Friday 13 July 2018

Avoiding Financial Risk

Performance reviews are usually being carried out at a specific date annually. It is a platform for employer to access the performance of employees throughout the year. But often people overlook the fact that it is also a chance for the employee to reflect upon whether their expectations are being met by continue working in this company.

My performance review last year was held in April but I didn't get my review in April this year. I was at first verbally informed that it will be held sometime in May. May came and went then June has passed, still no news on the upcoming review. It was then confirmed on the 11th July but only has it cancelled and changed to 13th July. So before even enter into the review, the management has given me a poor impression of their seriousness in looking after their staff. Only a week ago the managing director gave a motivated presentation in front of all the staff of the company reiterating that he wants to ensure that everyone grows together with the company. I still believe his commitment.

I've numerous occasions where people have been trying to ask me to work for them. There was even an offer to increase my salary by 20%! I turned all of them down believing that my loyalty to the current company will pay off. I thought I have made the right decision.

Then came the moment of the review which I have been waiting for more than 2 months. A few of my colleagues who joined the company later than me have all been promoted recently. Some has only just worked for a few months! So I was naturally excited walking into the room knowing that finally my hard work and dedication will be recognized! I was instead taken aback by what I was about to hear. I was told that I haven't been given the right opportunity and platform to shine and will need another 6 months to prove that I'm worth the increment. I felt like I have just been hit by a bus.

I ponder about this incident the whole night and I even asked GOD for guidance. I prayed: "GOD, you know best and there surely is a reason that you put me in this situation. No matter what it is, I believe that you know this will be good for me." 

I went to bed and woke up earlier than usual on a beautiful sunny Saturday morning. Made myself a cup of my favourite Old Town coffee and started writing this blog. My mind is clear as I taste the warmth and sweetness of the Malaysian coffee. I must start doing something about my life.

Most of us have a full time job and it is a blessing considering millions of people are unemployed. And we put aside around 30% of our time per week into our work. If you include another 2 hours per day of mental stress you have when you are not at work but thinking about work related matters, then the percentage would have increase to 35%. That is a huge chunk of valuable time that we are not going to get back. Most of us will also give 100% of our attention to our work. And this is where the risk comes in. 

If there is a lesson to be learnt from my recent review, it is that we are not in control of our financial future if we continue to work for people. I'm lucky that I was only told there will be no increment for the next six months. Others are not so lucky. Some people may be told to pack up and leave just like that when the company 'feels' that you are no longer needed. When you give 100% of your attention and 35% of your time to somebody else's business, you run into a major financial risk.     

We must diversify our income. The reason I'm writing this blog is one way of achieving that. I'm hopeful that my blog will one day become so popular that I can start earning income from it. There are people driving UBER part time and I've heard that some can earn close to $2,000 per week! Tony Robbins tells us that we must start investing portion of our income on a regular basis. 

It is an uphill task to achieve financial freedom, the key is to take the first step. We will never get there if we don't start. If you have a full time job like myself, one way is to take say 2 hours every night to build your business. It could be your blog, podcast, online marketing, run a Airbnb or whatever. We have to slowly reduce our reliance to our full time job so that we can engage ourselves more aggressively in the thing we love to do.

I know I'm going to start today. Hope you will start yours too. Good luck!

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