Etini
Valued Contributor
When it comes to finances and cash flow, there are many endeavours that people undertake to have finances flow into their lives. A typical of such endeavour is working to earn salary or wages. While it is the most prevalent source of income, if has been proven to be very limited in it's potential to provide stability and sustainable wealth. It would be folly for anyone to base his or her entire livelihood on a salary. Here are few reasons:
1) With salaries, your income depends on factors beyond your control: Someone can just dislike or envy you and decide to sack you or set you up and you lose your job. At that point, your entire life is completely paralyzed because your life depended on a salary.
2) You must always expend efforts to earn money: With salaries, if anything happens and you can't make it to work, you would not be paid. Unlike other cash flow levels that income doesn't really depend on your efforts. Working for a salary completely depends on your efforts to get paid. That renders you devoid of income if you are sick or incapacitated.
While we all started out with a salary, don't stay there. Create other sources of income that have different characteristics from the salary Income to enjoy financial stability.
1) With salaries, your income depends on factors beyond your control: Someone can just dislike or envy you and decide to sack you or set you up and you lose your job. At that point, your entire life is completely paralyzed because your life depended on a salary.
2) You must always expend efforts to earn money: With salaries, if anything happens and you can't make it to work, you would not be paid. Unlike other cash flow levels that income doesn't really depend on your efforts. Working for a salary completely depends on your efforts to get paid. That renders you devoid of income if you are sick or incapacitated.
While we all started out with a salary, don't stay there. Create other sources of income that have different characteristics from the salary Income to enjoy financial stability.