The majority of us Filipinos are living from paycheck to paycheck. We are at the mercy of our jobs. Without it, we don’t know of any other way to earn. We are tied to the dogma that the only way to earn a living is by working our butts out. It’s the only way we view the world.
On the other hand, some fellow kabayans seem to march on a different drumbeat. To them, being an employee is not the only way to earn a buck. This observation parallels that of one author whose famous book is a household name among financially literate folks.
In “Rich Dad, Poor Dad”, Robert Kiyosaki explained that while his father seemed to be doing the “right way” of earning his keep, having only one source of income ultimately lead him into a “poor” life (hence, “Poor Dad”). On the other hand, his “Rich Dad” continued to accumulate wealth and build businesses even without proper education and the safety net of a paying job.
As some of you may already know, Rich Dad was operating on the “B” and “I” boxes of the Cash Flow Quadrant (CFQ). To the unfamiliar, the CFQ is Kiyosaki’s breakdown of the four types of people who are classified according to their way of earning a living.
Cash Flow Quadrant:
E = Employee
S = Self-Employed
B = Business
I = Investor
Kiyosaki stressed that to be truly wealthy, you have to be on the B and I quadrants, just like his Rich Dad.
He urges us to wake up and realize that having only one way of earning is risky and even dangerous. He wants us to adopt his Rich Dad’s mindset because he believes it is the secret to financial freedom. Freedom to live a meaningful life wherein you can pursue your passions and travel the world. Freedom to spend time and provide a comfortable life for your family. And lastly, the freedom to live a life that you have always dreamed of.
A blog that teaches “Filipinos how to win in the real world”, Grit.PH, made a comprehensive list of the Top 10 Investments for the Young Professionals and Entrepreneurs in the Philippines that aims to serve as a guide towards financial freedom. Below are 10 ways.
10. VUL Insurance
9. P2P Lending
7. Mutual Funds
6. Small Business
5. Real Estate
3. Buying Websites
2. Forex Trading
1. New Skills
Visuals made by The Bright Millennial on Facebook.
About the Author:
Amiel Pineda is a business columnist at Grit.PH and the authored the 100+ Small Business Ideas in the Philippines. Amiel escaped from the shackles of BPO life and now pursues his dream of writing full time.