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Catch the
Wave and Retire in Style!
A Facebook friend asked recently the question "What
is the best way to make the most money legally in the shortest time?".
My comment was: "Work hard, smart and most
importantly enjoy what you do. You will make the most money but not necessary in
the shortest time.".
On further reflection, I find the need to tackle the
question itself in greater details...
The main considerations I have with the question are:
- Who are in a hurry to make more money?
- Why do they want to get rich quick?
- How to make most money in the shortest time?
You will agree with me that most of us, at
one time or another, had wanted to make quick money for reasons best known to
ourselves.
The reasons to want to make more money quickly can range from urgent necessity
to meet life's challenges, to impatient greed.
These essentially answer the first 2 of the 3 considerations.
Let me now dwell further on the third consideration: "How
to make money in the shortest time?" by breaking the question into 2 parts:
- How to make the most money?
- How to be *wealthy in the shortest time?
*Wealthy is defined as having no financial worries and
the means to satisfy not just our needs but our wants.
1. How to make the most money?
Hard work alone does not guarantee that we can make the most money.
The fact is that many of us are living from paycheck to paycheck. We may be
working hard, but we are not getting ahead, instead, we are just getting by.
Some of us may even be facing the prospect of pay-cut, retrenchment or lay-off.
Ever wondered what will happen if you lose your job or the ability to work
tomorrow?
According to statistics from the US Social Security
Administration, at the retirement age of 65:
54% are broke,
36% are dead,
5% are still working for a living,
4% are financially secure,
and only 1 % make the most money and become wealthy.
This means only 5% of the work force ends up being
financially successful while 95% retire more or less destitute. Interestingly,
it is the same with trading where only 5% of traders are profitable!
While some top-paying execs, doctors, lawyers and stock
remisiers etc.,
may make $1 million or more a year, many do not.
If we aren’t among the handful of professions that earn big money, then we need
to do much more to prepare for our retirements like:
 | living well below our means |
| avoiding and getting out of debt |
| saving and investing wisely to protect the little
money we earn |
As wage earners, we get paid only when we are working.
When we stop working, our active income also stop!
We are essentially trading our time for money. Since our time is a limiting
factor, it is impossible to become wealthy in the short term!
In summary, working hard for active income may make us financially
sufficient, but it demands lots of sacrifices and take a long time to accumulate our wealth.
2. How to be wealthy in the shortest time?
Now that we know that trading our time for money is the limiting factor to
become wealthy, what can we do about it?
The answer lies in working smart for passive or residual income .
Working smart is when we can overcome our time limitation by leveraging the time
of others to create wealth for us.
Leveraging is not exploitation. If it is, then the
successful businessmen and the CEOs who are compensated handsomely for
multiplying the wealth of their businesses by leveraging on the time of their
employees will be termed as exploiters!
Passive income is income that we will get over and over
again for the work that we need to do only once.
The royalties received by
pop-singers whenever their songs are purchased or played in public is an
example of passive income.
Rentals from properties is another source of passive income provided we have
the means to own them in the first place.
Profit derived from automated trading is another example of passive income.
The good news is that the Internet and the social medias
like Facebook have helped level the
playing field for the men-in-the-street to compete with the big boys.
Opportunities are abound in this new economy that require little or no money to
start and build an online business like Affiliating Marketing.
Wikipedia defines Affiliate marketing as a marketing practice in which a
business rewards one or more affiliates for each visitor or customer brought
about by the affiliate's marketing efforts.
Examples include rewards sites,
where users are rewarded with cash or gifts, for the completion of an offer, and
the referral of others to the site.
The key to success is choosing the right Affiliate
Program.
The smart entrepreneur would want to choose a strong affiliate program that will
generate passive income and permits
the recruitment of other affiliates into the program. Doing so, will allow this
entrepreneur to extend his/her time limitation by building up a sustainable business that
leverages on the effort of others just like the traditional businessmen and CEOs
but with minimum or no capital outlay!
If you think of becoming a successful Stock Remisier as
a good way to earn big money, I have better news for you...
Here is a quick comparison of a Stock Remisier vs. an
Forex Affiliate/IB:
|
|
Stock Remisier |
Forex Affiliate/IB |
|
Qualification/Licensing to
practice? |
Yes |
No |
|
Sample Average Daily Market Turnover
|
S$2 Billions (Singapore SGX)
1 |
US$20 Billions (Japan Retail
Forex) 2 |
|
Market Place |
Local |
Global |
|
Trading hours |
8 hours per work day |
24 by 5 work days |
|
Work Place |
Broker’s Office |
Anywhere with an Internet
connection |
|
Responsible for
any losses which may be incurred by the Broker? 3 |
Yes |
No |
|
Required to post a deposit with
the Broker 3 |
Yes |
No |
|
Income Type |
Active - advise and execute orders from traders and
investors. |
Passive - traders trade online for themselves.
IB also earns overriding commissions. |
 
The
 Affiliate
Program gives me the opportunity to work smart and the incentives to do well for my passive income.
There is No fees to pay. No product to buy and
maintain.
Just some initial hard work to get started in the Affiliate Program and the effort becomes easier to keep
the momentum going...
Appended below is a snapshot of the kind of passive
income that I enjoy daily:
At $10 a PIP from those trading the standard lots, an
Affiliate or an IB can look forward to earn tens of RISK-FREE PIPs on a busy day
of trading!
With the prepaid Fxprimus Debit card
 ,
I can now enjoy fast, easy and worldwide withdrawals of my trading profit and IB
income.
I love what I am doing today because this is no
longer a job for me but a rewarding journey, helping others and making new
friends along the way towards our time and financial
freedom.
The Affiliate Program has enabled me
to work out of pleasure instead of working under pressure.
If you have no problem introducing a good movie or a
favorite restaurant to your friends, you too can do well by promoting
 to them and
to others.
The world is our market.
today.
In conclusion, the only way for most of us to become
wealthy in the shortest time is to work hard and to work smart for passive income by
leveraging on the time and talents of others.
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