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Actual - The Wealth Building Benefits Of Being Debt Free
Eventually, after much personal sacrifice you’ll reach the day when you’re completely and utterly debt free. You don’t owe anything to anyone. You don’t have to earn money to support your debts, just yourself.
I hope that sounds sweet to
I hope that sounds sweet to
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
your ears. Because that’s one of the few thoughts that will help you to survive the hard times on your journey to the land of the debt free. But to provide you with some additional motivation, I want to give you something to think about.
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
Two recent surveys asked people the following questions:
Question One: How much extra income would you need to feel well-off?
Now before I reveal what the results were, I want you to get some paper and write down your own figur
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
;
I would feel well-off with an extra..........income each year.
Now for the second question!
Question Two: How much money would you require before you gave up working for a living?
Again, before I reveal all the results
I would feel well-off with an extra..........income each year.
Now for the second question!
Question Two: How much money would you require before you gave up working for a living?
Again, before I reveal all the results
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
, write your figure down.
I would retire from work if I had a lump sum of..........
Have you written down both of your answers? Good! And now it’s time for the results. Drum roll please!
39% of people asked said that an extra $1
I would retire from work if I had a lump sum of..........
Have you written down both of your answers? Good! And now it’s time for the results. Drum roll please!
39% of people asked said that an extra $1
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
000 of income a year would make them feel rich. That’s an extra $832 a month. Would that be enough for you?
Okay, how about this? Another 50% of people who were asked felt that they would need an extra $30000 income a year. That’s an ext
Okay, how about this? Another 50% of people who were asked felt that they would need an extra $30000 income a year. That’s an ext
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ra $2500 a month. How about that?
The other study revealed that most people would give up work completely if they won $474000. Older workers aged 50-55 needed slightly less at an average of $416000, while people aged 40-50 claimed they w
The other study revealed that most people would give up work completely if they won $474000. Older workers aged 50-55 needed slightly less at an average of $416000, while people aged 40-50 claimed they w
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ould need $550000 before they would consider retiring. This figure will tend to vary with age. Older people generally don’t feel that they would need as much money before they could afford to retire comfortably.
Now of course I don’t kno
Now of course I don’t kno
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
how old you are, but are those figures anything like the number that you’ve just written down?
Great, but what’s all this got to do with being debt free?
Well, just consider the amount of your monthly income that will no longer be swal
Great, but what’s all this got to do with being debt free?
Well, just consider the amount of your monthly income that will no longer be swal
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
lowed up by debt repayments.
All of a sudden you’ll feel rich!
Let me give you a common example. If you had a mortgage for $240000 and perhaps $40000 of credit and storecard debts, your monthly repayments would amount to around $2500.
All of a sudden you’ll feel rich!
Let me give you a common example. If you had a mortgage for $240000 and perhaps $40000 of credit and storecard debts, your monthly repayments would amount to around $2500.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ach and every month!
Now if you didn’t have these debts, doesn’t that also mean that you’d have a ‘spare’ $2500 a month just drifting around, kicking its heels? And what are twelve $2500s?
I bet you wish you’d learn your two thousand fi
Now if you didn’t have these debts, doesn’t that also mean that you’d have a ‘spare’ $2500 a month just drifting around, kicking its heels? And what are twelve $2500s?
I bet you wish you’d learn your two thousand fi
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ve hundred times table, don’t you?
The answer is $30000.
So although your income may not have risen by as much as a brass farthing, the very act of clearing all of your debts will have ‘given’ you an extra $30000 income each year.
Is t
The answer is $30000.
So although your income may not have risen by as much as a brass farthing, the very act of clearing all of your debts will have ‘given’ you an extra $30000 income each year.
Is t
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
hat anything like the figure that you wrote down earlier? Would that be enough to make you feel rich? It was enough for almost 90% of the people in the survey that I referred to.
But you ain’t seen nothing yet. Now for the big one!
If t
But you ain’t seen nothing yet. Now for the big one!
If t
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
e money that’s no longer needed for debt repayments ($30000 a year) was saved in a suitably safe and tax efficient manner, at perhaps 6% per annum, watch what would happen.
End of Year
1) $31800
2) $65508
3) $
End of Year
1) $31800
2) $65508
3) $
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
101238
4) $139112
5) $179260
6) $221814
7) $266924
8) $314740
9) $365424
10) $419148
11) $476098
12) $536464
13) $6004
4) $139112
5) $179260
6) $221814
7) $266924
8) $314740
9) $365424
10) $419148
11) $476098
12) $536464
13) $6004
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
2
14) $668278
15) $740174
It’s amazing how fast it adds up!
In eleven years you’d have over $476000 which is more than most people said they’d need to retire.
But with one profound difference! These people a
14) $668278
15) $740174
It’s amazing how fast it adds up!
In eleven years you’d have over $476000 which is more than most people said they’d need to retire.
But with one profound difference! These people a
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
nswered that question on the basis that winning that amount would allow them to give up work.
But you won’t need to wait for that win that will probably never arrive. If you follow this example, it will happen. You will reach that stage.
But you won’t need to wait for that win that will probably never arrive. If you follow this example, it will happen. You will reach that stage.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Just give it time and this will happen. You’ll be free to retire, if you choose to.
I hope you appreciate the massive difference between these two situations. It’s a lot more fun waiting for something to happen when you know it will,
I hope you appreciate the massive difference between these two situations. It’s a lot more fun waiting for something to happen when you know it will,
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
instead of hoping for something that’s highly unlikely.
And these figures are by no means exceptional. Many people have debts that are even larger than the one I have used in this example. Just imagine the position if you had a mortg
And these figures are by no means exceptional. Many people have debts that are even larger than the one I have used in this example. Just imagine the position if you had a mortg
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
age of $360000 and other debts of perhaps $60000!
So repay your debts, and within 11 years you are likely to be in a position where you never need to work again. If that isn’t a big enough incentive to get debt-free, I don’t know what is
So repay your debts, and within 11 years you are likely to be in a position where you never need to work again. If that isn’t a big enough incentive to get debt-free, I don’t know what is
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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