Category: Make Money

Why Full Time Job is the Bane of Entrepreneurship

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Yes, you read it right.  Full-time employment is indeed the bane of entrepreneurship.  In fact, I will go as far as saying that most people these days prefer to get employed and are unwilling to venture on their own.  We work and study hard during college just so that we will get a good job.  This ideology is a mainstay in most household and it stifles all forms of creativity, innovation, and entrepreneurial pursuits.

Full-Time Employment Gives an Illusion of Comfort

The thought that you will always get a salary at the end of the month or mid of the month is surely an enticing idea for all.  Regardless of what you do, if you stick with the job, it is likely you will get paid.  The downside of this is that the salary provided may not be high, though it provides a certain level of security; additionally, you are at the mercy of the company.

This illusion of comfort will likely put you at a comfortable place where you are unlikely to venture or to try new things.

Full-Time Employment Shifts the Business Risk to Your Employer

Though you are an employee and have little to worry about business and other economic factors, your employer takes the business risk to himself/herself.

When your employer can no longer manage the risk, guess who’s going to be on the receiving end?  You will.  During a downturn or when a financial crisis hits your company, you may be laid off or retrenched.  So good luck with that.

Full-Time Employment Turns you from a Hunter to a Farmer

You are a farmer when you choose to remain an employee.  You will toil the soil for the landowners for a pittance.  When you have outlived your worth, you will be deemed as without value.  A place you really do not want to be.

Full-Time Employment Predisposes you to a Life of Debt and Loans

How do you pay for your car? Your house? Your children’s education? Some luxury? Through loan of course, unless you are rich enough to pay them in full (which are unlikely if you are an employee).  The more fixed you are in your employee life and mindset, the more debt you will accrue, the never-ending cycle of bondage to debt and servitude to the power of money.

Choose wisely, do not settle for servitude and slavery to the power of money.

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Want to get Rich? Don’t Save.

 

piggy-bank-850608_1920I know that this sounds sacrilegious.  Want to get rich?  Don’t save!  Wait, what???  How does this work?  Well… Before you explode at me and release your barrage of insults, hear me out.

Time Value of Money

I am not saying saving is bad; in fact, saving money is always a good habit!  But only if you are planning for a stable secure life but with little luxury.  It is unlikely that any one can get rich by saving money – unless you are able to save millions of dollars monthly or annually.

The reasoning is simple, there is such a thing as ‘time value of money’ – which means the value of your money will continue to depreciate as time passes.  Ever had thoughts such as “things are getting so expensive! I can’t afford these with my current pay!” or “interest is so low, is it enough to manage inflation?”.  These are real examples on why money will continue to depreciate in value as all as things cost more to purchase as time passes.

In short, your $1 million today may only be worth $500,000 10 years down the road.

Inflation

As majority of the population continue to work their guts out in low paying salary jobs and taking on loans after loans to finance house mortgages, car loans, and educational pursuits; the top 1% continues to leverage on their wealth to manipulate market and drive prices up.  If you work too hard to save, you end up losing the value of your savings.

Historically, inflation have always been pegged to rising cost of production due to rising labor wages; which ironically results in increased consumption due to greater disposable income.  These days however, it is often not so transparent.  Depending in which location you are on the globe; many external non-transparent forces (government, taxes, corruption, and others) are likely to drive prices up regardless of your actual income.

If you save, you lose!

Opportunity Cost

The more you save, the more profit you lose.  As you money sits idle in the bank or under your bed; the potential earning that could have been generated through proper money management would have been lost!

Consider this, if you have $50,000 would it be better to just put it in a bank and earn minuscule interest?  Or would it be better to invest in something that have real asset value that appreciates with time?

The choice is yours.

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Alright fine, I won’t save.  But what can I do?

There are alternatives, but its impossible to make any decision without taking any risk.  You will need to be clear about your personal risk profile so that you can make better decision for yourselves.  In anycase, the alternatives are:

  1. Investing in Shares, Bonds, Mutual Funds.
  2. Investing in a reliable and trustworthy business idea.
  3. Investing in property and generate revenue through rent.
  4. Investing in commodities and other value driven assets.

Unless you are stumped and unsure on what your decision should be, saving should never be your primary goal for wealth appreciation.

