Learning how money works for you is an advantage if you have a stable source of income. Working for your money until you reach 60 or retirement age can be so exhausting and disheartening thinking that at this age, you are supposed to enjoy life to the fullest.
Old age is something that we have to put into consideration because it was so heart breaking seeing old people who were still working at Singapore airport for an instance. I was traveling back in Seychelles around 2017 and I could not take it when an old lady, almost like my granny's age told me to clean my table which I meekly replied,
"no, please I will do it myself". She was one of the food crew and other travellers were also vocal about what they had seen.
I was not quite sure whether it's the culture of the Singaporeans to let their elders work until they're able to do so however I could not imagine letting my mom work until retirement age. She's supposed to enjoy life because she deserved it for the long years of working for the whole family. This is the least we could do for our parents, giving them comfort in their retirement years. Although my father's demise brought so much hope that he could survive on his illness, the thought of being HOME to our eternal place was comforting anyhow.
Will You Be Working Until your Retirement Age?
While I was reflecting on how important it is, and I have to emphasize this enough that preparation is the Key to enjoy our retirement age, the scenario I have seen back at Changi Airport was a real deal of preparing for my old age too which has great relevance to these questions that were addressed in the book entitled, The Secret to Saving and Building your Future,
Who will take care of your family if you die too soon?
Who will take care of you if you live too long?
Quite an impact should we put into consideration which these questions can be a turning point on how we see money and personal finances in general perspective, knowingly that Financial Literacy can be an advantage for our future and our retirement.
These questions are my foundation for why I wanted my money to work for me, why I am always passionate about learning ways how I can grow my finances. The biggest blew when it comes to expenses was the hospitalization of my father wherein medical and hospitalization bills skyrocketed. I have to share this over and over again with high hopes that it would open the minds of others especially for Filipinos Overseas Workers on the reality of hospitalization in the country could kill.
Some patients were dying not merely because of their illness but because they were not able to pay for the medication costs. This is so true for what happened to my uncle who passed away upon hearing the news of his death three years back when he was diagnosed with a terminal illness and his medication cost was more than the family's capacity to sustain his daily hospital allowance.
To take into account, both of my auntie and uncle were public servants and during their 45 years of service, earned a good amount of money monthly however due to the lack of Financial Education especially health care has been taken for granted, their passing took a great impact to my cousin. We help in our small ways but as far as greater expenses in terms of hospitalization, for example, it must be our topmost priority considering that in my country, this brought bankruptcy not only financial but also emotional and mental misery.
Do You Spend Time Reading Books for Personal or Self-Help Growth?
Reading this book is like talking to the author himself for he had just answered my question when it comes to making most on how our subconscious mind can bring an impact into our existence.
In the book, it was stated that "Wealth is in the Mind", (page 136 Chapter Nine on the topic: How To Use the Power of Your Subconscious Mind for Wealth) and not unless you truly practice your thinking faculty can you comprehend how powerful it is into our wellbeing.
It is such a gem to know that wealth is hidden in our subconscious mind and only when we learned how to delegate our subconscious mind for what we wanted to achieve, there's so much power in it.
When we claimed first hand that WEALTH is synonymous with SUCCESS, regardless of what's going on in the stock market, the sideways, the uptrend, and the downtrend movements of cryptocurrencies, its volatility and so many other factors to consider, remember that our MIND has a lot to do with our EMOTIONS towards the fluctuations of the market. The book helps me open to another dimension in terms of dealing with my financial journey towards financial freedom. I know I am reaching the part wherein I could say to myself, "Well done Pat! Now, time to sit back and relax!" tapping my shoulder reaping on what I had sown.
At the end of the day, it is the "HOW" of our mindset and not just on the "what". Likewise, whoever reads this book can share his/her insights on how it transforms one's mindset into wealth hence as I was saying redundantly, THINK ABUNDANCE and ABUNDANCE shall be yours! This has been my solid foundation when it comes to growing my wealth. This may be so hard to fathom for others whose mindset is not inclined towards abundance.
How's Your Visualization?
Olympic Game 2020 is currently held in Japan and while I was internalizing how each athlete stayed FOCUS on their specific sports/games, it is no wonder that those who have strong stamina can win the race. Cycling which was my topmost favourite is the epitome of a real battle of physical and mental strength. They have clear visualizations of the triumph they wanted to achieve not only for themselves but for the country they have represented.
How is this related to your finances?
Simple actually, by staying focused and able to Visualize the potential growth of your finances is an edge as you know where your money can go.
Remember that it's not about how much money you have in your bank account but it's how you manage to set aside a portion for your retirement and for your investments.
**Take note that saving alone can not beat inflation!
What's the Rationale?
Building a solid foundation in our finances takes a lot of self-discipline and practice DELAYED GRATIFICATION always however everything boils down to the RIGHT MINDSET.
Should we fed our Minds with proper and healthy ideas where the fountain of wealth truly resides, then we can be assured that whatever happens in our economy we would stay rooted in creating good ideas to produce wealth abundance and an income-generating project regardless of how others may see
it gave me a decent return with these accessories I once had that I do not find any more use for me and the best strategy is to sell them out! Entrepreneurship is not just about service but building good relationship.
Our mentors at the International Marketing Group equipped us with the proper tools on how to be Financially Educated and the importance of financial concepts so we could be a blessing to others, likewise, it is the same as building our house where a solid foundation is as important as building for our future.
Questions:
1. Do you believe that building a solid foundation in growing your finances has a lot to do with the right mindset towards money?
2. What are the three bold steps you took in order to grow your wealth?
3. Can you say you are successful? Why or why not?
Let's connect via cointr.ee
Some Images used in this post are mine edited via Canva#ShoutOut to my sponsors for their quality posts and generosity
Why I love Bitcoin Cash?
I guess you are in my head because since the beginning of this week, I have thinking about how to grow my income, not by working extra hard though
I was trying to remember vividly what I learned about compounding in the book, "The richest man in Babylon" by Clarkson.
He taught us to always keep one tenth of all that we earn, and once it reaches a specific amount, we should start allowing it work for us by investing and compounding
Now, he urged that we do not blindly invest in ventures we have no idea about. For instance, if we wanted to invest in the steel industry, we shouldn't ask for financial or investment advice from someone who in the textile industry.
We should ask those who are already rooted in the fields we plan to invest so we do not lose our hard earn savings
So, yes, just saving isn't enough, we need to learn to make money work for us, by investing them, and watch it compound as we continue to grow old
I have been thinking about it too much that when I saw the title of your post, I was moved to click and read through.
I was hoping I'll find something that will help me establish those thoughts of mine, and start working towards them as the month of August begins
Another thing I have learned through my continuous thinking is that we do not need to wait until we have a pile up of money before we can start working towards our financial freedom
We can start with the little that we have, and in a few years, we will be surprised at how far we have come.
Thanks for this writing, it made my Sunday.