Saturday, June 30, 2012
Choose the right career
Tomorrow i will be sending my sister to college of nursing. That the career she choose for her future. She's quite interested in nursing since secondary school. So,i hope she will succeed to achieve her dream. Choosing the right career is very important in life so we can make our goal and plan the future well.
Wednesday, June 27, 2012
Financial freedom
Copy directly from blog CPTeh. I feel the same as what he has gone through with financial hardship and challenge to be a good people and good in managing money.
Financial Freedom
What is 'financially free' meant for you? As it is defined differently for different people and their needes ... generally we are talking about FREEDOM ... financially means, we can afford to have things that we need and not to worry much about the amount of 'money' spent.
It could means ... we do not need a full-time job, if we do not want to work. It could means ... we are FREE ... to go anywhere or buying anything(within normal simple human needs) ... and could stay afloat, financially.
What is it meant to me, a simple ah-pek without much material-needs?
First, I do not need to have a full-time teaching job. I have been teaching for past 22 years ... loving it but it is lowly paid. SERIOUS ... with below RM60k per year, I am in a averagely LOW income bracket. My youngest brother is earning 40% more than me now!! The low income would not give me much to save ... in fact, my current family expenses is higher than my full-time salary. You need to check that these lecturers are of low-average income people who could not afford anything much. Well, unless their parents are 'rich' ... that is another story la.
So, I will not need to work under tremendous stress of teaching and loads of paperworks ... if I am financially 'free'. If I am to rely only on my salary, I am broke and living in credits now(will you please donate RM5 per month ... I promised to write interesting posts, ok?) ... salary itself is NOT enough in my case. I have houses, a car ... two on-goings kinder kids. I can say that my kids like good restaurants! Ouch.
Secondly, I will have TIME ... free time to do what I like to do. What will I do if I m not working? Being a simple person, I just wish to sit in a library ... for few hours doing some readings(of my interests). I will surf the net ... to check on some relevent news(who married Lau Tak Wah or who killed the Mongolian lady is not of my concerns).
TIME is money for me at the moment ... besides my full-time job, 8am to 4pm, I do have to complement my low-income with tuition classes. Based on my rate(RM120 pr hour), I need 10 hours of classes per week to earn my 'salary'. So, that would be around RM100k per year now. Thank God for providing me streams of students ... looking for me for tuition. I do still need few more classes, and if I need to teach during weekends and nights, I will ... exchange my TIME = MONEY. Yes, it is a good income .... but I still need to be there ... to teach. No tuition, no classes ... no income.
With the E-quadrant and S-quadrant filling most of my waking time, I have little time left ... I do not have entertainment in my lives(since 7 years ago after reading RDPD and understanding delay gratification concepts of persoanl finances) ... the only joy I could have is few short moments playing with my kids!!
Anyway, to make TIME ... I have to wake up when many still sleeping ... and sleep late at nights. TIME ... to read, to reflect, to plan ... to think ... to imagine ... time to analyse ... and I did not rest much, did I? Hmm ...
Moving into B-quadrant ... that was tough and faced failures so far. But, I know I will move away from E to B ... once given the chance. With my tratles group growing, I may want to find some partners there ... those willing to work togther, having similar goals ... of acheiving our business-goals. NOTHING is without RISK ... failing is just a norm. Take it. And do check these pages to see if I m moving to B-quadrant ... perhaps those skeptical and cynical readers may want to see me 'fail'? Dont worry, even if I failed my ventures OR fail to even start ... I will still write it here(for my records and viewings) ... and reflect and pull myself UP again. Winners do not quit, right?
I am in the I-quadrant ... have struggled to understand financial instruments ... trading and investing in equity-markets. I have learnt to take advantage of the 'mis-pricing', fundamentally and technically. I am sharing it with many ... and as I am having my own trading-group now, the money I earned will still directly moving into I-quadrant. Yes, do not use those 'extra' money you have earned or profitted ... let it grow and compound. If one could get a 10-20% profits per year ... that is GOOD and that is how we grow our accounts ... slow and consistent. I am teaching my tratles that ... we want to learn fundamentals ... we want to learn to trade ... we want to take profits and with increasing knowledge and experiences, our trades will be more consistently profittable. Be patient ... it will grow(at least I hv grown my well).
So ... what is financially free for me? To be able to have my own free time to do simple things I like, not needing to answer to my immediate bosses, struggling with paper-works ... and tied to a place!!
