By Burnett Munthali
We have to critically analyze ourselves as citizens of this country if we want to move forward and develop ourselves because government won’t help us. We have to look at our own potentials and start utilising them now.
Introduction
This article focuses on profession, source of income, education, skills, income, investment, and retirement ( old age)
Profession
Profession is a paid occupation, especially one that involves prolonged training and a formal qualification.
Similar: occupation, vocation, line of work, line of employment, business, trade, day job
Education
Education refers to the discipline that is concerned with methods of teaching and learning in schools or school-like environments, as opposed to various non formal and informal means of socialization.
Skills
Skills are the expertise or talent needed in order to do a job or task. There are many different types of skills that can help you succeed at all aspects of your life whether it’s school, work, or even a sport or hobby. Skills are what makes you confident and independent in life and are essential for success.
Income
For most of us, income is the money we use to fund our day-to-day expenditures. The income may be received in the form of wages, salary, freelance payments, or the receipts of a small business. Investments, pensions, Social Security, and other government benefits programs may also be sources of income.
Income Definition – Investopedia
5 Sources Of Family Income
Detailed income sources are aggregated into five broad categories:
(1) Employment (wages and salaries)
(2) Self-employment (self-employment and farm)
(3) Property (dividends, interest, and rents)
(4) Transfer (alimony, child-support, worker’s compensation, education, financial assistance, public assistance and welfare, retirement.
(5) Family Income at the Bottom and at the Top: Income Sources. – NCBI
Types Of Income
I will explore each a bit more below!
(1) Earned Income.
Earned income is the most common type of income.
(2) Passive Income.
Passive income is the type of income where you receive money from assets that you have put money into or also worked on in the past.
(3)Capital Gains Income.
Investment
Investment is the action or process of investing money for profit or material result.
Similar: investing, funding, backing, financing, buying shares.
(Retirement age)
The retirement age varies depending on when you were born. In the U.S., the FRA is currently 66 years and two months for those born in 1955 and will gradually increase to 67 for those born in 1960 and after.
Conclusion
For this nation to move forward and develop itself, the citizens of this country must pay special attention to their education
profession, source of income, skills, income, investment, and retirement
Malawi must consider and value
education in order to be disciplined. We should not go the opposite direction other than education first.
The citizens of Malawi must find professions to get paid, especially after getting adequate training and formal qualifications of any kind in whatever field they choose.
We must all start investing no matter how small our income is. We need to invest in order to make more money. We should rely on ourselves to empower ourselves and not government. Just look at how MADEF (NEEF) is being handled today, it’s contrary to what was promised during campaign period. Many applicants who applied for the seemingly cheap loans have been put on hold for one year and some months after paying deposits for the same. Certain groups have waited for their loans to be processed from November 2020-December 2021(1 year) others from June-December (six months but to no avail.) Government is full of disappointments.
Everyone is likely to reach a retirement age at some point in whatever job we do because at a certain point we won’t have the energy to discharge our duties properly. We need to plan in advance towards our retirement because we will never remain strong forever but we will still need a source of income.
Skills are the expertise or talent needed in Malawi in order to do a good job or task. There are many technical colleges in the country to develop and polish the skills in our youth that can help the nation succeed at all aspects of your life whether it’s school, work, or even a sport or hobby. Skills are what can make Malawi confident and independent and are essential for success. Government must utilise these technical colleges fully to advantage of this country.
If we are not employed by anyone or any organisations, let us by all means employ ourselves so that we have a stable income throughout our lives. If we don’t employ ourselves in whatever small way, some politicians will take advantage of the situation and cheat especially the youth that jobs will be created for them. The youths will be very disappointed in the end when the promised jobs are not created. It is now time for everyone in this country to take a leading role and create those jobs for our youths.
