NONE of us knows how long (or short) our lives will be. I believe God determines that — but He isn't in the habit of telling us when, as Shakespeare phrased it in his play Hamlet, we're going to "shuffle off this mortal coil", or pass away.
However, the Law of Large Numbers, the predictive mathematical edifice upon which statistical probability is founded, tells us two things. Humanity is:
1. Living longer; and
2. Having fewer babies.
The net effect of both megatrends is that even as Earth's human load stands at 8.1 billion (at the start of the second quarter of this year), and as it keeps rising, for now, our species' population curve is expected to peak sometime between 2068 and 2100, depending on which demographic study you rely on. After that, it will bend downward as our total numbers fall. An inevitable consequence of this is the rising median age of our global population.
Since we are also living longer, most of us must work longer to earn active income (AI) for ourselves and our families.
Even with the proliferation of human-job usurping robots and computers that are juiced up on a different type of AI (artificial intelligence), organic life goes on. So, too, does the work we sentient carbon-based life forms do to earn a living and craft our lives. You see, we were created not merely to survive but to thrive.
Toward that end, W-O-R-K is a four-letter word — but not a bad one.
EXPANDING HORIZONS
I know many people detest their jobs; and perhaps 10 times as many only tolerate their vocations. Well, all that dissatisfaction is a gargantuan waste of human potential and thus of life itself.
It would be better for us to try out various jobs after we complete school, college or university. Working in and across different fields expands our horizons and broadens our network of friends and contacts capable of propelling us upward.
In the 36 short years since I left university, I've worked as a trainee chartered accountant, technical writer, cadet broadcast journalist, business journalist, emcee, newscaster, investment analyst, freelance writer, investment magazine editor, freelance writer (again), unit trust consultant, professional speaker, licensed financial planner and retirement funding specialist.
Also, God willing, since I hope to savour working for at least another 15 years, I'm not done exploring new frontiers as I focus on upskilling myself to widen my knowledge base to better serve my clients and, ideally, make more money.
There are many ways to make Earth better. The best way for most of us to do so is to serve lots of people throughout our long, hopefully variegated, careers, which should not be cast in stone from the get-go. Earth's vast global economy contains sufficient vocational permutations for a million lifetimes.
So, if you aren't happy at your job or in your business, then make intelligent changes to run to greener pastures or sail to bluer oceans. As you do so, do note that while talent and aptitude are important, there is another ingredient of success which matters much more…
WORK HARD, WORK SMART
Horror author Stephen King isn't someone whose work I gravitate to because, frankly, I hate the genre. The only book of King's I've ever read was his non-fiction masterpiece On Writing: A Memoir of the Craft.
King doesn't need me to join his battalions of serial readers. He has sold more than 350 million books, and has an estimated net worth of US$500 million. To call him a mega-success is an extreme understatement.
So, consider his words: "Talent is cheaper than table salt. What separates the talented individual from the successful one is hard work."
So, to succeed — be it financially or in our chosen career(s) — we must do the work. Just remember to have loads and loads of fun along the way!
The Father of Management, Peter Drucker, wrote this half a century ago in 1974: "Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth and his humanity."
So, yes, work hard, but also work smart. And through your diligence, earn your well-deserved active income.
Then, and this is crucial for lifelong success, don't spend it all. Instead, within reason, focus on over-earning and under-spending your active income; and with your regular cash flow surpluses, first save your money. Then gradually learn to invest intelligently: Start prudently and never abandon your cultivated core of prudence.
Through both these crucial economic activities — saving and investing — aim to generate long-term capital gains and near-term (current) passive income. Do so for a long, long time with the explicit goal of attaining financial freedom, which boils down to regularly earning more passive income than you need for expenses each month.
Succeeding won't be easy. And not surprisingly, it requires more W-O-R-K. The task, though, is made easier if you cluster a trustworthy team of subject matter experts around you.
Yet that too involves — you guessed it — more work. As the ancient Greek playwright Sophocles wrote some 24 centuries ago: "Without labour, nothing prospers."
© 2024 Rajen Devadason
Rajen Devadason, CFP, is a securities commission-licensed Financial Planner, professional speaker and author. Read his free articles at www.FreeCoolArticles.com; he may be connected with on LinkedIn at www.linkedin.com/in/rajendevadason, or via [email protected]. You may also follow him on Twitter @Rajen Devadason and on YouTube (Rajen Devadason).
