Friday, October 24, 2008

Thought from a millionaire and thought from a woman who married into millionaire

Note: Do not read this blog too seriously please!

Back from a good break holiday! I got the following article from one of my good friends by email. I read it, like it and blog it for everyone.

In this world rich people are so rich and poor are so poor. There is a middle people who is doing so so. I have seen happy millionaires and also unhappy millionaires. The same time, I have seen so many happy poor and unhappy poor people too.

Mr. Khoo said, He flys on economy class when he is travelling. Good for you M. Khoo. He continued .."That's why I am a millionaire." Well that's a good one. A person like him, a millionaire still saving is rare. I mean save so much that he even can't enjoy first class of flying is .....unbelievable. If this is make him happy I understand.

I would say, I honestly admit it that I always wanted to fly on business or first class. Am I bad for to feel like this way? If I am in Mr. Khoo's (by the way I love his name, KHOO) shoe, I will check my money and will go and flow along with it. I do not believe in burn it off. I would not love to fly on economy back home to USA each year which is such a pain in the.....????.(what ever you want to put in here). Koo said he used to save 80%. My way will be 50% save and 50% enjoy it.

Mr. Khoo said, most self made millionaires are frugal.

I would say, How true! I am living with one. Well to be fair Robins is thoughtful and loving father so I am satisfy with him. He does save, oh yes he save so much that sometime I can't stand it his way but I love him.

Mr. Khoo said, I happily pay 1300$ for my daughter education.

I would say, I agree 100% spending on education with Khoo. I was told, " Teach them how to fish than giving the fish". Well..some situations like, no matter how you teach them to fish but if there is no water, how could you fish? aha! No water, no fish la!

Mr. Koo said, I don't really find happiness for buying branded things..(clothes, jewellery..ta ta ta).

I would say, I hope Koo talking about only buying not to show off. There are two kind of people who love to have branded things. One, like to show off ! Two, Just wanted to wear it and feel good. Again I honestly admitted that I want Gucci watch, I want LV belts, ta ta ta ta...I do like them because they are well done, well design. I bet Mrs. Khoo has some of those. I do know as Khoo said...Rolex watch won't make me happy for a long time." Of course not! What make me happy is when I see my son and my husband at home with me, When I am with my good friends for lunch or tea, seeing my grandma is healthy, oh.... so many that make me happy. So much blessing which is countless.

I do not know Khoo in person but reading his blog, I feel that Mr. Khoo is a good, smart man and a happy person! He can be my Robins's hero. Good for you Mr. Khoo!

A Blog Posted by Singapore 's Youngest Millionaire

By Adam Khoo

Some of you may already know that I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia, Indonesia, Thailand and Suzhou (China). I am in the airport almost every other week so I get to bump into many people who have attended my seminars or have read my books.Recently, someone came up to me on a plane to KL and looked rather shocked. He asked, 'How come a millionaire like you is travelling economy?' My reply was, 'That's why I am a millionaire.' He still looked pretty confused. This again confirms that greatest lie ever told about wealth (which I wrote about in my latest book 'Secrets of Self Made Millionaires').

Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex, and sit on first class in air travel. This is why so many people never become rich because the moment that earn more money, they think that it is only natural that they spend more, putting them back to square one.The truth is that most self-made millionaires are frugal and only spend on what is necessary and of value. That is why they are able to accumulate and multiply their wealth so much faster. Over the last 7 years, I have saved about 80% of my income while today I save only about 60% (because I have my wife, mother in law, 2 maids, 2 kids, etc. to support). Still, it is way above most people who save 10% of their income (if they are lucky). I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money. However, I happily pay $1,300 to send my 2-year old daughter to Julia Gabriel Speech and Drama without thinking twice.

When I joined the YEO (Young Entrepreneur's Organization) a few years back (YEO is an exclusive club open to those who are under 40 and make over $1m a year in their own business) I discovered that those who were self-made thought like me. Many of them with net worths well over $5m, travelled economy class and some even drove Toyota's and Nissans (not Audis, Mercs, BMWs). I noticed that it was only those who never had to work hard to build their own wealth (there were also a few ministers' and tycoons' sons in the club) who spent like there was no tomorrow. Somehow, when you did not have to build everything from scratch, you do not really value money. This is precisely the reason why a family's wealth (no matter how much) rarely lasts past the third generation. Thank God my rich dad (oh no! I sound like Kiyosaki) foresaw this terrible possibility and refused to give me a cent to start my business.Then some people ask me, 'What is the point in making so much money if you don't enjoy it?' The thing is that I don't really find happiness in buying branded clothes, jewellery or sitting first class. Even if buying something makes me happy it is only for a while, it does not last. Material happiness never lasts, it just give you a quick fix. After a while you feel lousy again and have to buy the next thing which you think will make you happy.

I always think that if you need material things to make you happy, then you live a pretty sad and unfulfilled life.Instead, what make ME happy is when I see my children laughing and playing and learning so fast. What makes me happy is when I see by companies and trainers reaching more and more people every year in so many more countries. What makes me really happy is when I read all the emails about how my books and seminars have touched and inspired someone's life. What makes me really happy is reading all your wonderful posts about how this BLOG is inspiring you.

This happiness makes me feel really good for a long time, much much more than what a Rolex would do for me.I think the point I want to put across is that happiness must come from doing your life's work (be in teaching, building homes, designing, trading, winning tournaments etc.) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a life of meaningless__._,_.___

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