My kinda peeps! ;)
..the deepest end
What happens when you get thrown into the deepest end of the pool?
.
Tuesday, April 23, 2013
7 Millionaires Who Lost It All, but Came Back
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Sunday, September 2, 2012
21 Ways Rich People Think Differently
What if she has a point?
Steve Siebold, author of "How Rich People Think," spent nearly three decades interviewing millionaires around the world to find out what separates them from everyone else.
It had little to do with money itself, he told Business Insider. It was about their mentality.
"[The middle class] tells people to be happy with what they have," he said. "And on the whole, most people are steeped in fear when it comes to money."
Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
That's why there's a certain shame that comes along with "getting rich" in lower-income communities.
"The world class knows that while having money doesn't guarantee happiness, it does make your life easier and more enjoyable."
Average people think selfishness is a vice. Rich people think selfishness is a virtue.
The problem is that middle class people see that as a negative––and it's keeping them poor, he writes.
"If you're not taking care of you, you're not in a position to help anyone else. You can't give what you don't have."
Average people have a lottery mentality. Rich people have an action mentality.
"While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes.
"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."
"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."
Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.
"Meanwhile, the masses are convinced that master's degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness...The wealthy aren't interested in the means, only the end."
Average people long for the good old days. Rich people dream of the future.
"People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression."
Average people see money through the eyes of emotion. Rich people think about money logically.
"The world class sees money for what it is and what it's not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities."
Average people earn money doing things they don't love. Rich people follow their passion.
"To the average person, it looks like the rich are working all the time," Siebold says. "But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it."
On the other hand, middle class take jobs they don't enjoy "because they need the money and they've been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort."
Average people set low expectations so they're never disappointed. Rich people are up for the challenge.
Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.
BarackObamadotcom via YouTube
"While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it's a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results."
Average people believe you need money to make money. Rich people use other people's money.
"Rich people know not being solvent enough to personally afford something is not relevant. The real question is, 'Is this worth buying, investing in, or pursuing?'" he writes.
Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.
Investing successfully in the stock market isn't just about a fancy math formula.
"The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe," Siebold writes.
"This knowledge of human nature and its overlapping impact on trading give them strategic advantage in building greater wealth through leverage."
Average people live beyond their means. Rich people live below theirs.
"The rich live below their means, not because they're so savvy, but because they make so much money that they can afford to live like royalty while still having a king's ransom socked away for the future."
Average people teach their children how to survive. Rich people teach their kids to get rich.
He disagrees.
"[People] say parents are teaching their kids to look down on the masses because they're poor. This isn't true," he writes. "What they're teaching their kids is to see the world through the eyes of objective reality––the way society really is."
If children understand wealth early on, they'll be more likely to strive for it later in life.
Average people let money stress them out. Rich people find peace of mind in wealth.
"[The middle class] sees money as a never-ending necessary evil that must be endured as part of life. The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind."
Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
"Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they've used to educate themselves on how to become more successful," he writes.
"The middle class reads novels, tabloids and entertainment magazines."
Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.
"[Rich people] can't afford the messages of doom and gloom," he writes. "This is often misinterpreted by the masses as snobbery.
Labeling the world class as snobs is another way the middle class finds to feel better bout themselves and their chosen path of mediocrity."
Average people focus on saving. Rich people focus on earning.
"The masses are so focused on clipping coupons and living frugally they miss major opportunities," he writes.
"Even in the midst of a cash flow crisis, the rich reject the nickle and dime thinking of the masses. They are the masters of focusing their mental energy where it belongs: on the big money."
Average people play it safe with money. Rich people know when to take risks.
Average people love to be comfortable. Rich people find comfort in uncertainty.
"Physical, psychological, and emotional comfort is the primary goal of the middle class mindset," Siebold writes.
World class thinkers learn early on that becoming a millionaire isn't easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty."
Average people never make the connection between money and health. Rich people know money can save your life.
While the middle class squabbles over the virtues of Obamacare and their company's health plan, the super wealthy are enrolled in a super elite "boutique medical care" association, Siebold says.
"They pay a substantial yearly membership fee that guarantees them 24-hour access to a private physician who only serves a small group of members," he writes.
"Some wealthy neighborhoods have implemented this strategy and even require the physician to live in the neighborhood."
Average people believe they must choose between a great family and being rich. Rich people know you can have it all.
"The masses have been brainwashed to believe it's an either/or equation," he writes. "The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance."
Not everyone believes in the power of wealth....
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Tuesday, July 17, 2012
Secrets of the Millionaire Mind
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Sunday, April 29, 2012
7 Tips To Help You Become A Millionaire
Income Report: I’m A Million Dollar Blogger
By Yaro Starak August 27, 2010
Back during the early days of this blog I used to write income reports on a semi-regular basis. John Chow made the idea of reporting your blogging income popular, and before him guys like Darren Rowse and Shoemoney would show pictures of checks they had received from advertising programs like Google AdSense or affiliate programs. Today guys like Pat from Smart Passive Income keep the trend going, though most of the other guys have stopped reporting now.
There’s no doubt people are inspired by seeing how much money others make (I certainly was before I started earning much online), and for the person sharing their details, it’s great for the ego to talk about how well you are doing. It’s also beneficial as a practice to report income to monitor your trend growth rates and also see if you can sustain a level of income significant enough to live off long term.
I’ve often had people, especially those who work “normal” jobs, question the practice of revealing your income online. How much money you earn is considered one of the most private things you don’t tell even your friends or family, let alone the entire planet through the Internet. I personally don’t think income levels should be hidden, it could be a force for better wages if the knowledge was public, so I’ve never had a problem talking about how much money I generate. Plus it’s fun to report back your successes when you have them, even if it does seem a lot like bragging, which I think it is, but it’s great for social proof too.
How I Made A Million Dollars
It’s amazing for me to write this, but during the last two years I’ve generated over a million dollars in revenue online. What’s even more amazing is I did this without any full time staff and only one regular contractor.In Australia the tax year runs from July to June, and in the 2008-2009 tax year I made over half a million dollars in revenue doing what I do online. I was expecting the next year to be less because I wasn’t launching as many new things, but it turned out that I actually surpassed the previous year (just), though the profit was less (I bought a new BMW – that tends to hurt your profit a bit!).
