Business Owner Beware! Owning a business producing physical products will soon only be the playground of major players in their field. The strong get stronger. The weak is diminishing one by one. Just take a look at automotive industries, microchip industries, telecommunication industries, etc. Strong players remain strong. There is hardly a room left for small or new players. Good products and services will not guarantee your market position with the changing of consumer behavior, everyday! If the trend continues, there will soon be only few choices for cars, computers, cell phones, etc to choose from. Does your business stand a chance to survive and get strong in the next few decades?
Employee Beware! Hard working at work do not necessary guarantees you job security today. The world is changing faster than you could imagine. What you have learned at university will soon be obsolete. You may be the lucky one if your company gives you training for continuous improvement. Even so, aren't you tired of trading your time with a fixed salary? You will soon face the pressure of being lay off as your salary increases. Companies are finding ways to reduce their expenses in any form to keep their products and services competitive, considering the rising cost of materials, energies, etc.
The Path to Wealth has Changed! New age has arrived. Today is the age of information. It is no longer about products and services. It is no longer about being hard work and pension fund. Today, good ideas sell. People trade with information today. If you have great ideas, you could be on the fortune list within a year or shorter. Conventional business takes years. It is almost impossible for people who work for others.
New Age Money Management Put your savings in a bank is not really a smart way of manage your money during information age. The inflation rate can easily bypass bank's interest rate. Working is for those who want to stay where they are forever. How many employees get an increment in percentage that is greater than inflation rate? Even if it is greater than inflation rate, by how much?
Therefore, it is no longer about saving money, study hard and get a job. If you want to know how to live a wealthy life, at least at your generation, you need to equip yourself with a proper money management technique. New age money management is not about cutting expenses, manage your debt or get a financial planner. It is more than that. It is not about letting others to manage your money. It is about you being the financial planner yourself. It is about how to minimize your expenses and maximize your incomes.
There is only so much you can save if your income is fixed. With the increasing inflation rate every year, saving is simply not good enough. You need to learn how to allocate some money for investment. No, I am not referring to buying unit trust, bonds, futures, etc. I am talking about something that can potentially earn you more than your monthly salary. Of course, you need to know how and do it right. The answer is definitely not to work harder. Just think, serious think about the following questions for a moment. How many people really get rich by working hard for others? What do the world famous rich people do? It is not that complicated so get rich. You just need to do what rich people do and learn how they do it well!
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