Alternative Source of Income

Deputy Minister in the PM’s Department urged those who are retrenched to seek alternative source of income including exploring multi-level marketing products. He said it was during an economic slowdown that people should try their hands on new ventures to survive.

He added that from January until now, about 28,000 have lost jobs, with an average of 2,000 to 3,000 workers laid off a month.

Personally, I had attended many multi level marketing presentation, conducted by friends and relatives. Of course, I did sign up as member with a few companies either to consume the products or just to lend my 'support'! However I have yet to find the 'motivation' and interest to eke a living out of it. Sure, they are many rags to riches and success stories but this trade is not my cup of tea!

I have nothing against this trade. In fact I do believe it is a great way to make a living, as it provides passive income! However, I prefer to indulge in the investment route to churn my passive income!

See you at the top!

Unit Trust Industry

Introduction to Unit Trust Industry

The local unit trust industry is vastly untapped. It is a multi billion Ringgit industry. In a period of just 15 years since 1992, the amount managed by private unit trust companies grew from a mere RM400 million to RM71 billion! (source: Lipper, 28 January 2008)

According to Securities Commission, in December 2007, the Malaysian unit trusts boasted 15.32% equity penetration rate. In comparison to the same period, the equity penetration rate for United Kingdom was 41.62%. (source: London Stock Exchange and Investment management Association, UK)

In December 1992, the Malaysian unit trusts equity penetration rate was merely 6.40%. This means that Malaysia's rate is low in comparison with more developed countries like the UK and Malaysia's ratio is rising rapidly.

Why would I want to be a Unit Trust Consultant?

Because YOU deserve to have a well-paid and fulfilling career in an industry that is enjoying explosive growth in Malaysia.
It is definitely a sunrise industry. It has evolved into a lucrative profession. Unlike traditional career with has limitations in terms of personal growth, income potential and time, it is the exact opposite.

Too many of us are frustrated at the prospect of squandering our best years on a 9 to 5 mundane job that is structurally incapable of giving us what we dream of most – personal and financial freedom. So why not take back the reins of your life. Why not, indeed!

Most of us are educated to pursue a traditional career in the corporate world. However in the current globalization and high technology driven climate, unit trust industry is fast becoming popular with the younger generations.

Resources that join the industry come from a broad range of backgrounds. There are those who graduated with first class degrees. There are also people who switch to this industry with totally unrelated work experiences. This industry is quite a versatile industry in terms of recruiting human capital. It is no longer the industry for people who can’t make a living elsewhere.

Young graduates and newcomers to the industry need not fear the lack of knowledge or understanding as ample training and opportunity is available. Training programs are held to educate product knowledge and to build or refine soft skills. Be assured that there will be guidance and support from mentors. Mentors will build their people to higher level. Mentors are ever ready to reach out, to nurture and guide you.

Today, an estimated 60% of associates are earning a five figure income monthly with job loads equal to those working in the financial investment houses. The different is the networks you build are your own and do not belong to the company.

How do I join?

You may join as a part timer and keep you regular job, before gradually turn into full time Unit Trust Consultant (UTC).

You must be above 21 years old and hold a SPM certificate in order for you to be registered to sit for the Computerised Unit Trust Examination (CUTE) conducted weekly by Federation of Malaysian Unit Trust Managers (FMUTM) in designated colleges all over Malaysia.

Upon passing the 2 hours computerized all multiple choice paper, you qualify as the licensed Unit Trust Consultant.

You will enjoy direct commissions from your personal and overriding sales, indirect commissions like year end bonus and profit sharing and other benefits like overseas incentive trips, insurance coverage and subsidies on car and notebook computer.

In a nutshell, in this industry, you are earning both active and passive incomes.

So, what's in it for me?

Unit Trust Consultants enjoy great benefits. Amongst them are:

1) Highly competitive incentive structure and benefits programs
2) The potential to earn unlimited income
3) Flexible working hours
4) Overseas trips, awards and public recognition
5) Subsidised Certified Financial Planner (CFP®) certification course and
diverse training programs
6) Personal development
7) Opportunity to be an entrepreneur and own a business
8) Early retirement / financial independent
9) Help others in retirement planning
10) Noble act to promote investment planning and encourage savings

How does it differ from the traditional career?

You will not be stuck in a rat race. No office politics and back stabbing. Promotion to a higher level which earns you higher remuneration is purely based on sales figures. Promotion is not based on personal judgment, thus eliminate discrimination.

Remuneration has the high unlimited potential based on sales volumes. Remuneration is not fixed to a salary scale with fixed annual increment.

Do you wake up happy knowing you have to go to work? If the answer is NO, perhaps it is still NOT too late to embark on this new found sunrise industry.

So it is time to move on! Be your own boss.

Building Pipelines

Once upon a time there lived two ambitious men called Anwar and Abdullah in a Penang village. They wanted to be the richest men in the nation.

One day they got their big break after months of lobbying. The village chief gave them a contract to carry water in buckets from a nearby river to storage tank for the usage of the villagers. Both were overjoyed and started to work immediately. At the end of the day they were dead tired. That prompted Anwar to do some serious thinking to provide a better solution to transport the water. The next day he was excited to tell his friend about his new idea. Instead on lunging back and forth, they can build a pipeline from the river to the village. Abdullah was skeptical as it sounded new and there were no short term benefits. He rejected that idea outright and was happy with whatever he was earning.