Obviously profit is different from revenue, so I didn’t keep the million dollars I made over the last two years. For my business, tax compliance (the cost of setting up a new tax structure), outsourcing to contractors and affiliate commissions are the largest “expenses” I incur. In general I make about 70% profit (and tax comes out of that), which is incredibly high compared to most offline businesses. That’s what is so good about online business – the low cost structure.
Before the last two half-million dollar years I was making a solid six figures a year, so I actually surpassed a million dollars earlier. I feel comfortable saying now that I’ve made more than a million in sales and kept more than a million in profit in the last five years running my current online business.
How You Can Make A Million Dollars
Obviously it’s nice for me to be in this situation and I’m incredibly grateful I can live the life I do, working on a few hours a day, make what I make and do it by helping others through sharing words, but I know what you really care about is how can you replicate my result.There’s no simple answer to that question, however I’ve met enough millionaires to notice what they do differently, not to mention had my own experience becoming a seven figure blogger.
Here’s some key points as I see it to help you reach your own million dollar result –
7 Tips To Help You Make A Million Dollars
1. Although I don’t have staff, I couldn’t get this result without some kind of leverage generated by other people. The best two examples I can give you from my experience is my partnership with Gideon Shalwick, who co-created the Become A Blogger program with me, which is responsible for a fairly hefty junk of my income in the last two years, and my affiliates, who have helped me reach a much larger audience than I could alone.
2. Repetition of what works. Although I’ve done many different things over the last ten years, when I found something that worked and I enjoyed doing it, I stuck to it long enough to get a result much higher than the average.
3. Choose a business model that has the potential to make you rich. This might seem obvious, but many entrepreneurs are smart enough to know that working a job won’t make them rich, but then make the mistake of choosing a business model that won’t do it either. If you can’t see how your business could make you a million dollars, then you might want to think about changing your model.
4. Isolate your core strengths and then build on them. I mentioned it’s important to find something you enjoy, and what you enjoy is always a strength, so if you can find a business that allows you to express your strength, develop it through repetition and reap financial rewards from it, you’ve hit the holy grail.
5. Tap significant sources of traffic/audience/customers. Most people I meet who are millionaires have access to large amounts of people. Yes you can make a million dollars without needing distribution (like through property or shares), but for those who do it with a business, they generally have a means to access lots of people. It might be having lots of physical stores in retail, or a large email list or popular website online, or affiliates/joint venture partners, or money to spend on advertising, or some kind of media like a television or radio show, or magazine or newspaper. Whatever the case, you need thousands of customers to make millions of dollars, unless you operate in a high profit-margin market (see below).
6. Pick an industry with significant profit margins and high demand. Profit is a function of how many sales you make and the money you keep from each sale after the cost of providing the goods or service. Obviously the greater your margin, the fewer sales you require to make a million. While you might have trouble starting a business where selling just one or two items can make you millions (for example, selling jumbo jets), it is possible to be calculating when you choose what you are going to sell, so your path to millions is quicker and more likely.
7. When something is not working or won’t take you where you want to go, quit. This is probably the biggest reason most people will never make a million dollars – they are too afraid to change. If today as you read this you have no potential to make a million doing what you do – and you want to make a million – then start making changes so you can.
You don’t necessarily have to quit your job or close your business, but you will need to tap on some kind of potential million dollar system to what you are doing. For example, investing in property with your business profits, or starting a business on the side if you’re still working a job, or finding someone to partner with to start a business so it doesn’t require all your time. If you can’t see how it will happen then how on earth will it ever happen?
And one last tip –1. Although I don’t have staff, I couldn’t get this result without some kind of leverage generated by other people. The best two examples I can give you from my experience is my partnership with Gideon Shalwick, who co-created the Become A Blogger program with me, which is responsible for a fairly hefty junk of my income in the last two years, and my affiliates, who have helped me reach a much larger audience than I could alone.
2. Repetition of what works. Although I’ve done many different things over the last ten years, when I found something that worked and I enjoyed doing it, I stuck to it long enough to get a result much higher than the average.
3. Choose a business model that has the potential to make you rich. This might seem obvious, but many entrepreneurs are smart enough to know that working a job won’t make them rich, but then make the mistake of choosing a business model that won’t do it either. If you can’t see how your business could make you a million dollars, then you might want to think about changing your model.
4. Isolate your core strengths and then build on them. I mentioned it’s important to find something you enjoy, and what you enjoy is always a strength, so if you can find a business that allows you to express your strength, develop it through repetition and reap financial rewards from it, you’ve hit the holy grail.
5. Tap significant sources of traffic/audience/customers. Most people I meet who are millionaires have access to large amounts of people. Yes you can make a million dollars without needing distribution (like through property or shares), but for those who do it with a business, they generally have a means to access lots of people. It might be having lots of physical stores in retail, or a large email list or popular website online, or affiliates/joint venture partners, or money to spend on advertising, or some kind of media like a television or radio show, or magazine or newspaper. Whatever the case, you need thousands of customers to make millions of dollars, unless you operate in a high profit-margin market (see below).
6. Pick an industry with significant profit margins and high demand. Profit is a function of how many sales you make and the money you keep from each sale after the cost of providing the goods or service. Obviously the greater your margin, the fewer sales you require to make a million. While you might have trouble starting a business where selling just one or two items can make you millions (for example, selling jumbo jets), it is possible to be calculating when you choose what you are going to sell, so your path to millions is quicker and more likely.
7. When something is not working or won’t take you where you want to go, quit. This is probably the biggest reason most people will never make a million dollars – they are too afraid to change. If today as you read this you have no potential to make a million doing what you do – and you want to make a million – then start making changes so you can.
You don’t necessarily have to quit your job or close your business, but you will need to tap on some kind of potential million dollar system to what you are doing. For example, investing in property with your business profits, or starting a business on the side if you’re still working a job, or finding someone to partner with to start a business so it doesn’t require all your time. If you can’t see how it will happen then how on earth will it ever happen?
Bonus Tip: Many millionaires are created when one significant event occurs - you sell your business.
You might spend the entire life of your business making a low and steady income, but if you can turn your business into a machine that keeps that income coming without much input from the owner, then you’ve got a sellable asset.
Create a business that makes a few hundred thousand a year using a smart, hands-off business model, and you’ve got yourself a million dollar asset. If that’s daunting, consider starting by creating a five figure business and then selling it for six figures. Do that a few times over a few years and you’ve made your million.
