Sunday, January 29, 2012

How To Increase Your Income - 2

Your financial goals depend on your future needs.  It also depends directly on your 
career / business.  If you are employed, there is a limit to your present salary. Unlike a businessman, you cannot increase your turnover and expect an increase in  your salary.  But there are other ways to do it:

You can learn more and more about your work and make yourself indispensable  to your boss.  This requires a high level of self-discipline on your part. (Let's face it : If your self-discipline were already high, you certainly would have got a raise/promotion by now).  
More about self-discipline in a subsequent post.

Another way is to save a part of your earnings every month for, say, 3 years.  At the end of 3 years, invest this amount in a Fixed deposit.  Ask your Banker to pay monthly/quarterly interest on this Fixed deposit.  You'll then have additional, passive income every month.  Your ultimate goal should be to increase your passive income to such an extent that you can enjoy early retirement!
Life Insurance:   Please look for this in my next post.  

29 01 2012

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