Hello there, it's been a while. You know, before I left medical school I already threw my certificate/license into the bin (literally) by saying I won't be needing it. I am a very proud person and put all my hopes of becoming rich into one source- Forex. So I decided to neglect other sources of income, and worse, I was spending all of, and even more than I was earning. I was not prudent in my spending and I did not have any savings. Needless to say, I was foolish!
True, I was comfortable financially for most of university because my parents were bankers, I had friends and family who gave me money and I was sometimes making money by the side from Forex (but spending it before even withdrawing). I also won money on Who Wants To Be A Millionaire.
But I have since learnt through my research and study of personal finance that I was stupid.
Of course, you use what you have to get what you want -nothing is a waste. And having multiple streams of cashflow is the key to great wealth, not plugging them unless extremely necessary to do so because of time constraints.
I wanted to belong to the 'Drop-outs Club'
I wanted to drop out of school to emulate people like Bill Gates, Michael Dell, Mark Zuckerberg and Steve Jobs. But what I didn't realise was that dropping out of school for them was a necessity, not a means of showing off. Moreover for them, they were already so busy (with all their spare time spent) building their companies that they could not make out time for their studies anymore and so they had to drop off.
Likewise when people resign their jobs to build their own companies. Dropping out of school, not practicing your profession or resigning your job (to build your own business) should not be a contigency.... It should be a matter of urgency! In other words, DELAY IT FOR AS LONG AS POSSIBLE, AND ONLY DO IT WHEN ABSOLUTELY NECESSARY.
What it feels like to be a billionaire employee
Last week, the news media was awash with the news of an employee who was already a potential billionaire even though he is still on the payroll of his club, and would be worth more than the club's present billionaire majority shareholder- Stan Kroenke. Arsenal player Matheu Flamini had invested millions into a company he co-founded with Pasquale Granata- Granata-Flamini (GF) Biochemicals to research a way to mass-produce levulinic acid (LA), and replace the use of fossil fuels. It is the the first firm capable of mass-producing a fossil fuel replacement from wood waste and corn waste.
The two partners have a passion for a green earth and hope to see Levulinic acid one day replace fossil fuels such as oil, gasoline, biofuel, plastics, etc, in the $30 billion industry, thereby making the world a safer, greener place for all.
My employee earns more than I earn at my job
I am not ashamed anymore to swallow my pride and humbly learn to be an employee once again. The fact that I have major shares in a company with employees earning more than I presently earn at my job does not mean I should not be humble enough to work for someone else. More so, every extra cash counts.
In fact, though it is great to be paid a salary from your own company, it is better and gratifying to work for a company/employer that does not know that you pay salaries of others, more than the salary they pay you.
And that is the key to great wealth. Some others call it passive investing -your money making money for you while you can still use your 'free' time to make some extra cash.
Multiple streams of income
I again stumbled upon the 2nd edition of the bestselling Robert G. Allen book 'Multiple Streams of Income' first published in 1998. It contains so many useful personal finance tips on investing in stock market, real estate, network marketing and internet opportunities. Some of which I have written about here on this blog.
If you have not read it, you can contact me, as his my policy on this blog, to send the book to you as a gift.
Thank you for reading. If you think someone needs this message, then please feel free to share it with them.
Have a lovely day. Cheers!
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