Anwar did not give up and worked on building the pipeline during the evenings and weekends. He kept on reminding himself that “Tomorrow’s dreams are built on today’s sacrifices” and “Short-term pain equals long-term gains”.
Hours turned into days, days turned into months and months turned into years. Finally the project was completed. The pipeline transported water non stop to the village. The pipeline isn’t the end of a dream. It is only the beginning! He started to use the same system and build pipelines all over the world.

After his retirement he still has millions coming in from his pipelines. He continued to share the pipeline idea to many people. A few would jump at the opportunity but most would dismiss it with excuses like “I don’t have the time”, “My friend tried this and failed”, “I’ve done this all my life and would like to stick on with it”, “I know some people who lost money in this, I don’t want to take the risk”.

So are you “A BUCKET CARRIER” or “A PIPELINE BUILDER”?

Retrenched, Laid-off, Downsized, Outsourced

It is the survival of the fittest, more so in today's stagflation environment. Businessmen have to be innovative and embrace the Blue Ocean. Only the creative and innovative plus resourcefulness stand a good chance to survive!

It was reported yesterday that a factory closed overnight in Penang, leaving close to 1,000 workforce in a lurch. 1,000 breadwinners who need to feed the family members. It is a real issue. The bread and butter issue. Is this part of the occupational hazard? Loyalty and dedication do not count. It is a dog eats dog world. It is a business entity not charitable body. Period.

Nothing new as many friends had similar experiences. However, most were lucky as they were compensated and re-joined the employment market pretty soon. Some took the opportunity to be enterpreneur. During the uncertainty, obviously there would be anxious moments. Not sure if there is any compensation. If yes, is the quantum enough to cover the expenses until the next paycheque etc. This is the downside of active income! No work, no pay!

That make the concept of passive income attractive. No work, got pay! Isn't it marvellous? All of us can build this stream of income. For a start, check your bank balances. How is the excess fund performing? Probably earning peanuts and the real winners are the bankers. How about getting the excess fund to work harder! Start reading and exploring. Maybe dabble into the stock market. Lots of attractive pick-me-up in current situation. Many stocks that are below their intrinsic value. Or paying downpayment to own a property. Rent it out and get the tenant to service the bank loan! Diversify! The return benchmark should be higher than the inflation rate! It might not make you a millionaire but at the very minimal it should lead you to some form of financial security / freedom.

Too heavy for you to comprehend? Never Mind. Smell Like Teen Spirit. Live & Let Live. Just take the grunge, ooph, plunge. It is never too early or too late!

Political drama can take a backseat, for a moment. (Latest statutory declaration - getting more explosive - pun intended).

Back to the Penang case, look like there is a happy ending after all. Other factories are keen to hire these breadwinners! Bravo.
http://thestar.com.my/news/story.asp?file=/2008/7/3/nation/21725654&sec=nation

pic top - covered active income earners!
pic bottom - thumb up passive income earner!

Me Myself & I

Me blog survived month 1.

There was an interesting article on The Star, Monday highlighting the needs to juggle 2 jobs to make ends meet in Klang Valley. I am all for it if, only if, one could handle it 'well' and there is no conflict in term of competing products. Hats off to these minorities for being enterprising. Kudos to them for making full use of time and working hard in their prime years. Boo to the majorities who love to stay glued to the idiot box and bed or sip latte in the cafe.

It is even better if one does something that one is passionate about. In my teen years, I always dream about being a part time tour guide, bringing tourists to visit places especially eco-tourism, doing things like camping, hiking and caving. Other real life examples of the services being offered by friends are as photographer, sports coach, tutor, insurance agent, unit trust consultant, will writer, hawker and last but not least MLM 'irritator'. There is no shame as long as it is a legal trade and does not cause harm. Of course there will be sacrifices. All in all it is hard earned money!

A quote from the article “The extra money is definitely making my lifestyle more sustainable because having extra stable income every month makes it easier for us to plan our financial paths. Having extra cash always helps because you never know what will happen next,”

Me, myself and I is joining the bandwagon to build pipeline, to earn passive income, to share knowledge, to plan for retirement and to save for children education. Wanna join the ride?

Photo courtesy of HoeYin the semi pro photographer. Me hand in the photo. Anyone interested in his services or me as limbs model, can enquire inside.

p.s. next article will reveal me leg!

Moonlighting

Not the 80s Willis and Shepherd TV series that propelled them to stardom. The issue here is the green light for the civil service folks to moonlight. It is an open secret. Talk to cab drivers, pasar malam traders - chances are they are government servants by day.

I salute these people as they work hard to bring food to the table. These are the people who understand the meaning of hard earned money. I personally believe these people could be a better government servants as these 2nd jobs give them a different perspective of lives and build characters. At least they do not waste time, loitering around or worst case, be a Mat Rempit.

Of course there are also those that punch in and then MIA. I believe those are the minority. However, is there a need for authorities to officially approve it? What's the benefits?

The most pathetic person in the world is someone who has sight but has no vision - Helen Keller

Ah Longs Want You

Another 1 Bites The Dust. The fortnightly salary payment to civil servants gonna backfire BIG time! That's aint no solution as the pie is not getting bigger. Those that are already struggling with their cashflow will be worse off. I reckon many will finish spending their take home by half time. Then suffer in the 2nd half as they will realise they only have half pie left and do not have enough to feed the fairweather banker friends, the landlords, the cronies etc. What happen next? Desperate times means desperate solutions. Who are they gonna call? Ah Long!

The men in uniform will not like it as definitely there will be an increase in harassment and assault cases. If the threats prolong and they could not take it any longer..

Desperate times means desperate solutions. Who are they gonna call? Michael Chong!