“If you put bananas and money in front of monkeys, they will choose bananas because monkeys do not know that money can buy more bananas. In reality, if you offer job and business to people, they would choose job because most people do not know that business can bring more money than salaries. Profit is better than salaries as salaries can make you a living BUT PROFITS CAN BRING YOU A FORTUNE”
Jack Ma (Founder of Alibaba)
MINDSHIFT was one of the biggest mental challenges I had to overcome as I was very comfortable in my job, my (awesome) team, surrounding environment and ABOVE ALL I was very comfortable receiving a MONTHLY SALARY. I remember strutting around the posh and magnificent DIFC (Dubai International Financial Centre) in Dubai five years ago on a coffee break, in my corporate suit and heels, carrying a LATTE and a note book, pretending to look pre-occupied. Handsome men marched by with their SHARP BLUE SUITS, matching brown leather shoes, slicked back hair, well groomed beards, fixated with the latest e-mail on their iPhones. Beautifully dressed ladies were RUSHING around, with immaculate makeup, perfectly manicured nails and pedicured feet squeezed into a pair of branded heels. Then it DAWNED ON ME, we were marching to the same beat…. well the CORPORATE SLAVE BEAT!
Corporate employees are generally high achievers – A-Grade students at school who achieved well at UNIVERSITY, maybe gained a Masters degree, further education and then went on to join a TOP company with a great CAREER PLAN, salary and benefits package. Everything is planned out and you are trained to do well and climb the corporate ladder. However, the more you climb the corporate ladder and the BIGGER YOUR PAY CHECK, the more PRESSURE there is to perform better, higher, with a bunch of responsibilities and work longer hours. How much time do you actually spend away from your family and the PEOPLE that really matter? How many weekends have you now worked in a row? Have you made time for your hobbies, health and wellbeing?
When you reach DIRECTOR or PARTNER level, how long can you hold that position before you will be told to STEP DOWN and find a successor? There is only that one TOPDOG position but how many younger talented people are coveting for that, READY TO POUNCE? During a recession which comes about every ten years or so, it is very normal for employees to lose their jobs especially when a company is cutting costs, more commonly referred to as “GETTING RID OF DEAD WOOD’. Usually people with the bigger salaries get laid off first. Indeed I witnessed this during my first year in Dubai when I arrived during the economic downturn in 2009. People and ENTIRE departments got laid off and people who had debt and were unable to repay those debts or find another job were fleeing the country. Abandoned cars gathering dust were left around the city and at airports which made the INTERNATIONAL news arena.
I agree with Robert Kiyosaki when he talks about a JOB being the most risky investment. And I think that completely boils down to two main factors (1) You are working hard for a salary to make someone else wealthier, and (2) because you are an employee, you will never have FULL control over your future at that company. If you don’t have a BACKUP PLAN, it means that your company has full control over your financial future. Whilst investing in PROPERTY, your property is working hard to make YOU wealthier and you have full control over this property and your FINANCIAL FUTURE.
So my question to you is: how long would you be able to sustain yourself (and your family) should you lose your job? Yes, you may try and get another job and live off your savings in the meantime, but what about if it took you two years before you could land another decent paying role? Would it mean that you would need to downsize your lifestyle? Do have enough PASSIVE INCOME to cover your monthly essential payments and still have money left over for treats and luxuries?
Peace Out xoxo