WHY DOCTORS ARE LOUSY INVESTORS?

WHY DOCTORS ARE LOUSY INVESTORS?

Doctors are always lousy investors, after working for so many years,  I notice a few obvious common behaviour doctors are sharing, these characters might explain the reason behind why doctors are lousy investors,

1) Doctors are non-risk takers
We do things according to procedure and statistics, doctors only perform certain surgical procedures and prescribe certain medications based on best clinical evidence and trials. Doctors get used to sticking to rules and regulations, we do not take risks. Investing needs risk-taking and you might be losing money which is unacceptable to a lot of doctors.

2) Doctors are too busy to handle their finances
Doctors are busy people. We handle patients' complaints, do our best to treat them, We spend too much of time thinking of how to make our patients recover. Unfortunately we are not always being appreciated by patients nor their family members. We are too busy looking at our finances. Frankly, I personally do not look at whether patients pay me or not. During this MCO period in Malaysia, since I have more time and finally look at my revenue statement hospital sends me every month, I am shocked to know that patients owe me hundreds of thousands since 2016.

3) We think we can make it
Doctors always think that if we work hard, we will be able to retire in one day. We are well above average but the truth is, a lot of doctors are broke even though they are high earners. Many of my friends are getting fat cheques every month but they are big spenders as well. They can not retire because they are basically living paycheck by paycheck like a lot of Malaysians and Singaporeans.

Some doctors are still working at the age of 70 years old, I doubt that they love their jobs, they keep working because they just can't retire. Doctors lives are stressful, and I hope that I can retire soon and work part-time.

Formula to be Millionaires ( III)

Formula to be Millionaires (III)

So am I a millionaire? A lot of readers ask me. If you a millionaire, why do you bother to blog about making your first million in this blog. Frankly speaking, I do not have a million in cash but I can say proudly to you that I have a net worth of more than a million. I believe in investment, I believe that no matter what people told you before, there are still a lot of legal ways of making money.

First of all, I try to avoid buying bad/useless assets. The best example of this kind of asset is car. Some people might think that it is almost impossible for you to live in Malaysia if you do not have a car. I totally agree with that, if you are thinking of buying one. Buy within your means, what not considering a second hand car??

Secondly, before you can invest, you must save! Even just RM200 a month, I am happy to save regularly. I keep the money and when I have enough fund, I buy stocks, I buy property that give me long term gain if I hold to them. I even buy books to learn about investment!

Thirdly, spend your time wisely. I would prefer to attend a property/stock talk rather than sitting in front of TV watching AXN ' CSI' /' Leverage' or even 'Amazing Race'! Don't waste your time! Gain the knowledge and prepare yourself!

Fourthly, start small but dream BIG! Even only you only make RM1K this time, you can make RM10K, 100K or even RM10 million next time!

Lastly, yes, you must TAKE ACTION! It is pointless you are just dreaming and find out you wet your pant without taking any concrete and firm action!!

How to create Multiple Incomes?

How to Create Multiple Incomes?

As I told you before, the very best way to get rich is to duplicate yourself! You have 24 hours a day, Warren Buffet has 24 hours a day, Tan Sri Robert Kuok has 24 hours a day too, but why do they make more money than us?? The ONLY secret they have is they know the way to duplicate themselves and make 1000x or even 1000000x money every hour than you and me!

So the issue is how to duplicate yourself? I will try to give you a few ideas below,

1) Create a business model and open up branches nationwide or even worldwide- this is the way how Mcdonald's, Tesco, KFC make money. You can franchise your business too, look at Old Town Coffee house, Secret Recipe in local scence, they created the idea and they make money everyday just because of the idea without sweat and energy!

2) Hire people! Yes, you have 24 hours, if you hire 10 people, you will have 240 hours a day to make money! This is the classical way how a factory, a normal restaurant or big coperation makes money. The success depens greatly on your bussiness model!

3) Make your income-making machine self-automated! Yes, there are so many ways out there where you need only minimal time to monitor but still give you lucrative incomes- for example- internet business, stock market etc.

4) Force people to work for you- Yes, you are right! I mean literally 'forcing' people to work for you such as renting out your properties to people. They work hard to earn money and they pay money for YOU!

Hope to share with you more ideas to make money soon!

