Li Ka Shing Success Stories Part 1-1

Li Ka Shing Success Stories Part 1-2

Li Ka Shing Success Stories Part 2-1

Li Ka Shing Success Stories Part 2-2

Li Ka Shing Success Stories Part 3-1

Li Ka Shing Success Stories Part 3-2

Li Ka Shing Success Stories Part 4-1

Li Ka Shing Success Stories Part 4-2

The GREED of a MAN part 35

The Greed of a Man part 34

The Greed of a man part 33

The GREED of a MAN part 38

The GREED of a MAN part 37

The GREED of a MAN part 36

RAT RACE

My Viewer comment

My viewer comment on "Entrepreneur is a lousy employee" Please feel free to give your comment....thanks..

Eliteease said..
Hm,.. speak as an entreprenuer who just started 3 years ago, i think we are not really a lousy employee but we had lousy employers? And usually it caused the initial thought of starting up own company as when you are employed you are at your immediate boss's mercy not even the TOP level, your dreams, vision, even good suggestion might not even pass thru due to "middle level management" or political issue. Hence, if you have dreams to fulfil, work on it, why let others dominate your thinking and ways of doing? Explore your potential while you are young.

August 17, 2007 3:06 PM
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Anonymous said...
Well, it might be due to they encounter LOUSY EMPLOYERs who trigger their thoughts of starting their own to fulfil what they believe. Start up your own biz to realise your full potential, why let your dreams fade away because of "middle management's short-sightedness / over protective their position or power struggle etc.. political issues?

August 17, 2007 3:09 PM

BORROW RESPONSIBLY

As life closes in on someone who has borrowed far too much money on the strength of far too little income, there are no fire escapes.

--John Kenneth Galbraith

Face this truth: If you let them, lenders are only too willing to advance you more than is good for your family. Mortgage banks and credit-card issuers don't care if your monthly payment makes it impossible for you to sock away money in your 401(k) or fund your kid's 529 plan. You need to set your own rules, including:

No credit-card debt. Period. It's never okay to pay 15% to borrow for consumption.

Borrow only to buy assets that appreciate. A home, yes. Education, sure. A vacation, a fancy dinner or even a 50-inch flat-screen TV? No way.

Entrepreneur is a lousy employee

Entrepreneur is a lousy employee. No need to honey-coat this one. People who start their own businesses tend to have been sack or resign more than one job. I'm not saying you were lazy or laid off for lack of work or moved from one job to a better-salary one. You were asked to leave, or you quit before they could terminate you. Think of it as the marketplace telling you that the only person who can effectively motivate and manage you is yourself.

Entrepreneur couldn't work for someone else, I don't mean that in a negative way. I have a friend who is now a Millionaire have the same experience mention above. When he was 18 he work as an assistant Photographer with a salary of $300 only. All the other Photographer is earning double or triple salary from him. He end up learning nothing just like cleaning up the studio every morning, used as delivery boy by sending film and photo using his personal motorbike(no bike allowance given) . He was sack due to asking for higher pay after the second month.

