I estimate that the productive years of a person starting from the time he graduated to the retirement age is about 40 years (let's say the person started working 23 years old, and then retired at 63). Our maximum retiring age, at least in the Philippines is age 65. For the purposes of my discussion, I'd like to use round numbers for ease of computation.
Imagine, how many days, hours did you work and slave, for money?
40 years x 52 weeks x 5 working days = 10,400 days
10, 400 days x 8 hours regular work hours = 83,200 hours
83,200 hours x 60 minutes = 4,992,000 minutes
Now, let's compare this to the hours and days you spent in a year for relaxation (i.e. weekends)
in the same duration of 40 years.
40 years x 52 weeks x 2 weekends = 4,160 days
4,160 days x 14 hours of happy time* = 58,240 hours
58, 240 hours x 60 minutes = 3,494,400 minutes
* You still need 8-10 hours of sleep hoarding time for both weekends correct?
Each minute is priceless.... for everything else, well you can pray.
These figures are meant to drive home an important point. We don't want to be working until our bodies can't anymore. We've only got one life. Let's make the most of it and enjoy what life has to offer. But before we can do that, we have to have good sources of income.
We don't want
- Working and then using all our savings to pay for our hospital bills 40 years after
- To be an employee until we retire
- To work for money until we grow old and gray
We want
- Money to work for us
- To have time for ourselves and for our family
Sounds too good to be true? Well, let's discuss more and then you decide.
I'll discuss more of passive and active income. For now, think of the sources of income you have. Most likely, 70-80% of your sources are from your employment or your business. The rest are scattered across useless time deposits and even more worthless cash deposits.
See you again in my next entry. In the meantime, try to have an honest look at your finances.
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