Formulas to be a Millionaire (II)

Formulas to be a Millionaire

There are legal ways to become a millionaire. I do not believe that "Behind every great fortune, there is a crime!". You can become a millionaire by legal and humble ways, follow my rules as below,

1) You must invest your money! Yes, no matter how tiny your money is, you have to invest to grow. Learn how to invest in various ways-stock,property,mutual funds or even yourself! Invest some money in yourself to learns ways to invest. Never entrust other people to invest for you, they will eventually take away your money!

2) Be persistent and consistent. Yes, money grows but not overnight. Find an investment vehicle and strategy and stick to it. Becoming rich overnight is a myth unless you 'kena' Toto or Magnum or some millionaires fall in love with you. There is not 'get rich fast' scheme in this World!

3) Have multiple streams of income! Yes, for you to have more money, the principle is easy, duplicate yourself and get multiple streams of income. I would talk more about this topic next time.

4) Never fall into scam! When everyone is greedy, be careful and pull back, when everyone is worried and running away, there might be the best time you jump in!

Yes, there is no short cut to heaven, and certainly there is no short cut to becoming rich as well!

Formulas to be Millionaires

Principles to be Millionaires

Yes, there are formulas to be a millionaire! As long as you follow these formula strictly, you will become a millionaire, it is just a matter of time. Trust me, these formulas are proven and just stick to them and you are on the right direction to be a millionaire in one day!

You might heard this, how much money you make depending on how many people you know, I dispute this! I would say, how much money you make depends on how many ways you know to make it! Having said that, when you get richer, it it quite natural you will know more people, I do not agree on 'know-who' way og getting rich but rather than' know-how' way of getting rich!

'Know-who' way of getting rich is a chronic illness that drags this country into corruption, making people of wanting to get rich fast and paving ways for our businessmen and politicians to gain access to easy money!

Believe me, there is no short cut to be a millionaire, I would talk about these formulas in my next post!

Assets and Liability

Assets and Liabilities

I love assets and I hate liabilities! How to define these two terms. Robert Kiyosaki has pretty easy definition- assets put money into your pocket and liabilities take money out of your pocket!

There is no item in this world which falls definitely into asset or liability category- why do I say that? Because it all depends!

Long time again, I used to believe that car is the biggest liability in our life until recently I met a young gentleman who turns car into an asset!

He buys cars not because he loves car but he is involved in car-renting out bussiness!

I also notice that Singapore has a few companies that involved in luxury-cars-renting bussiness. The business model is simple, since Singaporeans really concern most about their faces, they have to own a luxury car if possible,this company offers membership to its members- either platinum,gold and silver depending how much you pay every year.

Then depending on your membership status, you are given certain points per year. This huge company has various luxury cars in the world- you can spend points if you want to drive the car. One hour renting of Ferrari may require 10 points etc. So if you are the member, you not only can drive one type of luxury car but various typrs at various times! Sound impressive, right?

And certainly you can impress your girlfriend and co-workers to the roof!

How to save extra Two Hundred a month??

How to save extra Two Hundred a month??


" I can't save any extra cent a month!!" a lot of youngsters nowaday have the same feeling. We are being bombared everyday by politicians that our economy is booming," Our country economy is growing and our unemployment rate is the lowest for the past 50 years!". As a normal working adult in Malaysia or Singapore, we seem to be lost. We have the same question in mind, " Are our lives getting better and are we making more money??"






Inflation is killing us, the petrol price is at its historical high. We are seeing every daily household item price's creeping up. We can't breath and we have to say" ENOUGH is ENOUGH! SUDAH TAK BOLEH TAHAN LAGI!!"


In the era of high inflation, I think we have to cut cost, no matter what it takes, we HAVE to change our lifestyles!!


1) Cancel your subscription of anything! You mention it- newspaper, magazine, your extra TV channels..... etc. OR at least cut down your subscription. I pay for almost 70 channels in ASTRO but I never watched more than 10 channels. So cut, cut cut down your extra channels. You can save RM20-30 per month!!



2) If you like to frequent Coffee bean, Starbuck etc.It is time for you to think twice today. You only can find the most expensive coffee in the World in these outlets. Make your own coffee and you can save up to RM40 per month if you just spend 3 minutes every morning to make your own coffee/MILO!!



3) Petrol, Petrol , Petrol- Take public transport if you can! Although it is rather to recommned you this if you are from Malaysia because I must say that Public transport is a nightmare for many Malaysians. However, try car-pool or if you are living in Singapore, never drive your own car unless you have a S500k-car that you want to show off to your girlfriend just before proposing to her!