Am I going to acheive my simple goal? How much of MONEY do I need in my a/c for me to consider as financially free? RM1 million? Hmm ... to me, it is NOT the amount. As I do not spend much(and I dont see myself change my frugal life-style) ... the amount is just a number. But it needs to be significant amount to cover my kids schooling expenses, to cover health expenses, daily expenses ... and some extras for charity.
I do have my very own defination of 'financiall free' ... and being simple and humble is good. It is easier to achieve and more realistic. Honestly, I do see my chances of financially free ... a reality in 5 years to come. I am 45 ... by 50, I do hope I wont need a full-time job, I will teach Maths or Trading for passing of my time(and teaching is my passion ... hopefully, I could reach out to help more newbies in markets ... and my whole group will continue to help others!!) ... and I will like to take lives SLOW ... retiring in Sabah and Penang/Malacca. These are all in my plans now ...
I will write a book ... I hope the proceeds will go to some charity or perhaps, I could start a 'foundation' ... in helping many traders/investors who are losing money and needs education. Seriously, MANY do need education to be in markets. I hope to provide that platform, one day ... with the help of my tratles.
Note : Since 1st Jan 2011, my counters hit 500, 000 yesterday. Thanks for being such a nice audience. I am still motivated to blog ... and write what in mind or what I am doing(minus chart analysis which only shared with my groups).
Thanks!!
For reading purposes : Taken from http://www.millionaireacts.com/
Quadrant 1 – EMPLOYEES. I do think that most of us belongs here. We have a job. We have to work hard, follow instructions from our bosses and superiors and get paid. We don’t own our time. These are people who love security or tenure. They will work hard to climb up the corporate ladder. The higher they climbed the ladder, the higher they pay is. Sad to say, the higher their pay is, the higher also their taxes. And it’s not them getting rich, it’s their bosses, it’s their company. Time will come, they will get tired. Their body will collapse because of age. And when they stopped working, they will also stop receiving income.
Quadrant 2 – SELF EMPLOYED – They work for themselves. The difference with the employees is that self-employed own their time since they don’t have superiors. They can decide for themselves. These are people who loves to be independent. They don’t want to work for others, instead they want to work for themselves. These are doctors, lawyers, and small business owners. But still, they are an employee of themselves. And if they stopped working, they will also stop receiving income.
Quadrant 3 – BIG BUSINESS OWNERS – They love delegating tasks. They concentrate their efforts more on activities which produces most profits. They hire people who are more intelligent than them to do the work for them. They have built a solid system and they own it. They have built their resources to make this possible. And so they can leave for vacation and can leave work for some time but still earns money because there were people working for them. Examples of this are the taipans and tycoons and some franchisers who have built a solid business.
Quadrant 4 – INVESTORS – These are people who have built their assets and are not working for money anymore. Instead, the assets they have accumulated works for them providing them constant income even if they don’t work. These are people who are called “living on interests”. They are living thru the interests of their assets and investments. Money works for them. They have invested their money to have more money. They can differentiate which one is an asset and which one is a liability. Examples of these are investors in the stock market, real estate, etc.
Did you see the difference? The only way to escape from the rat race is by travelling from active income to passive income, from employee or self-employed to becoming a big business owner or investor. And this is the challenge that Robert Kiyosaki left to us readers.
As a final note, I’m leaving this quote from Mr. Kiyosaki.
“The rich buy assets. The poor only have expenses. The middle class buys liabilities they think are assets. The poor and the middle class work for money. The rich have money work for them.”
----------------------------------------------------------
Wish me luck on my journey to be 'financially free'. Do you think I could achieve that?!
TEH
It could means ... we do not need a full-time job, if we do not want to work. It could means ... we are FREE ... to go anywhere or buying anything(within normal simple human needs) ... and could stay afloat, financially.
What is it meant to me, a simple ah-pek without much material-needs?
First, I do not need to have a full-time teaching job. I have been teaching for past 22 years ... loving it but it is lowly paid. SERIOUS ... with below RM60k per year, I am in a averagely LOW income bracket. My youngest brother is earning 40% more than me now!! The low income would not give me much to save ... in fact, my current family expenses is higher than my full-time salary. You need to check that these lecturers are of low-average income people who could not afford anything much. Well, unless their parents are 'rich' ... that is another story la.
So, I will not need to work under tremendous stress of teaching and loads of paperworks ... if I am financially 'free'. If I am to rely only on my salary, I am broke and living in credits now(will you please donate RM5 per month ... I promised to write interesting posts, ok?) ... salary itself is NOT enough in my case. I have houses, a car ... two on-goings kinder kids. I can say that my kids like good restaurants! Ouch.
