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Chitchat Six money tips from someone who saved $1 million by age 30

ginfreely

Alfrescian
Loyal
wen u dun concentrate wen u wok, u bump in2 other pipz n things n kena knocked down by vehicles ...

wen u dun concentrate wen u tok, u utter rubbish ...

wen u dun concentrate wen u shop, u buy wrong thing n kena cheated ...

stay focus on wat u r doing ...

Let the audited results speak for themselves whether got concentrate on work or not. Shit don't clear by themselves for sure just like money don't drop from the sky.
 

Wunderfool

Alfrescian (Inf)
Asset
happiness.jpg



02129b53e80726528f52015e36427b37.jpg




quote-buddhist-meditation-doen-t-necessarily-mean-sitting-cross-legged-with-your-eyes-closed-thubten-yeshe-126-51-71.jpg

He is the brother of Yun Fatt.

yun fatt.jpeg
 

mojito

Alfrescian
Loyal
He did not mention what those sidelines were, and how he made money from the websites. Not to be a wet blanket but I would take the advice with a bucket of salt.
 

maxsanic

Alfrescian
Loyal
I'm usually very skeptical of this kind of "let me tell you how rich I am" articles which supply lots of teasers and general ideas on how to get rich, but provide not an iota ofevidence or specific on how the subject got rich in the first place.

Case in point was an article from MSM did many years ago where a subject was interviewed as a highly successful property agent who invested his commissions and as a result got rich and retired early. This individual made a lot of claims sharing his nuggets of wisdom all over the article which were vague although somewhat logical in a broad sense.

The only kicker is I happened to know this guy in person and the real reason why he was so successful in property brokerage is because his dad is a property tycoon and invests in a lot of residential & commercial properties. Whenever the father enters into a property transaction, the son naturally got appointed as the broker and made whopping commissions as a result. This fact was conveniently left out of the article which resulted in a completely inaccurate interpretation even if every word in the article is true.
 

CoffeeAhSoh

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Loyal
to wake up in the morning and able to read this thread each morning - you are already worth more than a Million...



Steve Jobs' Last Words Will Make You Change Your View Of Life Completely!
I reached the pinnacle of success in the business world.
In others’ eyes, my life is an epitome of success.
However, aside from work, I have little joy. In the end, wealth is only a fact of life that I am accustomed to.
At this moment, lying on the sick bed and recalling my whole life, I realize that all the recognition and wealth that I took so much pride in, have paled and become meaningless in the face of impending death.
In the darkness, I look at the green lights from the life supporting machines and hear the humming mechanical sounds, I can feel the breath of god of death drawing closer…
Now I know, when we have accumulated sufficient wealth to last our lifetime, we should pursue other matters that are unrelated to wealth…
Should be something that is more important:
Perhaps relationships, perhaps art, perhaps a dream from younger days …
Non-stop pursuing of wealth will only turn a person into a twisted being, just like me.
God gave us the senses to let us feel the love in everyone’s heart, not the illusions brought about by wealth.
The wealth I have won in my life I cannot bring with me.
What I can bring is only the memories precipitated by love.
That’s the true riches which will follow you, accompany you, giving you strength and light to go on.
Love can travel a thousand miles. Life has no limit. Go where you want to go. Reach the height you want to reach. It is all in your heart and in your hands.
What is the most expensive bed in the world? – “Sick bed” …


Steve-Jobs.jpg




You can employ someone to drive the car for you, make money for you but you cannot have someone to bear the sickness for you.
Material things lost can be found. But there is one thing that can never be found when it is lost – “Life”.
When a person goes into the operating room, he will realize that there is one book that he has yet to finish reading – “Book of Healthy Life”.
Whichever stage in life we are at right now, with time, we will face the day when the curtain comes down.
Treasure Love for your family, love for your spouse, love for your friends…
Treat yourself well. Cherish others. SOURCE :speakingtree



 

kryonlight

Alfrescian (Inf)
Asset
The only kicker is I happened to know this guy in person and the real reason why he was so successful in property brokerage is because his dad is a property tycoon and invests in a lot of residential & commercial properties. Whenever the father enters into a property transaction, the son naturally got appointed as the broker and made whopping commissions as a result. This fact was conveniently left out of the article which resulted in a completely inaccurate interpretation even if every word in the article is true.

