How to become rich in a bad economy

Are you sick and tired of being poor and running the rat race?

How would you like to be in the same class as the rich? Living in big houses like they do and moving around in big cars? Giving to charity like they do?

Would you like to live a life that is free from financial worries? Are you dreaming of retiring at a young age?

If you have the above dreams, you are on your way to becoming The Final Winner in the race to financial independence and early retirement.

But first, you need to know the answers to these questions:-

1. What are the assets that they rich have?

2. What is the practical difference between the poor and the middle class?

3. How to avoid operating your finances on the red line, as in our car speedometer?

4. What is Einstein’s greatest mathematical discovery of all time, and, how can you use it to become very rich?

5. What is the cost of your procrastination worked out mathematically?

6. There is only one way you can retire. What is it?

7. What causes the downfall of rich and powerful people and, how can you avoid it?

8. How can you break the “three-generation curse”?

All these questions, and more, are answered in Andrew Chia's e-book The Final Winner which you can download by clicking on this banner,



The Final Winner - Make Your Vision Come True


The proceeds from the sales of this e-book will go towards the development and marketing of CharityMalaysia.com, Malaysia’s first online fundraising and donation portal.

Concept of Industry Standard

Industry standard means a product or service that is used by the most people in the industry. Using "industry standard" means you can be cost-effective on the things you buy, and spare parts will be easily available.

I was first exposed to this simple idea while my partners and I were working on our IT project in the 80s. Our supplier who is also our schoolmate, Rico Ho, taught us the importance of being "industry standard".

Rico, being a programmer, said that the industry standard (at that time) was dBase. The advantage of using dBase was that he could easily find other programmers who are well-versed in dBase to edit or build on his works.

If you buy expensive things like a house or a car, for example, it is important to bear this in mind. Say, if you buy a town house or some kind of duplex, you may find it difficult to sell because most people prefer standard things like terrace houses or condos. And, if you buy a house with a number 4 in your address, you will find that you can only sell to the Malay market.

If you buy a Toyota or a Proton, the price will be cheaper. Spare parts will also be cheaper because they are easily available.

This idea applies to other products like electrical items, furniture, computers, mobile phones and software.

So, next time before you make your purchase, bear in mind, "industry standard".

Scarifies.........

Why do we scarified? We scarified something because of some trade-off or somebody close to you or your love ones. But then why does this happens?

Betrays...........

What is betrayal? This kind of situation happens commonly in our life, whether it is personal life or business partnership. But today we will talk about betrayal in business partnership, very often the partnership kick-off with a very positive manner. Most partnership started with close friends, relatives, brothers & sisters or even parents, and they all started to plan on how to run the business, who to do what and mostly technical issues.

But then a lot of businesses failed to plan the life span of the business, the changes of the life styles of the partners and the withdrawal plan. As the business runs, competition sets in, market forces are causing the company to evolve or the partners plan for the evolution. Then sooner or later it will reach a point when times will be very tough or very good. The problems start to surface, politics sets in and changes are an eventuality. Why this happens?

Simply because, at the beginning of the business, and the partners failed to forecast the life span of their business or partnership. Why do we need to forecast the life span of the business? Because as time goes by, life styles and needs changes, some might have a family commitment or some might want to pursue their interest after making some money. But all these factors are not taken into account when they start the business.

They will put in their love and passion to run the business. As years goes by, changes in the market as well as the partners’ life styles become visible. They will try to toggle between personal life and business. Because they are running the business with love, they will get emotional upset when things do not go their way, when there is love, there is hatred. Then finger pointing will starts and the feeling of betrayal sets in. A lot people have the misconception that their business is their baby and they fall in love with it and very reluctant to let go of it even though it is a sinking ship.

If they runs the business with only winning and losing in mind, and a mature attitude towards losing, then betrayal does not happens in the company, unless your partner is going after your wife. Then it is your wife that betrays you and not your partner…..

Life's Goals

We all attend motivational courses at least once in our life time, but a lot of people would have attended numerous courses. And after awhile it is more like an addiction towards these courses, it happens most often to people who seek career in the insurance industries and direct selling business. Are these courses beneficial to the attendees? Most people will give a solid yes without even a blink of the eye, why? Because all attendees will feel recharged after the course and energetically continue to pursue their career, this is very great, but then if we look deeper, motivation shall come from within ourselves. And what is within us? Then it boils down to the goals in life, which is the most favorite topic of all motivators, goals setting.

They will ask you to list down what you want to achieve and by when? Everybody will start to take a pen and paper to write down what they want, and most of the time is mostly material objects, like cars, houses, vacation and so on. They start to work on it and achieve it, then the car is not big enough and the next goal is to acquire a bigger, and will never end. One day this person will sits down and ask himself, did I achieve success in life?

