Food for thought

[Obim34]

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.

[ndutndut]

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.

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.

[uneng]

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.

[SmartGold01]

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.

[passwordnow]

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.

[TopT3ns]

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.

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.

[passwordnow]

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.

I don't understand about a boss that's still in human form. Do you mean to say about their behavior are not like humans? They're treating their employees like as if they're garbage? Well if so, there are boss that are like that and that's why many employees are just forced to go to their jobs because of the bills that they're paying even if they dislike the job, the boss and the environment. They are still waiting for some opportunity before they get out of it, this is normal in many companies today about having a lot of toxicity. That's why before leaving, you need some reserve and back up because if you don't, you'll have trouble for your expenses when you have no replacement and you left.

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".

[Hatchy]

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.

[NewRanger]

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.

Exactly @Hatchy and very wise if I read your review above and it is very understandable for all of us here, especially if you are married then you have to try harder so that your family can increase its income and not just rely on one source of income.

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.

Someone whose profession is already working in a bank, I am sure whether he will apply for early retirement or end his working period well As far as I remember, there was something called severance pay in the form of a bonus at the end of the term of office as a form of appreciation for bank employees who had worked. But the main problem for them is how they will enjoy it, whether it will be redeveloped or just used to cover their retirement costs.

In another case, if the employee makes a mistake and has a big impact on the good name of the institution where he works, then he will receive a warning and receive nothing more (dismissed without honor).

[zaim7413]

Don't depend on just one source of income, if something happens that we don't expect to happen, at least there is another source of income that you can rely on to support your life. Having a side job outside of your main job can help or be the best solution when something happens to your main job.

Financial well-being needs to be maintained properly, just like a chair has four legs to support someone who is sitting, the stronger the legs of the chair, the safer the person sitting on it. Likewise with sources of income, the more sources of income, the more financial security you will have. Building a source of passive income is an important aspect for future planning. If you lose one source of income, you are still financially safe because there are still other sources that can bring you money.

[0t3p0t]

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. You should start investing early and at a young age, and when you reach the age of thirty, then you will think about starting a family, and then you will have surplus money and experiences.

True. That is why aside from my day job I have a side hustle here on the forum. I am saving right now because I am planning to invest in something. Starting a family is not a joke because it is literally a liability.

[bussybuddy]

Relying on just one income stream in this unpredictable world is like balancing on a single tightrope above a pit of uncertainty. One wrong wobble, one gust of economic wind, and you're plummeting down with your financial security in tatters. That's why diversifying your income avenues is more than just a good idea, it's a lifeline.

Multiple income streams as building a safety net, not just from a financial standpoint, but also from a psychological one. Losing your main job wouldn't send you spiraling into panic with bills piling up like storm clouds. Instead, you'd have the reassuring cushion of other income sources, like a side hustle, rental income, or even smart investments, keeping your head above water while you navigate the choppy waters of job searching.

[gunhell16]

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. You should start investing early and at a young age, and when you reach the age of thirty, then you will think about starting a family, and then you will have surplus money and experiences.

In this day and age, it is very difficult for us to just rely on one source of income. Even just supporting ourselves is difficult to do. What if you have a family with a wife and children? right? It is necessary in times like this that we have other alternative sources of income.

If those in other countries who are OFWs are still looking for other ways to earn money apart from the work they have there, these people who are already abroad, then we in our local country should also be diligent like them, for at least we get what we need for our families that we support, and that is one of the main things we need every day: food.

[junder]

Don't depend on just one source of income, if something happens that we don't expect to happen, at least there is another source of income that you can rely on to support your life. Having a side job outside of your main job can help or be the best solution when something happens to your main job.

Financial well-being needs to be maintained properly, just like a chair has four legs to support someone who is sitting, the stronger the legs of the chair, the safer the person sitting on it. Likewise with sources of income, the more sources of income, the more financial security you will have. Building a source of passive income is an important aspect for future planning. If you lose one source of income, you are still financially safe because there are still other sources that can bring you money.

That makes sense, I think if you only have a job with a limited income that is only enough to meet basic needs and to save, sometimes it is difficult to save because your limited income is only enough to meet basic needs, it makes sense to look for a side job , they can do this to get more income and of course if they generate profitable income it can help their economy financially as long as they have the desire to do it I think they can do it, by having a limited income they are afraid that when problems arise that suddenly arise. -Sudden, such as an accident or any problem that is sudden and of course requires money to overcome.

