Being rich is sometimes about forcing yourself to do something – a WILL to do it. Most people will create excuses NOT to do something and that’s the main reason why people do not jump into the risky zone and do something different. I grew up in a family where we do not manage our finances. Well, we have not much to manage anyway. My parents divorced due to financial problems and as I grew up with my aunt, she always advised that I study hard, get good grades and get a good paying job. In school, I was asked NOT to hold the position of a treasurer because refrain from money means refrain from managing it. I was told money does not grow on trees and of course, money is the root of all evil! Sounds familiar? Way back before year 2000, my “financial blueprint” was a map to the poor and middle income group. Very often, I always said these:
- I must work hard for money
- Money doesn’t come easily
- Money was the culprit for my parents divorce so money is evil
- Having a lot of money means greed
- Business is for the greedy people
- Investments are risky
- A steady, well paying job is enough to survive
- If I save enough, I will be well off till retirement
- My EPF savings will sustain the rest of my life
- If I don’t invest, I won’t lose money to risky investments
- Fixed deposit is the safest guaranteed investment
- Mutual fund is the second
- People always lose in the stock market
- Since I won’t do business or involve in money, I don’t like reading books on these subjects
Twist of fate landed “Rich Dad Poor Dad” on my hands in 2003 and the list of books I read changed. From 2003 onwards, I read so many books about finance, business, investments and managing money that I can start sharing my knowledge “theoretically”. I realised that it is my THOUGHTS that determined my FEELINGS towards the subjects of money. It led me to ACTIONS avoiding these books and the RESULTS was poor financial knowledge. I need to start from the THOUGHT process. Not only do I read, I researched and listened to audiobooks. It was sometimes difficult to understand Americans when they speak, and my hearing wasn’t good. I was born with hearing defect on the left. Yet, when my friends are busy listening to radio on the way to work, listening to the latest music and songs, I listened to audiobooks. I’d asked my employers to sponsor my seminars like property investment courses and seminars on stocks and options. I even sent sms-es to family and friends asking for “sponsorship” to attend these courses. At times, believe it or not, I attracted to me free tickets of seminars I really really wanted to attend and learn. I changed my thought process.
- I must work hard for money – or should money also work hard for me too?
- Money doesn’t come easily – how do I attract it to come easier?
- Money was the culprit for my parents divorce so money is evil – come to think about it, it is really the “lack of money” that’s the culprit. If I’d avoid finance problem, I should first face it, make it, manage it!
- Having a lot of money means greed – If I can’t be rich and successful, how can I inspire others to be rich and successful as well? Why must money means greed? Money is a necessity for all people, so is everyone on Earth as greedy?
- Business is for the greedy people – I later realised, if there is no bread business, I will need to knead dough and bake a bread everyday. If there’s no food business, then I will need to cook all my meals. Business is an exchange of money for services and products that we need, in turn generating cashflow. That’s economy. So if I choose to be in business, I must ask myself, what goods and services should I provide to add values to people’s lives? Business is not that bad after all, eh?
- Investments are risky – Even walking across the street can be risky, but I do know how to watch for cars or cross with the pedestrian bridge to reduce risks. So, how do I minimise risks if I were to invest?
- A steady, well paying job is enough to survive – It doesn’t take more than a calculator to prove this wrong
- If I save enough, I will be well off till retirement – If I want to retire early, I will need to do more, make more and put my money to work harder too
- My EPF savings will sustain the rest of my life – will it really?
- If I don’t invest, I won’t lose money to risky investments – If I don’t start managing risks, I will end up risking more in a job, “secured” investment and EPF
- Fixed deposit is the safest guaranteed investment – but not a buffer for inflation. If I want to beat inflation, there must be a better way. If I need to retire early, there must be a even better way!
- Mutual fund is the second – If high risk high return, why don’t I take some risks, educate myself by attending more seminars and courses to learn how to manage risks?
- People always lose in the stock market – People lose and make money in stocks, people also lose and make money in business. I have also seen people lose and make money in properties, as well as made money in a job to end up losing all in expenses. Do I stop doing everything?
My “financial blueprint” is now very different and that should be the starting point of all riches. I’d recommend everyone to attend the Millionaire Mind Intensive, an intensive 3-full-day (may start as early as 9am to 10pm EVERYDAY!) to change your financial blueprint. I’ve done that, attended more than 3 times and even changed my political blueprint there too.
(Yes, I know many typical minded people will say, “But I heard the trainer will sell you courses there.” I am more concern of what I will LEARN than what the trainer will sell. I always believe I can learn in every situation. Even when the trainer was selling his courses, I was quick to realised that they actually had a template and the same selling method could be used in my daily life. I always identify if I am being sold or whether I really wanted to buy the products/seminars.)