Before you can actually attain your goals, especially your financial goals, you got to have a good reason, a big WHY....or the purpose for your money. You see, money is nothing but paper with numbers. Money itself is not going to motivate you but the things you can do with money WILL. Therefore, you have to know your purpose for money, only then will it drives you to your goals.
For me, i was recently diagnosed with a medical condition called pre-diabetes. As its name suggests, the condition is such that if i do not start to take care of my diet and body, it will eventually develop into diabetes. This completely caught my wife, family, friends and of course MYSELF by surprise. How can that be? I am only in my early thirties, normal built, healthy, exercise every now and then.
It suddenly dawned to me that hey, a person's life is so vulnerable and unpredictable. I am very grateful that it is only pre-diabetes, which is reversible, and not other terminal illness like cancer etc.
This event set me thinking really hard. I asked myself, if instead of pre-diabetes, it was say cancer and i have only 3 months to live....what will happen to my wife and 2 young kids who are both less than 2 years old. What did i leave for them? Payouts from insurance policy and some savings + stock investment? That's all. Is it enough to last them till their are old? Will my wife be able to survive on that amount? The answer is of course not. That is why i have decided to re-plan our lives and set specific goals to be a millionaire in 5 years' time, be financially free in 4 years.
This is our PURPOSE for money. Once we are able to do that, we will be out of the rat race, free from financial pressures, do what we really enjoy doing and also spend time with our kids.
Learn more about Purpose for Money in this product:
http://tinyurl.com/3cnl8w
Quote of the Day: "The rich buys assets"
Saturday, March 1, 2008
Thursday, February 7, 2008
Role Models (I)
The best way to reach your goals is to model people who are already successful in that arena. For example, if you want to be great at golf, you do not try to learn Michael Jordan right? You learn from a person call Tiger Woods. Why? Because he is the best in his field. Therefore, by modelling exactly how and what he does, chances are you will end up very much more successful . In this way, you will cut short you learning curve and attain your goals faster.
As for us, we have decided to model after Adam Khoo. Who is he? Adam Khoo is an entrepreneur, a best-selling author and a peak performance trainer. A self-made millionaire by the age of 26 and now a multi-millionaire at the age of 31, he owns and runs 3 different companies with a combined annual turnover of $20 million.
We have bought many of his books (like I am Gifted, So Are You, Secrets of the Self Made Millionaires, Master Your Mind, Design Your Destiny, Secrets of the Millionaire Investors etc) and will be focusing primarily on Secrets of Self Made Millionaires here.
Learn more about Role Models, get this:
http://tinyurl.com/3cnl8w
Quote of the Day
"Time is the most valuable asset in the world"
As for us, we have decided to model after Adam Khoo. Who is he? Adam Khoo is an entrepreneur, a best-selling author and a peak performance trainer. A self-made millionaire by the age of 26 and now a multi-millionaire at the age of 31, he owns and runs 3 different companies with a combined annual turnover of $20 million.
We have bought many of his books (like I am Gifted, So Are You, Secrets of the Self Made Millionaires, Master Your Mind, Design Your Destiny, Secrets of the Millionaire Investors etc) and will be focusing primarily on Secrets of Self Made Millionaires here.
Learn more about Role Models, get this:
http://tinyurl.com/3cnl8w
Quote of the Day
"Time is the most valuable asset in the world"
Tuesday, February 5, 2008
Don't Worry, Be Happy
Work Stress, financial stress and probably emotional stress??? I believe everyone will be living under some substantial amount of stress. The working class is facing the stress of meeting sales targets and meeting deadlines (where I use to fall under this category), the under-paid or the unpaid and people who are living from paycheck to paycheck has got financial stress and so on. In fact, did we all realise that life is like a motion picture that is constantly moving and forever changing. So why worry? Worries and problems will soon pass and things that has caused you to break out into tears will be forgotten sooner or later.
To live a happy and successful life, I guess what we need to do is to do what need to be done now to fulfil our dreams and not to worry about the future. We can't change the past nor foresee the future but through conscious effort put in to gain control of our mind, we will have some control of the present. So stop worrying and start planning for your future now. Your mind has the potential to medicate you just as it has the ability to poison you.
