TO FISH OR NOT TO FISH
If I give you a fish, it will last you for only a meal. But if I teach you how to fish, you will have as many fishes for the rest of your life. Who wants to learn how to fish?. Fantastic, Thank you.
Fellow Toastmasters, Ladies and Gentlemen,
These are the three (3) true but ugly financial facts of life.
Fact # 1. Only 1 out of 100 American does investing. You may probably say who cares about the Americans.
Fact # 2. In 2011, the Federation Of Malaysian Consumers Association (FOMCA) reported that 72 out of 100 young adults have no retirement plan. Some of you may say "Not a big deal."
Fact # 3. About 1 out of 2 Malaysian retires used up their entire EPF money in their first 10 years after their retirement. Scary? Right.
Now, you can't say that it does not matter to you anymore.
I like to share with you some financial tips which will help you to grow your wealth steadily to a new record level which I hope will last you for the rest of your life.
Do you know who Warren Buffet is? He is probably the most successful investor of the 20th century.
Buffet's rule No 1. - "Do not Save what is left after Spending, but Spend what is left after Saving."
I, unknowingly, have been applying his financial wisdom since I was 14 years old.
I earned my first interest INCOME from my saving accounts with the Bank Simpanan Nasional after I had learnt the time value of money from my commerce teacher at Secondary school.
My saving habit then spread to other areas of my life. My mantra: Save Your Self Time, Energy, Money (SYSTEM) was developed when I began doing almost everything at my record speed. Time is money.
Now, I understand why Robert Kiyosaki pointed out the only difference between the poor and the rich is how they use their time.
Buffet’s Rule No 2. – “Invest money instead of spending it.
In 1975, I used my savings to acquire my first and the most economical bicycle to enhance my Earning. I tripled my sales income with it by covering much bigger areas at much faster speed than relying on public buses. "WOW! That’s not bad”.
To put it simply, you need to use money and time to make more money.
With the current high inflationary regime, you need to invest wisely to generate a Return higher than the inflation rate in order to grow your wealth.
Buffet’s Rule 3. - Invest in yourself.
I have applied this rule since 1979. I terminated my part-time sales business to concentrate on my studies. With my M.C.E. certificate, I tripled my monthly income compared to my last business profit
Since then, I kept on investing in myself by upgrading and enhancing my knowledge and skills. Putting Knowledge into action is Power - I have been subscribing to the above three (3) rules wholeheartedly over 30 years.
As a result, I have been receiving rental, dividend income and trading profits from my investment from my investments in properties and shares over 15 years.
This is my secret of keeping my wealth figure SEXY:- Huge in income; Small with daily non investment expenses; Big in Net worth.
To elevate yourself to the next higher level, you need to learn, unlearn and relearn. Through this process, you will slowly but surely go far beyond your limitation.
To read more, please click the link at http://liftyouup.blogspot.com/2009/10/how-to-remove-your-limiting-belief.html
Wealthy people invest in themselves. They enhance their skills to make more money.
Robert Kiyosaki and Donald Trumph co-wrote the book, "Why we want you to be multibillionaires" ( show the book)
In their book, they said if you don't become rich, you will become poor.
Wealth is the state of your mind. Jerry Gillies, the author for bestselling MoneyLove
When your mind is weak, you see problem,
when your mind is balanced, you see challenge,
when your mind is strong, you see opportunity.
With an appropriate mindset, knowledge and skills, I am now more comfortable to add much higher risk’s investments into my portfolio so as to gain much handsome profit than before.
Fishing is a skill, just like Public Speaking. Treat the above tips as your Fishing Competence Manual. Leaders are made, so are Fishermen.
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