Chicken Little Mentality
Read about this in a book today ( 'The Millionaire Mindset' by Gerry Robert). What poisons our mind most is our mentality. We were always told that money is evil and we are not supposed to be rich.
You were probably told things like this:" Go and get a good education, study hard and once you get a good education with good grades, you'll go and get a good job in a good company and work hard and long and stay there for 25 years and get a pension for life!"
However, I see it this way: you get a chicken little education so you get some chicken little degree, so you can go and impress some chicken little companies and go to work for some chicken little boss so you can stay in that chicken little company getting little paycheck for 30 years, listening to some guy you hate your whole life so that at the end of 30 years you get some chicken little pension. That's not a life, that's chicken feed!
Friday, March 09, 2007
Friday, March 02, 2007
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!
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!
Friday, February 09, 2007
Warren Buffet and Investment Tips
Warren Buffet and Investment Tips
Find these tips interesting and useful and hope to share with all of you!
There was a one hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity.
Here are some very interesting aspects of his life:
1) He bought his first share at age 11 and he now regrets that he started too late !
2) He bought a small farm at age 14 with savings from delivering newspapers.
3) He still lives in the same small 3 bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4) He drives his own car everywhere and does not have a driver or security people around him.
5) He never travels by private jet, although he owns the world's largest private jet company.
6) His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
7) He has given his CEO's only two rules. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
8) He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
9) Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10) Warren Buffet does not carry a cell phone, nor has a computer on his desk.
11) His advice to young people: Stay away from credit cards and invest in yourself
Find these tips interesting and useful and hope to share with all of you!
There was a one hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity.
Here are some very interesting aspects of his life:
1) He bought his first share at age 11 and he now regrets that he started too late !
2) He bought a small farm at age 14 with savings from delivering newspapers.
3) He still lives in the same small 3 bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4) He drives his own car everywhere and does not have a driver or security people around him.
5) He never travels by private jet, although he owns the world's largest private jet company.
6) His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
7) He has given his CEO's only two rules. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
8) He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
9) Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10) Warren Buffet does not carry a cell phone, nor has a computer on his desk.
11) His advice to young people: Stay away from credit cards and invest in yourself
Wednesday, January 31, 2007
Right Attitudes To Become Rich
Right Attitudes To Become Rich
Have you ever imagined what will happen to you in the next 5 years if you keep on doing what you are doing right now? Do you think you are going to get better or worse? If you work hard everyday to get paid and you think you are going to work even harder in a few years to come, do you think you are going to achieve what you aim in life?
I have been thinking of this question for the past few months and I know that we were taught that job security is important in life, therefore, we studied hard during our school time and we went to college so that we can get a stable, well-paid job!
Have you ever thought that if we keep on doing what we have been doing for the past donkey's years, are our lives going to change?
Therefore, today I am going to tell a few shocking attitudes that rich people have,
1) Rich people take calculated risk and they prefer opportunity rather than security! They venture into anything that can make money although they have to lose their jobs!
2) Rich people believe that action speaks louder than words. They have ideas and they will apply their ideas into money making machine. They do not just talk, talk, and talk......... again, again and again.
3) Rich people like to make friends with all kinds of people because they know the truth that more people you know, more money you will make! They do not stay at home after work and sit in front of TV and spend 1/3 of their lives watching TV or playing computers! They go out and meet people!
4) Rich people accept suggestion and opinion. They know there is always a better choice to make money. They look for ideas and they will turn these ideas into bussiness opportunity!
5) Rich people never complain. They will not give one thousand and one reason why the ideas fail but look harder for better ideas. Poor people complain, complain and have 100 thousand reasons when they fail in anything in their lives!
Free Internet Lesson 2
Free Internet Lesson 2
If you have a website and you want to make money by joing Google Adsense, I certainly recommend you to read this ebbok. I am giving away free for you! Remember that most of the internet marketers start their online earning through Pay Per Click campaign.
Download the eBook (Google Adwords Made Easy) NOW by "right clicking" here and selecting "save target as" from the menu
If you have a website and you want to make money by joing Google Adsense, I certainly recommend you to read this ebbok. I am giving away free for you! Remember that most of the internet marketers start their online earning through Pay Per Click campaign.
Download the eBook (Google Adwords Made Easy) NOW by "right clicking" here and selecting "save target as" from the menu
Friday, January 19, 2007
8 Rules to Become a Millionaire!
8 Rules to become a millionaire
Remember that there is no short cut to become a millionaire, there is not quick scheme to get your first million if you do not follow these rules,
Remember that there is no short cut to become a millionaire, there is not quick scheme to get your first million if you do not follow these rules,
1) Start investing TODAY!
2) Set your target- write down what you want to achieve in life! Never just picture that in your mind, I strongly advise you to write down what you want in life on a piece of paper and read it EVERYDAY!
3) Buy shares and mutual funds, never think that you will get rich by putting your money in bank! If you put your money as fixed deposit, the bank will get rich and not YOU!
4) Never speculate, buy blue chips shares. Never expect to get 100% returns in months, always think of long term investment!
5) Invest EVERYMONTH, has an outlined plan, invest consistently!
6) Hold your shares and never buy and sell and hope to get good returns. Studies show that millionaire investors usually hold their shares more than 5 years!
7) Plan your tax and estate properly, it is useless if your money and estate die together with you!
8) Be consistent in everything you do in life!
Hope these tips help you! Be patient, your hard work will pay off soon!