Master your finance

This is a summary of what was discussed in the First episode of Financial Talk Show “Li Cai Zhang Men Ren” on 3 July 2007. This is a one-month program on Capital Radio 95.8 FM, every Tuesday 4.15 pm to 5 pm. This program will end on 31 July 2007. Each week we will discuss a different topic. The program is conceptualized by both myself and Capital Radio 95.8 FM DJ Lee Jeng. Cheers! Dennis Ng How to Master your Finances Who is “Li Cai Zhang Men Ren”? DJ: many listeners might be wondering why is this program entitled Li Cai Zhang Men Ren, so is the Zhang Men Ren Capital Radio DJ Lee Jeng or Certified Financial Planner, Dennis Ng? Dennis: we want to educate the public and the objective of the program is to empower listeners to learn how to “master” your finances, thus, each and every listener would be empowered to be the “Li Cai Zhang Men Ren” of their Households. That’s why we named the program Li Cai Zhang Men Ren. DJ Lee Jeng: Dennis, What is Financial Literacy to you? Dennis: One aspect of Financial Literacy is for you to know how to “look at numbers” from the right perspective. For instance, when members of the public were interviewed about the changes in GST from 5% to 7%, most of them said that the increase is marginal, just a 2% increase, not much of an impact. DJ Lee Jeng: yes, that’s how most people view the GST increase, so is there anything incorrect about this view? Dennis: certainly. Because when we look at “increment”, basically we use the latest GST rate of 7% to be divided by the original rate of 5%, if we do so, the ACTUAL percentage increase in GST is not 2%, but 40% instead! Similarly, when coffee shops increase coffee prices from 80 cents to 90 cents, the increase is not 10% but 12.5% instead. Thus, one key step to Financial Literacy is to learn how to look at numbers correctly. DJ: What good news were announced in Singapore recently? Dennis: one good news is CPF Contribution by employer is increased from 13% to 14.5% from 1 July 2007. If we use an example of a person earning S$2,000 a month, the actual increase in CPF contribution per month is about S$30 per month. DJ: yes, this is good news, but the increment is not exactly a lot. Most people overlook the Power Of Accumulation and Compounding Dennis: another thing most people overlook is the POWER of ACCUMULATION and COMPOUNDING. Yes, the increment of S$30 per month does not seem like a lot, however, in actual fact, over a period of 30 years, this represent additional RETIREMENT funds of S$16,061! More than 50% of Singaporeans do not even have $50,000 in their CPF account when they retire at age 55. Thus, this “small” increase in CPF actually can help them boost their retirement savings by a not insignificant S$16,061! And if this person invest this additional CPF and earns 4% instead of 2.5%, the increment would be S$20,821, or an additional of 30% compared to leaving the money in CPF Ordinary Account. Thus, most people IGNORE the fact that each little bit of savings and money can actually be the seeds of a MONEY TREE if you allow the seeds time to grow into a tree. For instance, when I was born, my family is actually quite poor. However, my mother is a very frugal person and very disciplined in savings. She managed to nurture all 6 of her children and even planned enough for her own retirement, not from earning big bucks, but all through just disciplined savings. I remembered when I was about to enter university, my mum passed me back a savings passbook to me. She said this savings is what she saved for me all these years and she is passing it back to me since I’m grown up and know how to use the money wisely. It was like over S$10,000, (I know some of you might say it is just “peanuts”). However, when I looked through the passbook, I realized the money was accumulated over a long 20 years of time, with deposits as low as S$10, S$20…..so basically, my mum saved on a regular basis, about S$30 per month and the money grew to over S$10,000. The morale of the story is that you don’t need to start saving a lot of money, just a little on a disciplined basis and it can amount to something over a period of time. So for all those people out there who give excuse you don’t have much money to save, well I guess now you have no more excuse. DJ: some people complained that prices of most things in Singapore seem to be rising, coffee, GST, taxi fare etc, etc? Financial Literacy: Learn how to focus and TAP on opportunities to grow Richer Dennis: well, most people only focused on 1 side of the coin. On the other side of the coin, Singapore’s economy is growing by more than 5% in the last 3 years, many foreigners are attracted by the many opportunities in Singapore and are coming to set up business and buy properties. Property market has recovered, in fact prices increased by more than 20% in last year itself. Imagine if your house was worth S$400,000 1 year ago, now it is worth about S$500,000, or in other words, your NETWORTH has increased by S$100,000 without you doing anything at all. Many Singaporeans are “blind” to the opportunities in Singapore. For instance, the Company tax in Singapore is only 8.5% for companies with Net profit of below S$300,000 a year, this is possibly the lowest in Asia, even lower than Hong Kong. Many foreigners are attracted by the opportunities in Singapore. The question Singaporeans need to ask themselves is how can we tap on the opportunities in Singapore, rather than just focus on the price increase of some of the things. DJ: thank you Dennis for sharing with us some useful tips on Personal Finance today, next week we’ll discuss about Singapore Property Market Outlook, stay tuned.

