November 21st, 2008 by annie

A Blog Post by Singapore’s Youngest Millionaire

By Adam Khoo
On Money |

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, ËoHow come a millionaire like you is travelling economy? My reply was, Thats 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 Millionaire) . 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 Entrepreneurs 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 Toyotas 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 familys 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 dont enjoy it? The thing is that I dont 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 my 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 someones 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 lifes 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 meaninglessness.

September 19th, 2008 by annie

I’ve read from USAToday that babies can cause “Momnesia”. Probably caused by severe sleep deprivation and other stress factors, this is when memory becomes too blurry to remember where you placed your keys, where are the nappies you just bought and makes you ask silly questions like why can’t those socks stay together?? Forgetfulness can cause serious trouble especially on forgetting to strap the harness on when the baby’s on the highchair, or the belt is not securely fastened from the car seat before getting out of the driveway. Or when the faucet was left flowing while the bub is in the tub.

Although being scatter-brained sometimes give moms a push to always look after the baby. Momnesia makes most moms hypervigilant on other areas. “It turns you into someone who serves that little infant, to keep it alive no matter what,” says Brizendine, founder of the Women’s and Teen Girls’ Mood and Hormone Clinic at the University of California in San Francisco. “Other parts of your brain that are usually on high alert are sort of taken offline.”

On the article, moms shared their own momnesia moments. One mentioned that she woke up in the middle of the night cradling the baby by her arms. Her husband asked what she’s doing… the baby is in the crib!

I think this comes in package with motherhood. I know because I find myself forgetting some things lately. I always always forget my account passwords! But I just don’t think “Momnesia” should be considered an illness at all. I mean, motherhood is a tall job and when you’re working in an office, you come home and has a home to clean up, dinner to make and all.. then you hear your baby wailing for attention… women who are unprepared for scenarios like this won’t probably even remember her own name!

Although this is not the case for me because I am blessed to have a very supportive husband and family, and my office is just 2 steps away from my baby’s crib, I feel for those moms who are into difficult situations right now, juggling work, home and the baby without any support from anyone at all. Moms do not need memory boosters but extra hands when she’s got a baby to care for and a home to run. When a mom looks after so many things, she needs someone to look after her.

PR: wait…  I: wait…  L: wait…  LD: wait…  I: wait… wait…  C: wait…  SD: wait…