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Saturday, November 15, 2008

My Maid/Servant Is Richer Than Me

Yesterday as I was going through the reminder letter for my maid's visa renewal, my mind started doing it's own mathematical calculation. And finally decided to tell me: "Hey Boss, you know what? Your maid is actually going to be richer than you!" How is that possible? I pay her salary, I feed her and provide her accommodation, and how is this even possible, you may ask?

Simple. She is a live in maid from Indonesia and comes from a poor family (obviously). When I employed her from the agency, I had spent almost RM6,000 that includes her visa, insurance, health check-up, etc. Her monthly salary is tied at RM500. That means annually she is getting RM6,000 - net. She has told us once before that she plans to work with us for at least 3 years, if its possible. So, using these assumptions, she will be taking home RM 18,000 at the end of her work term(Without any interest).

This is definitely a huge sum.Especially when she is going to convert it into their Indonesian currency and spend it there. All her expenses while she is with us is born by us, so she does not have anything to spend on or worry about.Her CASH FLOW is so strong! Zero outgoing and 100% incoming. Is she smarter than her employers in financial terms or has she educated herself by reading Rich Dad, Poor Dad by Robert Kiyosaki? If she intends to, she can be a real estate investor and retire as a millionaire as I have disclosed here.

In my opinion, she has done a wise move. Moving on to a foreign country, which gives a higher exchange rate than her own, that too in her young age.The only doubt in my mind is that how is she going to manage her money. If only she invest some portion of it properly in instruments that provide with compounding interest, she can help improve her financial position of her family further.

What do you all think?

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poor boomer said...

Why are you importing a maid/servant when you can get one locally?

t-luck said...
This comment has been removed by the author.
t-luck said...

Hi poor boomer,

Thanks for dropping by and double thanks for your comments.

In Malaysia, currently it is quite difficult to get one, especially when we needed a live-in maid. Apart from that, when we were younger, my parents had employed local maids and the experience that we had with them (maids) was not so encouraging.