4) Entertainment- Youngters like to spend money. They want to buy game CD, DVD, Playstation, the latest NOKIA model etc. Just relax, no matter how latest your NOKIA phone is, it will be outdated in 2 months. Unless your father is the NOKIA CEO, it is a waste of money if you keep on changing your handphoen model!!


5) Credit card- Keep your credit card in your safe not becuase you are worried it will be stolen but it brings your more disaster if you put it in your wallet!!


Hope these tips help!!

Can you make your 10 dollars become 15 dollars??

Can you make your dollars become bigger??


I think everyone can feel the pressure of inflation nowaday. I do not quite believe what the Malaysian government's figure about inflation rate. It is always estimated about3-3.5%.


If you earn about RM4000-RM5000 a month and you have a lot of installments to make monthly, I think you bearly can survive with this salary.


I anticipate the inflation will be creeping up in coming months or even years to come due to higher global demands on commodities. I think this is mainly due to rapid growth of Chinese and Indian economies. The theory is simple, people in China and India are becoming more wealthy, they will buy more and they demand more. Due to inadequate supply, you will be seeing the inflation rate to be rocketing in these countries soon!


OK, for us in Malaysia and Singapore, you must make full use of every dollar you have, so how do we make our money become bigger and increase our purchasing power??



Rule 1 : Never buy using credits








Never buy your daily neccesities using credit card. Credit card is the monster of all evils. It will eat away your income. Imagine how much bank is making with 18% per annum in interest from your credit card.



Rule 2: Plan before you buy


Have a list before you go for shopping. You tend to buy more if you do not think before stepping into a shopping mall. Shopping malls have all kinds of ways to make you buy if you do not plan before you go!


Rule 3: Buy when there is discount




I once come across a shirt selling for only RM25 as compared to the usual price of RM75 when there is big sale. If you buy some brandy name like ' Adidas', ' Nike', ' U2' etc, no matter you buy it in January or a few months later ( although you think it may be out of fashion later), the most important thing is do not over spend and give your hard earned money to someone else!!

Your money belongs to you, you have to think twice before you spend it!!

Part Time Job and ' Harry Potter'

Yes, after not doing locum for the past 2 years, I did it again yesterday. Actually, I promised myself 2 years ago that I won’t trade my time again for money. I made a resolution 2 years ago that I will make some changes to my life but unfortunately I fail!!

I told you that you won’t get to any where if you continue the rat race to get money because there is no end to this journey. However, I had to do it again because I am facing the most difficult time in my life now, my wife has lost her job and I have become the sole bread winner of the family!

Actually, you may be surprised that you only get RM30-35 per hour doing locum in Malaysia. I earned RM70 yesterday after spending 2 hours in one of the clinic in Penang.

People like to do part time job to get extra income, I think it is the worst idea to get extra income sacrificing your time. I spent 1/3 of my time every day in the hospital, I come back home hoping to spend some family time with my baby and wife but I am worried too because you have to spend money wherever you go in Malaysia!! The standard of living in Malaysia is 'high' if compared to what you can get every month. Let’s look at how much a ' Harry Potter' book costs in Malaysia--------- RM69.90!! ( and you are lucky you can get this price because Tesco and Carrefour are offering this irresistible bargain, you may have to pay RM109.90 if you buy it in a normal book store!!), and look far south or east ( and west), Britons are getting this book with only 5 pounds!!



And look back in Malaysia how much a government doctor gets every month, RM3K+! Yes, three thousand Malaysian Ringgit or 500 pounds. If I work in UK, I will be happy to spend my 5 pounds to enjoy 'Harry Potter' which is only about 0.16% of my monthly salary ( if I am getting 3 thousand pounds) but in Malaysia, I have to spend 2.4% of my salary to get the special discount to enjoy ‘ Harry Potter’. Therefore, I always feel that Malaysians do not like to read not because they are not interested but simply because 'reading' is an expensive hobby in Malaysia!!

My First Baby!

My First Baby

Yes, I am a father now. My wife delivered our first baby in March 2007. I am so excited to have our first baby like most of you. However, things become more complicated to have a baby in Malaysia. You may be wondering the reason behind this. OK, let me explain this to you,


1) Child Insurance

The next day after my wife delivered the baby, you know who was the first one to call me the next hour. You are WRONG............! Not my mother or my in-laws, te person is no other than my insurance agent, she got one thousand and hundred policies to introduce to me. She told me her policy is the best in town and you can't afford to bring up your baby without this.