Sunday, January 14, 2007
Rat Race and FinanciaL Freedom!
Rat Race and Financial Freedom
What is 'rat race'? Why there are so many people talking about 'rat race' today? If you read about any book talking about financial freedom and wealth, you certainly know about this term ‘rat race’!
So.........,what exactly is the rat race?
Well, we all believe that or we are made to believe that good education ensures you to have good work later in life. A good( well-paid) work ( such as doctor, lawyer, engineer) ensures you a bright future. I was told that I must study hard to get a good-pay job to be successful in life. So, I worked very hard during my school times, I scored perfect scores for almost all subjects in public examinations and I entered university to study medicine,I graduated as a doctor. I worked very hard every day, hoping that I will get what I want in life, but later I realized that no matter how hard I tried, I was not getting anyway in life. I am trading my hours every day to get paid! If I stop working for a month or less, I will lose almost everything!
Imagine how different your life could be if you had both the financial freedom and the time to take your holidays wherever you want, when you want and for as long as you want.
Although you may be earning thousand a dollar an hour, can you quit your job right now and still get one thousand an hour?
Even though working as a doctor pays me well every month ( not so well here in Malaysia although compared to most of the countries in the World), I am still earning better than average, but I still had a felling that this is not what I want out of life ... there is more to life than just going home to work then work to home day after day after day! Are you sure that you will be getting what you get right now if you fall sick one day!
Yes…..You are right. I AM STILL A RAT! I run everyday because I have to find foods. I still have to spend time looking high and low for foods! I AM TRADING MY LIFE TO GET MONEY AND INCOME!
If you do not what to repeat my mistake, find a way to free yourself from this ‘rat race’!
What is 'rat race'? Why there are so many people talking about 'rat race' today? If you read about any book talking about financial freedom and wealth, you certainly know about this term ‘rat race’!
So.........,what exactly is the rat race?
Well, we all believe that or we are made to believe that good education ensures you to have good work later in life. A good( well-paid) work ( such as doctor, lawyer, engineer) ensures you a bright future. I was told that I must study hard to get a good-pay job to be successful in life. So, I worked very hard during my school times, I scored perfect scores for almost all subjects in public examinations and I entered university to study medicine,I graduated as a doctor. I worked very hard every day, hoping that I will get what I want in life, but later I realized that no matter how hard I tried, I was not getting anyway in life. I am trading my hours every day to get paid! If I stop working for a month or less, I will lose almost everything!
Imagine how different your life could be if you had both the financial freedom and the time to take your holidays wherever you want, when you want and for as long as you want.
Although you may be earning thousand a dollar an hour, can you quit your job right now and still get one thousand an hour?
Even though working as a doctor pays me well every month ( not so well here in Malaysia although compared to most of the countries in the World), I am still earning better than average, but I still had a felling that this is not what I want out of life ... there is more to life than just going home to work then work to home day after day after day! Are you sure that you will be getting what you get right now if you fall sick one day!
Yes…..You are right. I AM STILL A RAT! I run everyday because I have to find foods. I still have to spend time looking high and low for foods! I AM TRADING MY LIFE TO GET MONEY AND INCOME!
If you do not what to repeat my mistake, find a way to free yourself from this ‘rat race’!
Sunday, December 31, 2006
HAPPY NEW YEAR 2007!!
HAPPY NEW YEAR 2007!!
HAPPY NEW YEAR and I hope that 2007 will be a wonderful year for everyone!
Today I am going to tell you a wonderful site which might turn to be next Youtube.com or Myspace.com but the difference is you can own that company?!
I want to introduce to you about AGLOCO. Do you realise how valuable we are?Advertisers, search providers, and online retailers are paying billions to reach you while you surf. Howmuch of that money are you getting? Zilt, so far that is........ZERO!
I hope we all can build up a community and get some money while surfing the internet!
Here is why I would like you to consider joining:
1. AGLOCO pays you, as an Internet user, your fair share of the value created while you surf.
2. The AGLOCO's free software puts you in control of what arrives on your screen and what data you allow outsiders to collect.
3. AGLOCO is a 100% Member owned company which rewards the Members who help build the company. It never costs anything to be a Member AGLOCO is only four weeks old and it has already signed up tens of thousands of Members and has created enormous Internet 'buzz' (over 700,000 pages in Google's search talk about AGLOCO).
HAPPY NEW YEAR and I hope that 2007 will be a wonderful year for everyone!
Today I am going to tell you a wonderful site which might turn to be next Youtube.com or Myspace.com but the difference is you can own that company?!
I want to introduce to you about AGLOCO. Do you realise how valuable we are?Advertisers, search providers, and online retailers are paying billions to reach you while you surf. Howmuch of that money are you getting? Zilt, so far that is........ZERO!
I hope we all can build up a community and get some money while surfing the internet!
Here is why I would like you to consider joining:
1. AGLOCO pays you, as an Internet user, your fair share of the value created while you surf.
2. The AGLOCO's free software puts you in control of what arrives on your screen and what data you allow outsiders to collect.
3. AGLOCO is a 100% Member owned company which rewards the Members who help build the company. It never costs anything to be a Member AGLOCO is only four weeks old and it has already signed up tens of thousands of Members and has created enormous Internet 'buzz' (over 700,000 pages in Google's search talk about AGLOCO).
AGLOCO is not a 'get rich' quick scheme. Every additional Member raises the value of all the Members, so we all get more if you join.