Secondly, I will have TIME ... free time to do what I like to do. What will I do if I m not working? Being a simple person, I just wish to sit in a library ... for few hours doing some readings(of my interests). I will surf the net ... to check on some relevent news(who married Lau Tak Wah or who killed the Mongolian lady is not of my concerns).
TIME is money for me at the moment ... besides my full-time job, 8am to 4pm, I do have to complement my low-income with tuition classes. Based on my rate(RM120 pr hour), I need 10 hours of classes per week to earn my 'salary'. So, that would be around RM100k per year now. Thank God for providing me streams of students ... looking for me for tuition. I do still need few more classes, and if I need to teach during weekends and nights, I will ... exchange my TIME = MONEY. Yes, it is a good income .... but I still need to be there ... to teach. No tuition, no classes ... no income.
With the E-quadrant and S-quadrant filling most of my waking time, I have little time left ... I do not have entertainment in my lives(since 7 years ago after reading RDPD and understanding delay gratification concepts of persoanl finances) ... the only joy I could have is few short moments playing with my kids!!
Anyway, to make TIME ... I have to wake up when many still sleeping ... and sleep late at nights. TIME ... to read, to reflect, to plan ... to think ... to imagine ... time to analyse ... and I did not rest much, did I? Hmm ...
Moving into B-quadrant ... that was tough and faced failures so far. But, I know I will move away from E to B ... once given the chance. With my tratles group growing, I may want to find some partners there ... those willing to work togther, having similar goals ... of acheiving our business-goals. NOTHING is without RISK ... failing is just a norm. Take it. And do check these pages to see if I m moving to B-quadrant ... perhaps those skeptical and cynical readers may want to see me 'fail'? Dont worry, even if I failed my ventures OR fail to even start ... I will still write it here(for my records and viewings) ... and reflect and pull myself UP again. Winners do not quit, right?
I am in the I-quadrant ... have struggled to understand financial instruments ... trading and investing in equity-markets. I have learnt to take advantage of the 'mis-pricing', fundamentally and technically. I am sharing it with many ... and as I am having my own trading-group now, the money I earned will still directly moving into I-quadrant. Yes, do not use those 'extra' money you have earned or profitted ... let it grow and compound. If one could get a 10-20% profits per year ... that is GOOD and that is how we grow our accounts ... slow and consistent. I am teaching my tratles that ... we want to learn fundamentals ... we want to learn to trade ... we want to take profits and with increasing knowledge and experiences, our trades will be more consistently profittable. Be patient ... it will grow(at least I hv grown my well).
So ... what is financially free for me? To be able to have my own free time to do simple things I like, not needing to answer to my immediate bosses, struggling with paper-works ... and tied to a place!!
Am I going to acheive my simple goal? How much of MONEY do I need in my a/c for me to consider as financially free? RM1 million? Hmm ... to me, it is NOT the amount. As I do not spend much(and I dont see myself change my frugal life-style) ... the amount is just a number. But it needs to be significant amount to cover my kids schooling expenses, to cover health expenses, daily expenses ... and some extras for charity.
I do have my very own defination of 'financiall free' ... and being simple and humble is good. It is easier to achieve and more realistic. Honestly, I do see my chances of financially free ... a reality in 5 years to come. I am 45 ... by 50, I do hope I wont need a full-time job, I will teach Maths or Trading for passing of my time(and teaching is my passion ... hopefully, I could reach out to help more newbies in markets ... and my whole group will continue to help others!!) ... and I will like to take lives SLOW ... retiring in Sabah and Penang/Malacca. These are all in my plans now ...
I will write a book ... I hope the proceeds will go to some charity or perhaps, I could start a 'foundation' ... in helping many traders/investors who are losing money and needs education. Seriously, MANY do need education to be in markets. I hope to provide that platform, one day ... with the help of my tratles.
Note : Since 1st Jan 2011, my counters hit 500, 000 yesterday. Thanks for being such a nice audience. I am still motivated to blog ... and write what in mind or what I am doing(minus chart analysis which only shared with my groups).
Thanks!!
For reading purposes : Taken from http://www.millionaireacts.com/
Quadrant 1 – EMPLOYEES. I do think that most of us belongs here. We have a job. We have to work hard, follow instructions from our bosses and superiors and get paid. We don’t own our time. These are people who love security or tenure. They will work hard to climb up the corporate ladder. The higher they climbed the ladder, the higher they pay is. Sad to say, the higher their pay is, the higher also their taxes. And it’s not them getting rich, it’s their bosses, it’s their company. Time will come, they will get tired. Their body will collapse because of age. And when they stopped working, they will also stop receiving income.