Quote of the day: "Failures are the pillars of all success"
To live a happy and successful life, I guess what we need to do is to do what need to be done now to fulfil our dreams and not to worry about the future. We can't change the past nor foresee the future but through conscious effort put in to gain control of our mind, we will have some control of the present. So stop worrying and start planning for your future now. Your mind has the potential to medicate you just as it has the ability to poison you.
Quote of the day: "Failures are the pillars of all success"
Saturday, February 2, 2008
Your Subconscious Mind
Your subconscious mind is a very powerful tool that could help u achieve what u want in life. U must be wondering what is the meaning of subconscious mind? Why is it so powerful that it can help u lead a life in peace, harmony and abundance?
Allow me to first illustrate how our mind works. Nurturing a good thought works exactly the same way as if we are nurturing our child. The values that u impart to your child will be reflected by how he will grow up to be.
Our conscious mind is the powerful one that implant a certain thought to our subconscious mind. Understanding the interaction of your conscious and subconscious mind will enable u to transform your life. Every thought is a cause and it has it's effect. So start sowing good thoughts now to reap your harvest of peace, harmony, wealth and abundance.
A fairly good book to understand more about your subconscious mind is the "The Power of Your Subconscious Mind" by Dr Joseph Murphy. No obligations though. :)
Allow me to first illustrate how our mind works. Nurturing a good thought works exactly the same way as if we are nurturing our child. The values that u impart to your child will be reflected by how he will grow up to be.
Our conscious mind is the powerful one that implant a certain thought to our subconscious mind. Understanding the interaction of your conscious and subconscious mind will enable u to transform your life. Every thought is a cause and it has it's effect. So start sowing good thoughts now to reap your harvest of peace, harmony, wealth and abundance.
A fairly good book to understand more about your subconscious mind is the "The Power of Your Subconscious Mind" by Dr Joseph Murphy. No obligations though. :)
Quote of the Day: "You are the creator of your own thoughts"
Monday, January 28, 2008
Money Management Habits (I)
There are several money management habits out there taught by many highly successful people (Robert Kiyosaki's Rich Dad Poor Dad, Frank & Dr Muriel Newman's The Seven Ways to Wealth, Adam Khoo's Secrets of the Self Made Millionaires, T. Harv Eker's Secrets of the Millionaire Mind) but most of them have 1 thing in common, that is - PAY YOURSELF FIRST.
The concept is simple, for most financially-challenged people, the cashflow management is as follows:
When the pay cheque comes in, they spend first and whatever is left, they save. The pitfall is most of the time, there isn't anything left at the end of the month to save, let alone to invest. For this type of cashflow management, there is usually a little self control for spending and they tend to overspend or buy things on impulse or things which they did not plan to buy. Why is that so? It's because our expenses will always rise to the level of our income.
As for the RICH, the cashflow management is:
When pay cheque comes in, a fixed amount (10% is usually the recommended value though the higher the better) will be channelled to another account (which in T. Harv Eker's programme, its called Financial Freedom Account or FFA in short - we shall discuss T. Harv Eker's method's another time) and then spend whatever is left. Using this practise, the tendency to overspend will be reduced as the will not be that much "free" money lying around. Furthermore, the money saved will then be used to invest for higher returns.
We have had this concept for a long time long long ago but we didn't put into practise until recently when we attend the Millionaire Mind Intensive (MMI) course by T. Harv Eker that we finally decided to start to practise this habit. It does takes a lot of control and discipline but its a matter of habit which we are forcing ourselves to do so. Three months have passed since we started and amazingly we were able to control our spending and forced ourselves to save some money.
Learn more about money management habits, go to this link :
http://tinyurl.com/3cnl8w
Quote of the day:
"You are the root of your own success"
The concept is simple, for most financially-challenged people, the cashflow management is as follows:
When the pay cheque comes in, they spend first and whatever is left, they save. The pitfall is most of the time, there isn't anything left at the end of the month to save, let alone to invest. For this type of cashflow management, there is usually a little self control for spending and they tend to overspend or buy things on impulse or things which they did not plan to buy. Why is that so? It's because our expenses will always rise to the level of our income.
As for the RICH, the cashflow management is:
When pay cheque comes in, a fixed amount (10% is usually the recommended value though the higher the better) will be channelled to another account (which in T. Harv Eker's programme, its called Financial Freedom Account or FFA in short - we shall discuss T. Harv Eker's method's another time) and then spend whatever is left. Using this practise, the tendency to overspend will be reduced as the will not be that much "free" money lying around. Furthermore, the money saved will then be used to invest for higher returns.