Yaro Starak
Million Dollar Blogger
Source: http://www.entrepreneurs-journey.com/3106/how-to-make-a-million-dollars/
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Thursday, February 9, 2012
Seven Secrets of Self-Made Multimillionaires
By Grant Cardone | Entrepreneur – Thu, Feb 2, 2012 10:00 PM SGT
First, understand that you no longer want to be just a millionaire. You want to become a multimillionaire.
While you may think a million dollars will give you financial security, it will not. Given the volatility in economies, governments and financial markets around the world, it's no longer safe to assume a million dollars will provide you and your family with true security. In fact, a Fidelity Investments' study of millionaires last year found that 42 percent of them don't feel wealthy and they would need $7.5 million of investable assets to start feeling rich.
This isn't a how-to on the accumulation of wealth from a lifetime of saving and pinching pennies. This is about generating multimillion-dollar wealth and enjoying it during the creation process. To get started, consider these seven secrets of multimillionaires.
No. 1: Decide to Be a Multimillionaire -- You first have to decide you want to be a self-made millionaire. I went from nothing—no money, just ideas and a lot of hard work—to create a net worth that probably cannot be destroyed in my lifetime. The first step was making a decision and setting a target. Every day for years, I wrote down this statement: "I am worth over $100,000,000!"
No. 2: Get Rid of Poverty Thinking - There's no shortage of money on planet Earth, only a shortage of people who think correctly about it. To become a millionaire from scratch, you must end the poverty thinking. I know because I had to. I was raised by a single mother who did everything possible to put three boys through school and make ends meets. Many of the lessons she taught me encouraged a sense of scarcity and fear: "Eat all your food; there are people starving," "Don't waste anything," "Money doesn't grow on trees." Real wealth and abundance aren't created from such thinking.
No. 3: Treat it Like a Duty - Self-made multimillionaires are motivated not just by money, but by a need for the marketplace to validate their contributions. While I have always wanted wealth, I was driven more by my need to contribute consistent with my potential. Multimillionaires don't lower their targets when things get tough. Rather, they raise expectations for themselves because they see the difference they can make with their families, company, community and charities.
No. 4: Surround Yourself with Multimillionaires - I have been studying wealthy people since I was 10 years old. I read their stories and see what they went through. These are my mentors and teachers who inspire me. You can't learn how to make money from someone who doesn't have much. Who says, "Money won't make you happy"? People without money. Who says, "All rich people are greedy"? People who aren't rich. Wealthy people don't talk like that. You need to know what people are doing to create wealth and follow their example: What do they read? How do they invest? What drives them? How do they stay motivated and excited?
No. 5: Work Like a Millionaire - Rich people treat time differently. They buy it, while poor people sell it. The wealthy know time is more valuable than money itself, so they hire people for things they're not good at or aren't a productive use of their time, such as household chores. But don't kid yourself that those who hit it big don't work hard. Financially successful people are consumed by their hunt for success and work to the point that they feel they are winning and not just working.
No. 6: Shift Focus from Spending to Investing - The rich don't spend money; they invest. They know the U.S. tax laws favor investing over spending. You buy a house and can't write it off. The rich, in contrast, buy an apartment building that produces cash flow, appreciates and offers write-offs year after year. You buy cars for comfort and style. The rich buy cars for their company that are deductible because they are used to produce revenue.
No. 7: Create Multiple Flows of Income - The really rich never depend on one flow of income but instead create a number of revenue streams. My first business had been generating a seven-figure income for years when I started investing cash in multifamily real estate. Once my real estate and my consulting business were churning, I went into a third business developing software to help retailers improve the customer experience.
Lastly, you may be surprised to learn that wealthy people wish you were wealthy, too. It's a mystery to them why others don't get rich. They know they aren't special and that wealth is available to anyone who wants to focus and persist. Rich people want others to be rich for two reasons: first, so you can buy their products and services, and second, because they want to hang out with other rich people. Get rich -- it's American.
Related: Inside the Mind of Your Buyers
This article originally posted on Entrepreneur.com
---------
Another article I really love! ~ Martin Sim ;D
You should read this too!
http://martin-sim.blogspot.com/2012/01/secrets-to-millionaires-success.html
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Tuesday, January 31, 2012
The secrets to a millionaire's success
If you want to be a millionaire you have to think differently.
By Stephen D Simpson | Investopedia.com – Sat, Jan 28, 2012 12:23 AM SGT
There's no real practical reason to ask "who wants to be a millionaire?" because the only people who won't put their hand up are religious types who've taken vows of poverty and those who are already multi-millionaires. Unfortunately, there's a big gulf between those who want it and those who do the things to make it happen.
Based on recent statistics on UK household income, millionaire-dom is not something that's going to happen for most people, even with the dubious benefits of inflation. An adult earning the median level of income (£26,200 a year in 2011) and saving an impressive 20% of that would need almost 200 years to save £1 million (excluding taxes and investment gains). It's pretty clear, then, that a would-be millionaire has to think outside the boundaries of "median" experience.
Start a business
There are certainly people who can become millionaires by working for other people, but this is not an especially good route to choose. The trouble with trying to become a millionaire by working for other people is that there are always other people siphoning off the value of whatever you produce. Say you're a hotshot salesman – although you're going to get your cut, a lot of the value you create is going to get split among a broader pool of workers, managers and the owner(s) of the business.
Start your own business, though, and you get to decide how to divide that pie. Better still, your ownership stake can become more and more valuable over time as that business becomes larger and larger. While a good employee may get raises and promotions as his or her employer grows, they'll never see the same benefits (including the appreciation in the value of the ownership interest) as the owners.
Use other people's money
One of the remarkably consistent features of stories about people who go from relatively no wealth to major wealth is the role of other people's money in making it happen. Sometimes it's start-up capital from a generous relative, or maybe it's a small business loan or venture capital.
Borrowed money can be a major force multiplier. Behind virtually every property empire is borrowed money and the use of leverage in investing (whether through buying stocks on margin, buying options or buying futures) can rapidly magnify a skilful investor's success. Of course, this cuts both ways – just as borrowed money can create a large business (or portfolio) quickly, just one mistake in an over-leveraged enterprise can bring the whole thing crashing down.
It comes down, then, to risk tolerance. Those who really want to build large wealth (and do so quickly) through business or investment will have to do so in part with other people's money.