It is free to join and Membership never costs anything. Click here to read more and sign up now. CLICK NOW TO JOIN!
Thanks
Thursday, December 21, 2006
Best Stocks to Invest in Europe
Best Stocks in Europe in 2007
Recently found out from Fortune the six best stocks to watch out in Europe in 2007.
These stocks are,
1) British Petroleum
2) Rio Tinto
3) Credit Suisse
4) Banco Santander
5) Veolia
6) Philips
Watch out and hope you have a prosperous year ahead!
Tuesday, December 12, 2006
Make money with Google Adsense
Make Money With Google Adsense
Today I am going to discuss a bit about the most popular way to make money online. I think this is the easiest way if you do not have any product to sell or promote. Yes, I am talking about Pay Per Click (PPC). If you have a blog/website with rich content, I would suggest you to apply a Google Adsense account and start earning right away.
If you are new to Google Adsense, you may notice that there are a lot of websites out there with Google advertisement. You may notice small banners in a website with relevant keywords and small description about other websites, as the website owner, you are being paid if your website visitors click on this advertisement.
To maximize your Google Adsense revenue, you must remember three important points when you want to put Google advertisement in your site,
1) Visitors- more visitors means more revenue, although a lot of website gurus told you that you do not need great numbers of visitors to generate big income as long as your CTR ( click through rate) is high, I personally still think that to make BIG money, you need visitors, visitors and VISITORS!!
2) Keywords- some keywords have a bid value of US4 or even up to US10 per click. Always try to write content with high paying keywords . No point to have 10 clicks of a keyword that only pay your US0.05 if you can have 0ne click of US10 keyword!
3) Content- Content, content and content. To keep you visitors come back to your site, your site content is the key factor!
Today I am going to discuss a bit about the most popular way to make money online. I think this is the easiest way if you do not have any product to sell or promote. Yes, I am talking about Pay Per Click (PPC). If you have a blog/website with rich content, I would suggest you to apply a Google Adsense account and start earning right away.
If you are new to Google Adsense, you may notice that there are a lot of websites out there with Google advertisement. You may notice small banners in a website with relevant keywords and small description about other websites, as the website owner, you are being paid if your website visitors click on this advertisement.
To maximize your Google Adsense revenue, you must remember three important points when you want to put Google advertisement in your site,
1) Visitors- more visitors means more revenue, although a lot of website gurus told you that you do not need great numbers of visitors to generate big income as long as your CTR ( click through rate) is high, I personally still think that to make BIG money, you need visitors, visitors and VISITORS!!
2) Keywords- some keywords have a bid value of US4 or even up to US10 per click. Always try to write content with high paying keywords . No point to have 10 clicks of a keyword that only pay your US0.05 if you can have 0ne click of US10 keyword!
3) Content- Content, content and content. To keep you visitors come back to your site, your site content is the key factor!
Thursday, November 09, 2006
Making Money Online!
Making Money Online- You Can Too!
Recently I discovered a website which offer the best lesson on earth how you can make money fast via internet. You can get an extraordinary income even though you are an ordinary people like me. Certainly I hope you too can make some money like me via internet!
Note, the site ( SUPERWEBSECRETS) comes with a 60 day money back guarantee. The best part is you do not need to have any knowledge in HTML and certainly you do not need to have any product to sell. Take a look and click the links Now.
YES, I WANT TO DOWNLOAD THIS PROGRAM NOW!!
You maybe spending a few dollars per week watching movies or bet these money in lottery hoping to get great fortune. I would rather advise you to spend some money to learn how people make money from internet and you can get your money back if the system does not work for you.The risk is certainly lower than your lottery bussiness!You should give this system a try if you are not happy with what you are earning right now. It is an easy system and you can generate your income passively!
Recently I discovered a website which offer the best lesson on earth how you can make money fast via internet. You can get an extraordinary income even though you are an ordinary people like me. Certainly I hope you too can make some money like me via internet!
Note, the site ( SUPERWEBSECRETS) comes with a 60 day money back guarantee. The best part is you do not need to have any knowledge in HTML and certainly you do not need to have any product to sell. Take a look and click the links Now.
YES, I WANT TO DOWNLOAD THIS PROGRAM NOW!!
You maybe spending a few dollars per week watching movies or bet these money in lottery hoping to get great fortune. I would rather advise you to spend some money to learn how people make money from internet and you can get your money back if the system does not work for you.The risk is certainly lower than your lottery bussiness!You should give this system a try if you are not happy with what you are earning right now. It is an easy system and you can generate your income passively!
Just try this out,
DOWNLOAD YOUR COPY NOW!
Hope you enjoy this program and happy money making!
Friday, November 03, 2006
Free Internet Lesson 1
Free Internet Lesson 1
For those who want to make a fortune in the internet. I think the ebook I want to introduce here is a good start. This ebook "Google Adwords Made Easy" is by Brad Callen. Brad Callen makes thousands of dollars every month via his internet bussiness. I hope to give you this ebook absolutely FREE!
Download the eBook (Google Adwords Made Easy) NOW by "right clicking" here and selecting "save target as" from the menu
Hope you enjoy this ebook!
For those who want to make a fortune in the internet. I think the ebook I want to introduce here is a good start. This ebook "Google Adwords Made Easy" is by Brad Callen. Brad Callen makes thousands of dollars every month via his internet bussiness. I hope to give you this ebook absolutely FREE!
