Get Out Of The Rat Race
In the last post, I wrote about the rat race. So, what kind of life does person in rat race have? Well, most probably they everyday doing the same things, working from 8 to 5. Everyday is hoping it is the end of the month because it is salary day. After receiving the salary, we got to pay different types of bills, insurances and loans. The leftover is used for entertainment purpose. Or some better financial knowledge people will save 5-10 percent for future. When do you think you can achieve financial freedom with just 10 percent savings? I guess the answer will be infinity or too long to be counted.
Rat Race
When you have a tire 8 hours of work, you have no more energy to do other things to increase your passive income. What you can do is just watching television or surfing net for one or two hours. That call a day. This is the life of people in rat race. This process continue until you have achieve your retirement age or never stop.
I am in rat race this year. I work from 10 to 5. Not much different from 8 to 5 because sometimes I have overtime too. This is not what I want as a teacher. I loss all my freedom to do other works to increase my passive income. I even don’t have the time to read a book per month. Luckily, I still conscious where I am now. I will save most of my salary for investment purpose and get out of the rat race.
Without strong determination of getting out of the rat race and then achieve financial freedom, we will easily pull down by the heavy duties everyday.
So business people consider as in the rat race as well?
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Mrcoolku Reply:
January 13th, 2010 at 6:00 am
When people start to do their own business, most probably they understand the theory of the rat race already. They want to get our of the rat race so they do business or become self employed so that they have more flexible time to do their own things and earn more than a fix salary. This will accelerate their speed to achieve financial freedom. That’s 2 cents.
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Ian Kree Reply:
February 19th, 2010 at 9:47 am
Smart businessmen build systems that make money for them, systems that doesn’t require their presence all the time. These businessmen design organisation charts, job descriptions and work flows (this include numerous audits to ensure that all money making procedures are followed and working well) – so that most of the tasks in money making process doesn’t require their involvement. (Then they could enjoy playing golf all day long – they aren’t lazy, they are smart.) This type of businessmen aren’t in rat race. Their money making systems are generating passive income for them. But (other) most businessmen are in rat race – this includes private doctors, dentists, lawyers, consultants … .
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Well, I don’t think every people start to do their own business understand the theory of rat race. I see those self-employed people who are still being occupied by their daily business works and having less time for themselves and family. May be they feel happy for that. But for me, the value of life is to spend more quality time with those I love.
As of my opinion, no matter you are an employee or running own business, you must work smart, spend smart and invest smart to get out of the rat race.
I am also still in the rat race now and I am working on to get out of rat race by early 40s.
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Mrcoolku Reply:
January 13th, 2010 at 8:49 pm
Maybe you are right that some self employed people still cannot get the meaning behind the rat race.
It is great to hear that you are trying to get out of rat race. Me too.
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Ian Kree Reply:
February 19th, 2010 at 9:57 am
Me too still in rat race. But I’m also racing to end this rat race. Being independent from my well-do parents, I quickly jumped into rat race, into job market. My advice to those who want to quit rat race, do not rush. I’ve done many mistakes in rushing to end my rat race. These mistakes prolong my rat race period, not making it shorter. But I’ve learnt from my past mistakes. While you are in rat race, you can build slowly your passive income, your money making system i.e. real estate, stock market (don’t speculate) and mutual fund. Why I say don’t speculate when investing in stock market – speculating trading isn’t passive income, it is active income. All the three mentioned are passive incomes, your ‘smart’ money making systems, which doesn’t require your presence all the time. If you by-heart this method, you could setup businesses that doesn’t require your presence all the time.
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Mrcoolku Reply:
February 21st, 2010 at 1:05 pm
Have to agree with you, those self-employed people actually is also in rat race. They work day and night. That is why actually I don’t like doing business. I prefer investing in a business which means other people running the business while I just borrow my money to them. Stock market is my prefer investing tools. It really can help you make money in order you do your homework and not simply buy it.
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I think i totally agree with Seng Choy. Quality time with family is the most important. See what you want in life. If you take money as your God then i can bet you won’t have time for your family.
I am also trying to get out brother.. Quick quick we all reach and run out from the rat race ok?
Cheers!
[Reply]
Mrcoolku Reply:
January 15th, 2010 at 5:42 pm
Spending quality time with family of course is the most important. We want to get out of rat race also because of them. But now, I will more focus on building wealth first. Still young, no need work harder else cannot work anymore when old.
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when you struggling your efforts for personel needs that is called rat race.when you happily doing what you want&when you want with peaceful of mind&body that’s called freedom.we have to create a strong purpose behind freedom.Purpose may be teaching or writting to who’r in lower level but full of eagerness.That purpose having strong motive will move our temporary setbacks to leading success.
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