WARREN BUFFET

here was a one hour interview on CNBC with Warren Buffet, the second
richest man who has donated $31 billion to charity. Here are some very
interesting aspects of his life:

1. He bought his first share at age 11 and he now regrets that he started too late!

2. He bought a small farm at age 14 with savings from delivering newspapers.

3. He still lives in the same small 3-bedroom house in mid-town Omaha ,
that he bought after he got married 50 years ago. He says that he has
everything he needs in that house. His house does not have a wall or a fence.

4. He drives his own car everywhere and does not have a driver or security people around him.

5. He never travels by private jet, although he owns the world's largest private jet company.

6. His company, Berkshire Hathaway, owns 63 companies.
He writes only one letter each year to the CEOs of these companies, giving them goals
for the year. He never holds meetings or calls them on a regular basis.
He has given his CEO's only two rules. Rule number 1: do not lose any
of your share holder's money. Rule number 2: Do not forget rule number 1.

7. He does not socialize with the high society crowd. His past time
after he gets home is to make himself some pop corn and watch Television.

8. Bill Gates, the world's richest man met him for the first time only
5 years ago. Bill Gates did not think he had anything in common with
Warren Buffet. So he had scheduled his meeting only for half hour. But
when Gates met him, the meeting lasted for ten hours and Bill Gates
became a devotee of Warren Buffet.

9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.

His advice to young people: "Stay away from credit cards and invest in yourself and

Remember:
A. Money doesn't create man; it is the man who created money.

B. Live your life as simple as you are.

C. Don't do what others say, just listen to them, but do what you feel good.

D. Don't go for brand name; just wear those things in which u feel comfortable.

E. Don't waste your money on unnecessary things; just spend on those who really are in need.

F. After all it's your life so why give chance to others to rule your life.
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copy and paste from ilovesg, i onli change the header to "advice from warrent buffet" to make it more prominent in case others miss it

the story of pipeline and buck

Why saving money is just like bodybuilding

Why saving money is just like bodybuilding

It takes lots of discipline, says former varsity champion who saves a third of his income, of which 20% is invested

By Lorna Tan
Jul 01, 2007
The Straits Times
BODYBUILDING and money management seem worlds apart but Sean Toh reckons the discipline and focus needed to build impressive muscles are equally useful when it comes to building financial freedom.

Mr Toh, 35, a former varsity champion bodybuilder, distils his views into his book, 4 Steps To Financial Freedom. 'The difference between the rich and the poor is that the rich have more financial muscles. Money management is a skill that needs discipline to practice those saving habits.'

His own approach to investing is to buy when nobody dares to invest and sell when the herd is buying. He prefers to do his own research and execute his trades personally via online platforms.


Mr Toh's determination to get to grips with the investment learning curve involved reading more than 200 financial books and magazines.

He has been teaching design and technology at Henderson Secondary School for seven years, and also facilitates innovation and enterprise programmes for students.

An air steward before pursuing his studies at the Nanyang Technological University (NTU), Mr Toh managed to save $100,000 during his 31/2 years with Singapore Airlines. That was enough to settle some family debts and pay the tuition fees of his engineering course.

He is married to Australian Heather Parry, 39, and has two daughters.


Q Why did you decide to go into bodybuilding?

A I fractured my knee in Secondary 1. As part of the therapy, I underwent weight training. Since I had always wanted to have a muscular body, I began to fulfil my dream of being a bodybuilder.

I spent every available moment in the gym training. In 1998, I participated in Muscle War, an inter-varsity annual bodybuilding competition, and came in third.


Q What lessons can you draw from bodybuilding that are relevant to money management?

A Managing your money is like a bodybuilder dieting for a contest and having to restrict his fat and salt intake. We are always tempted to break away from the strict diet, like saving money, to have a pinch of savoury foods - overspending.

Saving money is hard for some people because they lack the discipline to save for future investments but tend to overspend on things they don't need. Saving money is like building your biceps.