Download the eBook (Google Adwords Made Easy) NOW by "right clicking" here and selecting "save target as" from the menu
Hope you enjoy this ebook!
Thursday, November 02, 2006
Conclusion
Lesson 14: Investment Tips Conclusion
From all my previous lessons, I think you know that I was trying very hard to tell you a few important points.
1) There is no what people might tell you the best investment vehicle in the world. I think you must learn how to invest by educating yourself. No people will invest for you and earn money for you without a 'price'!
2) Always avoid 'the habit' of buying items via credits. Never overuse your credit card and never build up your bad loans. (use loans to buy items that would depreciate in future!)
3) Pay yourself first every month. Invest at least 10% of your salary. Keep aside money as an emergency fund. ( 3-6 months of your salary)
4) Invest your time and money to build a business because majority of millionaires become wealthy because of business. However, if you want to get your first million fast, you either can inherit ( from your father or even father-in-law if you are lucky), win( from your lottery) or make it ( this might take years and years!)
5) Leverage your time and money so that your time and money will work harder for you! Never sell your time to get money in return because no matter how hard you try, you only have 24 hours a day, 672 hours a month and 8760 hours a year!
6) Diversify your investment if possible depending on your age , risk tolerance and of course your financial goal. And remember also, if possible, diversify your income also!
7) It is better for you to save now and enjoy later rather than spend now and suffer later!
8) Always have a proper plan how to achieve your financial goal. Revise your plan every year!
9) Intellectual property is the best property you can have. You might even have to spend a cent creating it and you can sell your ideas for millions!
10) AND OF COURSE IT IS NEVER TOO LATE TO INVEST!!
Hope you find my articles useful and email me if you have suggestions to make!
From all my previous lessons, I think you know that I was trying very hard to tell you a few important points.
1) There is no what people might tell you the best investment vehicle in the world. I think you must learn how to invest by educating yourself. No people will invest for you and earn money for you without a 'price'!
2) Always avoid 'the habit' of buying items via credits. Never overuse your credit card and never build up your bad loans. (use loans to buy items that would depreciate in future!)
3) Pay yourself first every month. Invest at least 10% of your salary. Keep aside money as an emergency fund. ( 3-6 months of your salary)
4) Invest your time and money to build a business because majority of millionaires become wealthy because of business. However, if you want to get your first million fast, you either can inherit ( from your father or even father-in-law if you are lucky), win( from your lottery) or make it ( this might take years and years!)
5) Leverage your time and money so that your time and money will work harder for you! Never sell your time to get money in return because no matter how hard you try, you only have 24 hours a day, 672 hours a month and 8760 hours a year!
6) Diversify your investment if possible depending on your age , risk tolerance and of course your financial goal. And remember also, if possible, diversify your income also!
7) It is better for you to save now and enjoy later rather than spend now and suffer later!
8) Always have a proper plan how to achieve your financial goal. Revise your plan every year!
9) Intellectual property is the best property you can have. You might even have to spend a cent creating it and you can sell your ideas for millions!
10) AND OF COURSE IT IS NEVER TOO LATE TO INVEST!!
Hope you find my articles useful and email me if you have suggestions to make!
Monday, October 23, 2006
Retirement Planning
Retirement planning
Everyone is talking about financial freedom. A lot of people tell you when you retire, you will be a free man and do whatever you want. A lot of us dream of traveling around the World when we retire then. We hope to do whatever we want when we retire and never worry about money again.
The question is ' Can we retire rich and be financially free?' Although it is hard to believe , I would say it loud and clear, 'It is a 80-90 percent chance that you are going to retire and broke! '
Yes, listen me one more time, you are likely to retire in 10 or even 30 years time without having enough money in your assets to maintain your golden years! See around you and you would see that people who are more than 60 or even 70 years old still working, not because they enjoy their works but simply because they have to work to survive.
Although your retirement is 20 or even 30 years from now, you have to start planning now. They key to a comfortable retirement is being able to maintain the lifestyle to which you are accustomed as wee as having the option to do more. The principles for a planned retirement are easy,
1) Start your saving as early as possible, the earlier you start saving, the harder your money can work towards your retirement.
2) Find a combination of investment vehicles so that you diversify your investment to minimize your risk.
3) Have a separate planning for your children education so that you can concentrate your time and money in your retirement planning.
4) Find extra source of income so that you can invest more money for your retirement.
5) Buy insurance to cover for certain emergencies such as medical bills, fire, personal accident to prevent all these events eat away your money.
6) Have a proper estate planning so that if anything happens to you, your loved ones can inherit your assets without hassles.
Retirement is fun provided you plan it properly and have enough fund to sustain your lifestyle!
Everyone is talking about financial freedom. A lot of people tell you when you retire, you will be a free man and do whatever you want. A lot of us dream of traveling around the World when we retire then. We hope to do whatever we want when we retire and never worry about money again.
The question is ' Can we retire rich and be financially free?' Although it is hard to believe , I would say it loud and clear, 'It is a 80-90 percent chance that you are going to retire and broke! '
Yes, listen me one more time, you are likely to retire in 10 or even 30 years time without having enough money in your assets to maintain your golden years! See around you and you would see that people who are more than 60 or even 70 years old still working, not because they enjoy their works but simply because they have to work to survive.
Although your retirement is 20 or even 30 years from now, you have to start planning now. They key to a comfortable retirement is being able to maintain the lifestyle to which you are accustomed as wee as having the option to do more. The principles for a planned retirement are easy,
1) Start your saving as early as possible, the earlier you start saving, the harder your money can work towards your retirement.