Grow money, don’t bury them!

6 Reliable Ways of Making Extra Money

Make Money

You know that feeling.  The feeling of happiness during payday followed by the immediate dread knowing that you will likely not see any money left after clearing off bills, debts, insurance, and other expenses.

It’s an extremely depressing feeling for everyone.  And trust me,  you are not alone.  At least 99% of the global working class feels the same way.  Less the infuriating 1% who monopolizes the wealth of the world.

The bottom line is – everyone, needs more money. And the money that you make is obviously not enough; otherwise, you would not be on this page.  Well, the good news is – I am here to share with you 6 reliable ways you can generate extra revenue.

1.  Sell Items on Online Platforms

The best thing about online platforms is that they are usually easily accessible and of relatively low cost.  Online platforms such as Amazon, eBay, Craiglist, Carousel, and others should be used!

Go round up some items that you do not use at home often, and sell them online!  You can even enhance your e-commerce experience through scouting for bargain products from all sources, and selling them online for a profit!

2.  Be a Ghost Writer

If your writing skills are acceptable, you can advertise yourself in platforms such as Craiglist, Freelancer.com, gumtree.com, and other websites that get traffic.  Get projects writing papers, books, and other articles.  Frankly, its a decent amount of money, you may even make enough to quit your full-time job!

3.  Get a Part-Time Job

This would likely be the most effort driven and time-consuming suggestion.  Nevertheless, it is arguably the most reliable of all suggestions as the money is guaranteed as long as you work.

The challenge about this is to evaluate if your time (per hour) is worth your effort.  Also if you do kids and family, this strategy might eat into time with your loved ones.  You will need to evaluate and see if this is worth your while.

4.  Drive Uber, Lyft, Grab, or GoJack

Globally, many working-class individuals have jumped on the bandwagon of ride-sharing.  The motive is simple – to earn extra income.  Though driving for these companies may not necessarily generate a significant amount of monies, it will still generate extra income that you may find helpful for your daily expenses.

5.  Invest in Stocks, Shares, Bonds, Mutual Funds

If you have a healthy level of risk appetite, jumping into investments may not be a bad thing.  However, it is important to not be overly obsessed with making money from investments.  Sometimes, if you need to let it go, then let it go.

6.  Teach Online Course

If you have anything or specific skillsets that you think you can impart to the general public, why not go ahead and contact Udemy, Coursera or even Youtube to publish some of your courses online.  You can choose to monetize through advertisements or following or people purchasing your courses.

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There are many ways of which you can make some side income.  It is important to decide which is most suitable for you depending on your skills interests and life phases.

Good luck with making money!

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How to Invest in Chinese Stocks

Investments

Everyone knows that China despite its recent slowdown, is still a lucrative market to invest in.  Especially when the rest of the world appears to be struggling in the current economic landscape.

Chinese companies generally present a potentially huge opportunity for investors to make money out of the Chinese stock market;  however, the market in China carries unique risks and challenges that bear consideration for foreign investors.  Additionally, foreigners may find it difficult to invest in the Chinese stock exchange without ‘local’ connections and/or assistance.

1.  Invest in Chinese Stocks Listed in the US

A generally safer alternative than investing directly in Chinese stock exchange is to invest in Chinese stocks that are listed in the US.  A simple googling effort would likely point you to the right direction.

2.  Invest in Hong Kong Stock Exchange (HKSE)

A great alternative to investing in China is to invest in Hong Kong, the more accessible part of China in terms of finances.  The HKSE will make you money provided you are able to tolerate the risk.

Hong Kong top 10 stock picks:

TENCENT, PING AN, ICBC, CCB, TRACKER FUND, CHINA MOBILE, GEELY AUTO, CHINA LIFE, FOSUN INTL, BANK OF CHINA.

3.  Visit China and Get to Know How to Trade

Visiting the country and getting yourself familiarize with how the trading system works would definitely help in your investment endeavors.  The Chinese stock market have open its doors to foreign investors; however, the style and method of trade differs from its western counterparts.  Being in China allows you to familiarize with the way of which local stocks are traded.

All in all, Chinese market is a promising market, and Shanghai is also the dreamland for many who dreams of being a millionaire over night.  Proceed with caution though!