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A Blog Posted By Singapore 's Youngest Millionaire

Discussion in 'Inspirational' started by Aman Singh, Nov 18, 2008.

  1. Aman Singh

    Aman Singh
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    Admin SPNer

    Jun 1, 2004
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    How this young millionaire likes to spend his money....What makes this
    young millionaire happy.....What is his advise on happiness...... READ ON

    A Blog Posted by Singapore 's Youngest Millionaire (Some myths) By Adam Khoo

    Some of you may already know that I travel around the region pretty
    frequently, having to visit and conduct seminars at my offices in Malaysia,
    Indonesia, Thailand and Suzhou (China). I am in the airport almost every
    other week so I get to bump into many people who have attended my seminars
    or have read my books.

    Recently, someone came up to me on a plane to KL and looked rather shocked.
    He asked, 'How come a millionaire like you is travelling economy?' My reply
    was, 'That's why I am a millionaire.' He still looked pretty confused. This
    again confirms that greatest lie ever told about wealth (which I wrote
    about in my latest book 'Secrets of Self Made Millionaires'). Many people
    have been brainwashed to think that millionaires have to wear Gucci, Hugo
    Boss, Rolex, and sit on first class in air travel. This is why so many
    people never become rich because the moment that earn more money, they
    think that it is only natural that they spend more, putting them back to
    square one.

    The truth is that most self-made millionaires are frugal and only spend on
    what is necessary and of value. That is why they are able to accumulate and
    multiply their wealth so much faster. Over the last 7 years, I have saved
    about 80% of my income while today I save only about 60% (because I have my
    wife, mother in law, 2 maids, 2 kids, etc. to support). Still, it is way
    above most people who save 10% of their income (if they are lucky). I
    refuse to buy a first class ticket or to buy a $300 shirt because I think
    that it is a complete waste of money. However, I happily pay $1,300 to send
    my 2-year old daughter to Julia Gabriel Speech and Drama without thinking

    When I joined the YEO (Young Entrepreneur's Organization) a few years back
    (YEO is an exclusive club open to those who are under 40 and make over $1m
    a year in their own business) I discovered that those who were self-made
    thought like me. Many of them with net worth's well over $5m, travelled
    economy class and some even drove Toyota's and Nissans (not Audis, Mercs,

    I noticed that it was only those who never had to work hard to build their
    own wealth (there were also a few ministers' and tycoons' sons in the club)
    who spent like there was no tomorrow. Somehow, when you did not have to
    build everything from scratch, you do not really value money. This is
    precisely the reason why a family's wealth (no matter how much) rarely
    lasts past the third generation. Thank God my rich dad (oh no! I sound like
    Kiyosaki) foresaw this terrible possibility and refused to give me a cent
    to start my business.

    Then some people ask me, 'What is the point in making so much money if you
    don't enjoy it?' The thing is that I don't really find happiness in buying
    branded clothes, jewellery or sitting first class. Even if buying something
    makes me happy it is only for a while, it does not last. Material happiness
    never lasts, it just give you a quick fix. After a while you feel lousy
    again and have to buy the next thing which you think will make you happy. I
    always think that if you need material things to make you happy, then you
    live a pretty sad and unfulfilled life.

    Instead, what make ME happy is when I see my children laughing and playing
    and learning so fast. What makes me happy is when I see my companies and
    trainers reaching more and more people every year in so many more
    countries. What makes me really happy is when I read all the emails about
    how my books and seminars have touched and inspired someone's life. What
    makes me really happy is reading all your wonderful posts about how this
    BLOG is inspiring you. This happiness makes me feel really good for a long
    time, much much more than what a Rolex would do for me.

    I think the point I want to put across is that happiness must come from
    doing your life's work (be in teaching, building homes, designing, trading,
    winning tournaments etc.) and the money that comes is only a by-product. If
    you hate what you are doing and rely on the money you earn to make you
    happy by buying stuff, then I think that you are living a meaningless life.
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