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.