Road To Passive Income

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Money Quote 5

“The key to staying young is to decide what you want to be when you grow up, and then keep growing up. Nothing is more tragic than to see people who have sold themselves short on what is possible for their lives. One of the most important discoveries people can make by taking the time to learn how to plan is to find out what is financially possible for their lives…and that is priceless” - Robert T. Kiyosaki, Rich Dad’s Guide To Investing.

“Do something you love to do because it will take passion to make your business (online) a success and it is true that it doesn’t really feel like work (well 90% of the time it doesn’t!). You will also need to accept that it will take a long time to make money especially if you have a new product that people are not aware of. The money will come, but you will need patience and determination” - Dan, SuperiorTitanium.com.

“The true purpose of any corporation is to create products and services that increase the quality of life for all the customers they serve. If this is achieved on a consistent basis, then profit is absolutely assured” - Anthony Robbins, Awaken The Giant Within.

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Will Retiring Early Help You Live Longer?

There are lots of reasons to retire early, but will it help you live longer as well? One study seems to suggest so, and is often cited in websites discussing early retirement. Dr. Sing Lin wrote a paper in 2002 called Optimum Strategies for Creativity and Longevity which studied the relationship between the age of retirement and the average of death for retirees of Boeing Aerospace. The results are startling:

As the retirement age increases, the average age of death decreases almost linearly. The average person who worked until age 65 lived for only 18 months after retirement! In contrast, the person retiring at 50 lived for another 36 years. There is some dispute as to the validity of this data, but I haven’t found anything solid either way. The author does make some very bold conclusions, though:

…when you get older, you should plan your career path and financial matter so that you can retire comfortably at the age of 55 or earlier to enjoy your long, happy and leisure retirement life into your golden age of 80s and beyond. In retirement, you can still enjoy some fun work of great interest to you and of great values to the society and the community, but at a part-time leisure pace on your own term. …On the other hand, if you are not able to get out of the pressure-cooker or the high-speed battleground at the age of 55 and ?have? to keep on working very hard until the age of 65 or older before your retirement, then you probably will die within 18 months of retirement.

However, a later study published in the British Medical Journal in 2005 refutes these findings. By studying the retirees of Shell Oil company, they found that those who stop working at 55 have nearly double the death rate of those who continue to work on until they reach 65.

Retiring early at 55 or 60 was not associated with better survival than retiring at 65 in a cohort of past employees of the petrochemical industry. Mortality was higher in employees who retired at 55 than in those who continued working.

Conclusions? So on one hand we have “retire at 65 = dead within 2 years” and on the other we have “retire at 65 = twice the survival rate”. To me, these conflicting studies simply show that trying to compare retirement age and mortality is, well… pointless? Does one necessarily have anything to do with the other? How many people retired early because of health reasons? Or because they were offered a special severance package? How many endured harsh working conditions, like being placed on an offshore oil rig vs. an air-conditioned office? Maybe what is most important is our own individual personalities. For some people their work provides them with purpose, social interaction, and maybe even regular physical exercise. Not working might actually be bad for their health. Personally, I can see myself working to maintain my own investments and businesses past 55, but I really can’t see myself “enjoying” taking orders from someone else for that long.

Article Source : MyMoneyBlog

If by Rudyard Kipling

If you can keep your head when all about you

Are losing theirs and blaming it on you;

If you can trust yourself when all men doubt you,

But make allowance for their doubting too;

If you can wait and not be tired by waiting,

Or being lied about, don’t deal in lies,

Or being hated, don’t give way to hating,

And yet don’t look too good, nor talk too wise:

If you can dream — and not make dreams your master;

If you can think — and not make thoughts your aim;

If you can meet with Triumph and Disaster

And treat those two imposters just the same;

If you can bear to hear the truth you’ve spoken

Twisted by knaves to make a trap for fools,

Or watch the things you gave your life to, broken,

And stoop and build ‘em up with worn-out tools;

If you can make one heap of all your winnings

And risk it on one turn of pitch-and-toss,

And lose, and start again at your beginnings

And never breathe a word about your loss;

If you can force your heart and nerve and sinew

To serve your turn long after they are gone,

And so hold on when there is nothing in you

Except the Will which says to them: “Hold on!”

If you can talk with crowds and keep your virtue,

Or walk with kings — nor lose the common touch,

If neither foes nor loving friends can hurt you,

If all men count with you, but none too much;

If you can fill the unforgiving minute

With sixty seconds’ worth of distance run –

Yours is the Earth and everything that’s in it,

And — which is more — you’ll be a Man, my son!

Money Quote 4

“The time to buy is when the blood is running in the streets” - Baron Nathan Rothschild.

“Whether you think you can or you think you can’t, you are right” - Henry Ford.

“The difference between ordinary and extraordinary is that little ‘extra’” - Jimmy Johnson.

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Bonds Basics

A bond is a debt paper that pays a fixed return at specified intervals for the entire period of the debt paper. In conventional bonds, the returns are paid through coupon rates while in Islamic debt papers, the returns are paid through a profit rate. For zero coupon bonds, the fixed returns are paid in a lump sum at the end of bond’s tenure.

You become a lender when you buy a bond and the bond issuer is the borrower. The bond issuer might be a corporate company, a credit institution, a city, a state, or a federal government agency. They may borrow for short periods for instance to manage cash flow or cover operating costs. They may also borrow money for longer-term goals such as to build new facilities or pay for new technologies. The most common process of issuing bonds is through underwriting. In underwriting, one or more securities firms or banks, forming a syndicate, buy an entire issue of bonds from an issuer and re-sell them to investors. Government bonds are typically auctioned.

Benefits

The advantages of investing in bonds rather than in fixed deposit is that bonds are tradeable. Hence, it also provides an opportunity for capital gains apart from the fixed income.

What determines bond prices

According to Robert Zipf author of “How The Bond Market Works”, bond prices are dependent on several factors such as the ability of the issuer to make interest and principal payments and how the bond are collaterised.

To understand why bond prices fall when interest rates go up, let’s assume an 8% bond was issued five years ago when interest rates were also at 8%, if the interest rates goes up to 9%, investors would not buy the 8% bond when they can now invest in the newly issued 9% bonds. And as a result, the holder of the 8% bond would have to sell at a discount so that the yield to maturity is the same as the coupon rate on new issue.

Money Quote 3

“Intelligence plus character - is the goal of true education” - Martin Luther King Jr.

“When you’re in business, YOUR IMAGE IS YOUR REPUTATION and your reputation is the reason people buy from you or the guy down the block. It’s essential that you create an image of INTEGRITY, CREDIBILITY, and HONESTY in the mind of your prospects” - Steven Fu, Pluginpassiveincome.com.

One of the characteristics I believe is at the heart of my success and the success of most entrepreneurs, is an ability to keep working in the face of failure and an ability to force yourself to be productive when you don’t feel like it” - Yaro Starak, Entrepreneurs-Journey.com