Power of Money

I like this article and want to share with anyone who aspires to be a millionaire.

Power of Money, By Adam Khoo( Singapore 's youngest millionaire at 26 yrs.)"

Some of you may already know that I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia , Indonesia , Thailand and Suzhou ( China ). I am in the airport almost every other week so I get to bump into many people who have attended my seminars or have read my books. Recently, someone came up to me on a plane to KL and looked rather shocked. He asked, 'How come a millionaire like you is traveling economy?' My reply was, 'That's why I am a millionaire. ' He still looked pretty confused. This again confirms that greatest lie ever told about wealth(which I wrote about in my latest book 'Secrets of Self-Made Millionaires'). Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex, and sit on first class in air travel. This is why so many people never become rich because the moment that earn more money, they think that it is only natural that they spend more, putting them back to square one. The truth is that most self-made millionaires are frugal and only spend on what is necessary and of value. That is why they are able to accumulate and multiply their wealth so much faster. Over the last 7 years, I have saved about 80% of my income while today I save only about 60% (because I have my wife, mother in law, 2 maids, 2 kids, etc. to support). Still, it is way above most people who save 10% of their income (if they are lucky). I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money. However, I happily pay $1,300 to send my 2-year old daughter to Julia Gabriel Speech and Drama without thinking twice.When I joined the YEO (Young Entrepreneur's Orgn)a few years back (YEO) is an exclusive club open to those who are under 40 and make over $1m a year in their own business) I discovered that those who were self-made thought like me. Many of them with net worth well over $5m,travelled economy class and some even drove Toyota 's and Nissans, not Audis, Mercs, BMWs. I noticed that it was only those who never had to work hard to build their own wealth (there were also a few ministers' and tycoons' sons in the club) who spent like there was no tomorrow. Somehow, when you did not have to build everything from scratch, you do not really value money. This is precisely the reason why a family's wealth (no matter how much) rarely lasts past the third generation Thank God my rich dad foresaw this terrible possibility and refused to give me a cent to start my business. Then some people ask me, 'What is the point in making so much money if you don't enjoy it?' The thing is that I don't really find happiness in buying branded clothes, jewellery or sitting first class. Even if buying something makes me happy it is only for a while, it does not last. Material happiness never lasts, it just give you a quick fix. After a while you feel lousy again and have to buy the next thing which you think will make you happy. I always think that if you need material things to make you happy, then you live a pretty sad and unfulfilled life.. Instead, what makes me happy is when I see my children laughing and playing and learning so fast. What makes me happy is when I see my companies and trainers reaching more and more people every year in so many more countries.What makes me really happy is when I read all the emails about how my books and seminars have touched and inspired someone's life. What makes me really happy is reading all your wonderful posts about how this blog is inspiring you. This happiness makes me feel really good for a long time, much much more than what a Rolex would do for me. I think the point I want to put across is that happiness must come from doing your life's work (be it teaching, building homes, designing, trading, winning tournaments etc.) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a life without meaning.

Avatar - 3D

I enjoyed the movie tremendously! Very entertaining and not a minute of dull moment!

Party of Intoxication

I had my first sip of alcoholic drink when I was a secondary school-going kid, and I knew I didn't want more.

These days, many teenagers probably started drinking when the attain the legal age of buying acohol at 18. To many youngsters, consuming alcohol is seen as a passage to adulthood and being able to boast about how they got drunk whilst clubbing is more pleasurable than drinking itself. Most parents knew their kids drank liquor, but thought little of the harm that could do them. But for the girls who party at a club or at a friend's place, getting drunk and losing control of their senses could lead to potentially dangerous situations.

Binge drinking will never help one to loosen up or de-stress instead will end up with a bad hangover the next day.

Happy

These days I'm panick-stricken how children spend, spend, spend. They lived as though every day is their last and has never given it a thought how money derives. What happen to parenting? Most parents are busy with their work or lives and lack nurturing their children. They thought money could be replaced for the time spent with their kids. I always share stories involving those less fortunate ones with my children and emphasized to them the importance of frugality and saving for rainy days. This way, I realised I have done my part in educating them and hopefully they grow up to be responsible adults and be accountable for whatever they do later on in life.

WELCOME 2010

HAPPY NEW YEAR EVERYONE!

LET'S MAKE 2010 A GREAT YEAR

Always On My Mind

Utterly distress when things don't go right.

Fantasy Home

Welcome to my new Home!



The outdoor living area on a cool day.

