Recently, I read 426’s views on the future of Japan and the possibility of a global economic crisis. I also came across quite a few predictions about major disasters striking Japan this year. It made me think that the “big one” people have been talking about may indeed be approaching. I have never lived through an economic crisis, nor am I particularly familiar with earthquakes and other disasters. About all I can do now is prepare for everything I can think of, which may at least give me a little peace of mind.
First, I need to consider immediate threats to my safety—earthquakes, tsunamis, and fires. I do not know enough about any of them. Even if one were to happen right around me, I could not guarantee that I would react properly or take the correct action immediately. That is why, while looking for a place to live, I have been considering location and price in order to find a relatively safe area and compensate as much as possible for my lack of disaster preparedness. Of course, I still need to learn about disaster prevention, but perhaps not to the same rigorous extent as someone living in a high-risk area. I can also take additional steps to secure the belongings in my room and reduce potential property losses.
After ensuring that I can survive disasters in the natural world, the next challenge will be disasters in the financial world. Having never experienced an economic crisis, I genuinely cannot imagine how severe the downturn might become or how difficult everyday life could get. About all I can do is make sure that I still have enough room to sustain myself through the harshest part of the economic winter.
There are two sides to this. One is maintaining my Japanese work visa so that I will not be forced to leave the country. The other is increasing my income so that I can support myself while also becoming better positioned to seize the opportunities that emerge after the economic crisis.
Regarding the work visa, the main reason for maintaining it is that I am already in Japan, and keeping my current employment status is the least costly option. Other countries are also reducing immigration, and given my personal interests, remaining in Japan is likewise the lowest-cost choice. While maintaining my work visa, it would be best if I could also obtain permanent residency (PR). That would reduce many of the costs and constraints of living in Japan and give me greater freedom in choosing how I earn an income. The fastest route would, of course, be the one-year path for Highly Skilled Professionals with 80 points. Even then, there would still be a considerable wait after submitting the application. Assuming I change jobs by the end of this year and can reach 80 points when the other application factors are included【15+10+15+5*2+15+15】, if processing after the application still takes another one or two years, I might not receive PR until the end of 2028 at the latest.
Then there is income. In the future, I hope to have two sources of income. One would be salary income; the nature of the job does not matter much, although I would personally prefer work that can be done remotely and leaves me with more time of my own. The other would come from side work or passive income.
When it comes to making money, I believe that, aside from dishonest or improper methods, the only way is to meet other people’s needs. It is a matter of give and take: people choose to pay money in order to have their needs fulfilled. In employment, a company turns a particular need into a concrete position, and I earn a stable cash flow by providing my labor. However, a job consumes a great deal of time and energy, indirectly reducing the time available to explore other possibilities. This is where remote work has an advantage, as it makes it possible to redistribute more of my time as I choose. Another way to make money is to create a product that other people can pay for because it satisfies their needs. Both approaches are based on meeting other people’s needs. With employment, I must continuously provide my time over the long term, but in return I receive a stable cash flow. With a product, I may only need to undertake one major creative effort, followed by a small amount of ongoing maintenance, to generate a long-term and continuous cash flow. The prerequisite, however, is thorough market research and promotion to ensure that the product is reasonably competitive within the area of demand it targets. In other words, one approach involves selling my time and labor, while the other involves selling an asset I own.
After accumulating a certain amount of personal assets, the next question will be how to manage and invest them so that money can generate more money. Of course, it may be better to think about this systematically only after reaching the 100k level. When assets are still limited, I may be more inclined toward a high-risk investment portfolio, making it easier to lose the principal instead. Still, putting a small amount of spare money into the stock market to develop my trading skills could also be a worthwhile path forward.
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