I have never been a believer of getting rich quick schemes, success to me is nothing but 1% inspiration and 99% perspiration – with an element of luck that will only come along to those who are prepared.

Ultimately, no matter who you are, I believe that becoming rich is a result of the lifestyle habit you have to cultivate over the years.

If you want to get rich, you will need to start building on your knowledge and start learning how to invest. More than that, you would have to commit and stick to a systematic savings and investment plans – for years to come.

They say that it takes 21 days to cultivate a new habit and once you have cultivated that habit, it will be stick for life.

“If you create an act, you create a habit. If you create a habit, you create a character. If you create a character, you create a destiny.”

Did you know that assuming a 12% annualized return, to accumulate $1 Million by the age of 65, a 20-year-old would only need to save $61 per month while a 40-year-old would need to save $625 per month while a 55-year-old would need to save $4,749 per month? The moral of the story is, start saving and investing early!

My tips on savings:

  1. Always save before you spend and NOT the other way round – saving what is left after spending!
  2. Come out with a fixed percentage level as a percentage of your monthly income, on how much you would like to save every month – and stick  to it!
  3. Cut down on your unnecessary spendings

My tips on investing:

  1. Read The Intelligent Investor book by Benjamin Graham (I can send you the PDF file version if you’d like, text me!)
  2. Read widely on world current affairs (you can download CNN and CNBC free apps on your phone’s app store to get the latest updates on world’s news)

This is a story once told by one of the greatest life-coach of all time, Mr. Jim Rohn:

“Twenty years ago, two people each earned a $1,000 a month and they each earned the same increases over the years. One had the philosophy of spending money and saving what’s left; the other had the philosophy of saving first and spending what’s left. Today, if you knew both, you’d call one poor and the other wealthy.

So, remember that giving, investing and saving, like any form of discipline, has a subtle effect. At the end of the day, the week, the month, the results are hardly noticeable. But let five years lapse and the differences become pronounced. At the end of 10 years, the differences are dramatic.

And it all starts with the same amount of money—just a different philosophy.”

If you would like to know more on how to get started in investing and coming out with a systemic savings plan that I have personally used for the past 4 years, feel free to text me at (+65) 8394-6824!

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Further Reading:

2 Key to Be Succesful In Value Investing.

#FAQ: What Is Value Investing?.