We have had this concept for a long time long long ago but we didn't put into practise until recently when we attend the Millionaire Mind Intensive (MMI) course by T. Harv Eker that we finally decided to start to practise this habit. It does takes a lot of control and discipline but its a matter of habit which we are forcing ourselves to do so. Three months have passed since we started and amazingly we were able to control our spending and forced ourselves to save some money.
Learn more about money management habits, go to this link :
http://tinyurl.com/3cnl8w
Quote of the day:
"You are the root of your own success"
Friday, January 25, 2008
Rich Dad Poor Dad (I)
Our first foray into the concepts of financial freedom came from a book called "Rich Dad Poor Dad" by Robert Kiyosaki. It was recommended to us by a long time friend called Ah Tiong. After reading this book, we began to understand why the rich are rich and the poor are ....poor. We are sure many people have read it because its on the bestseller list for years. If you haven't, go read it, its a good foundation.
In this book, we "learnt" something very important (learnt in quotation because it was something so basic and yet not many people actually practises it) and that is the term Financial Freedom. Basically, the concept is if you use your time to earn money, it is active income and in layman's term, No work = No pay. And if you have income that comes in whether you work or not and that's passive income. Therefore, if your passive income is greater than your expenses, hey you are financially free. Isn't that simple? Then why is it that there aren't that many financially free people around or at least around us?
The answer is simple because if you were like us who tried to look at how he did it and concluded that, well, that's in US and his method can't work in Singapore and we stopped there. That's exactly what happened to us. Though in our mind, we understand the concepts but it was not "do-able" so we did not take any actions and our financial situation remains pretty much the same i.e. kept working very hard for the meagre pay cheque.
In this book, we "learnt" something very important (learnt in quotation because it was something so basic and yet not many people actually practises it) and that is the term Financial Freedom. Basically, the concept is if you use your time to earn money, it is active income and in layman's term, No work = No pay. And if you have income that comes in whether you work or not and that's passive income. Therefore, if your passive income is greater than your expenses, hey you are financially free. Isn't that simple? Then why is it that there aren't that many financially free people around or at least around us?
The answer is simple because if you were like us who tried to look at how he did it and concluded that, well, that's in US and his method can't work in Singapore and we stopped there. That's exactly what happened to us. Though in our mind, we understand the concepts but it was not "do-able" so we did not take any actions and our financial situation remains pretty much the same i.e. kept working very hard for the meagre pay cheque.
Quote of the day:
"Success breeds success"Monday, January 21, 2008
History is made - our first blog
We are a married couple with 2 young kids living in Singapore and this is the first time we are writing a blog. Our purpose of this blog is to share with everybody our learning experience on our path to financial freedom. We aimed to achieve that status and also a net worth of 1 miilion in 5 years time (2012) - starting from scratch.
In our blog, we shall include motivational quotes, self development articles + products, internet marketing articles + products, investment ideas, passive income generation, multiple streams of income etc.
Some of the authors/trainers/successful people of interest are Robert Kiyosaki, Adam Khoo, Stuart Tan, T. Harv Eker, Anthony Robbins, Ewen Chia, Napolean Hill, Warren Buffet, Peter Lynch...and the list goes on.
Our main intention here is to integrate our experience with what we have learnt from these people and share it with everybody who has the desire to learn and live their desired lifestyle.
We may be including links to some great products from these people from time to time and if you decided to buy, please use the links as a gesture of appreciation to us, THANK YOU.
Quote of the Day
"Success does not happen by chance, it happens by CHOICE and DESIGN"
In our blog, we shall include motivational quotes, self development articles + products, internet marketing articles + products, investment ideas, passive income generation, multiple streams of income etc.
Some of the authors/trainers/successful people of interest are Robert Kiyosaki, Adam Khoo, Stuart Tan, T. Harv Eker, Anthony Robbins, Ewen Chia, Napolean Hill, Warren Buffet, Peter Lynch...and the list goes on.
Our main intention here is to integrate our experience with what we have learnt from these people and share it with everybody who has the desire to learn and live their desired lifestyle.
We may be including links to some great products from these people from time to time and if you decided to buy, please use the links as a gesture of appreciation to us, THANK YOU.
Quote of the Day
"Success does not happen by chance, it happens by CHOICE and DESIGN"
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