2) Find a combination of investment vehicles so that you diversify your investment to minimize your risk.
3) Have a separate planning for your children education so that you can concentrate your time and money in your retirement planning.
4) Find extra source of income so that you can invest more money for your retirement.
5) Buy insurance to cover for certain emergencies such as medical bills, fire, personal accident to prevent all these events eat away your money.
6) Have a proper estate planning so that if anything happens to you, your loved ones can inherit your assets without hassles.
Retirement is fun provided you plan it properly and have enough fund to sustain your lifestyle!
Friday, October 20, 2006
Intellectual Property
Lesson 13: Intellectual Property and Business
I talked about various methods of investing your money and time in my previous posts. The reason for you to invest is simple, you want to beat the market and you want to retire rich and young. However, from my previous posts, we know that all types of investment carry some risks. You need to put in your hard earned money and time to get a return and if you are lucky, you are rewarded with some returns but you may burn half or even all your money.
Today I am going to tell you a way where you can get money by spending a small amount of money but the drawback is you have to spend more time. Yes, I am talking about creating/ modifying a new item/idea. A lot of my readers emailed that it is easier said than done, ‘You mean new invention?’ For a lot of people, inventing is a big achievement and most of us think that we are incapable of doing this.
I talked about various methods of investing your money and time in my previous posts. The reason for you to invest is simple, you want to beat the market and you want to retire rich and young. However, from my previous posts, we know that all types of investment carry some risks. You need to put in your hard earned money and time to get a return and if you are lucky, you are rewarded with some returns but you may burn half or even all your money.
Today I am going to tell you a way where you can get money by spending a small amount of money but the drawback is you have to spend more time. Yes, I am talking about creating/ modifying a new item/idea. A lot of my readers emailed that it is easier said than done, ‘You mean new invention?’ For a lot of people, inventing is a big achievement and most of us think that we are incapable of doing this.
I am not talking about big invention, you can sell your new ideas and make big money from that. Try to look around and think about how to make this world a better place. People are modifying the function of a hand-phone and add in radio, camera, video recorder ( all these technologies are old technologies) functions to boost the sales. Nokia , Samsung, Motorola are making billions of dollars every year by modifying their phone models with add-in functions. If you are creative, write a book and a song which can get you billions of dollars if they become the best sellers.
I always believe that intellectual property is the best investment in your life. I never ask you to do basic sciences research. Modify someone’s idea and apply these ideas.
From the 10th World Wealth Report, we learn that, majority of High Net-worth Individuals become wealthy due to their business. You can invest your money in business, however, always start a business that you are familiar with. If you are a practicing physician, of course you want to start a clinic, always start a business that is easy for you but is difficult for others.
Friday, October 13, 2006
10th World Wealth Report
10th World Wealth Report 2006
I recently read an interesting report by Merrill Lynch And Capgemini. This report gives us some insights about high net worth individuals (HNWIs). HNIWs is people with net financial assets of at least US$1 million, excluding their primary residence and consumables. There are a few important salient points about the report,
1) The HNWI population grew most dramatically in Asia than any part of the World. The growth of HNWI population in South Korea is 21.3 percent; India rising 19.3 percent; Russia, where it rose 17.4 percent, and South Africa, where it grew by 15.9 percent. (As compared to US’s figure of 8.8% and UK’s figure of 7.3%) In addition, three of the four BRIC nations (Brazil, Russia and India) are among the top 10 fastest growing HNWI populations.
2) We learned from this report that the commonest way for millionaires to become wealthy is through business ownership and the sale of a business (37%), incomes( 24%), inheritance (18%), investment(10%), stock options (9%) and other(2%).
3) HNWI s’ investments in North America and Europe will continue to decline and more funds will be reallocated to Asia Pacific and other emerging markets.
4) Most HNWIs tend to invest their money in equities (30%), fixed income (21%), cash and deposits (13%), real estate (16%) a, alternative investment ( 20%)
Hope you find this piece of information is useful and start invest and safe your money like a millionaire!
I recently read an interesting report by Merrill Lynch And Capgemini. This report gives us some insights about high net worth individuals (HNWIs). HNIWs is people with net financial assets of at least US$1 million, excluding their primary residence and consumables. There are a few important salient points about the report,
1) The HNWI population grew most dramatically in Asia than any part of the World. The growth of HNWI population in South Korea is 21.3 percent; India rising 19.3 percent; Russia, where it rose 17.4 percent, and South Africa, where it grew by 15.9 percent. (As compared to US’s figure of 8.8% and UK’s figure of 7.3%) In addition, three of the four BRIC nations (Brazil, Russia and India) are among the top 10 fastest growing HNWI populations.
2) We learned from this report that the commonest way for millionaires to become wealthy is through business ownership and the sale of a business (37%), incomes( 24%), inheritance (18%), investment(10%), stock options (9%) and other(2%).
3) HNWI s’ investments in North America and Europe will continue to decline and more funds will be reallocated to Asia Pacific and other emerging markets.
4) Most HNWIs tend to invest their money in equities (30%), fixed income (21%), cash and deposits (13%), real estate (16%) a, alternative investment ( 20%)
Hope you find this piece of information is useful and start invest and safe your money like a millionaire!
Sunday, October 08, 2006
eBay Millionaire?
