Living on interest

[Starmix]

that means the competition will be higher. I think you need to be very much innovative if you really want to continue making profit because of more competition.

I cannot reduce the price. I'll just wait and see where people buy. The other seller doesn't apply for a franchise so most probably their milk tea isn't tasted by a franchise dealer who studied milk tea processing and mixing.

 

[Chibson]

I cannot reduce the price. I'll just wait and see where people buy. The other seller doesn't apply for a franchise so most probably their milk tea isn't tasted by a franchise dealer who studied milk tea processing and mixing.

Good, I think you already have an upper hand because you applied for franchise and your competitor did not. In every business there is always competition.

 

[Starmix]

Good, I think you already have an upper hand because you applied for franchise and your competitor did not. In every business there is always competition.

That's right, I sometimes spent sleepless nights thinking on the milk tea branches I plan next year. I'm thinking on who to hire to do the cashiering. I lack trust outside of my family circle.

 

[Niyi Briggs]

When you invest your money into a good venture, you would start living on interests. That's because the capital would still be available anytime you want. But you are getting profits..

 

[RicAngelo]

That's good, someone that was a civil servant for a good 30 years deserves all the good things in the world.

at least I do not have to worry about her anymore, because every month she gets the money for herself and it is enough for her daily life and still she can save it

 

[fcbetting]

In Croatia best way is renting apartment during tourist season. Some charge 50$+ in middle of season per day. Since I can't get apartment on sea, I would like have smaller apartment for rent in continental part of Croatia. There you can get 100$ per month or even more if you are in bigger town.

 

[Chibson]

at least I do not have to worry about her anymore, because every month she gets the money for herself and it is enough for her daily life and still she can save it

Probably, since the money can take care of her properly, you do not need to worry about her again which is actually a good thing for you.

 

[RicAngelo]

Indeed, at leat her pension is enough for her and her saving is enough for her too to make interest, I never wanna know how much her saving is, but she told me anyway, but it is not my money, though LOL @Chibson

 

[Chibson]

Indeed, at leat her pension is enough for her and her saving is enough for her too to make interest, I never wanna know how much her saving is, but she told me anyway, but it is not my money, though LOL @Chibson

That's good, I really wish her the best.

 

[Starmix]

One can achieve this kind of life to live on interest. You must save more while still young because when you're old your strength is not the same when you're young. Better save more than spend more.

 

[Passiveearner]

Since I am a Muslim, I would not consume usury or interest. I think that there are other great methods to generate passive income.

 

[cherry123]

That's how it should be you live on interest and be securing your future with retirement plan. With this, you don't have to labour and stress yourself looking for money in old age

 

[RicAngelo]

Since I am a Muslim, I would not consume usury or interest. I think that there are other great methods to generate passive income.

We Have a Bank of Sharia-based on Islam law here, and my mom saves her money in this bank, its like profit sharing and I am sure you have this kind of bank or other financial things based on Islamic Law

That's good, I really wish her the best.

Thank you so much my friend

 

[Chibson]

One can achieve this kind of life to live on interest. You must save more while still young because when you're old your strength is not the same when you're young. Better save more than spend more.

It is not all about saving alone because your savings can finish. It is important to save but you must also invest.

 

[Springtime]

In my place, we do not have a pension system. We just have a Mandatory Provident Fund which requires employer and employee to contribute 5% of his/her monthly salary to the Fund. The Fund is managed by investment companies. Depending on your risk appetite, yo may choose high/medium/low risk products. However, money from MPF is not sufficient for retirement. We have to save money and make investment to prepare for retirement.

 

[Starmix]

In my country we're obliged to contribute a percentage of our total gross income. We're automatically deducted from our salary and it's saved to SOCIAL SECURITY SYSTEM for private offices and to GSIS for government offices.

 

[eldavis]

I believe this is also where passive income comes into play. When we invest into something that is able to generate passive income for ourselves, it is the same as our money ( investment) generating more money for us.

 

[Elendu]

In Nigeria If you are enrolled in the CPS contributions will be deducted from your salary on a monthly basis. If you have an RSA account, you can make voluntary contributions on a regular basis.

 

[Chibson]

I believe this is also where passive income comes into play. When we invest into something that is able to generate passive income for ourselves, it is the same as our money ( investment) generating more money for us.

Most of the time individuals do this for themselves. But there are some countries where the workers are mandated to deduct certain percentage of their salary every month and they will be paid when they retire.

 

[Yohanna]

Living on interest could be very difficult situations especially if money is not coming in.