avatarMr. Plan ₿

Summarize

How to Quit the Rat Race

Source photo Fotografii de stoc cu Un Bărbat Întrun Costum Aleargă Întro Roată De Hamster Conceptul De Eliberare Din Sclavie Viață Afaceri Manipulare Control — Descarcă imaginea acum — iStock (istockphoto.com)

Unfortunately people who are not financially educated or who fail to educate themselves throughout their lives will be the ones who will be caught in the rat race all their lives.

Why is it called the rat race?

It’s called the rat race because it’s like a rat that spins on a wheel and these people work hard but fail to progress. Most go to a 9–5 job, earn some money which they then spend all of it.

How do you get out of the rat race?

First you start and save money. Preferably you should put 10–15% of your income into savings each month. You put this money aside until you have about 3–6 months of salary. At that point you have the security that no matter what happens at work, you don’t go into debt, starve or end up sleeping rough.

Secondly you start to create more sources of income. Whether you get a second job, start writing articles on Medium or create a YouTube channel, the important thing is not to stay with one source of income. The riskiest is when you rely solely on your salary at work.

Lastly you start and invest the money.After you have put aside 3–6 months of salary you need to start investing. The best decision is in Stocks via an ETF. This way you won’t waste a lot of time looking for companies, someone will do it for you and you will have more time to make money. These ETFs can even offer dividends and so you gain another source of income. Try to make an investment plan for at least 15 years. This will definitely save you from the rat race.

Good luck🍀🍀🍀

If you enjoyed this article, consider trying out the AI service I recommend. It provides the same performance and functions to ChatGPT Plus(GPT-4) but more cost-effective, at just $6/month (Special offer for $1/month). Click here to try ZAI.chat.

Life
Writing
Education
Self Improvement
Productivity
Recommended from ReadMedium