Quadrant 2 – SELF EMPLOYED – They work for themselves. The difference with the employees is that self-employed own their time since they don’t have superiors. They can decide for themselves. These are people who loves to be independent. They don’t want to work for others, instead they want to work for themselves. These are doctors, lawyers, and small business owners. But still, they are an employee of themselves. And if they stopped working, they will also stop receiving income.
Quadrant 3 – BIG BUSINESS OWNERS – They love delegating tasks. They concentrate their efforts more on activities which produces most profits. They hire people who are more intelligent than them to do the work for them. They have built a solid system and they own it. They have built their resources to make this possible. And so they can leave for vacation and can leave work for some time but still earns money because there were people working for them. Examples of this are the taipans and tycoons and some franchisers who have built a solid business.
Quadrant 4 – INVESTORS – These are people who have built their assets and are not working for money anymore. Instead, the assets they have accumulated works for them providing them constant income even if they don’t work. These are people who are called “living on interests”. They are living thru the interests of their assets and investments. Money works for them. They have invested their money to have more money. They can differentiate which one is an asset and which one is a liability. Examples of these are investors in the stock market, real estate, etc.
Did you see the difference? The only way to escape from the rat race is by travelling from active income to passive income, from employee or self-employed to becoming a big business owner or investor. And this is the challenge that Robert Kiyosaki left to us readers.
As a final note, I’m leaving this quote from Mr. Kiyosaki.
“The rich buy assets. The poor only have expenses. The middle class buys liabilities they think are assets. The poor and the middle class work for money. The rich have money work for them.”
----------------------------------------------------------
Wish me luck on my journey to be 'financially free'. Do you think I could achieve that?!
TEH
Tuesday, June 26, 2012
Monday, June 18, 2012
Wednesday, June 13, 2012
I'm in love with stock investing
Yes. I'm still in love with stock trading. Deep in my heart, i'm always thinking to make some trading in KLSE but my capital stopped from doing that. I have to save my money from now on , so i can do trading again in KLSE. I have to learn not to trade if i don't have money and no more play contra. So short term trading is a big No for me maybe one a while can do if the trade can really give big money for me...The best is medium and long term. Human nature for everybody to make money as fast as possible but must remember the faster you making money, the faster you will be losing money. Why?? Greedy!!
3 Ways to Reduce Your Exposure to Inflation
3 Ways to Reduce Your Exposure to Inflation
1. The Right Investments
Some investments can help you beat inflation. If inflation runs at an annual 3%, and your annualized return is 6%, then you come out ahead. Your money is growing at a faster rate than inflation. Many people like dividend stocks, since the value of the stock itself have the potential to grow, while providing you with an income. Certain dividend stocks can be very helpful when it comes to beating inflation. Commodities can provide an even better hedge against inflation, but the volatility of some of these investments will test your risk tolerance and knowledge to stay the course.If you are concerned about stocks, and too jittery about commodities, you can opt for something considered less risky. TIPS are Treasury securities indexed to inflation. So, your capital can be protected, and you get a little extra, without a great deal of risk. Of course, the lower your risk, the more your potential gains are limited.
2. Be Smart About Debt
Some will say that you should borrow as much as you can if there is runaway inflation because your debt won’t be nearly as costly in real terms if the price of everything goes up. Yet, with rates are relatively low right now, paying down debt as fast as you can will help you deal with inflation much more easily since you will have more cash flow to deal with rising prices as your money isn’t being sucked into debt payments and interests. So pay off credit cards while interest is a little lower, and more of your payment goes to principal. If you wait longer to pay off your debt, you might find that you might have to choose between paying your debt or buying groceries!While we are on this topic, now is also a good time to refinance, locking in lower rates. You can refinance your home to a lower rate, saving money each month so you have more to invest. If you have a variable rate, locking in can help you avoid interest rate inflation in the coming years. You can also find good deals on refinancing your car loan, as well as low debt consolidation rates to help you avoid higher rates later.
3. Lifestyle Choices
The way you live your life can also reduce your exposure to inflation. A healthy lifestyle will save you money money now, and will also result in slow increases to your health insurance premiums. While you can’t avoid insurance rate rises altogether, you can prevent huge rate increases every year with better health habits.You can also reduce your exposure to gas prices inflation by driving less. As you probably know, one of the biggest drivers of inflation recently has been gas prices. Walk more, or ride your bike, and consolidate trips to help you reduce your exposure to inflation. You can also talk to your boss about telecommuting two or three times a week. If you can avoid the commute, you can also avoid some of the gas price hikes.
What other ways can you reduce your exposure to inflation?
Subscribe to:
Comments (Atom)