Bro.. can you share your experience with us how you gonna become financial independent? Would like to learn from you...

Interesting friend you have there. RM 15 millions by 27 years old is everyone dream. Im in a commodity industry also find it very difficult to achieve that figure. Max perhaps 10% of it by 27.

What do your friend do for a living? The only fast track I could think is big government tenders. But then execution is hard and sometimes a project can be a 2 years project. Some more need super strong connections with the bumis since they have the licenses.

Yes thanks for proving my point. It is a freedom of choice.

Exactly.

So a guy is born with a silver spoon. Does this make any of his accomplishments less intact?

That's is truly unjustified.

So we can say to all the rich babies, whatever you achieve in life whether it be building your own empire or winning your primary school race it doesn't matter-you were born rich so your achievements aren't worth as much.

Finally I have people curious about his job, and I commend you for that. That is how he got his wealth as well, he was a student of wealth as we all are-always learning.

Nah it's not commodities-commodities is a relatively "safe" industry so to speak but the returns need years to show a profitable balance. Also, you cannot make a lot of money FAST-by investing with low capital. Therefore, unless you are already rich-investing is usually second choice.

He has his own company-as do many rich people who made their wealth young without forgoing their lifestyle.. Again, I can't stress this enough. Being able to milk a money cow while living the lifestyle of your CHOICE-which gark missed this point completely-is the greatest happiness in life.

Basically he runs a few ventures, but his primary milk cow is a service he created which tells the prime franchise locations in any state of America and their future value as well. In laymans terms, if you want to buy a franchise and have a hard time finding the best location-this service will help you.

If you want to be financially independent slowly here are the steps:
i)Buy a secondhand car since it is going to depreciate anyway.
ii)Buy a cheap house and then sell it off when the property goes up-then buy an even cheaper house and save the excess for your bank.
iii)Cut expenses on all your meals, do not eat out if possible and never even THINK about that yummy looking muffin staring at you . No starbucks, no posh restaurants, no sushi, no dessert, no chops, nothing-even if you choose to. Not even chu char since a good chu char meal can cost up to 50 bucks one sitting. Store your cabinet with oatmeal and dried fruit and you had better enjoy it-regardless if you want to or not.
iv)No iphones or macs
v)Travel cheap and backpack or do not travel at all
vi)Do not waste your money on clubbing
vii)Put at least 50 percent of your earnings in fixed deposits or ASM
viii)Do not spoil your girlfriend or wives with lavish gifts
viii)Everything has to be a necessity. You will also have to give up freedom of choice.

Follow these steps and you will become a millionnaire by probably in your late 40s-depending on when you start. If you have a slightly higher income and have saved more you will probably have maybe 5 million by then. Now that you are 45, you can now retire and spend the rest of your life the same way using the money you saved until it runs out or you die.

If you want to become financially independent fast-NOT EASY,this is an important distinction. All those late night infomercials selling get fast quick is ACTUALLY get fast easy. There is no easy way. My mentor always told me-I don't need easy, I need possible-quote from Bethany Hamilton.

i)Start a active capital that reaches scale and magnitude. This is key. A corner Ramly Burger store won't do nor will a curry puff outlet.
ii)Start a passive capital that has high capital. This is also key. But for this to happen (i) must happen successfully first or you can be silver spooned blah blah.

And then follow the previous steps stated before if you CHOOSE to. Or you can buy all the macs,iphones and muffins you want-it will be your choice. A critic once told my mentor-hey you are so stupid buying a porsche, that thing will depreciate fast. He just smiled and said, " Yes I know and I can handle the depreciation." Choice and Freedom. The two most beautiful things ever.

So buy a t shirt from batu feringgi costing 7 bucks or buy a ralph lauren in 15 different colors, you wouldn't worry when you have a healthy enough stream to choose.

This is the income earning side don't forget. Of course no matter how much you earn whether it be 1000 or 100 000 you must never live above your means-this is common sense and you must always have a reserve in case things go sour-this too is common sense. What is not so common is how to earn more cash.

This post has been edited by Beachkid: Jan 12 2013, 06:17 PM

beachkid,

To the true, I'm agree with your statement, I had been crosses the field previously with the real world, it is totally different with what we had been taught in the school.

To your knowledge, I have several friend, age 21 year old only but yearly passive income generated from the business worth $150,000, real estate $20,000 monthly, and what more, he gained it by his own sweat, from nobody to somebody and not from any in heritage or luck. It you admire him, just set your goal for it, and go for it.

"有梦想就要敢敢想，敢敢做。很多时候，不是他比你会做，与他只是比你敢做"

You too will be rich someday if you continue having this attitude.

Yes, out of sight out of mind. I actually have told people before on some trips I have made about people below 30 making a fortune and some people have even outright called me a liar to my face.