Cultivate a valued skill
Wages respond to supply and demand just like everything else, so it is very important to cultivate a skill that is not only in demand, but scarce enough to be valuable. Architecture and law, for instance, are both specialised skills, but not necessarily rare enough to make their practitioners wealthy unless they are at the high end of their profession.
Sports is an obvious example, but most people know in their teens whether they have the rare physical gifts (and perhaps the even rarer mental discipline and dedication) to open the doors to a professional sports career, and it's not really a door that can be opened in college or later. Medicine and engineering, though, are both open to college-aged people who have the requisite abilities and the willingness to put in the effort. The services of these professionals are not only almost always in demand, but the supply is small enough that professionals here can fairly expect to become millionaires on the basis of their labours.
This is also true for unconventional skills as well. Pursuing a career as a writer, actor or professional gambler is a virtual guarantee of poverty for most people. For those who actually have the skills necessary to succeed, though, it can be their best chance of building real wealth.
Out-think or out-hustle
Lazy and self-made millionaire just don't go together. Going back to that supply-demand equation, anything that's relatively easy, convenient and accessible is going to have ample supply and relatively low payouts. Since most people don't actually want to work that hard, though, there are real wealth-creation opportunities out there for those willing to think and/or work just a little harder than average.
One option for building exceptional wealth is to out-think the majority of people out there. While pursuits like writing, investing and inventing all involve a tremendous amount of effort and dedication, there is at least some aspect of out-thinking to them all. Steve Jobs of Apple, Richard Branson of Virgin and Lord Alan Sugar all clearly worked hard to achieve success, but a lot of that success was predicated on seeing things that others didn't see and figuring out how to do them even better.
Out-hustling is an undervalued aspect of wealth creation. Success in business is often about the hustle – the willingness to make one more call or work an extra hour later. The field of "hustle" is wide, rich and fertile. You can make good money visiting auctions and reselling undervalued items, just as you can make good money from a variety of multi-level marketing programs. The question is whether you want to spend the hours it takes to drive the process forward.
Rental property is a good example. It is actually not all that difficult to find rental properties, buy them and rent them out. Do this well and it's fairly easy to earn an annual return of 8-15%. The problem is that there are a myriad of small annoyances that go with it – hassles in haggling over the purchase price, hassles in getting mortgages, hassles in getting tenants, hassles in dealing with tenants and so on. Some people just don't want to be bothered with this, but those who don't mind the annoyances can reap the rewards.
The bottom line
Having £1 million or more in net worth is still uncommon enough to be special and significant, and it doesn't often come as a by-product of luck or chance. Hard work is a virtual requisite, but so too is a willingness to take on some risk (such as starting a business or using leverage) or cultivate a rare gift (like writing or inventing). Although simple living and sound investing will help anyone build more wealth, a special level of success requires a special person who is willing to do more and risk more than most people.
Love this article! ~ Martin Sim
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Thursday, July 21, 2011
[Update 7] Financial Education & Money Management (Part 1)
Part 1: Job 1O1 | Know Thyself
To kick off this topic, let's talk about the way we naturally behave and approach matters, even before we dive deeper. I will separate this topic into two posts. I might tend to go a little off-topic at some points, so try to see the whole picture and you will see where I am coming from.
To understand this, we first need to understand our thought process. See,
Our brain's instinctive function is to protect us from danger. Hence, when it comes to money, the path most well-travelled by the many is to get education then get a ______. Seek safety and security yes?
As, with a job you put in $0 and yield returns. You sell Time to gain Money, risk free!
Unlike other people, I will tell you that in many ways, a job really is the best Returns On Investments. You gain money but risk $0. You can take my word personally on this, having been on all quadrants of the ESBI. This btw, is the technical definition of 'Infinite Returns'. It's a bit of a joke, I know. Anything multiplied by 0 = Infinite. By this definition, finding 10cents on the floor is also making Infinite Returns. With all the hype built up, I almost wanted to punch the person who told me this in the nose when I heard the answer.
Fun facts aside, as an investor, what you are really trying to do is similar to when your brain naturally knows; lower your risk and maximize your returns. Lowering risk can come in several forms:
1. Monetary/ Financial/ Cost
2. Project soundness/ Viability/ Implementations/ Exits
3. Management/ Macro-factors
Financially, what can be lower than not putting a single cent in? Seeking employment as a way to gain money over other ways (ie. Trading, Business, Investments etc) is therefore the safest way to yield returns.
I don't care what other people tell you about starting a business and make it sound so simple. It really isn't as simple as ABC. Anyone who tells you otherwise is telling you half-truths. You need A WHOLE LOT of special SOMETHING to be a business person. (Note: I did not even mention the word Success yet.) Don't get me wrong. Anyone can make it, IF (And only IF) they set their minds to it. But for most people who have trouble even balancing personal life with employment, Business requires A LOT from you. If you cannot give that, be happy with a 'normal' life, Business might not be your cup of tea.
I will talk about Learning about Financial Education and Mastering Money management in my next post.
Until next time.
Your Fellow Investor,
Martin Sim
Previous Updates
6 Evaluating Risk
5 Why is ‘Playing Safe’ the riskiest thing you can do with your money?
4 Inflation hits highest level since 2008
3 Why you MUST Invest!
2 Are you your parents' financial photocopy?
1 Taking retirement into your own hands
To kick off this topic, let's talk about the way we naturally behave and approach matters, even before we dive deeper. I will separate this topic into two posts. I might tend to go a little off-topic at some points, so try to see the whole picture and you will see where I am coming from.
To understand this, we first need to understand our thought process. See,
Our brain's instinctive function is to protect us from danger. Hence, when it comes to money, the path most well-travelled by the many is to get education then get a ______. Seek safety and security yes?
As, with a job you put in $0 and yield returns. You sell Time to gain Money, risk free!
Unlike other people, I will tell you that in many ways, a job really is the best Returns On Investments. You gain money but risk $0. You can take my word personally on this, having been on all quadrants of the ESBI. This btw, is the technical definition of 'Infinite Returns'. It's a bit of a joke, I know. Anything multiplied by 0 = Infinite. By this definition, finding 10cents on the floor is also making Infinite Returns. With all the hype built up, I almost wanted to punch the person who told me this in the nose when I heard the answer.
