile raffle around our village and neighboring … Continue reading Thomas says “I did it”
Whether you earn through employment or business, trust is one of the most important assets to have. Think relationship, not transaction. In a transaction, you try to get the most out of it. In a relationship you are in for the long run – be concerned with the other party besides being concerned with yourself. Don’t offend people. Be kind and compassionate to everyone. Avoid … Continue reading Earn People’s Trust
Everything you learn, every cent you earn and save, and every dollar invested has the greatest value when you start early. Those who become financially independent early are the ones who start earning when still in school, save hard in the first few years of full-time working, and invest early. Those who do well academically are often the ones who have covered the syllabus one … Continue reading Start early
This scout’s motto works just as well for learning, earning, saving, investing, and retiring. Do your homework and get things ready before you need them. Retrenched employees who survive the best are those who monitor whether their employers would need them in the next few months, and who constantly check the market for new opportunities. Shoppers who get the best deals know what they need … Continue reading Be prepared
Put simply 80% of the impact comes from just 20% of the effort. Most of the activities that lead to career advancement come from a few key activities. Most job leads come from a small fraction of your contacts. Most of the impact from any presentation comes from a few key messages. The key in applying the 80:20 rule is to avoid diffusing your energy … Continue reading Practice the 80:20 rule
financial independence 