It's sad that for them, this reality does not exist. It is like telling someone you know of a person who can fly. They cannot comprehend how a 20 something year old can be a millionaire without being:

i-born in a rich family
ii-winning a lottery
iii-selling drugs illegally and exempting tax
iv-or any other silly excuse

However, when you find that "group" and you mix with them your reality starts to change. This is my reality, and nothing people say or do can change it. That is why I am at peace now when people call me a liar or a spoiled child. Doesn't change anything.

are you sure bro? most of people graduates at 21. There's no way he/she can gain his wealth that fast unless he started at a very young age. please enlighten me.

I think the system is called " law of attraction', surround yourselves with positive mindset people, it is say have some kind of magnetic field and behavior which will influence our behavior and mindset, a prudent in the field of business and professional career such as insurance.

No, it not a liar, it just they don't believe themselves and their capability, they should think if a person capable of earning $3,000 per month fixed salaries and able to produce these salaries, of course their superior think it worth the price and capable to increase the return more than that by their services. I believe we all have something in common, a birth certificate, our birth certificate written very clearly about our place of birth, races and so on. But our birth certificate never written in the first place that we cannot earn an income of $1,000,000 per annum in young ages, if they're not believe, they're not going to do it, if they're not going to do it, they're not going to achieve it with the right plan to execute. anyway, good luck on your journey to find your destiny

Qwertyuioped,

Yes, i'm sure. You just have to make more friend in the real world, especially those youngster who relay on their effort to earn their income without a basic salaries, the world is a very big place. The hardest enemy always yourselves, your mindset, behavior and actions.

He start his business in direct sales at the age of 17 year old, earn an income around $150 per month at that moment as a part time, then change his career to insurance, and real estate at the age of 18 once he finished his secondary school, and venture into business and property today. If you check the list of singapore and malaysia, there's always a lot like these kind of man. Let back to topic, because I do not wish to comment too much because it not the main topic.

You may search google, "Dumbing Us Down" by John Tailor Gatto, and may read it if you wish too, then you learn something from it. Have a nice day.

This post has been edited by adolph: Jan 12 2013, 06:45 PM

Yeah they probably started young. i actually regret because when I was a teen and young adult I was partying and just having fun. Sure I studied and worked hard on my part time jobs but I definitely was not focused on financial freedom.

http://www.retireat21.com/interview/interv...ting-super-star

Take a look at this fella.

Earning 300 000 a month. His age? Nineteen

Do you think he has to eat oatmeals everyday to get to this stage? No? I guessed so.

I do all u mention above, true I slowly financial independent, but how can I get 5 milion by then? I calculate max I can grow to 2 million max. I noob need advise lo.

An old man , millionaire just tell me this Golden Rule

A person is judge is wealthy or not by how much he saves

A earn RM1k a month, he saves RM600 - he is wealthy
B earn RM10k a month, he spends RM12k - he is poor.

B earn 10x more than A.

B spends on fine F&B, Porsche Car, credit card, etc - every month he is in debt -RM2K

A earn less, he manages his money well as every penny is a hard earn and spend on neccessity.

This post has been edited by AAAABBBB: Jan 12 2013, 11:08 PM

What if B earn rm10k/month, save rm6k? Still have rm4k to spend a fine lifestyle?

In financial freedom, the key is to "save". Not to forget "increase ur income + save". Instead rm2.8k income save rm800, why not think how to increase ur income with 2x, 5x or even 10x and save rm800. Seee the difference.

What if B earn rm10k/month, save rm6k? Still have rm4k to spend a fine lifestyle?

In financial freedom, the key is to "save". Not to forget "increase ur income + save". Instead rm2.8k income save rm800, why not think how to increase ur income with 2x, 5x or even 10x and spend rm800. Seee the difference.

What if B earn rm10k/month, save rm6k? Still have rm4k to spend a fine lifestyle?

In financial freedom, the key is to "save". Not to forget "increase ur income + save". Instead rm2.8k income spend rm800, why not think how to increase ur income with 2x, 5x or even 10x and spend rm800. Seee the difference.

i do not agree. A birth cert in M'sia with the word bumi can buy up to max RM400K ASB with a return higher than 7%

i cannot buy


Count the ratio, if B is saving RM6K too, B is saving 60%, A is also saving 60% too. They are both wealthy.

Easy for you to say increase income by 2x, 5x or even 10x.

I want to live a honest living earning honest money. I no do illegal stuff rob ppl, lie to others or cheat ppl to increase my income.

I already doing my very best to increase my income by doing a lot of OT, part time, etc . I work till no see sun oledi. What else u want some more?

Do give some financial management guidance how to increases wealth not by investment. I few times hit the wall already lost much that is why I more defensive and go for savings more.

