Do you think that being rich is destiny by faith, luck, religion, race, creed or anything else?
You can blame others, anybody or anything for not being rich.
Here, I will prove to you that being rich is an option, not fate.
Why?
In the book "Acre of Diamond", a guy was always looking for diamonds to be rich. He spends everything to look for diamonds in a faraway land and even sold his own house without realizing that the land that his house sits contains the richest deposit of diamond in the world.
To be rich, you don't have to look far just within yourself.
Here is the magic word that I will prove to you that being rich is an option: Saving.
But, you will ask me how to be rich with saving and how much to save?
I will answer the second question first.
How much yeah to save - The rich man from Babylon have provided us with wisdom over the century, just saved 10% of our income, regardless of income or expenditure. But, make sure that you pay yourself first. Whether you have enough or not you just pay yourself first. You yourself are responsible for your own wealth and financial well being.
You will ask why the magic number 10%. Surely the more the better. Wisdom of the century have shown that 10% is adequate as the remaining should be used for a better life - a better house, car and holiday - life is short, play hard. Saving more surely would be ideal, but that would make you a miser. The purpose of Saving would then be defeated.
Ok, now we go to the second question, how to be rich. It is by saving added to compounding. Saving is a "+", spending is a "-"...While compounding is a "power". So, in kindergarten, we learn about adding, in primary school we learn about multiplication and in secondary school, we learn about factoring and power. Let me show you what happens to the money when saving a"+" meets "power".
Believe meet, it explodes.
Say, I earn only RM 1000 a month, no pay increment but, I compounded my saving with 7% per year, it is like putting your money in "EPF", how much would I have in 10, 50 or even 100 years.
My saving = 10% of 1000 = 100.
Compounding = 7%
Multiplication = every 10 years double.
So, in 10 years i have = 100 x 12 x 10 x 2 = 24000.
So, in 50 years i have = 100 x 12 x 50 x 2^5 = 1,920,000.
So, in 100 years i have = 100 x 12 x 100 x 2^10 = 122,880,000.
See the magic of compounding the rich man from Babylon is right. See the effects of saving a "+" meets compounding a "power" in 10 years, 50 years, 100 years and how it multiplies.
I always believe in management by example as above.
"So, my dear friend becoming rich is a choice, not fairy tales."
Good luck and welcome to a rich and luxury life.
Sincerely,
Dr Lion
You can blame others, anybody or anything for not being rich.
Here, I will prove to you that being rich is an option, not fate.
Why?
In the book "Acre of Diamond", a guy was always looking for diamonds to be rich. He spends everything to look for diamonds in a faraway land and even sold his own house without realizing that the land that his house sits contains the richest deposit of diamond in the world.
To be rich, you don't have to look far just within yourself.
Here is the magic word that I will prove to you that being rich is an option: Saving.
But, you will ask me how to be rich with saving and how much to save?
I will answer the second question first.
How much yeah to save - The rich man from Babylon have provided us with wisdom over the century, just saved 10% of our income, regardless of income or expenditure. But, make sure that you pay yourself first. Whether you have enough or not you just pay yourself first. You yourself are responsible for your own wealth and financial well being.
You will ask why the magic number 10%. Surely the more the better. Wisdom of the century have shown that 10% is adequate as the remaining should be used for a better life - a better house, car and holiday - life is short, play hard. Saving more surely would be ideal, but that would make you a miser. The purpose of Saving would then be defeated.
Ok, now we go to the second question, how to be rich. It is by saving added to compounding. Saving is a "+", spending is a "-"...While compounding is a "power". So, in kindergarten, we learn about adding, in primary school we learn about multiplication and in secondary school, we learn about factoring and power. Let me show you what happens to the money when saving a"+" meets "power".
Believe meet, it explodes.
Say, I earn only RM 1000 a month, no pay increment but, I compounded my saving with 7% per year, it is like putting your money in "EPF", how much would I have in 10, 50 or even 100 years.
My saving = 10% of 1000 = 100.
Compounding = 7%
Multiplication = every 10 years double.
So, in 10 years i have = 100 x 12 x 10 x 2 = 24000.
So, in 50 years i have = 100 x 12 x 50 x 2^5 = 1,920,000.
So, in 100 years i have = 100 x 12 x 100 x 2^10 = 122,880,000.
See the magic of compounding the rich man from Babylon is right. See the effects of saving a "+" meets compounding a "power" in 10 years, 50 years, 100 years and how it multiplies.
I always believe in management by example as above.
"So, my dear friend becoming rich is a choice, not fairy tales."
Good luck and welcome to a rich and luxury life.
Sincerely,
Dr Lion
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