I have been outsourcing to lower wage countries for about 5 years now. Only recently have I started to read about people with reservations of sending work overseas, particularly when their own citizens are facing increasing unemployment levels. Some people also feel in is unethical to pay overseas workers such low fees. I would like to address some of those ideas.
First of all, anyone who establishes long term relationships with professional outsourced developers will realize that the world is not falling to some inhumane subsistence wage. Quite the contrary all talented, professional workers wherever they are located soon start to earn world class incomes. I have seen this scenario play out many times. Low cost outsourcers in countries like India or the Philippines start by offering their services at ridiculously low rates; sometimes only a few dollars per hour. Workers who consistently over-deliver quality work, on-time can steadily increase their hourly rates. There are plenty of workers living in third world countries making first world incomes. It is not unusual for a talented worker to make five to ten times their starting wage in only a couple of years. I have seen…
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A Penny Saved is More than a Penny Earned!
I have been considering investing in government bonds. I would like to diversify my investments and government bonds are completely risk free. New Zealand and Australia both have relatively high interest rates, so bonds can pay as much as 5 or 6 percent per year. The problem is that 20 percent of the interest income will be deducted for taxes and with other exchange rate risks and fees, it is likely that I would make less than 3 percent. This is comparable to what US government bonds are currently paying.
Therefore, if I invest $100,000, I will make $3000 per year or $250 per month. $250 per month on $100,000 tied up for at least a year. So basically that means, making an extra $250 per month is equivalent to having $100,000 in bonds. In order to make an extra $2500 in passive income, you would need to be the government bond equivalent of a millionaire. A million dollars in bonds would only provide you with $2500 a month of income.
How about looking at this from a different perspective. Every $250 you could save in…
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Your New Office?
The hardest part of living the jet set citizen lifestyle is figuring out how to pay for it. There are many books and blogs out there telling you to give up everything to chase your dreams but they often lack a clear workable plan that the average person can follow. It is easy for a single, white, twenty-something male to tell you to quit your job and travel the world when they have few obligations and a whole world of options. What about those of us who are older, married and have real world responsibilities? Is the jet set citizen lifestyle still possible? I think it is. Here are some ideas for you to create the lifestyle you want.
Save More
An extra dollar saved is worth far more than an extra dollar earned. Extra earnings are taxed so, you do not get the full amount. For most people, expenses always rise to match income. The more you make, the more you spend. Consider this, if you take home $3000 per month in salary and spend $2500, you save $500 per month. If you were to cut your expenses by 20 percent…
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Bring Me the Money!
Blogging could be a fantastic career. It could potentially afford you the opportunity to travel around the world from Internet cafe to Internet cafe posting your latest insights on the niche you have chosen. I can’t think of a better lifestyle than that. With low start up costs, the ability to work wherever and whenever you want and a chance at fame and fortune; it is no wonder so many people are interested in the next online gold rush. We all want to be rich and famous. We all wish we were movie stars, rock stars or business tycoons. If only wishing were enough. Unfortunately, being an “overnight success” often takes years or even a lifetime of sacrifice and hard work.
Can you have a career as a blogger? Absolutely! Anything is possible in this world. New rock stars, celebrities and millionaires emerge constantly. The only problem is that they are a extremely small proportion of the population. However, that doesn’t stop so many people chasing the get rich quick schemes on the Internet. We all know that if it is too good to be true, then it probably is, yet…
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This is how to run a business!
There is a distinct difference between having a job or having a business. Many small business owners, freelance workers and professionals have built themselves good jobs with a decent income, but these types of self-employment are often not real businesses.
What is a Job?
A job is when you get paid for doing work. Your salary is generally directly proportional to the hours of work you put in. Work more hours – make more money. Work less hours – make less money. Most people are stuck in a job for life. If they should ever fall ill, get injured or worse, income stops coming in.
What is a Business?
A business is about creating systems and processes that earn you money irrespective of the time you put in. Ideally a good business can get to the point where it almost runs itself. Ideally, an effective manager shouldn’t have to do anything, because her employees and the systems put in place practically run the business by itself.
A key factor in running a business is having people to do the work. Work online has opened fantastic opportunities to outsource…
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