Then he will ask himself what success is and what are the goals in life? This is an age old question in life, but there is no definite answer to it. But if we look closer into ourselves it is all about having a good life and always feels good about it. Very vague isn’t it, but nobody can answer it, to answer it, we need to look into the seven goals in life.

1. Financial Goal – By achieving financial goal does not means an enormous sum of money, but is about achieving financial freedom.
2. Physical Goal – Is about having a good health to see through your life time. And this good health will gives you the energy to carry out your missions in life.
3. Family Goal – Are you having a healthy and a happy family life?
4. Mental Goal – Are you acquiring new knowledge, keeping abreast with changes in our world, and using this knowledge?
5. Human Relation Goal – Are you having a good circle of friends, and this circle of friends will always welcome your presence?
6. Social Goal – Are you contributing for the good of the societies, and helping the needy, which in short is, are you philanthropy?
7. Spiritual Goal – This come into play, for you to attain a peaceful self, do the good things in life, as all religions teaches us to be good and morally strong.
   

Only by attaining the above seven goals, then only we can consider ourselves to be having success in life, and there is no yard stick or bench mark to measure it, it all comes from within us.

Consumerism Pattern

What is consumerism pattern? It involve how we buy things, how businessmen sells their products. The consumers' patterns mainly revolves around our desires, thoughts, emotion and skills and behavior towards SEX( Scheduled/Spontaneous Emotional Experience) also plays a role.

Consumerism is define as an over indulgence in consumer spending which give rise to consumers buying unnecessarily.

How a selling process starts? It all started when somebody have something to sell. This person who has the things to sell will crack his head on how to sell it. The sellers will always create or trying to convince you that you needed their products and hence, gives rise to impulsive buying. The person who sells what people needs will most probably end up poorer than people who sells what people want.

What is buying? The process starts when a person have a needs or wants to purchase a certain item which he feels is necessary. This will give rise to impulsive buying when a person in confused between his needs and wants. This emotion will motivate or initial him buy the product. But after careful analysis on the function of this product, and how it will help him in his daily life, very often we will found that this particular purchase is more of a need rather than want.

When we are motivated into buying items based on emotion, the joy of having it is quite short live. This will generates further desire to purchase an upgraded version of the model which have features which you feels that you needed it.

All human beings have invisible floodgates within them; these floodgates control their emotional, thoughts, skill and desire. The emotional floodgates control how you feels towards someone special, how emotional you feel to an object or ideas. If your emotion is controlled, this person might not be able to feel your love; this will caused numerous problems in a relationship, whether it is marriage or business partners. This paper will only touch on business activities only, however, the way we handle our business will indirectly affect the way we handle our personal affairs.


A lot of businesses faced problems because the owner makes too many emotional decisions and too emotional attached to their ideas and business plans. Emotion should practice with care and considerations an over flow of emotions will give unnecessary stress on the business. Example; when a project had faced with some hitches. The project manager thinks of a method that can resolve it, but then numerous factors had pointed that his idea cost too much and might not be effective. But, this project manager is too emotional attached to his idea and force a go ahead, if the idea pulls through, but at what cost, if not what are the consequences? This is a case of unable to control their floodgates of emotion.

The Overlooked Subject

Financial intelligence is a subject not taught in schools.

Mathematics and Science are subjects. History and Geography are subjects. The Languages, Arts, Physical Education, Engineering, Law, Medicine, Agriculture and Architecture are subjects. Even Beauty and Skincare, Flower Arrangement, Hairdressing and Auto Maintenance are subjects.

Subjects take TIME to learn. It can take anything from 6 months, for example, Flower Arrangement or Ancient Massage, to 20 years. To be a doctor you have to go to school at age 7 and graduate at age 27. We are not born to know subjects, unless we are geniuses. Even geniuses like Mozart still have to study the Music subject formally.

There is one critical subject that is not taught in school. Neither is it taught anywhere outside the school. That subject is called Financial Intelligence. Some professionals mistake this subject as Accounting, Financial Management, MBA, Economics, Management, Commerce, etc. No, these subjects may be part of the syllabus of Financial Intelligence but they are not the subject. Financial Intelligence teaches us things like Assets and Liabilities, the differences between the Rich, Poor and Middle Class, and Investing.

Just like any other subject, Financial Intelligence takes time to learn. Contrary to what most people believe we are not born to know this subject.

We do not know whether this subject is as important as Medicine, Engineering or Law. But one thing is certain; not knowing this subject may cause a lifetime of hardship. One who has mastered this subject will have the power to do good to mankind. In 2006 Warren Buffett donated 85% of his wealth of US44 billion towards charity.

Financial intelligence is an overlooked subject.