Dec 6 2010, 10:18 AM
QUOTE(andrewckj @ Dec 6 2010, 01:10 AM)
Well, that's human. It's always the 80 20 rules. 80 % of the world wealth are control by the 20% people in the world. Same as it goes for investment. Many humans tend to rush things which they did not realize because 80% of the people are the doing the same. For instance in investment, most of it will look for short term, hoping to make quick bucks within days where they thought they will reap the fruits the moment they start investing. That's a wrong mindset because when we talk about investment, it's about a journey to learn how to grow your money better.
Oh well, humans, just look at the youngsters nowdays with a salary ranging from RM 2 - RM 3.k. Love to drive fanciful cars, eat luxury food, indulging into starbucks coffee and go for premium night spots. They have got no financial planning, no intention to save up money initially. Don't talk about saving some portion of the salary, how many could actually spend within their salary. You can already call themselves good without overspending their salary but sadly, most of it or again 80% wont be able to do it. They resort to their credit cards especially when then running low on cash but still want to carry on such luxurious lifestyle. Debt is piling up upon debt due to minimum payment with interest compounding everyday but they just won't change their lifestyle. Now you have a rough ideas why banks are doing so good in their business? They earn the most from the credit card late payments and thats why banks encourage spending with credit cards
Why all this is happening? Reasons? Simply because they find the the "comfort in numbers" because majority (80%) is doing it, so it alright to follow suit. Why a fresh graduate complaining RM 1,600 is not enough to survive in a city when the fresh graduate can choose to fine tune his lifestyle. Who's on earth says that when you get a first job you must buy a car as your transportation mode. Can't you just ride a motorcycle. And if you don't have the budget, don't spend so lavishly especially on your meals or perhaps considering eating just bread to get your initial money to invest. But can everyone do it? Again, it's the 80% 20% rules.
Many people got confused with the meaning of "wish" and "want". If you wish for something you might not get it or wont get it, but if you really want something, you will definitely work it out. What majority doing the most isn't always right. As the saying goes, "two roads diverged in the middle, and I take the road less traveled by and it made all the difference. Even Warren Buffet quoted "When most of the people are excited in the market, you should exercise cautious and when most of the people are afraid in the market, that's the time you should be excited.
So which category you wan to belong to? The 80% or 20%? I'm sure you guys know which category does Warren Buffet belongs to
good say man ! totally agree, nowadays people dunno how anything about financial planning, because the school and parents didnt teach !Oh well, humans, just look at the youngsters nowdays with a salary ranging from RM 2 - RM 3.k. Love to drive fanciful cars, eat luxury food, indulging into starbucks coffee and go for premium night spots. They have got no financial planning, no intention to save up money initially. Don't talk about saving some portion of the salary, how many could actually spend within their salary. You can already call themselves good without overspending their salary but sadly, most of it or again 80% wont be able to do it. They resort to their credit cards especially when then running low on cash but still want to carry on such luxurious lifestyle. Debt is piling up upon debt due to minimum payment with interest compounding everyday but they just won't change their lifestyle. Now you have a rough ideas why banks are doing so good in their business? They earn the most from the credit card late payments and thats why banks encourage spending with credit cards
Why all this is happening? Reasons? Simply because they find the the "comfort in numbers" because majority (80%) is doing it, so it alright to follow suit. Why a fresh graduate complaining RM 1,600 is not enough to survive in a city when the fresh graduate can choose to fine tune his lifestyle. Who's on earth says that when you get a first job you must buy a car as your transportation mode. Can't you just ride a motorcycle. And if you don't have the budget, don't spend so lavishly especially on your meals or perhaps considering eating just bread to get your initial money to invest. But can everyone do it? Again, it's the 80% 20% rules.
Many people got confused with the meaning of "wish" and "want". If you wish for something you might not get it or wont get it, but if you really want something, you will definitely work it out. What majority doing the most isn't always right. As the saying goes, "two roads diverged in the middle, and I take the road less traveled by and it made all the difference. Even Warren Buffet quoted "When most of the people are excited in the market, you should exercise cautious and when most of the people are afraid in the market, that's the time you should be excited.
So which category you wan to belong to? The 80% or 20%? I'm sure you guys know which category does Warren Buffet belongs to
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