Topic: Food for thought - page 3. (Read 899 times)
It's not wise for anyone to rely on just one source of income, especially in times when the global economy is struggling. Those working in government-owned establishments should carefully manage their employment duration and explore additional ways to earn money. I've observed many individuals employed by banks or government institutions who, when laid off, end up leading difficult lives. Sometimes they never get another job and might end up starting from a level they had never imagined. This is often because they didn't plan ahead. I often advise people that planning is crucial for a prosperous future. Even if you start with favorable circumstances, or born with a golden spoon, without proper planning, you might lose it all one day. It's advisable to have more than two sources of income to ensure you can meet your needs effectively.
There are people that are okay to stay with their lifetime with their good bosses and that's why even if you tell them to inject ideas like this, they'll not try it. It's about the comfort and steadiness that they're getting from their bosses and company. But those that are unfortunate and can't find a good company and boss. They're the ones that are eager to find their fortune with having a business and that's why they're trying it out.
Just to give the idea, not all that try it on the first try becomes successful and that's a fair scenario for most who are trying it. But good to those that are doing well and getting the idea on how to do things on their adjustment periods and these are the people that are eager to try new things and they're not building up and taking care of someone's business but their business, owned and it can be inherited by their kids. That's one good thing with having your own business but even with all of those encouragement, not everyone will have the balls to do this.
As long as the superior or boss you have is still in human form, you still have the potential to be approached and get attention because so far there have been lots of people who have tried it, but of course it requires quite a lot of capital because the boss will definitely see the achievements you have. But when everything you do is not appreciated by your superiors, it is better to leave the job and look for another job.Just to give the idea, not all that try it on the first try becomes successful and that's a fair scenario for most who are trying it. But good to those that are doing well and getting the idea on how to do things on their adjustment periods and these are the people that are eager to try new things and they're not building up and taking care of someone's business but their business, owned and it can be inherited by their kids. That's one good thing with having your own business but even with all of those encouragement, not everyone will have the balls to do this.
To start your own business, of course, you have to have a lot of capital and relationships, or if you don't have all that, you have to have a product that is really used by many people because it's not easy to get buyers until they subscribe to always buy from the business that we run.
I disagree about having a lot of capital, you can start little and test it and grow it if there's a progress. Not at all businesses you need to have a huge capital. It's also like trading that you start small and check out the market if it's okay for you before you add more capital. But I agree about relationships and this is called network. This is important in building a business because as they say, "your networth is your network". 
There are people that are okay to stay with their lifetime with their good bosses and that's why even if you tell them to inject ideas like this, they'll not try it. It's about the comfort and steadiness that they're getting from their bosses and company. But those that are unfortunate and can't find a good company and boss. They're the ones that are eager to find their fortune with having a business and that's why they're trying it out.
Just to give the idea, not all that try it on the first try becomes successful and that's a fair scenario for most who are trying it. But good to those that are doing well and getting the idea on how to do things on their adjustment periods and these are the people that are eager to try new things and they're not building up and taking care of someone's business but their business, owned and it can be inherited by their kids. That's one good thing with having your own business but even with all of those encouragement, not everyone will have the balls to do this.
As long as the superior or boss you have is still in human form, you still have the potential to be approached and get attention because so far there have been lots of people who have tried it, but of course it requires quite a lot of capital because the boss will definitely see the achievements you have. But when everything you do is not appreciated by your superiors, it is better to leave the job and look for another job.Just to give the idea, not all that try it on the first try becomes successful and that's a fair scenario for most who are trying it. But good to those that are doing well and getting the idea on how to do things on their adjustment periods and these are the people that are eager to try new things and they're not building up and taking care of someone's business but their business, owned and it can be inherited by their kids. That's one good thing with having your own business but even with all of those encouragement, not everyone will have the balls to do this.
To start your own business, of course, you have to have a lot of capital and relationships, or if you don't have all that, you have to have a product that is really used by many people because it's not easy to get buyers until they subscribe to always buy from the business that we run.