I like what you say, friend, I have also received advice like that, where he said, we must have more than 1 source of income, it is good to have income from 4 sources, because it is like the legs of a chair, when we have 4 businesses that generate profits , of course we can sit safely, and if one is broken it is still safe because there are still 3 legs, now imagine if you only had 1 business or source of income there is no way the chair would be safe to sit on, and I feel motivated by He conveyed this sentence to me, therefore I myself want to have a business to recruit my friends who are not yet working, because that way I can indirectly help them economically or financially.

[NewRanger]

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.

In this case, perhaps you are right to see this condition, policy making and economic reform are deemed necessary by the government in terms of regulating the prices of goods/services, both for basic and secondary needs for large traders so that they are not monopolized and excessive so that we as consumers are not too burdened and are able to buy them. especially when the current economic situation is increasingly uncertain.

Although, maybe our responses and expectations are different, where there is an impression that prices are only going up and our salaries are no longer enough to cover everything as we used to do before.

This is also a challenge in itself, especially for us as heads of families and there must be room to look for additional activities that generate income so that these demands can be met.

[Promocodeudo]

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. You should start investing early and at a young age, and when you reach the age of thirty, then you will think about starting a family, and then you will have surplus money and experiences.

The problem here is some people don't like doing things on their own they like the trap called salary, so many big them like the slavery, once the salary is able to satisfy there immediate needs the don't see establishing a little business as an option again, but they fail to understand the fact that anything is possible, we have to think more things to do so that when there is financial crises we can easily boost of something to fall back to, I have watched people that concentrated on their job without investing in things that will be beneficial or bring more earnings to them, many of this set of persons are poor today because of there failure to do the right thing at the right time, people don't believe in investment or even saving, the only thing that they know is lavishing and thinking that tomorrow will be better than today without planning for tomorrow.

[JoyMarsha]

There is a saying that " You can never be rich, working for someone " But that does not mean that being an employee is bad. The need is that every employee should not put all their needs on salary is very important because having a legit side hustle or business that pays will go a long way for someone to survive in this global hardship hovering around the world, affecting the citizens of every country to excel in life.

One source of income is artificial poverty. Most employees spend more than what they earn, error. While doing the monthly pay job, they can learn a skill or apply for other part-time jobs, hence it won't clash with the one they are doing already.

[NewRanger]

There is a saying that " You can never be rich, working for someone " But that does not mean that being an employee is bad.

It is true that there are limits so it seems to us that, like the saying you say, to get out of them you also have to have more skills and this is enough to help us so that we can fill important positions where we work.

Oh, I remember my friend who has worked for a long time in trading with Chinese people as an employee and is trusted and wants to resign with honor. What did the Chinese say. Make a shop and open a business first. If you do that we will support you. But if that's not what you're doing, we're sorry we can't help you further. This means that there are opportunities in the future that can make us people who have more rights in the future and I'm sure why they suggest that is because they have done it repeatedly and succeeded.

[Dewiana]

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. You should start investing early and at a young age, and when you reach the age of thirty, then you will think about starting a family, and then you will have surplus money and experiences.

In this case we must be grateful that God still gives us the blessings of faith and Islam, so that even if we are fired from our jobs in the government or company we can still work elsewhere, now what we focus on is loving and starting our business, even though the business is small but very meaningful. , we are not controlled by other people, but we are the ones who manage people while honing ourselves to have more expertise in a job, whatever the job is, and there must also be a definite target or mission, vision in life.

[Don Pedro Dinero]

There is a saying that " You can never be rich, working for someone " But that does not mean that being an employee is bad.

Like all sayings, there is some truth to it, but there are exceptions, such as being an NBA or NFL player. They work for others and they are rich. Or the CEO who earns 10 million dollars a year. But in general it is a saying that is quite true, for the man in the street is more likely to get rich by setting up a business than by working for someone else. However, setting up a business has its risks and the person who does it can end up much worse off because sometimes you have to guarantee the business with your assets so that it can continue to function, like your house, and if the business continues to go wrong you lose it.