Being rich is about having more discipline to learn, save and use those financial muscles to leverage on investing to build more wealth, like a competitive bodybuilder preparing for half a year just to win on competition day.


Q What are your money habits?

A I save about 30 per cent of my income, of which 20 per cent goes into investments.


Q What financial planning have you done for yourself and your family?

A Cashwise, I have about $50,000 in stocks and $70,000 in fixed deposits. I also invest my CPF in stocks and unit trusts.

I've made more money from unit trusts than stocks. I own shares in Singapore Petroleum Co, Singapore Exchange, Hyflux, Aussino and Creative Technology. As for funds, I have NTUC Income Prime fund, Aberdeen Japan and Indonesia funds.

I typically buy a unit trust when the value has dropped 6 per cent and practise dollar-cost averaging each time it drops further by doubling my next investment. When I make 20 to 30 per cent, I exit the fund.


Q What about insurance planning?

A I have bought personal life insurance, term life insurance and disability insurance for my family and myself. My annual premiums amount to $5,000.


Q How do you reward yourself?

A By spending 10 to 30 per cent of my investment return on books, food and holidays with my family so that I will be motivated to create even more wealth. The rest of the capital is re-invested.


Q Moneywise, what were your growing-up years like?

A I am the eldest child with two brothers. My father was a butcher. Money did not come easy and I worked to earn extra money when I was schooling.


Q How did you get interested in investing?

A I was having problems managing my personal finances after getting married in 1998, my final year at NTU. I was the sole breadwinner. I challenged myself to explore the option of one person earning two or more incomes without taking on more jobs.


Q What has been a bad investment?

A Investing in units trust without understanding the operating mechanism. I invested in an Indonesian equity fund in the 1990s which was touted as the best-performing fund then. Luckily, I invested only $1,000 so I was able to manage the risk. I advise investors to record their investment lessons in a logbook so that they will not repeat the same mistakes.

Never forget the No. 1 rule of master investors: Don't lose your investment capital.


Q Your best investment to date?

A It is my book. Although I enjoy better returns from units trusts and stocks, my book offers me returns that are tangible as well as intangible.

I broke even and got back my $10,000 capital five weeks after the book's launch. This book offers tangible returns such as royalties and intangible returns like my self-actualisation of being a best-selling writer at Popular bookstores and the ability to empower others with the knowledge to control their financial destiny.


Q What is your investment philosophy?

A These four steps to financial freedom: get healthy and strive for great health; adopt an open mindset to learn; invest your time in your financial and health education; and enjoy the wealth that you have created.


Q And your home now is...?

A It's a fully paid-up four-room HDB flat in Woodlands.


Q And your car is ...?

A I don't own a car and I don't have a driving licence.

Adam's secret revealed 2

Adam Khoo's secrets revealed 3

First Stage of Accumulate Wealth

In Personal Finance or Financial Freedom . “Financial Principles” which are as useful and practical today.I’ve personally benefited tremendously and applying the principles therein and have experienced improvement in my own finances. Knowing and not doing it, is not yet knowing”. For example, You know that exercise is good for your Health yet many people are lazy to exercise. Knowledge is only POTENTIAL power. Knowledge is ONLY power when APPLIED. 1. Money comes gladly and in increasing quantity to any person who save at least 20% of his/her earnings (first step to Financial Freedom). There are only 3 Cashflow Scenarios: a. You spend more than you earn: This person has negative cashflows, spending future money and likely to end up owing other people money (eg. credit cards, friends, relatives, loan sharks). b. You spend all that you earn: whether this person is earning SGD$500 a month or SGD$300,000 a month, he/she is still "Just over broke". c. You spend less than you earn (eg. save 20% or more of your earnings if possible). as time goes by, this person will automatically get richer and richer. I read SUNDAY TIMES this rich man say “every dollar you earn, do not spend more than 30cents” .Which cashflow scenario do you want to CHOOSE for yourself? 2. Money can work for you, if you become the “wise owner” of money and make money work for you. (note: you’re the Master, money is the slave, while many people are guilty of being slaves to money).