There are people that are okay to stay with their lifetime with their good bosses and that's why even if you tell them to inject ideas like this, they'll not try it. It's about the comfort and steadiness that they're getting from their bosses and company. But those that are unfortunate and can't find a good company and boss. They're the ones that are eager to find their fortune with having a business and that's why they're trying it out.
Just to give the idea, not all that try it on the first try becomes successful and that's a fair scenario for most who are trying it. But good to those that are doing well and getting the idea on how to do things on their adjustment periods and these are the people that are eager to try new things and they're not building up and taking care of someone's business but their business, owned and it can be inherited by their kids. That's one good thing with having your own business but even with all of those encouragement, not everyone will have the balls to do this.
Just to give the idea, not all that try it on the first try becomes successful and that's a fair scenario for most who are trying it. But good to those that are doing well and getting the idea on how to do things on their adjustment periods and these are the people that are eager to try new things and they're not building up and taking care of someone's business but their business, owned and it can be inherited by their kids. That's one good thing with having your own business but even with all of those encouragement, not everyone will have the balls to do this.
if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.
Do you really think that those who are working for an entity doesn't have another job doing or doesn't have a personal business?Well, like I will always like to say nobody will come here to announced about their other source of income or having a total dependency of their government job like you said 9am-5pm job. Only armature who will keep announcing to people about their other jobs or source of income most people is applying security majors due to how the world is currently don't want to start showing off to what other side business they have.
Although from my experience, whenever a government worker is being occupied or to those who are working for an entity they could finds it very difficulties to start their own personal business why because their current job doesn't give them that space to start growing their personal business till maturity or to the level of yielding a good profits.
For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.
It's not a certain recipe which is going to work for everyone who executes this. We have to keep in mind economies work in complex ways and that starting a business requires investments and involves risks which may prevent the entrepreneur from recovering his money. Moreover, it might be exhaustive to work in a small business besides the regular job, what will prejudice the mental health of the individual. So it might not worth at all, unless the idea has a good chance of working since its very beginning, after a serious and deep analysis is made taking into consideration:- The location where the business will take place;
- Purchasing power of the population around the business, and target public;
- Regional demand for the kind of service or product you are going to offer;
- Disponible budget to invest and forecast of how long it's going to take to recover the initial investment;
- How many hours you will be able to work in your small business daily and how many days of the week it's going to be open.
If all those basic requirements match, then I would say you can go ahead on your venture. If not, don't bury your idea too soon, but think about it more carefully until you elaborate an efficient way to put it in practice.
Single salary is not enough for satisfying your status therefore keep finding another job opportunity or any business which will not only make you profitable but your whole generation will take profit from it. Investment is the basic helper which help us during harsh condition when we have no other source of income and we are unable to do a job.
Remember that we cannot perform same as we are performing during young age so we should make certain preparations for our future when we will be retired and not young to carry out any business. People don't think about future and when they need money then they regret for past therefore it is must that if you have money then set some source of investment that will aid in your income.
Yes that's right. Of course, to satisfy our status or be able to be financially free in the future, of course we have to rack our brains to find various additional income and of course investment is the best way for now, especially investing in Bitcoin, which makes future finances guaranteed.Remember that we cannot perform same as we are performing during young age so we should make certain preparations for our future when we will be retired and not young to carry out any business. People don't think about future and when they need money then they regret for past therefore it is must that if you have money then set some source of investment that will aid in your income.
If you still have one source of income, you must immediately get additional income. Because while you still have a salary you have to make the best use of it. If one source of income stagnates, there are still other sources of income. After all, which is better to work 8 hours building other people's assets or 16 hours building your own business or investing? When we are young, we must have a mindset that is far ahead, use the best possible time to build financial freedom in old age, don't regret it later because time cannot be turned back.
I do not know for other countries, but in my country government workers don't get sacked and are given a particular years to retire after service to the government and are given huge amount as pention so they can use to start up a good business.
