Thursday, 5 November 2015

So what if you have more free time?

I used to work in Jurong Island --- the land of ulu... I ended work at 5.40 pm then, and took the company transport to one of the MRT stations in the west, and reach home at about 7.30 pm (since I live at the other end of Singapore). Back then, I was envious of people who can reach home by 6+ every day. I always thought, I could do so much if I were to reach home by 6+ each day.

Fast forward today, my work place is a mere 20 min from my home. With work ending at 6 pm, I can reach home by 6.30 pm. This is about 1 hour of free time more per day, assuming 52 work weeks, and 5 work days per week, that's 156 hours for three years!

So what have I achieved with this about 156 hours?

https://pixabay.com/en/clock-wave-period-time-fear-439147/

Sleep more, watch more TV, eat more, idle more, more random web surfing etc. Actually, nothing much have changed.

Why?

https://pixabay.com/en/panda-confused-questions-shrug-303949/

Goals To Achieve

The main reason for wasting away the 156 + hours is because I don't have a goal that I really want to achieve, and the reason why there is nothing I really want to achieve, is because I didn't take time to ask myself what I want.

I keep saying I want to retire young. But, I don't make having GOOD INVESTING HABITS a real goal. I want to have a substantial side income from my new business department, but I don't sit down to think how or what to do to achieve it.

Thus today, I sat down to write down things I want to do, (not the end results).

So to make things simple, I made the goals to achieve into TASKS.

TASKS

Tasks are easier to be completed than goals. Think about setting up an online shop vs earning $4800 side income per month. Which is more achievable? And, you need do have action (i.e. tasks) to achieve something, ya?

So the following are the tasks I came up with for the above goals.

Tasks to learn about investing

Task 1: Read the following book. 

This book is also available for free from the library (as a book or as an ebook in Overdrive).

Task 2: Choose a sector of reits to research on (e.g. industrial, retail, office, etc) to research on. End result is to produce articles on the different reits, what to take note of, their fundamentals, a good entry price/ situation, as well as a good exit price/ situation.

To be more transparent in what I have done, I will flood my blog with my research.

Tasks to develop side income

Task 1: Come up with THREE different businesses.

You may be wondering why three? Simply because I have never started a business before, and having three will give me an idea of what works and what not.

Task 2: Set up a platform for all these three different businesses (can be websites, online stores, etc.) Each platform must have a means to earn money.
Though monetizing will not be the key driving factor, for now. 

By when?

For all tasks/ goals set, we should always be looking at a time period to work on it. (if not it is like giving homework, without a due date, and the results is never get done!).

Well! I am giving myself to the next Chinese New Year - 8 February 2016. I will review my performance after the Chinese New Year holiday then. 


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