Is That A False Hope In Fixed Income?
What do your parents like you to do as a profession? Whatever it is, they think about safety and security first. You are young, you want to take more risks to explore new things and do something different to see what comes out as a result.
You think your parents hold you back. When you become a parent, probably you will do the same thing for your kids. Doing a job is considered a safe choice. If you want to do something on your own or start a business, you have to take the risk and responsibility.
You get a consistent income in a job. So your income is fixed. You are sure you will get a specific amount of money as a salary in your bank account. Your income may not be fixed like that when you do business.
Have you ever felt that there is false hope in a fixed income?
Your income is fixed, meaning you can do whatever you like with your money. Will you be able to do everything that you used to do before? Unfortunately, you cannot do that due to the rise in price. You are paying more now to buy any goods and services. And you will more than this amount in the future to get the same thing.
Your fixed income does not hold the fixed power, aka, the purchasing power of money falls rapidly. So having a fixed income is not as safe and secure as you used to think before. You just had false hope before.
As an employee, you think if you get a salary at the end of the month, there is no problem. But if your company does not do well, it may go out of business. As a result, you will lose your job and become unemployed.
How you see different things and react will be different from person to person. You need to manage your personal finances. Your financial goal is not my financial goal and vice versa. So, manage your finances the way it brings the best outcome for you.
Thank you for reading this post. Please feel free to leave your comments. That's it for now. I'll be back with another post.
