KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
Earning more, especially from linear income usually not sufficient for one to be financially independent. A very simple reason being, your linear income is finite and there is a limit on how much you can get from salary. Next, age will be the limitation for one, and before we know it, it is time for us to retire from the workforce - and this is also assuming one does not get retrench before reaching the retirement age.
One of Warren Buffett's famous quote on earnings is "Never depend on single income. Make investment to create a second source". It's true that one should not depends on single income, by saying this does not mean that one should work very long hours or do the extra mile by working for different companies or having multiple part-time jobs. Like the famous investor say, make investment to create a second source.
There are many types of investment; properties, stocks, funds or commodities. Different investment comes with different risk and return. Many people view high risk equivalent to high return, but in reality, "investment" with high risk usually yields nothing. One should get the knowledge on the investment vehicle before venturing into the investment to avoid having to pay high price for wrong investment - and most importantly is to differentiate between scams and investments. No one would like to lose their retirement fund to the scams, right?
The conclusion is single income will never be sufficient, especially for one to achieve financial freedom status. In fact, no one should really depends on single income alone as by having enough passive income, one can have confident that he or she will not have shortage of retirement fund after retirement. And thus, this make never depend on single income the third universal rule of personal financial management, after spend less than you earn and earn more.
One of Warren Buffett's famous quote on earnings is "Never depend on single income. Make investment to create a second source". It's true that one should not depends on single income, by saying this does not mean that one should work very long hours or do the extra mile by working for different companies or having multiple part-time jobs. Like the famous investor say, make investment to create a second source.
There are many types of investment; properties, stocks, funds or commodities. Different investment comes with different risk and return. Many people view high risk equivalent to high return, but in reality, "investment" with high risk usually yields nothing. One should get the knowledge on the investment vehicle before venturing into the investment to avoid having to pay high price for wrong investment - and most importantly is to differentiate between scams and investments. No one would like to lose their retirement fund to the scams, right?
The conclusion is single income will never be sufficient, especially for one to achieve financial freedom status. In fact, no one should really depends on single income alone as by having enough passive income, one can have confident that he or she will not have shortage of retirement fund after retirement. And thus, this make never depend on single income the third universal rule of personal financial management, after spend less than you earn and earn more.
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