For ages, our parents have taught us to “study hard and get a good job”.
Most of us grew up doing that dutifully. We embrace our job to the extent that we identify ourselves by it. Often, we proudly introduce ourselves to each other based on our vocation (“I am a/an engineer/accountant/doctor/nurse/teacher, etc.”) and associate others with theirs. More often than not, the primary reason for our job attachment is that it provides us with an income—money for us and our families—but we refuse to acknowledge it. There was a man who declared in a convincing manner that he loves his job for what he does and not for the money. He was then asked whether he would still work solely for the love of it if he is no longer paid. His face changed and he kept quiet. He had realised his delusion.
Do you own your job or does your job own you?
Have you ever asked yourself what it means to own your job? A simple way to find out is to compare your job with the money in your wallet. You can do whatever you want with your money because you own it. No one else can make the decision for you. You can use it to exchange for goods, give it away, or hand it down to your children. You can even throw it away (please let me know where you throw them if you do).
Can you do the same with your job? No! This is decided by your boss, and your boss’s job is decided by his/her boss. You cannot decide who you want to give it to or bequeath it in your will. You can lose your job if you are very sick, had an accident and are simply unable to perform. When you resign, you cannot take the job with you as well; it will be given to someone else.
In fact, there are so many more ways that you can lose your job, some of which can be outright ridiculous indeed. You may be doing your job better than expected, but a simple irresponsible act by any employee can get you retrenched. Many would remember the infamous case where a rogue trader brought down a multi-billion company and triggered a world economic crisis. Who knows? It can also be as simple as a worker carelessly disposing off a cigarette butt that sparked a fire which burnt down the entire building and caused everyone to lose their jobs, even when it is no fault of theirs!
So you may ask, “What can we do against such odds?”
The answer lies in:
Building multiple streams of asset-based income
Most of us cannot afford multiple homes or properties for rental income. Neither do we have huge amounts of cash for investment in other financial instruments. The good news is you can build a business for yourself. With the right mentor or coach, you can build it with very little monetary capital outside of your current job, with the only capital needed being your time and effort. Such a business is what Robert Kiyosaki, author of Rich Dad Poor Dad, wrote about in The Business of the 21st Century. Grab a copy of it, humble yourself, and seek out someone who can show you the concepts properly and guide you towards the financial assurance you have long sought after for yourself and your family.
Do You Have The DNA To Be An Entrepreneur?