Fun facts aside, as an investor, what you are really trying to do is similar to when your brain naturally knows; lower your risk and maximize your returns. Lowering risk can come in several forms:
1. Monetary/ Financial/ Cost
2. Project soundness/ Viability/ Implementations/ Exits
3. Management/ Macro-factors
Financially, what can be lower than not putting a single cent in? Seeking employment as a way to gain money over other ways (ie. Trading, Business, Investments etc) is therefore the safest way to yield returns.
I don't care what other people tell you about starting a business and make it sound so simple. It really isn't as simple as ABC. Anyone who tells you otherwise is telling you half-truths. You need A WHOLE LOT of special SOMETHING to be a business person. (Note: I did not even mention the word Success yet.) Don't get me wrong. Anyone can make it, IF (And only IF) they set their minds to it. But for most people who have trouble even balancing personal life with employment, Business requires A LOT from you. If you cannot give that, be happy with a 'normal' life, Business might not be your cup of tea.
So you should be very happy being employed...Are you?
As an employee, (And mind you, I did really went all out being an employee too. But..) I always had this sinking and helpless feeling of unfulfillment as whatever I was doing ultimately doesn't belong to me. However much I tried to convince myself otherwise. Same for you? However much you give at your job, an employee will never understand nor commit the kind of devotion, like that of your own convictions.
Here's what most people would do; Get a job >>> Climb the ladder >>> TRY their very best to maximize as much gains from a single income stream (Employment) as possible or Job hop to higher income/ better prospects/ greener pastures etc. Then one day, some years down the road, with the family, the kid/s, the house, the car, keeping up with the Chans, the lifestyle they have gotten so accustomed to...They find themselves without the option to slow down.
a) For some they might hit this situation during bad times, becoming too expensive for the company employing them and face job insecurities and hungrier young people who can work twice as hard and get half the pay. Familiar story? And you can be certain that in the world we live in today, boom/bust cycle is inevitable.
b) For some others, with the $2500 paying job, they are spending $4000. And as they go along, their expenditure snowballs.
Both cases, they end up working harder, longer, look for better pay, still finding themselves playing catch up with their expenses. And they do this year after year after year, next thing you know, 40s-50s are here, stuck in the middle of neither here nor there, very afraid someone comes along and take away their job because they still have housing loans, kids' loans, bills (or worse DEBTS) to pay....
The problem with a JOB is...there is only 1 of you and for that matter, you have only 1 income stream.
Money really shouldn't be a sensitive topic, it should be a transparent topic. Money shouldn't be something you shun or be ignorant about and hope for the better; Just like your health, it should be something you constantly maintain and take care of. Understanding Financial Education comes in 5 parts
1. Income - Expenses = Positive/ Negative
2. No excess vs Additional income
3. What you want to achieve and Putting your money to work.
4. Passive income and being a Money manager
5. Understanding about the world around you and how marco-events affects your pocketsAs an employee, (And mind you, I did really went all out being an employee too. But..) I always had this sinking and helpless feeling of unfulfillment as whatever I was doing ultimately doesn't belong to me. However much I tried to convince myself otherwise. Same for you? However much you give at your job, an employee will never understand nor commit the kind of devotion, like that of your own convictions.
Here's what most people would do; Get a job >>> Climb the ladder >>> TRY their very best to maximize as much gains from a single income stream (Employment) as possible or Job hop to higher income/ better prospects/ greener pastures etc. Then one day, some years down the road, with the family, the kid/s, the house, the car, keeping up with the Chans, the lifestyle they have gotten so accustomed to...They find themselves without the option to slow down.
a) For some they might hit this situation during bad times, becoming too expensive for the company employing them and face job insecurities and hungrier young people who can work twice as hard and get half the pay. Familiar story? And you can be certain that in the world we live in today, boom/bust cycle is inevitable.
b) For some others, with the $2500 paying job, they are spending $4000. And as they go along, their expenditure snowballs.
Both cases, they end up working harder, longer, look for better pay, still finding themselves playing catch up with their expenses. And they do this year after year after year, next thing you know, 40s-50s are here, stuck in the middle of neither here nor there, very afraid someone comes along and take away their job because they still have housing loans, kids' loans, bills (or worse DEBTS) to pay....
The problem with a JOB is...there is only 1 of you and for that matter, you have only 1 income stream.
Most people get Technical and Professional Education, for them to get a job and earn loads of money. BUT those that don't know how to manage money and tend to squander it all away or even worse, rake up huge amounts of debts.
And there is the other group, with the lack of Financial Education (like me once), they don't know any better so they
And there is the other group, with the lack of Financial Education (like me once), they don't know any better so they
- spend less and save,
- want to invest but scared,
- want to buy but don't know any better to decide,
- want to move right or left, they are also unsure.
- want to spend the time to learn about all these seems like a whole lot of effort for something so non-core income function,
- seek safety but want high returns, often committing to the wrong investment,
- get stuck in employment and forever are neither here nor there, have a sit-on-the-fence approach in their lives, only to look back and every turn and exclaim to the likes of "If only I did that...."
- behave like babies and complain about the government as they view everything as the government's fault.
Money really shouldn't be a sensitive topic, it should be a transparent topic. Money shouldn't be something you shun or be ignorant about and hope for the better; Just like your health, it should be something you constantly maintain and take care of. Understanding Financial Education comes in 5 parts
1. Income - Expenses = Positive/ Negative
2. No excess vs Additional income
3. What you want to achieve and Putting your money to work.
4. Passive income and being a Money manager
I will talk about Learning about Financial Education and Mastering Money management in my next post.
Until next time.
Your Fellow Investor,
Martin Sim
Previous Updates
6 Evaluating Risk
5 Why is ‘Playing Safe’ the riskiest thing you can do with your money?
4 Inflation hits highest level since 2008
3 Why you MUST Invest!
2 Are you your parents' financial photocopy?
1 Taking retirement into your own hands
Labels:
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rental,
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stocks,
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Saturday, April 16, 2011
[Update 6] Evaluating Risk
This is possibly why majority of people 'invest' in the wrong stuff and lose money. They didn't evaluate the risk before jumping in, worse off, they don't know what to do. So what should you be looking out for?
1stly, Ask yourself the question: "Do I want to invest?" Because I meet many people who have not even figured this part out yet. So they spend their time being half-hearted, go around listening to bits and pieces of information here and there, procrastinating and looking in envy when they see other people make money.
More often than not, they end up committing to investments based on emotions and the strong salesmanship of the sales personnel.
