How Rich are you? Here is the Benchmark

Credit goes to KCLau for this article: How rich are you? Most people are reluctant to answer because there are only 1% of the population are rich! However, if you are to respond to such a question honestly, what would it be? Would you answer “I have two houses, three cars, a few FD, etc.”, or “I am worth RM300,000?, or “I earn RM20,000 a month” etc.

There are many ways to state our wealth. In fact, wealth is more appropriate to be indicated by “time”, not the amount of “asset” we have.

This is the formula:

Wealth = How long we can continue and maintain our lifestyle without working?

According to the above formula, this is how we should state our wealth:
I can maintain my current lifestyle for ten years without working. How long would it be for you? How wealthy are you? 3 months? 1 year? I read the book The Millionaire Next Door back in 2001. It is a marvelous book!

Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.

One’s expected net worth (ENW) = Age X(Realised Pre-tax Annual Household Income exclude inherited income)/10

Example, Mr. Lee’s annual income is RM100,000, age 35.
Lee’s expected net worth = 35 X RM100,000 /10 = RM350,000.
According to Dr. Thomas J. Stanley (the author), there are three categories of wealth accumulator:

1. PAW – Prodigious Accumulator of Wealth
2. AAW – Average Accumulator of Wealth
3. UAW – Under Accumulator of Wealth

If Mr. Lee’s net worth is RM800,000, which is more than two times of ENW, he is a PAW.
If Mr. Lee’s net worth is RM50,000 only, which is less than half of ENW, he is a UAW.

Let’s calculate ours, which category do you belong to?

Simply, just divide your age by 10, and multiply it by your current income. This should give a rough estimate of your expected net worth should be.

31 Days of Productivity

31 Days of Productivity

The above infographic showcases 31 days of productivity. Here are some of them that I shall pick up at random. Drink water as soon as you wake up. It is recommended to drink 2 glasses each morning before breakfast due to the 8 hours of fast or sleep. Organise your workspace and declutter unnecessary stuffs. Meditate for 10 minutes to recharge your inner being and rejuvenate your soul from the hustle and bustle of working life. Choose one task and automate it or delegate it. Let someone better do the troubleshooting if that is your weakness and spend productive time doing something else that you are good at and earns you more money.

Don’t spend too much time doing mundane things that appear to be your weakness and instead, concentrate on doing something which is your strong point. Eat a healthy meal such as fruits and vegetables, minus the carbohydrates if possible. And don’t forget to hug someone who loves you; could be your pet! 🙂

Reward yourself for your biggest accomplishment of the month. And whatever money you made, try to spend less than you earn for a golden retirement in years to come. Hopefully it is not woeful one like a real case in point: an accountant was afflicted with diabetes and could no longer work; finally without constant income, he had to sell off his house and live in the streets, becoming homeless with no family or friends to visit him. Such is a destitute case despite being a professional in his younger years! This is one extreme case, but we always hope and pray for the best and be generous to others so that wealth will come to you. What you fear in your heart may become a reality. So always focus on positive thoughts despite all the negative news and events happening worldwide.

10 Habits of Self-Made Millionaires

10 Habits of Self-Made Millionaires

From Visually.

The above infographic is certainly pertinent to our current society, regardless of where you stay or which country you are from. Here, I shall summarise the 10 Habits of Self-Made Millionaires below:

1) Thinking in Abundance – 2.3 trillion dollars are circulating around the globe everyday; are you one of the number of active participation?

2) Surround Yourself with Like Minded Individuals – you are the sum of 5 people you spend the most time with.

3) Shift Focus from Spending Money to Making Money – instead of becoming a consumer, become a producer.

4) No TV!

5) Have Multiple Streams of Income – eg. rental income, fixed deposits, dividends, shares, online income, etc

6) Be Generous – Blessed are the generous for they will obtain wealth.

7) Have an Exit Strategy – Ultimately all multimillionaires and even billionaires get their biggest breaks when they sell their business.

8) Get into Properties – Properties will hedge against inflation and earn you rental income like Airbnb, HomeAway, VRBO, etc

9) Leaders are Readers – read widely and be voracious readers to gain insights into the minds of successful people.

10) Always be Hustling – no point dreaming without taking action.

So, there they are. The 10 Habits of Self-Made Millionaires. Read the infographic for more details by double clicking on it. Hope you enjoy reading this as much as I do.

16 Simple Motivation Tips to Get More Done

16 Simple Motivation Tips to Get More Done

The above is a detailed and long infographic specially designed to show case the 16 Simple Motivation Tips to Get More Done. As it is self-explanatory, I shall not go into detail other than the summary. It is pertinent to me too and teaches one not to be a perfectionist but to be excellent in whatever endeavour your pursue. Also plan for tomorrow by tonight or jot down roughly what you want to do and spend the time productively; you can also plan it in your head, instead of jotting down if you can remember.

