Why did you go broke?
Are you financially stable ? This is probably the most important question that all of you who are in their middle age should ask or at least examine.
In fact, every responsible individual who has completed the age of 30 should contemplate and plan ahead for options and opportunities that would guarantee financial freedom.
Now you might want to ask us why are we correlating middle age and financial independence ? Well, there are scores of reasons for that. Foremost, the world that we are living today has now entered the state of unpredictability.
Towards the dawning of the New Year’2020, every Jim, Dick and Harry were blowing their horns as to the list of Economic and Geopolitical predictions that would come to fruition for the year.
But ironically nothing will come to pass. If there is one thing that will surely come to pass then it is this, “if you don’t prepare now for your Economic future, you will verily perish”
30 is a death sentence when it comes to Employment?
A questionnaire was served to the CEOs of top 150 companies asking them to rate from a scale of 1 to 10, the list of prerequisites that they look for when it comes to hiring a potential employee.
97% rated age of the employee as the deciding factor, while 90% out rightly justified their reasoning, citing job stress that comes with the job profile would be too much for those in the higher age group bracket.
94 % are of the opinion that the young people are easily trainable to suit higher challenges. While 91% just feel that their company policies don’t just grant them the luxury of hiring the experienced.
While on one end this might sound encouraging rays of hope for the youths of the world, alternatively on the other end, it showcases the grim hopelessness and despicable nature with which the experienced are treated by the system itself.
Imagine, just when a person thinks and feels that he or she can take the world on, the curtains comes rolling down. You might wonder that this is just a one off scenario, if you were to think so, just check the list of new recruits in top multinationals against those experienced personnel who are either benched or sent home, the figures would alarm you.
Enter the world of AI and Robots
Employers are no longer willing to hire. It was reported for the year 2019, major corporations have either benched or sent a major chunk of their long serving work force.
Take Amazon for example, there was a time when scores of families lived off gainful employment while serving at Amazon warehouses. Today, 80% of them have been replaced by Robots, according to received reports.
Just see the commercials run by Amazon, you will find fancy Drones delivering products at doorsteps. To the onlooker it looks more fun and trendy, but to those who had felt the ax, this means the difference between life and death.
Why most go broke by 40?
It is found that 90% of the young people find glamour in hitting the offices at 9 and then heading out at 5, sporting a $ 5 cup of coffee and scanning their mobiles.
They often think and feel that they have all of the time in the world to get their acts together. Often meticulously putting those famous saying, “25 dollars and 25 years will look too much for a little boy and too long for a young man”, to practice, jot by jot.
Just head out to the streets and ask any young man or a woman, what are their plans for the future, most would either smile it off or would say that they have no clue.
The problem is, they don’t look beyond their I-phones. All they want is a social media fix, and a burger to go along with.
Why? Because most are comfortable working for someone else. They happily trade their time for the Monies that they get at the end of the month. This is nothing more than economic black hole.
The further up the career ladder you climb, the more deeper you sink, not even realizing the fact that you are neck deep into it.
And then the thirties roll out and suddenly a bolt from the blue strikes. You receive an email from your immediate boss. You walk in thinking that he has called you to mount you up with praises for the project well done. Hey! you just wait. The call was to inform you to pack your things and walk off quietly.
At this age, finding another gainful employment is not going to be a walk in the park. Of course you have some savings, but that would merely carry you for a month. With mortgage and car loan, and the credit card cash advance for the vacation that you took out, what are you going to do?
This is the usual typecast algorithm that is quiet often followed by 90% of the masses. The problem lies not in their stars but with their ignorance. As the saying goes, “being ignorant is noway an excusable crime”
The Fashion Revolution-Keep them spending, Keep them Poor
Have you ever wondered how much of your hard earned money had gotten washed through the drain all under the name of staying a tune to fashion?
Just take this exercise, sit down in a corner and start preparing an balance sheet of all the monies that you had spent on clothes, shoes and other accessories, over the past 10 years.
Guess what ? That very amount would keep you up crying for a lifetime. Now, suddenly you realize, you are heading towards your forties both broke and jobless, and what is more terrible is the fact that you are still on your couch watching NetFlix marathons.
Just wait, you are not an isolated case. This is the most common phenomenon that we see all around the developed world. A new Phone, a new bag, new pair of shoes, slippers, it is always something new and the new never stops.
The irony is, nothing is given free. You ought to sweat it out. It is said, it is not often the eyes of others that keeps you poor, but our own eyes. People spend hours on their phones, not even realizing that they are burning precious time off their lives, which could be otherwise used productively in some industry.
It is imperative to understand that Fashion industry is a Billion dollar industry, those who design and create brands and clothing wear often ply in BMWs and live in Presidential suites.
While the common girl, who thinks she too would become Tiffany, spends her life’s saving on buying the jewel which the banks consider nothing more than a hard piece of metal.
It is reported that people spend their best years of their time either window shopping or buying clothes and accessories which often would cost a dime right after the very minute of their purchase. Is this sensible ?
You might have spent $3000 on a Chanel cross, but the question here is, when you badly need those $3000, do you think Chanel would buy it back?
Even if you dared to do this , you would be merely offered the value that would hardly cover the transportation cost that you had payed to get there.
How about buying those Air Jordan? Don’t think much, buying them had made you $1000, poorer. In fact, those shoes had sealed off your opportunity to attend those much important workshop on Money Matters, run by the legend, Robert Kyosakki. On the contrary, Jordan is $ 1000 richer and there seems no turning back for him.
Retirement is worse than death ?
It is often said, 90% of the people within the first 5 years after Retirement go broke and end up on the streets. Guess what? It is hell out there, especially when the temperature hits freezing point. And here we have individuals who were once gainfully employed are now waiting for their maker’s call. Isn’t it terrible?
It is imperative to understand life is terrible and shows no mercy at all. All of us ought to accept this reality and prepare for it. Well yes, prepare. no one would do that for you, but you and you alone.
After a certain time in your lives, living with friends and families would take a toll on you. For the simple reason that their way of thinking would be directly opposite to yours. You might want to have supper on bed and stay out late in night, while they would prefer things done in the dining room and the main gate locked down by 10 pm. What are you going to do?
If you raise a concern it would end up in an unending arguments and bickering, where your heart would be wrecked into pieces and you would spend your nights, asking this question, “where did i really go wrong”
The answer is simple. You failed to understand the law by which life operates…to be continued
