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Social Entrepreneurship Can Increase Return on life (ROL)

Updated: Jun 13

During my financial life coaching sessions, I often meet people who aren't sure what to do next after they’ve accumulated enough wealth for their own retirement or to support their family members and loved ones. If this sounds like you, why not consider the suggestions below? Social entrepreneurship can be a powerful way to use your skills and resources for a greater good while finding personal fulfillment.

Ever thought about giving back in a way that goes beyond just donating time or money?

Social entrepreneurship might be just what you're looking for. It's about creating businesses or organizations that tackle important local issues. Your nonprofit or mission-driven company could make a lasting impact on a cause you care about. And while some of these ventures might make a profit, the main goal is to improve your Return on Life (ROL) – for you, your employees, and your community.

Here are three reasons why social entrepreneurship might be worth considering:

1. Solving Local Problems Directly

In Malaysia, there are so many local issues that need more attention. While big organizations handle widespread problems, your social entrepreneurship project can target specific issues in your community. Whether it’s organizing park clean-ups, setting up free clinics, or creating jobs for underprivileged groups, your efforts can make a real difference. Plus, you’ll be inspiring others in your community to pitch in and help too.

2. Using Your Skills in New Ways

Starting something new can be a great way to shake things up, especially if your current job feels a bit stale. Creating your own company lets you use your skills for something positive and meaningful. Many people, especially those nearing retirement, find joy and purpose in starting new projects. Combining your expertise with a charitable mission can be incredibly rewarding. It can also become a key part of your legacy, especially if it brings your family together around a cause you all care about.

3. More Freedom to Give and Get Back

Reaching a point in your career where you have financial freedom can be both exciting and a bit overwhelming. When work becomes optional, endless possibilities can sometimes lead to boredom. Social entrepreneurship provides a meaningful way to stay engaged and make a lasting impact. Many people have ideas for improving their communities but lack the business skills to make it happen. Your experience could be the key to finding the balance between achieving a mission and staying financially stable. This way, you can create something sustainable and scalable, enhancing your Return on Life.

Reflect and Act

Have you thought about social entrepreneurship as a goal for your next life stage? What skills do you have that could help you start and lead an organization with a mission beyond profit? What local causes could you impact? What challenges might you face?

Take some time to think about these questions. As someone passionate about Life-Centered Financial Planning, it's all about helping people find clarity in life and make informed financial decisions that lead to greater happiness. Let’s explore how incorporating social entrepreneurship into your Life-Centered Financial Plan can boost your Return on Life.

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