So if and when you have decided that you want to invest, just like riding a bic or driving a car, LEARN.
2. Understand that in investments, it is not about what you want to do in the market, it is about what the market gives you. And when market gives, you gotta learn how and when to take. Unless you are big enough to manipulate markets, this applies to YOU. Every novice investors comes to the game with big dreams of what they want to earn in the market. "I want 10% returns, I want 20% returns....etc" Some have their journey cut short even before they begin, others go down a path of winning little and losing big...Very bitter experience. Talk to seasoned investors, what they are most bothered about is their downside. They are thinking "I want to do everything possible to ensure that I do not lose money."
3. Take care of the downside, let the upside take care of itself. Why restrict your earnings to 10-20% returns? The sky is the limit! Have a plan in place to protect yourself when things go south.
4. Take a step back and look at investments in smaller numbers. Investments usually involve quite a sum of money, as such it can get quite personal and people tend to get emotional. This is after all your hard-earned money. DON'T. By being emotional, you are doing yourself the biggest disadvantage in investments. Leave the heart for relationship matters. But huge sums of money, many zeros, can drive people CRAAZZY! So either look at it on the merits of the investments alone and block out the amount portion or to look at it in terms of small insignificant money. It will help you clear your mind.
5. Understanding Risk/Reward ratio.
a. Give an example: (Notice I always like to talk in very small numbers) 1sqft of Property A cost $1 and 1sqft of Property B cost $10. By looking at cost alone, everyone would prefer Property A.
But what if I were to tell you that the value of Property A decays at the rate of 10% per year every year and Property B appreciates at 10% per year every year, which would you then prefer?
So to understand investments, don't look at cost price alone. Look at the entire picture of the investment
b. Another example: Investment A offers 50% returns, Investment B offers 10%, again if by looking at returns alone, everyone would opt for Investment A.
But what is the time line? Investment A offers 50% (Capital gains) returns but with an indefinite timeline, Investment B offers 10% (Yield) pa. Now which one is the better investment?
6. As an investor, what you are really trying to do is lower your risk and maximize your returns. That's why for many people when they graduate, they look for a ...??
a. Investment
b. Job
Your intrinsic thought process (Your brain's protective function) already told you, risk none of your own money, derive as much as possible from that source. But, what the problem with JOB? (Next post.)
7. Get Financially Educated and learn proper Money Management. A lot of people get Technical and Professional Education, for them to get a job and earn loads of money. BUT they don't know how to manage money and squander it all away or even worse, rake up huge amounts of Credit card debts, leading to financial problems. I will talk about Financial Education and Money management in my next post.
8. Investment is about opportunity, rather than timing. It is actually a pretty boring thing to do. Put the money issues aside or look at it in insignificant amounts, get Financially Educated, LEARN, apply a fixed set of rules over and over again... & When you see Opportunity....Take It! Take Action...If you procrastinate, opportunity may fleet by you, when lost, it may never return. But don't worry or be envious, there will be other opportunities. Be concerned that you continue to sit on the fence and expect 'magic' to happen, only to find one day years have passed, opportunities have passed then it's really too late..
Until next time.
Your Fellow Investor,
Martin Sim
Previous Updates
5 Why is ‘Playing Safe’ the riskiest thing you can do with your money?
4 Inflation hits highest level since 2008
3 Why you MUST Invest!
2 Are you your parents' financial photocopy?
1 Taking retirement into your own hands
More technical reading you might like
http://www.axa-equitable.com/investments/evaluating-investment-risk.html
http://www.investopedia.com/articles/stocks/08/country-risk-for-international-investing.asp
http://www.taipanpublishinggroup.com/tpg/smart-investing-daily/smart-investing-091010.html
http://fc.standardandpoors.com/sites/client/tda/tdap/article.vm?siteContent=5189&topic=5034
1stly, Ask yourself the question: "Do I want to invest?" Because I meet many people who have not even figured this part out yet. So they spend their time being half-hearted, go around listening to bits and pieces of information here and there, procrastinating and looking in envy when they see other people make money.
More often than not, they end up committing to investments based on emotions and the strong salesmanship of the sales personnel.
So if and when you have decided that you want to invest, just like riding a bic or driving a car, LEARN.
2. Understand that in investments, it is not about what you want to do in the market, it is about what the market gives you. And when market gives, you gotta learn how and when to take. Unless you are big enough to manipulate markets, this applies to YOU. Every novice investors comes to the game with big dreams of what they want to earn in the market. "I want 10% returns, I want 20% returns....etc" Some have their journey cut short even before they begin, others go down a path of winning little and losing big...Very bitter experience. Talk to seasoned investors, what they are most bothered about is their downside. They are thinking "I want to do everything possible to ensure that I do not lose money."
3. Take care of the downside, let the upside take care of itself. Why restrict your earnings to 10-20% returns? The sky is the limit! Have a plan in place to protect yourself when things go south.
4. Take a step back and look at investments in smaller numbers. Investments usually involve quite a sum of money, as such it can get quite personal and people tend to get emotional. This is after all your hard-earned money. DON'T. By being emotional, you are doing yourself the biggest disadvantage in investments. Leave the heart for relationship matters. But huge sums of money, many zeros, can drive people CRAAZZY! So either look at it on the merits of the investments alone and block out the amount portion or to look at it in terms of small insignificant money. It will help you clear your mind.
5. Understanding Risk/Reward ratio.
a. Give an example: (Notice I always like to talk in very small numbers) 1sqft of Property A cost $1 and 1sqft of Property B cost $10. By looking at cost alone, everyone would prefer Property A.
But what if I were to tell you that the value of Property A decays at the rate of 10% per year every year and Property B appreciates at 10% per year every year, which would you then prefer?
So to understand investments, don't look at cost price alone. Look at the entire picture of the investment
b. Another example: Investment A offers 50% returns, Investment B offers 10%, again if by looking at returns alone, everyone would opt for Investment A.
But what is the time line? Investment A offers 50% (Capital gains) returns but with an indefinite timeline, Investment B offers 10% (Yield) pa. Now which one is the better investment?
6. As an investor, what you are really trying to do is lower your risk and maximize your returns. That's why for many people when they graduate, they look for a ...??
a. Investment
b. Job
Your intrinsic thought process (Your brain's protective function) already told you, risk none of your own money, derive as much as possible from that source. But, what the problem with JOB? (Next post.)
