TO
FISH OR NOT TO FISH
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 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 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.
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
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.
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 MCE 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.
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.
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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