To live up to your potential: get smarter with your time and money
Ever since quitting my 9–5 job as a customer support representative in the Philippines while still studying in a university. I’ve stumbled into the world of online freelancing. From being a logo designer to virtual assistant to finally becoming a direct response copywriter and social media consultant. I’ve realized that I can explore more on my skills, grow more, and also earn more outside of my normal day job. My “AHA!” moment which I thought, my fellow Filipinos also realize.
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But, while my country has a lot of social media user and according to 2018 SmartInsights survey, is in the top 5 of active internet users. Many are still unaware of the untapped potential of the internet. Something that I realized after attending one of many seminars, webinars, and workshops on creating an online business and passive income. That’s where I got the chance to ask for an expert viewpoint on what else can be done to live up to our potential and what’s holding us from making the transition.
For Wealth Mentors CEO and founder Aaron Sim, his company’s mission is rooted in personal experience. After seeing a line of retiree with slump shoulders waiting patiently to get their meager monthly pension while on a business trip in the US, he became determined to turn around his career from being a director of a multinational company to building his legacy and help prevent other professionals from wasting being trapped in the rat race.
“I can’t believe, I never saw it before. I’ve been working 70 hours a week and earning a six figure income but I’ve been spending less and less time with my family, which is the reason why I’m working hard. Something was seriously off. I know that what I learned from traditional jobs and education is not preparing me for the life I wanted” said Sim, whose company Wealth Mentors was awarded Singapore’s Promising SME Award in 2012.
Wealth Mentors is an educational organization which runs seminars to over 100,000 people annually in Southeast Asia particularly in Singapore, Malaysia, Brunei and the Philippines with partners from US like Millionaire Trader Mirriam MacWilliams, serial entrepreneur Derek Gehl, UK Miracle Man Skip Archimedes and Singapore’s veteran property investor Dr. Patrick Liew.
But for hardworking Filipinos, whose income comes from 9–5 jobs. The idea of trading in the stock market, real estate, and creating an online business is not that familiar. That sometimes the concept is misjudged as another MLM, pyramiding scam and get rich quick scheme.
Breaking the traditional mindset
“Studying 15+ years in school, then finding a ‘stable’ job (a high paying one preferably), is what most people, not just Filipinos, think ‘the right path’ for them. They probably think they’re better off earning a monthly income working in a 9–5 job no matter how small or high their salary is than to take a risk running their own online business because they don’t know how and that it’s not taught in school“ Sim said. “Lack of knowledge on other income stream option are what I see as why sometimes just for the sake of earning a job, they [Filipinos] have to work overseas and be away from their families, work as an underpaid intern in a hospital for more than a year or even pay to do a job just to get an experience. And they don’t have a choice but to accept this terms because they are following the traditional mindset of the society”
But Sim aims to break this traditional mindset by running educational seminars. To date, Wealth Mentors have been running various educational seminars in the Philippines for more than two years. Wealth Mentors initial target are young professionals who are interested in investing opportunities and creating a passive income. But to their surprise, older participants like OFW’s and retirees are joining the seminars as well. “Most attendees heard about us on our social media pages and referred by past participants”, Sim said.
The goal of the seminars is not to let go of their job immediately but to teach some ways to diversify their income and get smarter handling their money so that they can use their money to work for them via investing to the stock market or creating a passive income in online business.
Due to the unpredictable situations and the differences of the beliefs and attitude of the participants, Wealth Mentors does not guarantee the same results for everyone. Sim and his partners always pointed out the risks, pros, and cons of starting a business or investing during the seminars but to his surprise, the participants are not deterred in investing in their future.
Escaping the rat race and living up to potential
Based on the Philippines economic history, the Philippines has been a model of development in East Asia second only to Japan in 1950’s — 1960’s. The country has been one of Asia top industrial powerhouses and the agriculture exports are booming. Now the Philippines has been one of the poorest countries in Southeast Asia, and Sim sometimes wonders why Filipinos can’t turn around its course and live up to its potential when the Philippines has ample natural resources and skilled workers.
Beyond expansion in the Philippine scene, Wealth Mentors true mission is to live up to its tagline “We Enrich Lives”, that is to help Filipino live up to their potential by imparting knowledge on other income stream opportunities like investing and trading in the stock market, building an online business, and how good health can make you more money. Sim noted the lack of spare cash due to low income of many Filipinos as the main factor why investing is impossible, but still, according to some survey middle class and upper-class Filipinos account for a total of 25.3 percent. And yet only 8 percent invest.
“That’s what we are really trying to do, help Filipino escape the rat race and live up to their potential. Which is either the potential to earn more money, free time to do their passion and spend with their family, and not waste their active years working for others” said Sim
“Like one our student Ermia, a Filipino managing consultant and a single mom of five kids. She doubled her investment capital within two months and can now spend more quality time with her children during the day.”
Through Wealth Mentors, Sim and his partners hope to educate people about their options. “Times are changing and traditional ideas about life, money, and work doesn’t make sense anymore — like working for others during the best times of your life then, saving your money for retirement when you don’t have much energy” he said “we now have the internet, which opens equal opportunities for everyone to earn without limits. And by the end of the day, I think we need to ask ourselves how we want to live our life, and I think spending 8–9 hours a day for someone else is not part of it.”
“And by the end of the day, I think we need to ask ourselves how we want to live our life, and I think spending 8–9 hours a day for someone else is not part of it.”