Never has there been a time like what we face right now. Our lives have been revolutionised by technology, globalisation has been the buzz word in government. And an internationally connected economy has made more millionaires than there ever has been before. But are we heading in the right direction?
Now first let me assure you, I’m no economist. I also am relatively young at just 30 years old so I cannot say I have seen it all. What I would say is that im an observer and I watch closely. I’ve seen the way life has changed in only the past 10/15 years from when I was a teenager and im mesmorised by the amount of changes in such a small space of time.
In 2008, the last financial crisis we saw the housing market collapse, in the greatest shake up of wealth in a generation. We have seen the middle class virtually disappear, and as with all recessions we have seen the rich get rich and the poor get poorer.
Now what is the difference between then and now, well it seems not even all of the rich are immune to the damaging effects of a global pandemic. Unless you are apart of the very top and I mean the top 10 earning individuals in the world have all seen their net worth increase by billions during this time.
So how do we survive in a time of uncertainty? A time when your employer may close at any minute? Where your livelihood is at risk?
The answer is building streams of passive income. One thing ive learned through this experience we call life is that its not how hard you work its how smart you work. My dad worked hard for 30 years trying to build a life for himself only to see that 2008 recession take everything he worked for.
We have seen you can lose money so easily in this life, so for me, I believe the only way we attain it should be easy.
- Evolve or adapt
We live in a world of constant change. Be emersed in it. See most people fear the unknown, they need to have some level of control to feel safe. Embrace change, in fact make change your comfort zone. If you do not, you will be left behind. Those that are left behind will be sour and ridicule from the sideline, but they wont be in the game! Don’t let it be you. Subscribe to as many enlightening pages as you can, follow the tech pages, read the articles, be a sponge for knowledge. But also keep dreaming and keep innovating, its no good allowing yourself to become a replica of whats been before. Tap into your innate creativity that’s installed in you as a human.
2. Read and research
Following on from my last tip I cant stress the need to be constantly reading and researching. If you have an idea, research it, see that its not being done or whether you have been beaten to the mark. I have to google whether things exist on a daily basis, that’s how I know im close to the edge of new success at any moment. Read up on other success story’s, how did they come about? Was it luck? Usually its not.. usually its crafted, its planned, its researched and executed. Theres an old IQ test where you had to draw lives to connect the dots and the only way you could do it was you had to go outside the box. Think outside the box, always be thinking bigger.
3. Now or never
That idea you got.. the one you have been sitting on for 3 years, yeah its time to bring that to surface. If anything this pandemic has shown us, uis that time waits for nobody. Youll never be more ready than you are right now, and those excuses you keep making afre beginning to sound dumb. Give your dreams a chance. The wealthiest place on earth is not the diamond mines of sierra leone, its not the oil in Saudi Arabia, the wealthiest place on earth is the cemetery. Where dreams have not been fulfilled, books have not been written, songs have not been sung. Make sure you leave it all out there, Don’t be haunted by what you haven’t achieved when you finally lay to rest.
Automation is the future, ai technology is about to wipe out 50 percent of jobs by 2030 and you may not be an essential part of the work force. But even if youre not, you still have a chance to diversify your income.
Gone are the days where you can get by on the sweat of your brow.
Working will earn you a living, investing will earn you a fortune.
Start investing today in different forms of passive income, for our world is becoming much more passive in itself and the laborious tasks are becoming easier through apps and disruptive tech. Make an investment plan today.