How to face uncertainties in private sector?
Life is full of insecurities & uncertainties. It is greater in private sector than in govt. sector. So, if you are willing to work in private sector just take care of 2 things & your corporate life will be smooth & easy.
You can stay super-fearless in private jobs too. Fearful are people who don’t plan their lives.
Stay focused on you for first 3 years of your corporate life.
##2 things to do.
Suppose you earn 3 LPA presently. Then try to save at least 60% of what you earn (until you get married). And save 40% of what you earn when after you get married.
In next 3 years you’ll be able to save a t least 4-5 lakh. Keep it in your bank account. Do not touch this money in any condition.
The benefit of this bank balance is that you can sustain without a job for next 1-1.5 years.
What if you are fired in future? No trouble for you as you can get a new job in 1-1.5 years. Can’t you?
What if your present job sucks? You can find a new job confidently as you have a bank balance to sustain for next 1-1.5 years.
>Buy a property
Take some financial help from your family & buy a small land-holding in next 6-7 years. You’ll need 10-12 lakhs.
As you accomplish the above two requirements, you are in safe zone & can take adequate risks in life now.
What can worst happen to you? You can lose your job.
You can still maintain your lifestyle through the money you have saved in the bank until you find a new job or find some alternative.
What if worst-of-worst happens to you?
You can sale half of your land-holding. Keep another half for further worst-case possible.
Another advantage of the above philosophy is that it allows you to take maximum risks in life.
>What if everything goes well?
We have discussed the worst-case scenarios possible. What if everything goes well? Phir Toh Chandi Hi Chandi.
-You can look for business opportunities
-You can go for buying another land-holding (i.e. you’ll have two land-holdings. Sale one of them & build something that can fetch you some monthly income through rent or lease)
-You can spend money on acquiring knowledge by attending seminars
-You can go for higher studies if you are not a keen self-learner
-You can look for other bunch of options as an investor.
With Great Love,
Er. Amit Yadav
Life is easy..!