10 steps to sell successfully on eBay
I heard many success stories about people making millions of dollars by selling on eBay. It is estimated there are about 600 thousand full-time sellers around the world who make smart money every month by selling on eBay.
I have been struggling for many months to sell my first item through eBay. I find that there are a few important strategies you must always bear in mind before selling your first item on eBay,
1) Choose the right time to auction your item. Usually, eBay will take about 1 week before approving your item. Therefore, it is advisable for you to upload your item to the net on Friday/Saturday. Internet surfers will be able to see your items only the following Friday/Saturday. More people surf the internet during weekends!
2) Buy before you sell. You must try to buy something from eBay before you learn how to sell on eBay.
3) Sell something you know best. Always sell something you are passionate about because you know these items best and you can write good description about these items.
4) Do not throw your old stuffs. Make use of every old stuff at home. You may want to throw away your old clothes, old books etc. Give it a try, sell these items on eBay, you may be surprised how much you can get form these used items.
5) Give a good description about your item, try to attract your prospective buyers at the first sentence of your description.
6) Photo, photo and photo. A good photo is better than a thousand words. Take a few photos and choose the best!
7) Sell a few items at the same time. This will make you like a ‘professional’ seller.
8) If possible, capture international market as well besides local market!
9) Sell hot items that most people are interested. These include electronic items, clothes and collectibles.
10) Try and try again. Never give up!
I heard many success stories about people making millions of dollars by selling on eBay. It is estimated there are about 600 thousand full-time sellers around the world who make smart money every month by selling on eBay.
I have been struggling for many months to sell my first item through eBay. I find that there are a few important strategies you must always bear in mind before selling your first item on eBay,
1) Choose the right time to auction your item. Usually, eBay will take about 1 week before approving your item. Therefore, it is advisable for you to upload your item to the net on Friday/Saturday. Internet surfers will be able to see your items only the following Friday/Saturday. More people surf the internet during weekends!
2) Buy before you sell. You must try to buy something from eBay before you learn how to sell on eBay.
3) Sell something you know best. Always sell something you are passionate about because you know these items best and you can write good description about these items.
4) Do not throw your old stuffs. Make use of every old stuff at home. You may want to throw away your old clothes, old books etc. Give it a try, sell these items on eBay, you may be surprised how much you can get form these used items.
5) Give a good description about your item, try to attract your prospective buyers at the first sentence of your description.
6) Photo, photo and photo. A good photo is better than a thousand words. Take a few photos and choose the best!
7) Sell a few items at the same time. This will make you like a ‘professional’ seller.
8) If possible, capture international market as well besides local market!
9) Sell hot items that most people are interested. These include electronic items, clothes and collectibles.
10) Try and try again. Never give up!
Thursday, October 05, 2006
What is leverage?
What is leverage? ( In order to make more money!)
In order to retire young and rich, you must make a lot of money in a very short time. If you are thinking of earning that money by using your own time and effort, I would say that it is unlikely for you to achieve that in 5 or even 10 years.
Each of us has 24 hours. How much do you earn per hour, let's say you earn 30 bucks per hour, how many hours you can work per day? Let's imagine that you work very hard and you extend your working hour to 12 hours a day. You earn 360 bucks per day ( yes, it is a very good money for almost all of us!), do you know how long for you to get 1 million, the answer is 2778 days or 7.6 years. This is provided you keep every cent your earn from your work. So do you think it is possible if you earn money by only both your hands and the limited time you have in a day. The answer is 'NO, NO,NO'!!
I would like to talk about leverage. To make it simple, it is a technique where you use minimal effort to achieve the greatest result. I would say there are two major leverage techniques to make your money grow. As you see from above scenario, the total money you get per day equals to your hourly wages times how many hours you work per day,
In order to retire young and rich, you must make a lot of money in a very short time. If you are thinking of earning that money by using your own time and effort, I would say that it is unlikely for you to achieve that in 5 or even 10 years.
Each of us has 24 hours. How much do you earn per hour, let's say you earn 30 bucks per hour, how many hours you can work per day? Let's imagine that you work very hard and you extend your working hour to 12 hours a day. You earn 360 bucks per day ( yes, it is a very good money for almost all of us!), do you know how long for you to get 1 million, the answer is 2778 days or 7.6 years. This is provided you keep every cent your earn from your work. So do you think it is possible if you earn money by only both your hands and the limited time you have in a day. The answer is 'NO, NO,NO'!!
I would like to talk about leverage. To make it simple, it is a technique where you use minimal effort to achieve the greatest result. I would say there are two major leverage techniques to make your money grow. As you see from above scenario, the total money you get per day equals to your hourly wages times how many hours you work per day,
Daily wages= Hourly wages x working hours
For you to increase your working hour from 12 to 14 or even 16 hours is impossible because we need to have time to sleep, eat and spend time with our family. Therefore, since that we only have 24 hours per day, we can't increase our daily wages by pushing up our working hours, however, there is one technique we can do it.
You may be wandering how can we do it? Just look around you, what do you see around you? You are seeing fast food restaurants mushrooming every corner in your city. Yes, you are right , the answer to the above question is you have to duplicate yourself. Instead of forcing yourself to work for yourself, duplicate yourself so that more people would make money for you!
So…… you maybe wandering how to duplicate yourself........?? It is easy, if you have a restaurant and you earn so much a day, duplicate your restaurant so that you can have more restaurants to get more money. You do not use your money, you can franchise your business. If you are getting commissions from selling property, set up a company and you hire more agents (agents like yourself) to sell property for you and you get the commissions. If you are doing direct selling business, get more people to join you and sell your products for you and get more commissions for that!
