How to use the Power of Money

Imagine: One day, after years of hard work, your investments have paid off and are offering you a reliable and consistent stream of passive income. Finally, you can quit your day job and retire for the rest of your life.

So what will you do now? Travel the world? Move to a quiet countryside and live a simple life? Pursue your hobbies full-time?

When we are on the path to financial independence, it will not benefit us to be so narrow minded as to focus on earning as much money as possible. Instead, those who understand that money is power will ask: How are we going to use this power once we have acquired it?


Some people say that money is useless - it only helps accelerate their plans and projects. Others say that money is not important because it is used only for survival and social obligations. These people do not understand the power of money, and they lack the creativity on how to use this power to make the world a better place.

Among these people are those who complain about lacking money. Then when they get rich, they complain about having too much money. These people will never be satisfied with their lives, and won't bother to find ways to help others.

Then there are those aspire to spend their money on luxuries when they get rich. They look forward to their private aircraft, yachts, expensive sports cars, big houses, beautiful babes etc. To me, it just does not seem like the right thing to do when more than half the world is having trouble finding food.


Instead of spending money on ourselves or donating to charities, I propose 5 ideas to change the world:

1) Start a Microbank

Many people are trapped in poverty because of moneylenders who charge exorbitant rates and exploitative terms. Change their lives by providing affordable capital (and perhaps some business training), so that they can start or expand their small family businesses.

Personally, I am a firm supporter for maid rights. However, I don't intend to pressure the politicians to change the laws. Instead, offering another way to raise capital for their business can solve the problem at its root.


2) Create inspirational works that help to make the world a better place

I plan to write books, make videos and create services to inspire people. This is something many people can do, or hire someone to do.


3) Conduct Research: Find new ways to make a big difference

We can concentrate research on products and services used by poor people, whom large businesses and research institutes find economically unviable to explore.

For instance, how to build tsunami proof houses using available local materials, how to build a cheap water collector device for use in deserts, how to treat skin diseases in Amazonian indigenous people who have no access to medical doctors etc.

Personally, I plan to improve and make distribute a simplified phonetic system I have invented in the year 2000 to help improve world literacy.


4) Bust Exploitative or Harmful Patents

I already have my sights set on some patents, but here are examples of what other people are doing. Just imagine the difference we can make...

- Imperial College experts have developed a potentially cheaper version of an existing Hepatitis C drug by altering the molecular structure.

- EFF has launched the Patent Busting Project to take down some of worst software patent offenders.


5) Sponsor dedicated individuals unconditionally

I believe that most of us know a few people who have a deep burning passion for a good cause. The problem is that they are not keen to compromise on their principles to turn their passion into a commercial enterprise. Hence, they survive on a shoestring budget and make the best of the little money they can find.

What if we support them with a relatively small amount of money? We can leverage on their work to create a huge impact.

Why unconditionally? Because conditional sponsorships have a tendency to develop into ugly power struggles. If we want to help these independently minded people, we ought to give up any desire for control over them. As long as these people have integrity and financial common sense, we can entrust them with the money that will just allow them to break-even and keep their passions running.