Taking the pention out of the box, it will be wise to every employee to start up a good business that will begin to fetch them money before their retirement. Business takes time to grow and reach a stage where you can be receiving good profits with out affecting the business. So the early we think and establish the easier and convenient we become after retirement, having something to lay hands on for income.
Taking the pention out of the box, it will be wise to every employee to start up a good business that will begin to fetch them money before their retirement. Business takes time to grow and reach a stage where you can be receiving good profits with out affecting the business. So the early we think and establish the easier and convenient we become after retirement, having something to lay hands on for income.
Someone have to work under someone, it's just the way the world works, if you all become bosses I wonder who will work under you, it's not bad to be employee, it's call balancing, and its also not bad to work your way up and plan something better for yourself.
Even if you end up with your own business you will start hiring, isn't it? Everything is a gradual process, gain some knowledge and work your way up, give others the same opportunity too, I have served under few bosses before and today I am no longer working under anyone.
Some people don't have plans for themselves and such people are the highest in numbers, they just want to live on monthly paycheck and there is nothing you can do to make them think ahead into the future, also it's easier to call these people names but let's not forget that even those who have strong plans don't always live to see the whole plan unfolds, when we make plans it's left on heavens to accept them with a YES.
Everyone being a boss is unrealistic, right? But, that's not the endgame. Ambition, the desire to rise. We acknowledge - being an employee is not a lesser fate; it's a stepping stone. Everyone's journey is different, but don't stagnate. We must learn from every role and assignment. Doesn't that define personal and professional growth?Even if you end up with your own business you will start hiring, isn't it? Everything is a gradual process, gain some knowledge and work your way up, give others the same opportunity too, I have served under few bosses before and today I am no longer working under anyone.
Some people don't have plans for themselves and such people are the highest in numbers, they just want to live on monthly paycheck and there is nothing you can do to make them think ahead into the future, also it's easier to call these people names but let's not forget that even those who have strong plans don't always live to see the whole plan unfolds, when we make plans it's left on heavens to accept them with a YES.
Thinking about people who are happy with just getting paid, are they really happy? Maybe they're not reaching their full ability. What's happening now needs to be questioned! But it's not about putting down their decisions; it's about sparking an ambition. As the saying goes, not all plans come true, but isn't that what makes us unique? Even if we don't reach the stars, we shoot high and plan carefully, and we always end up higher than we started. That's growth, and that's the personality we need to encourage in everyone
For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.
With current economic situation, inflation and all things getting more expensive, side hustling is a must, even when without the possibility of being laid off by our company, and more reasons to do so when there is that risk. The inflation growing more rapidly compared to our salary growth, without side hustling we actually earn less.
Tho some argue that some people doesn't have the time for side hustle but we must spare the time, we couldn't only rely on government to fix this problem, need to find our own solution while blaming the government for their incompetence.
Someone have to work under someone, it's just the way the world works, if you all become bosses I wonder who will work under you, it's not bad to be employee, it's call balancing, and its also not bad to work your way up and plan something better for yourself.
Even if you end up with your own business you will start hiring, isn't it? Everything is a gradual process, gain some knowledge and work your way up, give others the same opportunity too, I have served under few bosses before and today I am no longer working under anyone.
Some people don't have plans for themselves and such people are the highest in numbers, they just want to live on monthly paycheck and there is nothing you can do to make them think ahead into the future, also it's easier to call these people names but let's not forget that even those who have strong plans don't always live to see the whole plan unfolds, when we make plans it's left on heavens to accept them with a YES.
Even if you end up with your own business you will start hiring, isn't it? Everything is a gradual process, gain some knowledge and work your way up, give others the same opportunity too, I have served under few bosses before and today I am no longer working under anyone.
Some people don't have plans for themselves and such people are the highest in numbers, they just want to live on monthly paycheck and there is nothing you can do to make them think ahead into the future, also it's easier to call these people names but let's not forget that even those who have strong plans don't always live to see the whole plan unfolds, when we make plans it's left on heavens to accept them with a YES.