Do you see the point? It is better to have 10 same people making 30 dollars for you instead of you yourself have to work 10-12 hours to get that same money?
Anyway for you to leverage your effort is leverage your money. From the above formula,
Daily wages= Hourly wages x working hours
OK, for you get more hourly wages, there are a few possible ways to do this,
1) Get a better pay job,
2) Get a job where you can do two jobs together at the same time and you will be paid by doing these two jobs simultaneously, ( a good example of this, if you are involved in internet business, build a site where you can promote 2 or even 10 products together and you are being paid from all these products)
3) Make you money grows by itself, yes, since that you are getting a fixed hourly wages, you can put your hard earned money in some investment vehicles and see your money grows by itself.
4) Pull money from your friends, relatives so that you can start a joint venture that gives you a better hourly wages such as starting a new business etc.....
So, the key to make you money grows doest not depend on how hard you work. It all depends on how you leverage your money and time!
Friday, September 29, 2006
Multilevel Marketing
Lesson 12: Multi-level Marketing
Today I am going to share with you another popular way for you to get more money and hopefully retire young. As I said before, there are a lot of ways for you to invest your money and time, these investment vehicles include property, stock market, mutual funds, online marketing........ I am going to talk about multi-level marketing today. You certainly know the big names in this business such as Amway, Nu-Skin......etc.
I used to be like most of you, tired of daily work and having difficulty to breath at the end of every month because there are tones of bills to pay! I am disappointed with my pay and I have problems settling my credit card bills, phone bill, home loan.....etc every month. I am searching all available ways to improve my income.
I met one of old high school friends when I came back from UK after my MRCP examination and he told me that he has found a way to double or even triple his incomes with only half his effort. I was so excited at that time because I almost spent all my saving after my MRCP PACES in UK. I have no ideas at all at that time what kind of business he was talking about but he seemed doing pretty well with a few offices in Indonesia, Hong Kong and China.
' I desperately needed money at that time!'
My friend invited me to one of his company meetings and only at that time, I learned about MLM ( Multi-level Marketing). The idea of MLM is quite simple. You help a company to sell products , you earn commissions based on your sales of products or service provided by your parent company. However, the business becomes more lucrative if you bring more people to join you because the more your downstream members sell, the more you would get as commissions! So the philosophy of this business is simple and attractive, you should not aim to sell products, you can get more if you train people to sell products for you! I was totally amused by this idea!
Today I am going to share with you another popular way for you to get more money and hopefully retire young. As I said before, there are a lot of ways for you to invest your money and time, these investment vehicles include property, stock market, mutual funds, online marketing........ I am going to talk about multi-level marketing today. You certainly know the big names in this business such as Amway, Nu-Skin......etc.
I used to be like most of you, tired of daily work and having difficulty to breath at the end of every month because there are tones of bills to pay! I am disappointed with my pay and I have problems settling my credit card bills, phone bill, home loan.....etc every month. I am searching all available ways to improve my income.
I met one of old high school friends when I came back from UK after my MRCP examination and he told me that he has found a way to double or even triple his incomes with only half his effort. I was so excited at that time because I almost spent all my saving after my MRCP PACES in UK. I have no ideas at all at that time what kind of business he was talking about but he seemed doing pretty well with a few offices in Indonesia, Hong Kong and China.
' I desperately needed money at that time!'My friend invited me to one of his company meetings and only at that time, I learned about MLM ( Multi-level Marketing). The idea of MLM is quite simple. You help a company to sell products , you earn commissions based on your sales of products or service provided by your parent company. However, the business becomes more lucrative if you bring more people to join you because the more your downstream members sell, the more you would get as commissions! So the philosophy of this business is simple and attractive, you should not aim to sell products, you can get more if you train people to sell products for you! I was totally amused by this idea!
The idea is simple-' More people under you, more money you would get!'
Imagine that you can recruit 10 people under you, if you train them well and all these 10 members work hard and each of them recruit another 10 members for you, there will be 110 members under you!! Imagine further if all of them make an US10 profit for you every month, you will be getting US1100 per month by doing nothing! ( This is what we call passive income and all of us are dreaming for that!)
The business idea is certainly fantastic and I worked very hard to get members under me. However, it did not take long time for me to realize the following,
1) If you are not the kind of person that likes to talk and promote products, it is a though business to venture into!
2) Certainly the earlier you join the business, the better. Why? Because I notice that when I approach my friends, half of them already joined the business and I couldn't find any new members.
3) In order for you to be at the top of the pyramid, actually, you are stepping on many others under you to get the money. Therefore, there are 100 or even 1000 times more losers than winners in this business!
4) And the worst thing is the winner is always the parent company and not you!
Therefore, I am thinking if I work hard for that company, why not myself starts a business and recruit people to help me to sell products and I pay them commissions?
I always believe that in order for you to earn your money faster with only half your effort, you must leverage your time and money. I would talk more about this in my future posts. I think if you would like to join Multi level marketing, why not try to set up a company/business and franchise to others and make money from that!
Think twice before you join them because you might not climb up the ladder. And the worst part, you are always the one who is under somebody and make money for others. (Therefore, it is no different from what you and me are doing right now as a worker!)
