How is the life of an average Singaporean? More than 90% of the people born in after the 1980s have gone through at least the Minimum 10 years of education, ie from primary school (6 years) through secondary school (4 years, sometimes 5 years). We have been thought how to survive through education. But this only brings us to one result: getting a a large quantity of products from the same factory
This brings us to the topic of a rat race in Singapore. The fact that everyone is getting better educated makes us more competitive in our job search. Nowadays a degree from a university is common. The entire orchard road is filled with lots of graduates.
After graduation, it is common that one will pursue a job in their field of study and there starts their work life. Week in week out, their work life began. They work overtime and have little time for their friend, girlfriends and family. This is especially true in many professions where the competition is strong.
We also suffer from tremendous stress due to the pressure to keep our job. We have unknowingly entered into the infamous Rat Race. How do we get out of this Rat Race? One wonders
The only way is to obtain financial freedom.
Then people may ask, is it possible to obtain financial freedom through working? Yes it is possible. But most of the times we require several years of effort if not tens of years. With the rising cost of living globally, it is hard to find that why isnt our salary increasing at the same rate as the cost of living?
Here are several ways to obtain financial freedom: 1) Do your own business, be your own boss. However this option requires very precise planning. You require a proper business plan and necessary investment and capital for most. 2) Do investment. Keep your salaried job but focus on investments. I believe many are into investments in one way or another. The key is to gradually increase your portfolio, and diversify your portfolio to obtain a balance return. It is lower in risk as compared to starting your own business 3) Strike Lottery . This is the easiest way to obtain financial freedom . But maybe only 1 in a million!
Many a times, people are too used to be in their comfort zone. They are usually relatively high paying salaried people who are not willing to forgo their fixed salary for the adventurous idea of starting a business/full time investment
Stay tuned as we discuss further in details how to work out plans to carry out the above mentioned alternatives! Cheers!