Right, that's not wrong. If you already work in that field (contractor) I think there is a lot you can do there, especially if the owner of your company already has a lot of experience. For example, you can take over the work in terms of calculating the final mutual check before payment for the project is made, whether the work is obtained from a government or private agency and usually there is a fee for it and the value is quite good for a final report.
Work like a contractor can actually be quite profitable if the company is very good at managing all costs and managing its workers well enough. Because it will not be easy for a contractor to be successful if the company does not have good planning when the project is carried out, and of course this must be thought about beforehand. Although there is a plus point in calculating the final check, it can be done by the contractor if the work is completed on time and there are no obstacles. 
Problem is that starting a business and maintaining it is far easier said than done op. Furthermore, only some people have proper business related skills while the rest lack them due to which this is a risky proposition.
Instead, I advise investing in low-cap altcoins with great potential and HODL which could lead to a great secondary source of income in the future if they explode.
Instead, I advise investing in low-cap altcoins with great potential and HODL which could lead to a great secondary source of income in the future if they explode.
Without proper skills and investment, it's really hard to start anything. There are too many of us on the planet, so it's kinda impossible for each of us to have a business and make money from it. I guess it's on each of us to try and some will succeed, some will fail, that's life...
When it comes to investing in low-cap alts I like the idea, but like with every other investment it's hard to find the right one, and there's that period of waiting, some people can afford to wait, and others need money today.
I have only one advice, people should try different things while they are young... it's easier to take some risks when we are alone without family to support. When late years come it's hard to find time and energy for additional jobs and taking care of family.
Based on the country I live in, people who do government jobs don't need to trade any other business besides government jobs. Because in our country government employees are given pension. When they don't have a job they can get through their later life with the pension money. If he wants he can do business with his pension money.
But in private companies there is a risk with jobs, today there is a job, tomorrow there may not be a job. Those who work in private companies should do some small business along with their job. But in our country, if you work in a private company, you don't get time to do business. Investing in Bitcoin can be a good option for those working in private companies. Because if you invest in Bitcoin in DCA method while working in a private company, you can earn a lot of profit in future. Which will be positive for the future.
In Bangladesh Government employees don't have to worry about losing their jobs, but those who work in private companies throw them out if they don't perform well.But in private companies there is a risk with jobs, today there is a job, tomorrow there may not be a job. Those who work in private companies should do some small business along with their job. But in our country, if you work in a private company, you don't get time to do business. Investing in Bitcoin can be a good option for those working in private companies. Because if you invest in Bitcoin in DCA method while working in a private company, you can earn a lot of profit in future. Which will be positive for the future.
Like you I am also a citizen of Bangladesh and I have been working in a private company for a long time.But I have been exempted from that which is why I am currently unemployed but I used to purchase some amount of bitcoins when I was employed.I used to buy bitcoins on dollar cost averaging method almost every month not much but five dollar amount I bought bitcoins.I am currently involved with a masonry job where I keep some of the payments I receive at the end of the week to invest in bitcoins.I am trying to hold my invested bitcoins for the long term.
For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.
Based on the country I live in, people who do government jobs don't need to trade any other business besides government jobs. Because in our country government employees are given pension. When they don't have a job they can get through their later life with the pension money. If he wants he can do business with his pension money.But in private companies there is a risk with jobs, today there is a job, tomorrow there may not be a job. Those who work in private companies should do some small business along with their job. But in our country, if you work in a private company, you don't get time to do business. Investing in Bitcoin can be a good option for those working in private companies. Because if you invest in Bitcoin in DCA method while working in a private company, you can earn a lot of profit in future. Which will be positive for the future.
For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.
It might not necessarily be a business because not everyone is good in doing business, it can be an investment of building apartments for renting which can generate money monthly or yearly, it can also be investment of going into agriculture or any other investment that is very profitable that one can always look into after retirement. People fail to make plans like this when they are at work forgetting that they will not have their forever. Having a business plan for the future knowing that it is your personal own is just the best. Money earned from salary is fixed amount that will be recieved for a longtime , but profit in business or investment are not fixed and it is very profitable expecially when the business or investment is growing.