The majority of the world's wealth is inherited. Donald Trump is a good example. Those who are truly self-made are far and few. The majority of us have to slog our lives and be slaves, and then scrimp and save in order to retire early. Or you wait in vain for your turn at the lotto station. In the Singapore context, that means you forgo marriage, kids and car. There's no point working so hard until 70 years old when you see the truth so clearly. The most important thing to remember is to enter the correct human womb to the correct human family in your next life.
 

frenchbriefs

Alfrescian (Inf)
Asset
The majority of the world's wealth is inherited. Donald Trump is a good example. Those who are truly self-made are far and few. The majority of us have to slog our lives and be slaves, and then scrimp and save in order to retire early. Or you wait in vain for your turn at the lotto station. In the Singapore context, that means you forgo marriage, kids and car. There's no point working so hard until 70 years old when you see the truth so clearly. The most important thing to remember is to enter the correct human womb to the correct human family in your next life.

actually according to forbes "Forbes said that wealth in America has become far more meritocratic over time. It said that in 1984, "less than half of those on The Forbes 400 were self-made; today, 69 percent of the 400 created their own fortunes." "

millions of millionaires are added every year to the existing pool of millionaires,number of billionaires have grown exponentially,in 1987 there were 140 billionaires in the world with 90 in america,today theres over 2000 billionaires,148 billionaires were created in 2016 according to wealth X.if wealth was inherited it would have remained relatively constant or even shrunk.

we all know wealth seldom last past 2 generations.

according to times,70 percent of rich families lose their wealth by the second generation.look at vanderbilt for example,once the richest man in america worth over 200 billion,by the fourth generation the empire was largely gone.
 
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frenchbriefs

Alfrescian (Inf)
Asset
When Stephen Lovell used to visit his grandparents as a kid, it was like entering the world of Cole Porter or The Great Gatsby.

People dressed in tuxedos and sipped cocktails. They owned boats, airplanes, a hobby farm. Not to mention a lavish mansion in Ontario, Canada, and a summer home in Southampton, New York.

He estimates that his grandfather, who founded the John Forsyth Shirt Co, had a fortune of at least $70 million in today's dollars. But through a combination of bad decisions, bad luck, and alcohol dependency, the next generation squandered that money.

"I think about it all the time," says Lovell, a financial planner in Walnut Creek, California.

Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.

U.S. Trust recently surveyed high-net-worth individuals with more than $3 million in investable assets to find out how they are preparing the next generation for handling significant wealth.

"Looking at the numbers, 78% feel the next generation is not financially responsible enough to handle inheritance," says Chris Heilmann, U.S. Trust's chief fiduciary executive.

And 64% admit they have disclosed little to nothing about their wealth to their children.

The survey lists various reasons: People were taught not to talk about money, they worry their children will become lazy and entitled, and they fear the information will leak out.
 

kryonlight

Alfrescian (Inf)
Asset
millions of millionaires are added every year to the existing pool of millionaires,number of billionaires have grown exponentially,in 1987 there were 140 billionaires in the world with 90 in america,today theres over 2000 billionaires.if wealth was inherited it would have remained relatively constant or even shrunk.

You forgot that the world's population also increased by 2.5 billion from 1987 to 2017. And the billion that you can buy in 2017 is so much less than the billion you can buy in 1987. Nothing has changed. The majority of the world's wealth is still in the hands of the few which will be passed down to their next generation.
 

frenchbriefs

Alfrescian (Inf)
Asset
You forgot that the world's population also increased by 2.5 billion from 1987 to 2017. And the billion that you can buy in 2017 is so much less than the billion you can buy in 1987. Nothing has changed. The majority of the world's wealth is still in the hands of the few which will be passed down to their next generation.

sure inflation has increased the money supply in circulation,but its also way more easier to become a millionaire from nothing and even a billionaire nowadays,just think about it,148 billionaires were created last year,more than the total number of billionaires that ever existed in 1987.how many millionaire home owners there are today,go to sinkie investment forums and look how many six and seven figure portfolios there are,i know two sinkie bloggers who has 300k portfolios in their thirties,one guy just reached 500k milestone and hes 31,and another with 3m portfolio and hes in his 40s.

world population increased by 50 percent,billionaire population increased by 1000 percent,number of ultra high networth individuals in the world(net worth of 30 million and above) is now 211,000.i remember it was like 65,000 back in 2004 or 2005,theres 12 million millionaires in the world now with 154,000 in singapore.even math teacher can be millionaire by 29....so easy to be millionaires nowadays just need to know a bit of maths and common sense,of course majority of the world's wealth is in the hands of a tiny percentage of the population,thats the way it should be and always be.
 