Frankly speaking, I hate, hate and hate agent- no matter they are property, insurance or anything. Can you imagine you pay them your hard earned money and they get the FREE tour to some exotic places that you do not even have money to go!! The worst thing is the insurance company pay thousands of dollars to have their faces appear in newspaper and still can't pay us higher return at the end of the day.

I tell you, I hate insurance company, and certainly insurance agent. You already feel the pressure after your first baby but they even give you even more pressure by telling you that you are not going to become a good father if you do not buy their policy.

I hate them!!!!

2) Child Education

I may tink that I am speaking foreign language here, to get a good tertiary education in Malaysia is difficult. I was lucky to study medicine in local university 10 years ago but if you read the paper after STPM ( Pre-university public examination in Malaysia) results are out, you are shock to find that even you get straight As in all subjects, you can't get the course you want to study in local university.

Therefore, insurnace agent comes to your house and tell you that for the best in education, my baby has to go to Australia, Canada, UK, Singapore and Us in 20 years time. The problem is do you know how much the fees like in 20 years time?? RM500K to one million provided your child does not want to become a doctor!! If you are unlucky to have an ambitious child, you may to ' cough out' ( may be with your blood together!!) RM3-4 million!!

Imagine how much a humble goverment servant can get a month?? RM 3000- 4000 per month. If I save all my money every month, I can only save RM720K after 20 years ( without spending a cent!)

Therefore, Malaysian government and some Chinese leaders in Malaysia always want to know the reason behind low birth rate among Chinese in Malaysia, the reason is simple, can you afford to have the second baby if you ccontinue to have this kind of salary!!

3) Child Healthcare Insurance

Yes, you are right, insurance again. Everything is about insurance in Malaysia, if you want to be rich here in Malaysia, you can either join politics or insurance company!! Although healthcare is free in Malaysia, you have to prepare to wait and travel! I have a patient who needs to travel to KL to get some treatments done because the service is not provided in Penang, you know what is the main problem the patient is having which makes him hesistnat to go to KL? He does not have the money to buy a bus ticket to KL!! ( You only need RM 22-25 or about US7-8 to travel from Penang to KL)

I want to bring up two issues here, a lot of services are not available in major towns in Malaysia due to severe 'brain drain' of public hospitals. The second issue here is there are a lot of very, very poor people ( you can hardly imagine the number) in this country. No matter how smart the goverment is!! ( by building the tallest building in the world , the most advanced F1 circuit or the largest court in Asia, you won't solve the problem of proverty if there is presence of favourism and discrimination)

Good luck to you, Malaysia! I love this country and I always feel that YOUwill have a better tomorrow for us and my baby.

10 Ways to Save More Money

10 Ways to Save More Money

I recently bumped into my high school friend. He is currently a very successful property developer in Malaysia and Singapore. We had a chat and he was asking me about my future plan. Actually, I was rather embrassed to tell him that I am still working very hard to get not my first million but rather my half million dollars. He told me that how much you get at the end of the day does not depend on how much you earn but rather than how much you save!

There are 10 quick ways for you to save more money!

1) Never spend on your 'expensive' drinks
I do not want to tell you the name. I was so amazed that people nowaday can spend 10 or even 20 dollars to drink a cup of coffee. Can you imagine how much you can save a month if you just live without all these expensive coffee and tea!

2) Never use your credit card
If you do not have so much money to spend , never have a idea that you will get away with 'spend-and-pay' later!

3) Pay your debt and save interest
Pay your debt with the highest interest rate!

4) Buy second hand thing
Don't you think it is a good idea to buy a second hand car? Let the first owner pays all the tax and you get the benefit to drive the car with only 2/3 or 1/2 of the usual price!

5) Stop smoking
If you can quit smoking, you gain health and save more money. Kill two birds with one stone!

6) Buy rather than rent if possible
Always you will have big commitment whenever you buy a house ( installment to pay everymonth), you can have good returns in long run! Do not waste your money paying your landlord everymonth!

7) Plan before you buy
Plan before your buy. Never go to a shopping mall without a list. You will end up buying unnecessary items!

8) Use fuel-saving vehicles
No point driving a 3L or 4.5L car on city road when it is illegal for you to speed more than 100 km/h. If you want to drive BIG car with HUGE horse power, join Formula 1, you will get money more than 100 times or even 1000 times your vehicle value if you win a race!

9) Stop buying lottery
Save than 1,2 dollar every month and give up your hope of becoming instant millioniare. You have a better chance to become a millionaire if you start saving money today rather than betting your money in casino or buying Magnum/Toto/Lottery

10) Rule number 10- remember that you take control of your money!