"Wealth is not about having a million in the bank, but what you do with that million to enable you not having to work another day if you choose too."
Asia is in the process of having the first batch of the baby boomer retiring. But many on this age group is not financially sounded. And the government is considering raising the retirement age to 67 years instead of 62 years.
RichDad say : "Job is really a short-term solution to a long-term problem."
Asia still has not recover from the Asian financial crisis in 1998 and now we have oil prices nearly triple within a year. The whole world is heading toward a recession within the next ten years. With more technology, machine replacing people, the whole globalization is looking at cost-cutting, restructuring, merging of companies, re-structure of employment and outsourcing. Companies will always be on the look out for younger, more productive and lower-cost staff. When a company is optimizing resources and minimizing cost, there is no room for sentimentality.
Staff become less productive and slower even before the age of 45 years. So even raising the age limit will not solve the basic problem as each birthday of the employee is going to be a liability for the employer in terms of cost, time, speed and competency.
Adding cheap labor from third world country to the situation made it worst.
Re-training & educating of the workers should gear not shifting from one industries to another but towards freeing them from their Financial Trap.
Most of the parents grow up in the industrial age, where school only teaches them to look for a job and nothing about money, they continue to guide their children as they were taught and another generation continue to follow the foot step of their parents. Click here to read more on The Rat Race.
One should be educated in Financial Literacy which in fact is available only to a few, the Rich.
This is a common subject for the Rich where it is often discuss with their children on the dinner table and leisure time. That is why you look around, the Rich seems to get Richer everyday whilst the poor & middle class continue to get poorer.
Anyone in the right mind should look at "How early can I retire" and free themselves from being dependent on a job. If given a choice, will you want to slog till the age of 67? - The choice is yours. Click here to for Solution.
RichDad say : "Job is really a short-term solution to a long-term problem."
Asia still has not recover from the Asian financial crisis in 1998 and now we have oil prices nearly triple within a year. The whole world is heading toward a recession within the next ten years. With more technology, machine replacing people, the whole globalization is looking at cost-cutting, restructuring, merging of companies, re-structure of employment and outsourcing. Companies will always be on the look out for younger, more productive and lower-cost staff. When a company is optimizing resources and minimizing cost, there is no room for sentimentality.
Staff become less productive and slower even before the age of 45 years. So even raising the age limit will not solve the basic problem as each birthday of the employee is going to be a liability for the employer in terms of cost, time, speed and competency.
Adding cheap labor from third world country to the situation made it worst.
Re-training & educating of the workers should gear not shifting from one industries to another but towards freeing them from their Financial Trap.
Most of the parents grow up in the industrial age, where school only teaches them to look for a job and nothing about money, they continue to guide their children as they were taught and another generation continue to follow the foot step of their parents. Click here to read more on The Rat Race.
One should be educated in Financial Literacy which in fact is available only to a few, the Rich.
This is a common subject for the Rich where it is often discuss with their children on the dinner table and leisure time. That is why you look around, the Rich seems to get Richer everyday whilst the poor & middle class continue to get poorer.
Anyone in the right mind should look at "How early can I retire" and free themselves from being dependent on a job. If given a choice, will you want to slog till the age of 67? - The choice is yours. Click here to for Solution.
No comments:
Post a Comment