Be positive, Don't complains

THE PERSON WHO COMPLAINS THAT HE OR SHE NEVER HAD A CHANCE PROBABLY HASN’T THE COURAGE TO TAKE A CHANCE. Thomas Edison once observed that the reason most folks don’t recognize opportunity when it comes along is that it is often dressed in coveralls and look like work. Often opportunity involves a great deal of work and a willingness to take a chance on something, the outcome of which may be uncertain. Eventually you reach a point when you must either accept an opportunity with all of its unknowns or else turn your back on it. No one can tell you when you have reached that point; you alone know when it’s time to make your move, to have the courage to take a chance.
by:Dennis Ng

The Rich Dad Television Show

THE SECRET

Rich Dad Poor Dad Robert Kiyosaki

MR SIM is my Singapore Idol

To me, my Singapore idol is Mr Sim Wong Hoo from Creative Technology who sponsor the Singapore Idols. He create the best sound card Sound Blaster ,ZEN Vision M and X-FI. Hope I have the chance to meet him one day. Do you think he deserve to be my Singapore idol? http://www.creative.com

Singapore Idols

90% of people think Singapore idols is this young and pretty Girls and Boys who sing well.

Convenient and Inconvenient

Convenient means easy , It is easy to be broke cause everything is so easy. You just pay and spend till you broke. No hardship at all. Everybody like convenient that is why people choose convenient end up broke.

Inconvenient means difficult, Always difficult to build wealth cause a lot of inconvenient. You got to challenge with others, think of new ideas, accept NO, save money...etc... Spend money is so easy and happy. Saving is so difficult. This is one of the steps to create wealth, AGREE ?

For Example: Credit card gives you so convenient credit to spend. The more you spend the more broke you get into plus the high interest.

For long term. Create your money making machine that gives you passive income every months. Spend your passive income ( other people hard earn money) rather than credit card or other money with high interest. You will be the slave to the money/credit if you cannot pay up. You control money, don't let money control your life.

BE HUMBLE-Don't judge the book by the cover.

There is a Shopping Complex manager who bring his boy walking around the complex during weekend. His little boy keep throwing the snacks and tissue paper on the floor of the complex. There is an old man with his old t-shirt and faded shorts while watering the plant at the complex saw it. So, the old man quickly go and tell the little boy not to littering the complex in a nice way. Then the boy quickly run to his dad who is the Manager. The manager raise his voice saying" Don't teach my son what to do" . The old man reply said is is not very nice for the little boy who keep throwing tissue and snack on the floor although I pick up so many times . Then The Manager said , do you know that I am the manager of this complex? You go back and water your plant, if not I will make sure you will be terminated.

Then old man walk away, 5minutes later the Manager receive a call ask to go to the office immediately. The manager surprise to see the same old man in the office. The Manager was stunt by hearing that the Directors address the old man "BOSS" because he is the owner of the big company who own this complex. The old man said to the manager, from tomorrow onwards, I do not want this manager to work for me anymore".

The Moral of the story is...be humble and don't judge people what they wear or what they do.

MONEY MAKING MACHINE

What is money making machine? Central Bank printing money ? To me MONEY making machine means passive income. How many people can survive without a job ? How long does your savings last you? Build your money making machine that gives you every month passive income.