Narong Wongwan

Alfrescian (Inf)
Asset
The majority of the world's wealth is inherited. Donald Trump is a good example. Those who are truly self-made are far and few. The majority of us have to slog our lives and be slaves, and then scrimp and save in order to retire early. Or you wait in vain for your turn at the lotto station. In the Singapore context, that means you forgo marriage, kids and car. There's no point working so hard until 70 years old when you see the truth so clearly. The most important thing to remember is to enter the correct human womb to the correct human family in your next life.

Yes true. This famous quote from Gordon Gekko summed it up

"The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit."
 

frenchbriefs

Alfrescian (Inf)
Asset
Yes true. This famous quote from Gordon Gekko summed it up

"The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit."

that movie came out in the 1980s.

yes i suppose its true less than half of the wealthy were self made,its different today,entrepreneurship is at a all time high,70 percent of billionaires are self made today.
 

JohnTan

Alfrescian (InfP)
Generous Asset
6 money tips from John Tan

1) Rule 1 of getting rich: Up your earning power. Attend WDA courses to upgrade your professional skills.

2) Set up multiple streams of income - rent, dividends, odd-jobs, etc

3) Network and make more friends. Join the grassroots.

4) Improve your personal grooming - lose weight, exercise, get a proper haircut

5) Choose the right spouse. Paying alimony, losing assets and kids in a divorce can be a career killer, even for towkays.

6) Always dare to take some form of risks. You miss 100% of the shots you do not take.
 

kryonlight

Alfrescian (Inf)
Asset
world population increased by 50 percent,billionaire population increased by 1000 percent,number of ultra high networth individuals in the world(net worth of 30 million and above) is now 211,000.i remember it was like 65,000 back in 2004 or 2005,theres 12 million millionaires in the world now with 154,000 in singapore.even math teacher can be millionaire by 29....

Yes, the record quantitative easing by Fed has sure created lots of "millionaires". But the party is over now.
 

zeebjii

Alfrescian
Loyal
actually according to forbes "Forbes said that wealth in America has become far more meritocratic over time. It said that in 1984, "less than half of those on The Forbes 400 were self-made; today, 69 percent of the 400 created their own fortunes." "

millions of millionaires are added every year to the existing pool of millionaires,number of billionaires have grown exponentially,in 1987 there were 140 billionaires in the world with 90 in america,today theres over 2000 billionaires,148 billionaires were created in 2016 according to wealth X.if wealth was inherited it would have remained relatively constant or even shrunk.

we all know wealth seldom last past 2 generations.

according to times,70 percent of rich families lose their wealth by the second generation.look at vanderbilt for example,once the richest man in america worth over 200 billion,by the fourth generation the empire was largely gone.

All these are bullshit stats and the lose-wealth-in-three generations myth to make us sheep feel good. Do you seriously 70% of kids/grandkids of the waltons/mars family/koch brothers/bill gates/warren buffet etc will lose their entire family wealth?

No need to look far, which second or third generation of the super rich in singapore have lost their wealth? Like the yeos of yeo hiap seng, they may have lost control of the business, but they are still be very wealthy. Of course there are exceptions, so no need trough the internet to pick out the exception to counter the obvious hard painful truth.
 

frenchbriefs

Alfrescian (Inf)
Asset
All these are bullshit stats and the lose-wealth-in-three generations myth to make us sheep feel good. Do you seriously 70% of kids/grandkids of the waltons/mars family/koch brothers/bill gates/warren buffet etc will lose their entire family wealth?

No need to look far, which second or third generation of the super rich in singapore have lost their wealth? Like the yeos of yeo hiap seng, they may have lost control of the business, but they are still be very wealthy. Of course there are exceptions, so no need trough the internet to pick out the exception to counter the obvious hard painful truth.

Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.

i believe the statistic actually,u are just cherry picking the few examples u know to substantiate ur argument,but its too early to tell anyway,singapore's filthy rich has only been around for 2 or 3 generations.how many sinkies u know come from generations of super rich lasting back to tan kah kee or tan tock seng days?i can bet theres practically none left,so what if the yeos are extremely wealthy?they already lost the family company,thats a huge sign of trouble....theres a bunch of rockefellers around thats still worth a couple billions,but compared to what their great great great grandfather rockefeller what they have is peanuts......think about it,every time a generation dies.their fortune gets split up among the children,and not just the children,the wife and family and relatives are all vying for a share too,and a portion of it goes to charity or philanthropy,and these children go off on their own and start their families,by the time it reaches the third or fourth generation the initial family fortune has been chopped and diced up into tiny gong bao diced chicken.not to mention the second and third generation tend not to possess the same talents and skills as the first generation,either they have no idea how to grow the fortune or businesses or they run the company into the ground,or they are spendthrifts and just do not give a damn about the family business.
 
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