On a sunny day, an indoor living room would be wonderful

Getting up from bed and need to fix a quick bite, just enjoy at the breakfast top

invite friends for afternoon tea

Preparing for lunch or dinner

Lunch or dinner is ready to be served

Have a nice shower to feel fresh

or need to soak up

Calling it a Day.. for a romantic night, Bedroom one

To enjoy reading before bed, Bedroom Two

Join the kids for some fun before the night is out, Childrens' Bedroom

Love & Respect

A recent trip to visit an ailing relative had me wondering whether what I did was right or wrong – in persuading my parents especially my mum in sponsoring him for a degree overseas more than 30 years ago was the righteous thing to do. I had to convince myself that my judgement in that person was correct. It wasn’t the thought of him reciprocating us in any way but being respectful and sincere in remembering what my parents have done for him would be nice. In the few days I had spent with him, I was upset and heartbroken in the hope that he will express to me what my parents have done for him and his family. No, I didn't get to hear what I want to hear, it was a letdown and too much of a disappointment. Much worse, I had to cope with my emotions after the visit. Over the years, my parents had helped relatives who had never appreciated them and it kept me wondering whether they deserve my parents love and financial assistance. However, I have to come to terms with myself that I need to be forgiving and not bitter over such matters.

Shame On You!

I don't understand how some people manage to live through the ordeal of having creditors coming after them and yet continue to enjoy a luxurious life. It's really a SHAME!

Why WORRY?

Tell me how do you release STRESS.

Lights of My Life

I was in my early twenties when my dad ran into financial difficulties. The debt he accumulated was huge and I couldn't figure out how I could help to contribute towards our family's daily expenses. I was depressed and often cried myself to sleep. My dad loved his family dearly and had always wanted the best for his family. He was a smart guy but never had any experience in dealing with finances. From that day onwards, I learnt to be thrifty and wowed not to run into a similar fate like my father. I saved hard for every cent earned in the hope that I can have a better life with no financial implications. Despite having an affluent childhood, I was adamant to change, from being spend-thrift to a sensibly economical person. But I don't see that in my siblings and how they had learnt from this bitter lesson. They continued to spend lavishly by going abroad for holidays, indulge in expensive clubbing, dining out etc, etc. Whenever they run into debts or could not cover their expenses, they would call me for help. I would usually chip in to see what I could do for them and without hesitation lend them whatever the amount they needed. The funny thing is I couldn't see that I was indirectly exposing them to more danger. Over time, I began to hate myself for assisting them in such a wrong way. To stir myself away from this pitfall, I have decided to halt all monetary assistance to them except on humanitarian grounds.

I have constantly reminded my children to save for rainy days and instilled in them the habit of savings, never to indulge in expensive things that they could ill afford and to spend within their limits. I hope this invaluable advice would sink in with them.

JUST GO

"Just Go" is Lionel Richie's latest single. I heard this song "Just Go" while watching American Idol. Danny Gokey, a finalist sang this duet with Lionel Ritchie. It's a beautiful song. I loved it!

Pillows

Went out today and was determined to buy a medium-sized handbag for my forthcoming trip. I have always encounter the same problem, if I needed to purchase something, it is most unlikely that I would find one which is suitable. I really don't know why. So I came home without one but the good thing is I stumbled upon a shop selling pillows which were made solely from rubber. For quite some time, I had been looking for a firm pillow which provide support of the neck and I found it. I bought two, one was a contour pillow that helps to protect the neck and the other for hubby which was firm. It was quite costly and it costs RM149 each.

HOLIDAY

The holiday season is here. Yeah, I'm ready for a holiday.

MONEY MONEY MONEY

First Scenario
My business has been badly affected during the last six months and I need to borrow some money. Can you borrow on my behalf some RM20K from our rich cousin?

Second Scenario
Can you please lend me RM10K? I need some cashflow for my business.

Tell me how would you react and respond in a sensible mind to these situations without fuming mad and raising your furious tone.

Money

Remember

MONEY will not create the HAPPINESS you desire

SAD

Am feeling disappointed, frustrated and helpless. It's not my problem, it's yours. Be responsible for your own problems. So, why come to me? I don't think I'm smart nor capable in resolving matters but definitely I'm vulnerable, so does that mean I have to grieve in silence. Wish I could blow it all away...

New Year Resolutions

I always hear about people writing new year resolutions every New Year. How about you? Do you have a list of new year resolutions for 2009? In this post, I want to comment how I feel about those who make one. To me making a resolution is all about making a decision or choice. If the decision is made and not being carried out in that particular year, then your resolution is merely a wish which you set your heart on, with no aim or purpose, be it your decision is to acquire new skill, quit a bad habit or achieve a goal. Do not continue to make resolutions year after year without having any real purpose. Make sure you DO IT!

Remember your wishlists are useless unless actions are taken!

GONG XI FA CAI

GONG XI GONG XI...

I WOULD LIKE TO WISH ALL MALAYSIANS A VERY AUSPICIOUS & PROSPEROUS YEAR OF THE OX.

Spring Cleaning

It has certainly been a much enjoyed break. I, for one take my holiday seriously. When you are on holiday, there are so many options and choices...whether you want to cook or eat out, to go to Langkawi or Pangkor, the decision is absolutely yours to make. Now that the school holiday is over and so is New Year, it's time to get back to work realistically.

Yes, I am looking forward to another break.....Chinese New Year holiday but not after I had my house spring cleaned and that's a deal!

So, let's get down to work......