5 Keys To Financial Freedom

People in Common

After reading many books, attending many seminars and my observation of all the successful people in the world, I discovered that there's several things that differentiate them from the rest. That's how they stand up from the rest and become successful. Here're the things that successful people share in common: 1. they know exactly what they want and their purpose in life. Most people are not "outstanding" becos they have not really thought through what do they really want. They ended up just drifting through life with little purpose and end up not achieving much. 2. they have a burning desire (passion) in what they have chosen to do (purpose). Most people do not achieve success not becos they are not smart enough or anything like that. Most people do not achieve success becos they "give up too soon". Successful people have a burning passion in what they set out to do. In fact, they might even be ridiculed for what they "dream" of doing when they initially started. And they had "many failures" before they finally tasted success. I can just name you a few examples and you would know all these people were ridiculed for their "dreams" before they finally made their dreams a reality. eg. Thomas Edison (who tried inventing light bulb), Wright brothers (who tried to invent a flying machine), Henry Ford (who tried to invent a horseless carriage), Walt Disney (who wants funding to build "the happiest place on earth" - Disneyland), Alexandra Graham Bell (who tried to make people talk through long distance through wires). Locally, Sim Wong Hoo who tried to make computer play fantastic sound. What is the driving force that kept them going and going when others have given up? I discoverd it is becos they have immense passion for what they set out to do. 3. Not only do they have immense passion, they also have "strong belief" in themselves. As Henry Ford said:"Whether you think you can or you can't, you're right". They have strong belief in themselves even when doubt surrounds them. 4. How they view failures is also a main reason for their success. Most people "avoid failures". When they fail, they might try again for a 2nd time. Most do not try the 3rd time, and rarely do people try for 4th time after 3 attempts. I discovered that successful people have a different way of looking at failures. They treat failure as "feedback" that they need to try to do it differently. For instance, when Thomas Edison was asked how he felt about his 9,999 times of failing to invent the light bulb. He corrected the reporter that he found 9,999 ways of how not to make a light bulb light! To the successful people, the only time they really fail is when they give up. So they know that as long as they don't give up, success will be theirs, sooner or later. 5. Please note that successful people don't keep repeating the same mistakes. While majority of people tend to repeat their mistakes. For instance, people keep falling for scams even when the "modus operandi" of scams have been known for ages. When they fail, successful people know there's no point doing things the same way they tried before, they would make some changes and try again. Remember, the definition of "insanity" is to keep doing the same things and expect a different result. 6. Successful people keep learning and they don't rely on themselves alone. They know how to "leverage" on other peoples' experiences, knowledge, expertise etc. For instance, Henry Ford is not a "technical expert on cars", he just assembled a team of "experts" and tap on the experts' knowledge, experience, expertise to make a better car. 7. Successful people are very clear of what the end result they want to see. They have clearly painted "picture" of the end result. In fact, they are so clear of the end result they want that they can even describe clearly how it would look like so as to gather support for others to support their dream. As Albert Einstein said:"They can "preview" the future. And in their mind, they can already picture themselves achieving what they want even when many people said to them it is impossible. The best thing is that everyone can be successful in whatever we want to do. Here's wishing everyone out there success in whatever you want to succeed in.

By: Dennis Ng

The Secret to Money, Wealth, Rich

SMOKING is BAD for Health & Wealth

Learn how to SMOKE ? Think twice. Is really bad for your health and wealth too.

Example: $10 a packet x 365 days (a Year) = $3650 Confirm lost

not included interest% and hospital bill in future.

How To Create Wealth Using Secrets of Millionaire Mind

Mr Li Ka Shing

Age: 78

Fortune: self made

Source:Diversified

Asia's richest resident. His fortune is centered on conglomerates Cheung Kong and Hutchison Whampoa. Through them Li is the world's largest operator of container terminals, a major supplier of electricity to Hong Kong, a cell phone provider, retailer and real estate developer. Also has a nearly $10 billion stake in Canadian oil company Husky Energy.Eldest son, Victor, helps run massive empire; son Richard struck out on his own in early 1990s. Once a poor immigrant, Li got his start selling plastic flowers in Hong Kong in the 1950s. Source:Forbes.Li Ka-shing was born in Chaozhou in the Guangdong Province, China in 1928. In 1940 the Li family fled to Hong Kong to avoid the turmoils in China.[5] Li's family stayed at the home of his wealthy uncle. The arrogance of Li's uncle with his immense wealth ignited Li's determination to make a place for himself in the world.Li's father suffered from tuberculosis and died in Hong Kong. Shouldering the responsibility of looking after the livelihood of the family, Li was forced to leave school before the age of 15 and found a job in a plastics trading company where he labored 16 hours a day. By 1950, his hard work, prudence and his pursuit of excellence had enabled him to start his own company, Cheung Kong Industries. From manufacturing plastics, Li led and developed his company into a leading real estate investment company in Hong Kong that was listed on the Hong Kong Stock Exchange in 1972.