7. Get Financially Educated and learn proper Money Management. A lot of people get Technical and Professional Education, for them to get a job and earn loads of money. BUT they don't know how to manage money and squander it all away or even worse, rake up huge amounts of Credit card debts, leading to financial problems. I will talk about Financial Education and Money management in my next post.
8. Investment is about opportunity, rather than timing. It is actually a pretty boring thing to do. Put the money issues aside or look at it in insignificant amounts, get Financially Educated, LEARN, apply a fixed set of rules over and over again... & When you see Opportunity....Take It! Take Action...If you procrastinate, opportunity may fleet by you, when lost, it may never return. But don't worry or be envious, there will be other opportunities. Be concerned that you continue to sit on the fence and expect 'magic' to happen, only to find one day years have passed, opportunities have passed then it's really too late..
Until next time.
Your Fellow Investor,
Martin Sim
Previous Updates
5 Why is ‘Playing Safe’ the riskiest thing you can do with your money?
4 Inflation hits highest level since 2008
3 Why you MUST Invest!
2 Are you your parents' financial photocopy?
1 Taking retirement into your own hands
More technical reading you might like
http://www.axa-equitable.com/investments/evaluating-investment-risk.html
http://www.investopedia.com/articles/stocks/08/country-risk-for-international-investing.asp
http://www.taipanpublishinggroup.com/tpg/smart-investing-daily/smart-investing-091010.html
http://fc.standardandpoors.com/sites/client/tda/tdap/article.vm?siteContent=5189&topic=5034
Labels:
asset,
business,
capital gain,
cashflow,
estate,
fund,
gross yield,
invest,
membership,
money,
net,
partnership,
passive income,
property,
rental,
shares,
stocks,
venture
Wednesday, March 2, 2011
[Update 5] Why is ‘Playing Safe’ the riskiest thing you can do with your money?
Here's what most people are like:
1. Risk adverse. Or
2. They want to achieve something in investing...BUT it takes too much time and effort to learn, and with the job, life, family etc, they procrastinate to get financially educated.
1. Risk adverse. Or
2. They want to achieve something in investing...BUT it takes too much time and effort to learn, and with the job, life, family etc, they procrastinate to get financially educated.
I understand perfectly! Heck, I wanted to outsource my investments once too.
So they go for - Guaranteed Returns. I am sure you know the problem with organisations that offer that. The more guaranteed the returns are, usually means the lower the yield will be, yes?
(Anyone who disagrees with me, pls drop me an email. I am ALWAYS looking out for high-yielding, safe, guaranteed returns! ;D )
(Anyone who disagrees with me, pls drop me an email. I am ALWAYS looking out for high-yielding, safe, guaranteed returns! ;D )
First let's understand what 'Guaranteed Returns' really means.
The bank/ insurance agency/ fund management firm/ company etc. that you have deposited your money with, effectively are 'borrowing' the money from you at the small returns they promised you, to put it to more speculative structures. Meaning: They are using your money to make HUGE gains and paying you a paltry sum. You are effectively taking the biggest risk (just that you are 'blind' to that) and getting the smallest returns. Does that sound fair to you?
The bank/ insurance agency/ fund management firm/ company etc. that you have deposited your money with, effectively are 'borrowing' the money from you at the small returns they promised you, to put it to more speculative structures. Meaning: They are using your money to make HUGE gains and paying you a paltry sum. You are effectively taking the biggest risk (just that you are 'blind' to that) and getting the smallest returns. Does that sound fair to you?
Worse so are the principle guaranteed products. Principle guaranteed products means (to me. personal experience) the company can use that money and make all sorts of gains, at the end of the agreed time period, are bound to return you your principle sum. And usually they do so, with at most a very very very pathetic payout or just pay you back your principle. What's the point??
And in today's environment, where money can be printed faster than you can count them (devaluation of money ie. banana notes) and what this doesn't already rob away, inflation strips off. Guaranteed Returns products previously cannot cover inflation, currently geez...don't even talk about it!
So to protect and grow your money, in today's environment, you inevitably have to get financially educated (There are of course some shortcuts.) to 'open your eyes' to see what is truly worth investing in. You do so by evaluating risk, I will talk about this next time I post.
Meanwhile, OPEN YOUR EYES and SEE what we have posted so far at
Property Investors Club &
Equities Investors Network
Property Investors Club &
Equities Investors Network
It is quite ridiculous to live an entire life being stuck under the thumb of money. Take care everyone!
Until next time.
Your Fellow Investor,
Martin Sim
Until next time.
Your Fellow Investor,
Martin Sim
Previous Updates
Labels:
asset,
business,
capital gain,
cashflow,
estate,
fund,
gross yield,
invest,
membership,
money,
net,
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passive income,
property,
rental,
shares,
stocks,
venture
Tuesday, January 25, 2011
[Update 4] Inflation hits highest level since 2008
Way back in May 2010, I posted regarding demand/supply and inflation issues (this was when there wasn't any inflation issues and market was still bothered about recovery) in Are you your parents' financial photocopy? Lo and behold this is the article on The Straits Times Tuesday January 25th 2011 Page A6 "Inflation hits highest level since 2008". Anyone with two-bit knowledge on economy will conclude the same back then.
The key thing now is: Inflation is creeping up, which side of the coin are you on? I saw people complaining of cost and reports about helping the lower/middle class....
And its gonna get worse, oil hasn't even reach and broke the previous highs yet. (I am eagerly watching.) Just a simple understanding of financial education you are able to protect yourself and your wealth from all these macro-economic factors. See inflation can soar through the roof or drop to the ground or not move at all (in your dreams), I still would be happy because in every way I know how to make money off it.
Which is why, just like my previous post on Why you must invest! I keep repeating YOU MUST INVEST! YOU MUST! YOU MUST PUT YOUR MONEY TO WORK BECAUSE YOUR MONEY HAS QUIETLY HALF-VALUED. And as mentioned, property is a safe and lucrative way to hedge this erosion of monetary value, as with property you get both yields and capital gains. And given what we can see from our economies today, Asia and Singapore is poised for several more buoyant years at least. Key issue here is buying the right one.
If your response is "Oh but you know something, I don't." Sir/Mdm I wasn't born this way, 6yrs ago I knew absolute NOTHING! 100% Financial idiot, all I know was to work as hard and much as possible, spent as little as possible and scrape every penny and save, save, save...coming from Singapore, this is what the system 'programmed' us to do. Duracell bunnies the whole lot of us.