This post has been edited by AAAABBBB: Jan 12 2013, 11:25 PM

Easy for you to say increase income by 2x, 5x or even 10x.

I want to live a honest living earning honest money. I no do illegal stuff rob ppl, lie to others or cheat ppl to increase my income.

*is this true what u said?* hope this is just an excuse statement*.


I already doing my very best to increase my income by doing a lot of OT, part time, etc . I work till no see sun oledi. What else u want some more?

*U are a technician(correct me if I wrong). Have u thought of upgrade urself to become a service engineer or service manager? Service engineer can earn rm7k above, and mgr above rm10k. How much part time $$ contribute to ur earning that cost u to work no see sun?

Ur income limitation that drag u towards financial freedom. Invest something that related to ur skills for long term success. *
Perhaps, starting up a business related to ur service skills may increase ur income power.


Do give some financial management guidance how to increases wealth not by investment. I few times hit the wall already lost much that is why I more defensive and go for savings more.

*I have to agree u have positive attitude towards financial management. But ur main problem is ur income power.*

[/quote]

[quote=Gary1981,Jan 13 2013, 12:17 AM]

*U are a technician(correct me if I wrong). Have u thought of upgrade urself to become a service engineer or service manager? Service engineer can earn rm7k above, and mgr above rm10k. How much part time $$ contribute to ur earning that cost u to work no see sun?

Ur income limitation that drag u towards financial freedom. Invest something that related to ur skills for long term success. *
Perhaps, starting up a business related to ur service skills may increase ur income power.
*I have to agree u have positive attitude towards financial management. But ur main problem is ur income power.*


but dunno...I think working for company like a lot harder to earn $ compare to start business... I look at Ah Kau news paper seller also can become so successful..Still thinking is it worth to come out n start own business or not..I also think small coz $ not enough, like open a stall sell stinky tauhu at pasar malam, or start a small stall sell food like hawker. If sugar increse 10 cent per packet, drinks also increase by 10 cents and food increase by 20 cents..

So I think food industry can coupe up with inflation..

What I worried is if I start part time at pasar malam selling stinky tauhu, I may not have enough rest, then daily work at Technician may not perform and get terminated

.Becoming service engineer or service manager needs qualification..diploma in E&E .. To take a degree I need to study another 3-4 yrs..that cost me more $ need to get a ptptn loan or ownself fund....I completed my diploma ptptn loan

if think big F&B, I do not have enough $. I wanna open a McD near Kampar TAR, sure business good so many students around..How much needed fo open Mc D franchise? If not sell Ramly burger during night stall there not sure can em RM3k+ or not..

http://www.skorcareer.com/malaysia-eng/ent.../ahkaustory.htm

This post has been edited by AAAABBBB: Jan 13 2013, 07:27 AM

"It's your own job to make you rich."

I like this

It's not your boss' job to make you rich. It's not your parents' job to make you rich. It's not your spouse's job to make you rich. It's not your dog's job to make you rich.

http://www.skorcareer.com/malaysia-eng/ent...eneur-guide.htm


1. Stop doing what you are doing. In other words, take a break and assess what is working and what is not working. The definition of insanity is doing the same thing and expecting a different result. Stop doing what is not working and look for something new to do.

I wanna some sifu to advice..I want to take the first step above..

Priority

1. Continue my current job - Technician *blue collar - RM2800

2. Pasar malam selling stinky tauhu * small business, enough cash to start up. Night part time own business, still continue daily job as Tech to secure RM2800

3. Open a McD near Kampar TAR * Franchise require a lot of $. Any sifu got knowledge can share? how to do it? Quit current job as Tech

4. Open a Ramly burger store at TAR * small business, enough cash to start up. Quit current job Tech. Can burger selling earn RM2800+?

5. should I quit my current job, and be like Haji Tamin the famous kicap king....by start selling home made secret recipe cookies?

http://www.tamin.com.my/eng/our_story.html

This post has been edited by AAAABBBB: Jan 13 2013, 07:46 AM

Got read this too..Should I go rare chicken, duck,pig, goat or cow since it is higher 300% return compare to ASB 7%+ ?

http://www.skorcareer.com/malaysia-eng/ent...iesmalaysia.htm

5. Agriculture
　
The growth of agriculture industry in Malaysia is largely dependent on the wealth of natural resources in the country. In addition to contributing to GDP, employment and export earnings, the sector provides raw materials to domestic agro-based industries as well as food. The ministry of agriculture has provided a lot of incentives for the entrepreneurs in the effort to boost up the agriculture and the SME business. If done right, you can make it big in the agriculture business. For example, cow or goat-breeding business can allow you to gain a return on investment as high as 300%. That is higher than investing in ASB and Public Bank combined.

　

This post has been edited by AAAABBBB: Jan 13 2013, 07:59 AM

"It's your own job to make you rich." good one.