Teach your Children

Teach your children to fish.

If a person always received money,

they do not know how to make money.

teach them how to fish instead giving them the fish all the time

MY IDOL Mr LI Ka Shing

My Idol

Mr Li Ka Shing........ Hope I can meet him one day in Earth.

WORKING LIFE

A Normal Person have only 20 to 30 years working life average .Take this opportunity to keep/save money.
1. Look beyond the CPF
2. Don't let your lifestyle outpace your income
3. Know how to replace your paycheck

GROWTH your wealth

If you have 10 beans, you cook all the beans and eat. In the end, you left nothing. If you cook 5 and take another 5 to grow, in the end you will have more and more beans to eat. You will enjoy watching it grow

Human weak point

The Problem is ,

many of us BUY things we don't NEED,

with the MONEY we don't have ,

to impress PEOPLE we don't know.

How to determine if you're Wealthy ?

Multiply your age times (x) your realized pre tax annual household income from all sources except inheritances. Divide by 10 . This, less any inherited wealth, is what your net worth should be.

Financial Freedom

NEVER USE FUTURE MONEY

When I was 18 years old after taking my freedom key I described myself "Enjoy myself first" strategy, which works fantastic in a short term because I'm able to spend what I don't have, but in the long term let say $10,000.00 x 8% interest for 20 years end up about $46,600.00 . This is where being frugal comes in once i realise it. ........

Live below your means

Work Hard + Spend all = End up nothing

Work Hard + Save = End up nothing due to money devalue

Work Hard + Save+ Invest = You wealth will remain or increase

MONEY LAWS

In Personal Finance or Financial Freedom . “Financial Principles” which are as useful and practical today.I’ve personally benefited tremendously and applying the principles therein and have experienced improvement in my own finances. Knowing and not doing it, is not yet knowing”. For example, You know that exercise is good for your Health yet many people are lazy to exercise. Knowledge is only POTENTIAL power. Knowledge is ONLY power when APPLIED. 1. Money comes gladly and in increasing quantity to any person who save at least 20% of his/her earnings (first step to Financial Freedom). There are only 3 Cashflow Scenarios: a. You spend more than you earn: This person has negative cashflows, spending future money and likely to end up owing other people money (eg. credit cards, friends, relatives, loan sharks). b. You spend all that you earn: whether this person is earning SGD$500 a month or SGD$300,000 a month, he/she is still "Just over broke". c. You spend less than you earn (eg. save 20% or more of your earnings if possible). as time goes by, this person will automatically get richer and richer. I read SUNDAY TIMES this rich man say “every dollar you earn, do not spend more than 30cents” .Which cashflow scenario do you want to CHOOSE for yourself? 2. Money can work for you, if you become the “wise owner” of money and make money work for you. (note: you’re the Master, money is the slave, while many people are guilty of being slaves to money).

WHY PEOPLE SAY AN ENTREPRENEUR IS NOT A GOOD EMPLOYEE ?

Entrepreneur is a lousy employee. No need to honey-coat this one. People who start their own businesses tend to have been sack or resign more than one job. I'm not saying you were lazy or laid off for lack of work or moved from one job to a better-salary one. You were asked to leave, or you quit before they could terminate you. Think of it as the marketplace telling you that the only person who can effectively motivate and manage you is yourself.

Entrepreneur couldn't work for someone else, I don't mean that in a negative way. I have a friend who is now a Millionaire have the same experience mention above. When he was 18 he work as an assistant Photographer with a salary of $300 only. All the other Photographer is earning double or triple salary from him. He end up learning nothing just like cleaning up the studio every morning, used as delivery boy by sending film and photo using his personal motorbike(no bike allowance given) . He was sack due to asking for higher pay after the second month.