Sunday, November 15, 2009

Path To Financial Freedom? - Part 1

Why do we want to seek the path to Financial Freedom (or in my case Financial Independence - getting out of Rat Race: http://createwealth8888.blogspot.com/2009/10/what-is-rat-race.html and http://createwealth8888.blogspot.com/2009/04/four-financial-progressive-stages.html)


The official Retirement Age in Singapore is 62, and optional at 60 i.e. if you opt to retire at 60, then your company is required to pay you whatever you are entitled for retirement benefits. The retirement benefits provided by company will vary from company to company.


The Government will raise the official Retirement Age to 65, and not sure how will it affect the optional retirement age at 60? Maybe, the government will raise the optional to 62. Sorry, you got to work longer.


Why do we want to retire early from our paid jobs? May be all works suck as an employee? http://createwealth8888.blogspot.com/2009/11/all-work-sucks.html


For me, it is not really the works that are suck; but more of years of seeing those ex-seniors being slaughtered by Mgmt to improve their bottom line. These ex-seniors are once HORSES; but later ended up like COWS plowing the field, got milked by the management, and later got slaughtered and replaced by future young HORSES. Older staff are depreciating assets and always deem not cheap to be hired.
http://createwealth8888.blogspot.com/2008/06/old-employee-depreciating-asset.html
http://createwealth8888.blogspot.com/2009/10/horse-cow-and-pig.html
http://createwealth8888.blogspot.com/2006/12/staying-employed-may-give-us-false.html
http://createwealth8888.blogspot.com/2009/04/management-letter-to-staff.html


That is the reality of corporate life and only fews can escape from becoming COWS. Never be fooled by your Job Security.


Open your eyes wide and start thinking as early as possible before it is too late to prepare anything that have lasting impact to your Wealth Life Cycle.

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