As for me, I am too lazy to jot down, so I always plan ahead and try to maximise the time that I have NOW. It is also good to give back to society to invest in life after death. Do some charitable work or pray and spend some quiet time alone with God to recharge and let the Holy Spirit be your beacon of light to guide you through this treacherous path called ‘life’

Get the right tools and use technology to help you out. The internet is your world of oyster where all informationn can be found. Just know how to separate the wheat from the chaff. Also, enjoy the moment and don’t sleep too much; otherwise you will come to poverty. Anyone who loves to eat, enjoy life and sleep without working or lifting a finger will surely come to poverty and become hungry.

While working, enjoy your life and sometimes pamper yourself now and then like eating delicacies or going for spas and massages to help rejuvenate and destress to chase the blues away. Live life to the fullest and work hard and smart. Whether you are in business or working for others as an employee, remember to save more than you spend to save up for your retirement so that it is golden and not woeful.

How to Choose a Site Category that Hits Jackpot

This was taken from Magenet email notice to me:

Choosing a site category or niche is one of the first things you would want to consider if you have monetization in your future plans. The first idea could be to create a website or blog with a range of topics to attract a bigger audience. Well, the practice shows, this is not a good choice.

According to ShoutMeLoud, blogs that try to cover multiple topics perform worse than those concentrating on one single niche and digging deep in it. Of course, there are different definitions to “perform good/bad”, we’ll take monetization as a main determining factor.

Why do you need a site category?

What affects monetization of a website in the first place? Correct, it’s traffic! The more traffic comes to your site, the more money you’ll be able to earn. Now come two reasons that prove that a specialized site is going to be more profitable than a generalized one. A too general subject of a site makes it difficult for you to get a loyal audience. As the readers don’t know what to expect from following your site, they may hesitate while subscribing to your news. In the modern world, we don’t have time to read all the information that’s coming to us, and prefer to get the most relevant and interesting features on the most needed topics.

Acquiring organic traffic by search-engine optimization gets extremely hard if you target a huge variety of keywords. Moreover, if you follow SEO-changes that are happening in the online world at the moment, you know that search engines, namely Google, value authority, and competence. It’s hard to demonstrate a high level of proficiency on different topics and be a valuable source of information in the eyes of Google. On the contrary, extremely specific blogs tend to demonstrate impressive results in search engines even with basic SEO.

Below is a graphic image of those categories that bring in the most moolah, thanks to Magenet.

The image above is self-explanatory – with Legal and Employment Services bringing in the most money respectively. Well this is according to Average Cost Per Click in Google’s Adwords – the ubiquitous advertisment platform, other than Facebook Ads catching up fast.

Here is another graphic image from Magenet Research that shows Business topics ranking the highest in popularity rate and Ad cost.

Just click on the image above to zoom in and see the details.

And should you be interested to earn from Magenet, just click on the LINK HERE

As of today, I have already earned USD 46.40 after 3 years and wait for the benchmark of USD 50 to withdraw. Check out the video below.

Habits of the Wealthiest People

The inforgraphic will take some time to load as it as very detailed and have lots of information that are educational. The wealthiest stay wealthier because of their habits that are routine that make them rich. And they are summarised as below:

  • 81% of the wealthy maintain a to do list
  • 44% of the wealthy wake up 3 hours before work
  • 63% of the wealthy listen to audio books during commute to work
  • 79% of the wealthy network 5+ hours or more each month
  • 88% of the wealthy read 30+ minutes or more each day
  • 86% of the wealthy love to read
  • 76% of the wealthy exercise aerobically 4 days a week
  • The wealthy eat less junk food as compared to the poor
  • >50% of the wealthy watch 1 hour or less of television daily while the poor watch many hours of reality TV
  • So, there goes, the 9 habits of the wealthiest people in summary where majority of them do the above and follow the regiment like daily habits. As it was said, a rich man has a large library; while a poor man has a large TV!

    Ringgit Lower Against the US$

    Ringgit Lower Against the US$

    The ringgit was lower against the US dollar Tuesday morning as the greenback bounced back from its lowest level in more than a year, lifted by stronger-than-expected readings on the US economy, dealers said.

    At 9 am(0100gmt), the local unit stood at 4.2810/2850 against the greenback compared with Monday’s close of 4.2760/2800.

    A dealer said the US dollar inched up Monday as US manufacturing and services flash surveys both showed the US economy was performing better-than-expected.

    However, investors remained cautious on developments concerning possible ties between Russia and aides to US President Donald Trump.

    Meanwhile, the ringgit was traded higher against other major currencies.

    It appreciated marginally against the Singapore dollar to 3.1411/1452 from Monday’s 3.1413/1459 and rose against the Japanese yen to 3.8467/8513 from 3.8620/8663 Monday.

    The local unit gained against the British pound to 5.5717/5774 from 5.5750/5815 on Monday and improved against the euro to 4.9814/9877 from 4.9841/9896, Monday.

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