Blueroselady's Weblog

I wish you abundant happiness, health & wealth

Posts Tagged ‘freedom

Character & Care; Freedom and Fortune

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③命,乃失敗者藉口;運,乃成功者的謙詞。 Fate vs fortune.
④打動人心的最佳方法,是談他最珍愛的東西。 Care and concern.

⑥鬱悶時 (when depressed),坐下來犒勞自已,原諒別人,也放過自己。

Thank you google translate!


Written by blueroselady

August 13, 2013 at 3:38 pm

How to achieve financial stability, security, freedom, abundance?

with one comment

Criteria of financial stability:
1. liquid assets to cover a min of 6 months of current expenses.
2. have insurance (life, hospitalization).

To calculate expenses, see a previous post on how to make personal income statement.

Let say in 2012 (based on an estimate for the 1st 8 months), my monthly expense is $2,700.
Therefore, I need to keep a liquid asset of ~ $16,000 in my bank account.
Stocks are also considered as liquid asset, but to be conservative and safe, I only consider cash in my calculation.

1. Get a term insurance with a much cheaper premium than a whole life insurance. Understand that term insurances are often up to only certain age, e.g. 65 and its purpose is to protect your family (not your retirement).
2. If you want to also get a whole life insurance, try to buy it at younger age and to finish paying the entire premium early. Unlike long-term housing mortgage, which can be protected with mortgage insurance, I hear many cases of people failing to pay for the expensive premium of the whole life insurance hence their policy lapses.

Financial SECURITY means your passive income can cover your BASIC expenses.
Financial FREEDOM means your passive income can cover your CURRENT expenses.
Financial ABUNDANCE means your passive income can cover your DESIRED expenses.

Criteria for basic expenses:
1. housing mortgage, utilities.
2. public transport.
3. food (inclusive for my children) / groceries.
4. all interest payments for debts.
5. all insurance premiums (life, hospitalization, fire).

Let say in 2012, my basic expense is $1,500.
To achieve FINANCIAL SECURITY, I must have passive income of $1,500 per month.

I realize that these components (a) gifts / donations, (b) insurance premiums, (c) dining out, contribute to my non-basic expense in descending order, but I want to keep on giving and enjoying the fruit of my labor, so let us set our target higher.
To achieve FINANCIAL FREEDOM, I must have passive income of $2,700 per month.

To calculate my desired lifestyle, for now I only add 2 items (but the list may grow over time).
I want to be able to give meaningfully and travel the world.
To achieve FINANCIAL ABUNDANCE, I must have passive income of at least $5,000 per month.

I am working smart and hard to have more passive income. Keep on the spirit!

Written by blueroselady

September 18, 2012 at 9:10 am

Admirable work ethic

with 3 comments

In mid March 2012, I read a news entitled “Swiss voters reject 6 weeks paid vacation”.

It is not suprising to me.
More vacation will increase labour costs and risk the economy.

The Swiss has a special place in my life journey.
Being benefactors of parts of my learning experience, I can only be grateful to them.
Though 1 of my former bosses dislikes the Swiss for being self-sufficient, I still have POSITIVE impressions on the Swiss.
I admire your work ethic!

The lesson for me from this event is:
individual freedom comes with responsibility.
To have only freedom is disastrous to oneself.

Swiss Justice Minister Simonetta Sommaruga said taking 2 more weeks of vacation is not the best way to fight stress.
So what is the best way to fight stress?
I love to hear from you my Dear readers.

Written by blueroselady

March 15, 2012 at 2:39 pm