I think I might not be able to cover all my investment tips in 12 lessons, so I would give you another 2 lessons entitled 'Business and Intellectual Property' and 'Conclusion'!
Tuesday, September 26, 2006
Big Mac Index
Big Mac Index-Which City Makes Most Money?
Recently there is an interesting report published by UBS, the Swiss bank. The Big Mac index was used again to compare the purchasing power of workers from various cities around the world. The purchasing power ranking of cities was based on the number of minutes of work required to buy a Big Mac, the ranking is as follow,
Tokyo 10 minutes of work
Los Angeles 11 Chicago 12
Miami 12 New York 13
Auckland, New Zealand 14
Sydney, Australia 14
Toronto 14
Dublin, Ireland 15
Zurich, Switzerland 15
Frankfurt, Germany 16
Geneva 16
London 16
Vienna, Austria 16
Berlin 17
Hong Kong 17
Luxembourg 17
Montreal 17
Munich, Germany 17
Copenhagen, Denmark 18
Oslo, Norway 18
Amsterdam, Netherlands 19
Helsinki, Finland 19
Madrid, Switzerland 19
Nicosia, Cyprus 19
Brussels, Belgium 20
Milan, Italy 20
Taipei, Taiwan 20
Barcelona, Spain 21
Paris 21
Stockholm, Sweden 21
Singapore 22
Lyon, France 24
Manama, Bahrain 24
Dubai, United Arab Emirates 25
Moscow 25
Rome 25
Athens, Greece 26
Riga, Latvia 28
Seoul, South Korea 29
Johannesburg, South Africa 30
Lisbon, Portugal 32
Kuala Lumpur, Malaysia 33
Ljubljana, Slovenia 35
ao Paulo, Brazil 38
Shanghai, China 38
Prague, Czech Republic 39
Tallinn, Estonia 39
Warsaw, Poland 43
Vilnius, Lithuania 43
Beijing 44
Budapest, Hungary 48
Istanbul, Turkey 48
Rio de Janeiro, Brazil 53
Bratislava, Slovakia 55
Santiago, Chile 56
Kiev, Ukraine 55
Buenos Aires, Argentina 56
New Delhi 59
Bangkok, Thailand 67
Bucharest, Romania 69
Sofia, Bulgaria 69
Bombay, India 70
Manila, Philippines 81
Mexico City 82
Caracas, Venezuela 85
Jakarta, Indonesia 86
Lima, Peru 86
Nairobi, Kenya 91
Bogota, Colombia 97
Tokyo seems to be city where you can earn your money the fastest. It is quite interesting to notice that Tokyo is the only Asian city ranks in the top ten list. The second Asian city where you can make money fast is Hong Kong. And again Kuala Lumpur, is far behind other Asian cities such as Seoul, Singapore, Taipei and even Moscow! And the United States is still the country with most cities where you can buy your Big Mac by working less than 15 minutes!
Recently there is an interesting report published by UBS, the Swiss bank. The Big Mac index was used again to compare the purchasing power of workers from various cities around the world. The purchasing power ranking of cities was based on the number of minutes of work required to buy a Big Mac, the ranking is as follow,
Tokyo 10 minutes of work
Los Angeles 11 Chicago 12
Miami 12 New York 13
Auckland, New Zealand 14
Sydney, Australia 14
Toronto 14
Dublin, Ireland 15
Zurich, Switzerland 15
Frankfurt, Germany 16
Geneva 16
London 16
Vienna, Austria 16
Berlin 17
Hong Kong 17
Luxembourg 17
Montreal 17
Munich, Germany 17
Copenhagen, Denmark 18
Oslo, Norway 18
Amsterdam, Netherlands 19
Helsinki, Finland 19
Madrid, Switzerland 19
Nicosia, Cyprus 19
Brussels, Belgium 20
Milan, Italy 20
Taipei, Taiwan 20
Barcelona, Spain 21
Paris 21
Stockholm, Sweden 21
Singapore 22
Lyon, France 24
Manama, Bahrain 24
Dubai, United Arab Emirates 25
Moscow 25
Rome 25
Athens, Greece 26
Riga, Latvia 28
Seoul, South Korea 29
Johannesburg, South Africa 30
Lisbon, Portugal 32
Kuala Lumpur, Malaysia 33
Ljubljana, Slovenia 35
ao Paulo, Brazil 38
Shanghai, China 38
Prague, Czech Republic 39
Tallinn, Estonia 39
Warsaw, Poland 43
Vilnius, Lithuania 43
Beijing 44
Budapest, Hungary 48
Istanbul, Turkey 48
Rio de Janeiro, Brazil 53
Bratislava, Slovakia 55
Santiago, Chile 56
Kiev, Ukraine 55
Buenos Aires, Argentina 56
New Delhi 59
Bangkok, Thailand 67
Bucharest, Romania 69
Sofia, Bulgaria 69
Bombay, India 70
Manila, Philippines 81
Mexico City 82
Caracas, Venezuela 85
Jakarta, Indonesia 86
Lima, Peru 86
Nairobi, Kenya 91
Bogota, Colombia 97
Tokyo seems to be city where you can earn your money the fastest. It is quite interesting to notice that Tokyo is the only Asian city ranks in the top ten list. The second Asian city where you can make money fast is Hong Kong. And again Kuala Lumpur, is far behind other Asian cities such as Seoul, Singapore, Taipei and even Moscow! And the United States is still the country with most cities where you can buy your Big Mac by working less than 15 minutes!
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