Are you financially independent? Here is a template to help you document your financial independence plan. Get a pen and paper and start writing. Practical exercise 1: Clarity about what you want to achieve in life (a) Write down your vision (where do you want to be in 5 years from now). What exactly do you want to achieve in the future? Please take the time and write your vision below. ___________________ ____________________ Example 1: “To be financially independent and knowledgeable with good health and social respect.” (b) Write down your mission (how will you get there?) Your mission…
First F, Financial Independence – understanding the point of retirement
If you don’t plan for your net income properly, you will continuously be in debt. This will make you live in worry. You don’t need that. Do you? Graph 1 and 2 below illustrate the point of retirement and poverty point. In the above Graph 1; unless you are lucky to be born in a wealthy family, your wealth (driven by your earning potential) starts from the bottom (0). The thick or darker line represents productivity and the lighter one represents wealth. Your wealth will grow or stagnate depending on your productivity, financial discipline and shrewdness. Most people start earning…
Chapter 1, The First F; Financial independence, part 1
A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life. — Suze Orman Are you financially independent? Do you have enough money to cover your basic needs and have some to save for the old age? You need money to buy your needs and wants. You cannot be happy and achieve peak performance unless you afford to buy your basic needs. How do you ensure you are financially stable to have peace of mind? Considering that man’s needs are a moving target, you need a plan for financial independence to…
Is your board up to the task?
We live in coronavirus times. These times call for new and better ways to work. For long, boards were encouraged to conduct virtual meetings to improve collaboration and value addition. The main forum in which board members add value is during board meetings. Boards that achieve the most at the board meetings improve their organizations. But not all boards are the same. Your board must embrace technology and new ways of working. As the lockdown period continues to be extended, we must start getting used to the new world order. Remote working. #covid19 is inviting the world to fast track…
#coronavirus pandemic: My response to those against the lockdown in Uganda
A one Tom N. Mbalinda has opined against Uganda’s current lockdown of the country, thus: “You cannot shut down an economy because of a disease that kills less than 3% of persons who contract it. These are stats from countries with ageing populations, unlike us. Save for Italy with a fatality rate of over 10%. But let us face it, the median age in Italy is 46, compared to Uganda at 15. I would be considered a young person if I was in Italy at my ‘ripe old’ age of 43. Even when Aids afflicted almost 25% of the adult…
From whatsapp: End the Lockdown!
Call me insensitive if you wish. But I gotta say this. You cannot shut down an economy because of a disease that kills less than 3% of persons who contract it. These are stats from countries with ageing populations, unlike us. Save for Italy with a fatality rate of over 10%. But let us face it, the median age in Italy is 46, compared to Uganda at 15. I would be considered a young person if I was in Italy at my ‘ripe old’ age of 43. Even when Aids afflicted almost 25% of the adult population in Uganda with…
