Sunday, July 30, 2006

Paycheck...

I received my second paycheck on Friday and when I saw the amount I have, it dawned on me that I need to earn more. The mere RM2000++ after EPF/SOCSO/What-not deduction is barely enough for me to do anything. I am not saying that I want to spend lavishly on gadgets or dine at fine restaurants everyday. I have my car loan and maintenence, Government study loan, insurances and monthly money allowance to my father to pay for. All of this sums up to two thirds of my RM2000++ income. Coupled with the fact that I do not foresee my boss letting me going into the field to do sales in the near future is not helping. No Sales = No Commission = Meagre income. All my boss said to me was ,"You're in a totally different ball game from the rest. You need to have a bigger vision and understand more things... " before he threw three copies of thesis papers on various upcoming microscopy theories for me to read on. What the hell he meant by a "different ball game from the rest"? I have no farking idea.

I hate the fact that I have to limit my spending especially on food just because I am limited by my salary. As I see it, in order for me to achieve financial freedom, I have to seek alternative sources of income on top of my day job. Is it Multi-Level-F*cketing? (A pun my friends and I came up with for Multi-Level-Marketing) No. I am moving into the insurance field. Yeap, I am seriously considering to become an insurance agent for Great Eastern. I am in the midst of finalizing few details (agent tests, learning the products, etc) before I become a certified legal agent. Thus, on top of my eight-to-eight-Monday-to-Friday-day-job, I will work as a part-time agent on weekends. I am hereby announcing to all my blog readers, I will most likely enter the insurance/investment industry and I hope you peeps will provide me with support in the future!

7 comments:

Anonymous said...

I have been thinking about the same thing too - alternate incomes.

My parents are not working anymore and i need to support them. It's really hard with such a minimal income. Some are lucky, despite minimal income, their parents are still working, and a small allowance for them is sufficient.

All my dreams of getting this and that have to wait i guess.

I've thought of investing in shares, but don't really know how it works. Still learning. Heck I've even thought of working in a petrol station, pumping fuel and cleaning people's windscreens on weekends (company doesn't allow second jobs, except those that won't cause conflict of interest). But they rather hire foreigners, probably due to cheaper salary.

What other options besides insurance man?

Is this some kind of trend for graduates, thinking about second jobs and complaining their salary is too low?

I thought engineering pay was high, but even a stewardess' initial income is 5 times ours.

Unka said...

I think I am considered very lucky as my father is still working and my family does not rely on my salary to meet ends meet. However, I think it's the duty of a son to contribute significantly to my family's income regardless of whether they need it or not. I chose sales because it's the field where hardwork is rewarded with high pay unlike desk jobs. Now I am venturing into Insurance because I see a potential in getting contacts which might prove useful if I ever want to start my own business. Besides, the commission is quite lucrative. I don't trust MLM schemes but I am not doubting that it can produce millionaires.
As for investing in shares... first of all, if you and I were to invest, the money we put in will be so insignificant that we can't make much out of it. Plus, we are not willing to lose the money we invest in and low risk (little money invested) equals to low yield. High risk, high returns. It's as simple as that. I seriously suggest you seek other alternatives. Probably online trading? I do not know of any suppliers where I can source stuff from but if you do know some, you can try auctioning it off at some forums or eBay.

Good luck Mr.Anonymous #1

Anonymous said...

thanks man, appreciate your feedback

Joshua said...

yo uncle~...after you received your 2nd paycheck then only you realized that it's not enuff?hahaha..shudl've calculated everything before we stepped into the job ler..

insurance? actually i think it's a better move compared to shares and mlm. i like your version. :P

why? cos insurance is something everyone needs to have and needs to know more about. lotsa people don't really know the policies and how much they are covered. especially the older folks. so sometimes when something happens to them, they thought they are covered, buthen due to misunderstanding they are not, so they suffer. so, it's a good thing la in my opinion. you do a great service unto society by doing this job.

2ndly, insurance. yes. money comes in fast. no doubt. i've seen people my age already driving a honda jazz, earning 5 figure after just working for 3,4 years. they have visited places all over the world. free. due to hitting targets, company sends them for 'holiday'. spain, italy, u name it.

sounds tempting aight'?

here's the cons i guess.
nobody's dumb and stupid. probably there are hundreds of people having the same idea with you. meaning? you have to fight tooth and nail with them. u gotta be desperate enuff. i've heard stories man. door to door. sit in front of hospital. stand in shopping mall. heheh. your face must be like a crocodile's skin.

you wanna do part time? a bit hard, bro. firstly u'll drain urself a lot. ur rest time taken up. 2ndly, with only the little time u haf, it's hard for u to concentrate full time. in sales or insurance, you know well, effort+time=money. no time, no effort, how to get ppl leh..:)

the offer is nice. but u need to go full time in, and start from scratch, which ain't easy at first.

Unka said...

Thanks for your comments but I beg to differ on two areas; Insurance as fast cash and getting all desperate to sell.
First of all, insurance was never about fast money. Ask your friends who does insurance. If I wanted fast cash, I would have gone into MLF. Insurance commissions come in for the duration of six years, not immediately.
Plus, I see no reason not to try to do it part time on weekends. I know sales/insurance is hard but that doesn't mean it's impossible. I am not relying 100% on the insurance sales to earn an income. It's suppose to complement my existing one. Plus, I know of a lot of people doing insurance as part time initially before switching it to full time once they have established their network. Besides, of course I am not going to start cold-canvassing strangers to be my initial clients. Servicing my list of contacts is my initial step and giving them incentives to introduce their friends to me will be the next. Cold canvassing requires a lot of "thick-skin-face". Hell, I am already damn thick skin doing sales as it is, what is insurance? Nothing's impossible my friend. Instead of wasting time watching TV/going to malls on weekends, I rather spend the time on acquiring insurance sales to supplement my income. Heck, I am young, why not give it a shot? I have nothing to lose. :)

Unka said...

Regarding the calculation of salary...
It didn't dawn on me only after I drew my second paycheck. I have been worrying about my salary long before I even graduated.
I just realized that my boss wants me to do marketing (probably due to my command of English) and this means it will take much longer time for me to increase my income. As such, I need to address this problem and start doing insurance.
If this insurance endeavour fails, I won't have any regrets because I know at least I tried. To be dissuaded even before I try, now...that's going to be my biggest regret later.

Anonymous said...

Well, which agency you joining? Super Group?