Relying on one source of income has become difficult, but many do not have the option to have a side business, such as starting a small business and growing it gradually, either because there is not enough money, or there is no space, or there is no time and experience, or problems in marketing and reaching customers, so it is better to try.
It's not too difficult when you are single, but for a married man with at least 1 child It's gonna be a battle for survival everyday and with just one source of income that means there's no time for a time off.
People will usually rely on finding another part time job than starting up with business from scratch, because business is too risky plus a 9-5 job will not allow enough time to manage a newly opened business and that's a very difficult situation. As far as Im aware of, for the business to become successful it usually requires double or triple of your time and effort when you're still working for someone.
Single salary is not enough for satisfying your status therefore keep finding another job opportunity or any business which will not only make you profitable but your whole generation will take profit from it. Investment is the basic helper which help us during harsh condition when we have no other source of income and we are unable to do a job.
Remember that we cannot perform same as we are performing during young age so we should make certain preparations for our future when we will be retired and not young to carry out any business. People don't think about future and when they need money then they regret for past therefore it is must that if you have money then set some source of investment that will aid in your income.
Remember that we cannot perform same as we are performing during young age so we should make certain preparations for our future when we will be retired and not young to carry out any business. People don't think about future and when they need money then they regret for past therefore it is must that if you have money then set some source of investment that will aid in your income.
The single salary was not the enough to run the current life,because the government getting more taxes from the people.After the evolution of complete economy based upon the government,the government are independent of introducing the taxes on people.From the soap to food,everything we are paying the hidden taxes.Ths saddest part is many illiterate don’t know about their hidden taxes in the good and services.So the income should be increased by many sources.If the family contain 8 people,atleast 4-5 should get into job to manage their complete expenses.
Having a stable job does not guarantee that you will never experience financial struggles. No matter how well compensated you are, there are really times that your funds are very tight and would hardly afford to provide all the basic needs. The reason why having another source of income is a must. Don't worry if the profits is just small, the fact that you only consider it as additional funds or profits, then it's not necessary that it should be big or huge.
But sometimes, the least you expected that your business profits will only serve as reserved funds because you have your main and stable job, you will only be surprised that what you gain from your business is already the one you've been using to provide majority of your family needs. So the profits from your business has already exceeded the one you are getting from your main job.
But sometimes, the least you expected that your business profits will only serve as reserved funds because you have your main and stable job, you will only be surprised that what you gain from your business is already the one you've been using to provide majority of your family needs. So the profits from your business has already exceeded the one you are getting from your main job.
The people looking for the government job only for the secured salary from the government,the work is same for the people who work in private sector or government.The private employees work 4-5 times of government jobs work,but the government job holding people will get their income till their 60 years.
For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.
We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.
In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked. think about it.
We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.
In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked. think about it.
Everyone who wants to break free from a boss, whether you are in the public or private sector, should always be seeking to expand their earning abilities and sources of income. However you don't necessarily need to build your own business to achieve this aim. There are little slices of strong and established businesses that you can purchase on the open market every week day - at the stock exchange. If you earn enough in your main job, then you can buy chunks of stocks and build an income from dividend payments or re-invested profits that grow the share price. The main lesson is, it takes money to make money and don't expect to get rich over night - almost everyone who self made it big put in a lot of effort and made sacrifices.
I agree with your comment, it is not enough to have a single source of income unless you are rich and a lot can be done with proper time management.
Having another source doesn't matter how rich the person is, it is very difficult for someone to be rich in only one source because as for me, a person with only one source is not a rich person because any slide mistake he makes will result in nothing and even his competitors can easily set trap for him, apart from this one source income doesn't have longtivity because there are no other sources to support it. Some business owners develop numerous enterprises for a variety of reasons, some of which are to service the primary source of funds in order to reduce borrowing. Jump to: