It’s kind of funny. But ever since I was a kid living in China during the 80s, still a time when most of locals talked more about communism than capitalism, I knew that I wanted to be rich. And until I was in my early 20s, I thought of wealth in terms of the accumulation of money. But it was after reading Rich Dad, Poor Dad that I began to think of cashflow as the means for financial independence.
It’s actually a very simple formula. When your passive income, or money that flows in even when you don’t have to actively work, exceeds expense, then you are essentially financially independent. Of course how you build that passive income requires hard work, unless you win the lottery or get a generous inheritance. I had planned on 2 ways to achieve my dream, real estate & business startup, and originally planned to do the former. However, being rather conservative with money, I thought that the housing market was outrageously expensive, a bubble waiting to pop. So far, living in Seattle area, I’m still waiting for it to happen…
The other option is to build my own Internet publishing business. Having the experience in the industry in my previous jobs, I feel pretty confident about my success. But I still work like a manic to get if off the ground. It’s a risk that I willing to take for a better future.
You know I haven’t really been that consistent in maintaining relationships unfortunately. Stuff always seem to happen, and I don’t have the time or energy to make the call or even an email. And pretty soon, friends become acquaintances, and acquaintances become strangers… I guess it comes down to 2 simple things, determination and organization. By determination, I mean be able to reach out to friends even when you don’t feel like it. And having organization means keeping track of the contact information and little details that shows you care.
So I challenge everyone including myself to start today and reach out to friends whom you haven’t been in contact for a while, and let them know that you still care…
Reserves are the stuff during normal situations not very important, but lifesavers in emergencies. Imagine how acrobats would feel if they’re 60ft up in the air swinging without a safety net below them, and you get an idea of a reserve’s value. This concept can be apply to everyday lives such as wealth, health, and relationships. In each aspect, we can strengthen and increase the reservoir if we make a conscious and determined effort. Losses will hurt, but only a lot less if we have other supports already in place.
So take an assessment of your own life and decide what reserves you might need down the road.