In fact back then, for the amount of time and effort required to learn and understand, I initially wanted to outsource investing my small capital as this was a bit of a 'non-core business function'. How dangerous that would have been eh? Constantly, I bugged a buddy to approach his sister who was some hotshot in the bank to help me. Until today, I still thank him very much whenever I see him for brushing me off back then. If not, I wouldn't have bothered to learn myself and I won't know what I know today. Now I don't claim to be some 'Guru' or 'Expert', my point simply is: YOU lose out being oblivious.
Now I can hear many people lamenting, "No time.." and I totally know where you are coming from with work and life. I am not gonna lied to you and tell you after some 3-day program you will be an expert. The amount of true time and effort it takes to learn, trial and error is A LOT. And not necessarily prefect-able as market is live and ever-changing. Like driving, practical differs from theory. You want to be successful at investing FAST, here's my shortcut, wanna know? Scroll down.
Instead of trying to re-invent the wheel/ or muck around trying to get the act right/ or hunting high and low and getting nowhere/ or taking huge risk on your own....(And I did all the above)
spend some time and effort to learn about the product you are investing in, function as a TEAM, iron out all the trust issues via contract/s and let people who have better knowledge in their fields than yourself lead the way in that area. Simple right? Trust is never a simple thing. But if you don't work that out, you are not going to move forward much. (Even John Rambo grows old.)
Recently, we met a lot of people due to the expansion of Property Investors Club. With meeting all of you and with Property Investors Club getting up and running on its own, (People said with a wordpress website and a yahoo email it is not possible. Incidentally, these people also did not register to learn more. We believe that our passion, our dedication and sincerity has helped us shine through and our message speaks clearer and louder with each passing day. Thank you All for giving us your attention!)
I want to focus my personal site towards the Mindset and Psychology of an Investor as I come to realize most people unfortunately respond best to sales talks (That's why TOP units are selling like hotcakes, and developers and property agents are making merry, patting each other's backs, laughing all the way to the bank.), evoking their emotions and (hate to say it) greed...This is a very dangerous way to make decisions! Especially one as big as property investing. My inputs are both from my mentors and myself from facing investments daily for the last 6years of my life. Nothing fancy, just some factual accounting of events.
I will be posting more on this in my next post. Meanwhile, think about what I have said and read the report below. Inflation is gonna get even worse, it is inevitable. What are you doing to protect yourself and your wealth?
Thank you All for your time and for supporting Property Investors Club! Welcome On-board! We look forward to many successes in investing.
Until next time.
The key thing now is: Inflation is creeping up, which side of the coin are you on? I saw people complaining of cost and reports about helping the lower/middle class....
And its gonna get worse, oil hasn't even reach and broke the previous highs yet. (I am eagerly watching.) Just a simple understanding of financial education you are able to protect yourself and your wealth from all these macro-economic factors. See inflation can soar through the roof or drop to the ground or not move at all (in your dreams), I still would be happy because in every way I know how to make money off it.
Which is why, just like my previous post on Why you must invest! I keep repeating YOU MUST INVEST! YOU MUST! YOU MUST PUT YOUR MONEY TO WORK BECAUSE YOUR MONEY HAS QUIETLY HALF-VALUED. And as mentioned, property is a safe and lucrative way to hedge this erosion of monetary value, as with property you get both yields and capital gains. And given what we can see from our economies today, Asia and Singapore is poised for several more buoyant years at least. Key issue here is buying the right one.
If your response is "Oh but you know something, I don't." Sir/Mdm I wasn't born this way, 6yrs ago I knew absolute NOTHING! 100% Financial idiot, all I know was to work as hard and much as possible, spent as little as possible and scrape every penny and save, save, save...coming from Singapore, this is what the system 'programmed' us to do. Duracell bunnies the whole lot of us.
In fact back then, for the amount of time and effort required to learn and understand, I initially wanted to outsource investing my small capital as this was a bit of a 'non-core business function'. How dangerous that would have been eh? Constantly, I bugged a buddy to approach his sister who was some hotshot in the bank to help me. Until today, I still thank him very much whenever I see him for brushing me off back then. If not, I wouldn't have bothered to learn myself and I won't know what I know today. Now I don't claim to be some 'Guru' or 'Expert', my point simply is: YOU lose out being oblivious.
Now I can hear many people lamenting, "No time.." and I totally know where you are coming from with work and life. I am not gonna lied to you and tell you after some 3-day program you will be an expert. The amount of true time and effort it takes to learn, trial and error is A LOT. And not necessarily prefect-able as market is live and ever-changing. Like driving, practical differs from theory. You want to be successful at investing FAST, here's my shortcut, wanna know? Scroll down.
Just making sure you are awake ;D
Instead of trying to re-invent the wheel/ or muck around trying to get the act right/ or hunting high and low and getting nowhere/ or taking huge risk on your own....(And I did all the above)
spend some time and effort to learn about the product you are investing in, function as a TEAM, iron out all the trust issues via contract/s and let people who have better knowledge in their fields than yourself lead the way in that area. Simple right? Trust is never a simple thing. But if you don't work that out, you are not going to move forward much. (Even John Rambo grows old.)
Recently, we met a lot of people due to the expansion of Property Investors Club. With meeting all of you and with Property Investors Club getting up and running on its own, (People said with a wordpress website and a yahoo email it is not possible. Incidentally, these people also did not register to learn more. We believe that our passion, our dedication and sincerity has helped us shine through and our message speaks clearer and louder with each passing day. Thank you All for giving us your attention!)
I want to focus my personal site towards the Mindset and Psychology of an Investor as I come to realize most people unfortunately respond best to sales talks (That's why TOP units are selling like hotcakes, and developers and property agents are making merry, patting each other's backs, laughing all the way to the bank.), evoking their emotions and (hate to say it) greed...This is a very dangerous way to make decisions! Especially one as big as property investing. My inputs are both from my mentors and myself from facing investments daily for the last 6years of my life. Nothing fancy, just some factual accounting of events.
I will be posting more on this in my next post. Meanwhile, think about what I have said and read the report below. Inflation is gonna get even worse, it is inevitable. What are you doing to protect yourself and your wealth?
Thank you All for your time and for supporting Property Investors Club! Welcome On-board! We look forward to many successes in investing.
Until next time.
Your Fellow Investor,
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