TO FISH OR NOT TO FISH ( IN SPEECH)

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 rests of your life. Who wants to learn how to fish? Fantastic, Thank you.

Once you acquire the skill, you will have fishes whenever you like.

These are the three 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 5 out of 10 Malaysian retirees 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 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 rests of your lifetime.

Do you know who Warren Buffet is? According to Wikipedia, he is 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 from my commerce teacher around that time.

My savings habit then spread to other areas of my life. My Mantra: Save Your Self Time, Energy, Money (SYSTEM) -I began doing almost everything at record speed.

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 saving money to acquire my first and 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 high inflationary regime, you need to invest wisely to generate a yield that is higher than the inflation rate in order to grow your wealth.

 

Warren’s Rule No 3 Invest in yourself.

I have applied this rule since 1978. I terminated my part-time business venture to concentrate on my studies. With my MCE certificate, I tripled my monthly income compared to my last business profit.

Since then, I kept on investing in myself by upgrading my knowledge and skills.

Putting knowledge into action is Power. I have been subscribing to the above three rules wholeheartedly over 30 years.

AS a result, I have been receiving rental, dividend income and trading profits 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 my 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.

Wealthy people invest in themselves. They enhanced their skills to make more money.

Robert Kiyasaki and Donald Trumph co-wrote the book, "Why we want you to be multibillionaires"

In their book, they said if you don't become rich, you will become poor.

"Wealth is not a material gain, but a state of mind." Jerry Gillies - an award-winning former NBC newsman and the author of the 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.

After having appropriate mindset, knowledge and skills, I am now more comfortable to add a much higher risk's investment 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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