The trap of Single Income & Single Identity

Single Income and Single Identity (SISI) is a new phenomenon in which professionals get trapped. A young Executive gets good paying job in a Multinational company, it looks very nice and comfortable initially, but once he get used to this life style it can be trap for the rest of life. Like the same high performing executive when reaches in his 40s/50s he may not be able to adopt the new changes and suddenly become a liability for the company for which he spent his whole career.

Take a case of a mouse put at the top of a jar filled with grains. Initially he was very happy to find so much of food around him so he doesn't need to run around searching for food and can happily lead his life. But in few days, as he enjoyed the grains, he reached to the bottom of the jar. Now he is trapped and he cannot come out of it. So he has to solely depend upon someone to put grains in the same jar for him to survive, he may even not get the grain of his choice and he cannot choose either.  If he has to live, he has to feed on whatever has been put into the jar.

This teaches us few lessons of life and Money Management:

 1) If we focus more on short term pleasures without understanding its future implications, it can lead to long-term traps

 2) Nothings comes easy in life and still if things are coming easy and comfortable we might be getting trapped into survival mode

3) if we find things easy and don’t use our full potential, we are losing it

4) Once we get trapped, we might not be able to come out of it and have to depend on someone else mercy for our survival.

5) If you don't take right Action at right time, you will finish what you have and will be in no position to bargain for future.

And finally we need to keep ourselves ready for future challenges and do not get trapped into a comfort zone without understanding its future implications.