Author Topic: Sino sa inyo ang Out of the Rat Race na? How did you do it? Wanna Share! (Read 14524 times)

cjap10 · « **Reply #30 on:** Jan 31, 2008, 03:53 PM »

^but can you work even at old age? One good thing about passive income is that even if you're not working, money just flows in to your account.

ekimonk · « **Reply #31 on:** Jan 31, 2008, 03:57 PM »

well how do you define a doctor who puts up his own clinic? where does he fall? is he still in the rat race? is he financially independent?

the doctor is in the rat race but he is financially independent..

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now, how do you define a relative who just stays at home, watch tv, hangs-out with friends, but gets allowance money from other relatives, or gets allowance from a relative who has a fixed pension..

he is out of the rat race, but is financially dependent..

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i might write a new book about all these..

gr8collector · « **Reply #32 on:** Jan 31, 2008, 03:59 PM »

cmon ekimonk. according to the definition of condo, there is such a thing as out of the rat race.

just for simplicities sake, if you own 2 buildings and you rent it out for 200k a month and your expenses are 100k a month, then you are considered out of the rat race. Having these 2 buildings means you dont have to work to live at your current lifestyle. Some investments that can be considered as contributing to passive income are interest earned from bank deposits, dividends from stock holdings, and rental income from properties. Note that holding these investments dont require you to work full time.

You'll need this equation , passive income > expenses , to be out of the rat race. This is the definition of the thread starter.

greenh99 · « **Reply #33 on:** Jan 31, 2008, 04:02 PM »

Quote from: ekimonk on Jan 31, 2008, 03:50 PM

^ but there is no such thing.. as i said before, even as an entrepreneur you still work, even as an investor/stock trader you still work.. you even work harder than as an employee..

This is YOUR belief. I don't agree with it. But ok, I'll respect it.

Lets get back to the topic. Nakaka 3 pages na tayo pero wala pa talaga nag shahare kung paano sila nakalabas na ng rat race (as defined by CondoInvestor).

Share anyone?!

Quote from: ekimonk on Jan 31, 2008, 03:57 PM

well how do you define a doctor who puts up his own clinic? where does he fall? is he still in the rat race? is he financially independent?

Read his book. Cashflow Quadrant. Its there

gr8collector · « **Reply #34 on:** Jan 31, 2008, 04:05 PM »

Quote from: ekimonk on Jan 31, 2008, 03:57 PM

well how do you define a doctor who puts up his own clinic? where does he fall? is he still in the rat race? is he financially independent?

the doctor is in the rat race but he is financially independent..

---

now, how do you define a relative who just stays at home, watch tv, hangs-out with friends, but gets allowance money from other relatives, or gets allowance from a relative who has a fixed pension..

he is out of the rat race, but is financially dependent..

---

i might write a new book about all these..

If the doctor does not have passive income greater than his expenses, then he is still in the rat race. He can earn 1M from his practice and have 200k expenses but if he has 0 from passive income then he is still in the rat race. The key here is that your income has to come from Passive sources.

As for the second example, I dont consider that as being out of the rat race also. His income does not come from any investment of any kind. At anytime, his income (allowance) can be taken away so he is still dependent on his parents financially.

rael · « **Reply #35 on:** Jan 31, 2008, 07:48 PM »

Quote from: greenh99 on Jan 31, 2008, 04:02 PM

Lets get back to the topic. Nakaka 3 pages na tayo pero wala pa talaga nag shahare kung paano sila nakalabas na ng rat race (as defined by CondoInvestor).

akala ko ako lang nakakahalata

actually the whole confusion is just about the definitions. i think for those who've read RDPD, "out of the rat race" is a crystal clear concept.

so, move on guys. nagiging unproductive thread e... instead na rat race, parang nagiging "rat hole" (term we used in the office to mean, a pointless discussion that solves nothing)

anghelyn · « **Reply #36 on:** Jan 31, 2008, 11:32 PM »

for my current status.. i could say that im in the rat race. im still working up my business eventhough that im a college student. at my early age..i want na build up my own business,,get real properties and lastly invest in paper assets. im planning to get out of the rat race at the age of 30..i have 11 yrs to push my luck.

** before we shoot a bird you will first target it right? **fire**we're not sure if we will hit it.
WHY DON'T WE LOOK IN THE DIFFERENT SIDE: let us first shoot the bird before we target.
(sounds crazy right?!) but that's the way how others do it.

ekimonk · « **Reply #37 on:** Feb 01, 2008, 09:19 AM »

aenixx · « **Reply #38 on:** Feb 01, 2008, 10:03 AM »

nice insight ekimonk. lol.

CondoInvestor · « **Reply #39 on:** Feb 01, 2008, 10:23 AM »

PASSIVE INCOME na pinag-uusapan dito galing sa BUSINESS MO whether you work or not, a relative is not your business, tsk! tsk!; Portfolio, Rental Property, or Royalty/Intellectual Property.

Back to the topic na,

Sino sa inyo ang Out of the Rat Race na? How did you do it? Lets Share!

lailani · « **Reply #40 on:** Feb 01, 2008, 10:28 AM »

^maybe it's his way of sharing

so let's count it in

1) sucking other people's sweat and blood (not necessarily good, but proven to be quite effective in some cases as sighted by ekimonk)
so, next?
2)

ekimonk · « **Reply #41 on:** Feb 01, 2008, 11:12 AM »

well as for business or investment, pinoy's consider their children as their investment.. mas maraming anak, mas maraming mag aahon sa kahirapan, this is why pinoy's consider education as a necessity..

also how do you define 'business'? how do you define 'asset'? professionals' asset are their knowledge.. their work is their business..

alam nyo kase vague at maraming definition ang business..

Posted on: Feb 01, 2008, 11:00 AM

isa pa case to case basis yang tanong na yan e.. what if you live in your parent's house.. pero you are an SSS member, and you decided to retire.. so essentially you get 3000 pesos a month..pero ang gastos mo lang is 2500 a month (masaya at kuntento na ka) e di out of the rat race ka na di ba? financially independent ka pa..

isa pa any business alam naman natin is not a guarantee.. pwedeng bumagsak ang economy, humina ang peso, humina ang dollar, mag welga ang mga empleyado, masunugan etc..

there is not such thing as guarantee.. passive income when you examine it meticulously is not be passive at all..

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some people equate being 'out of the rat race' to a life of grandiose, luxury.. that is not is really is..

yung mga tambay sa kanto nyo na walang ginawa kundi mag inuman e out the rat race yung mga yun.. baka may asawa, anak , magulang yun na nag po provide sa kanila..

Posted on: Feb 01, 2008, 11:08 AM

i tried googling the term rat race and this is what came up first in the list

rat race-mad scramble or intense competitive struggle, such as in the business world

so what can you say about it?

CondoInvestor · « **Reply #42 on:** Feb 01, 2008, 11:43 AM »

greenh99 · « **Reply #43 on:** Feb 01, 2008, 12:04 PM »

CondoInvestor - IDOL!

Thanks for sharing that! You may not yet be out of the rat race, but you're definitely on your way!

ekimonk · « **Reply #44 on:** Feb 01, 2008, 01:55 PM »

so condoinvestor what do you do now? di ka pa ba bored sa buhay mo nyan bumming around?

ako naman as an employee i have 2 million net worth pa lang.. pero i travel for free.. i get to be like the rest.. where im happy.. i have job offers from 4 companies of different countries .. (2 i have work visa under processing) even if i lose job in one, another work visa is available for me..

hongkong, bangkok lang pala inabot mo..