I am not saying this is wrong but all I wanted to say is that we should spend time today to enjoy what we have for tomorrow may not come through to us. How long will you be able to work? If you want to work part time, have a family, or take a career break, for example, you’ll have to adjust your long-term income projections accordingly, which may affect tomorrow goals. Winding up with more money than you planned on is never a bad thing!

Goals, expenses, expenditures is part of our daily things and it is big things toward our life. If you’re the kind of person who can say that they want to buy a house in five years, good for you: that’ll be easy to put into your plan, and it should be comparatively easy to work out if — or how — it’s achievable within the context of your current income and expenses. If you’re the kind of person who did not plan to buy a house or saving for the future then you will take your own sweet time in life now.

I had houses but I lost it because of making some wrong business decision and it take away what ever I have. Suddenly I feel that the universe is fair for it will take away after it have given you. After spending nearly 10 years working and now I have work all over again to start saving.

Now a days I keep my life simple. Work for today and have enough to pay off my debt for today. Start enjoying today life and be happy for what ever you have. That’s financial freedom.

That is my goal now. I have learned my lesson.

With the petrol cost increase, electricity cost increase and the ever raising cost of living this is definitely a question to ponder. With the household expenses usually exceeding the income people had to work extra hours in a day to offset the rising cost of living.

A survey conducted by Fomca concluded that a household monthly income of RM3,000 was inadequate to sustain a family comprising two adults and four children in the city.

Expenditures – cost per month
Housing mortgage – RM600.00
Car Loan Mortgage – RM500.00
Food Expenditure – RM500.00
Transportation/ petrol/ toll - RM600.00
Education, tuition and reading materials – RM500
Clothes and household expenses – RM300
Total Expenditures – RM3,000.00

Sources from the Star.

It looks like enough! But actually not.

They forget to include a compulsory 10% saving to the longterm saving that we advocate to pay ourself first every time we receive our paycheck. This 10% financial freedom account must be done every month and everytime  we receive our income despite whether the ecomony is bad or good.

Here are some unpopular tips to overcome the problem.

1. Always pay yourself forst. Save 10% of the nett income to your long term financial freedom account.

2. From the balance 90% then work and rework out the monthly expenditure until it is equal or below the balance after paying to ourself. Cut down on unnecessary expenses or purchases and delete nonessentials from the list.

3. Avoid new debt. Be pratical with the credit card use.

4. Work part time either from home or outside the home. It may be difficult but it is better to have extra money than be comfortable at home. Earn that estra income. Again save 10% first then the balance either to be used in the household expenses or to pay off your debts.

5. Learn new skills. Computer, acccounting, salesmanship or interne or anything. Try to match these skills with your own interest or hobbies. One day you might be able to generate extra income to you.

Hope this help. I too have to make a new list for my monthly expenses.

To Your Millionaire Success
Michael Liew

When asked what he plans to do as a brand new multimillionaire, the US lottery winner Robert Harris answered simply “Live happy.”

Before this he used to work overtime just to make ends meet for 20 years. He and his wife, Tonya lived in a trailer while dreaming of building a big house in the country where their two children and six grandchildren could visit.

Now his dream comes true.

But Tonya said the money doesn’t mean they will stop being the simple folks they’ve always been – to stay simple.

One of the lessons I learned from this couple is they live simple in this case in a trailer  and they make sure that they can go through each day of their life by working hard. In between their life they have a big dream that is one day they could build a big house of their own.

Their dream is a valid dream that is to build a proper house so that their children and grandchildren could visit them and stay with them.

Then they took action. They bought two US$1 lottery ticket and with a hope and luck that they could win something. If they did not win anything they is nothing to lose because they life still go on. They work hard and stay focus with their dream.

This is an inspiration in another way for me.

To Your Millionaire Success.
Michael Liew

Learn from millionaires

Let us analyze these millionaires that have been successful in their lives and accomplished their objective of financial freedom. They all have had some skills that have helped them in financial freedom. Here are some key elements of their personality, the strategies they adopted and the rules they followed in their lives.

Importance of working with people

The biggest advantage that these millionaires have in financial freedom is that they are masters in the art of team work. Having the right kind of people to work with you and knowing how to handle them is the most important tool that you have in your hands for financial freedom. You can observe that whenever and wherever someone has made a great fortune there¡¦s a group of talented people was involved.

Power of decisiveness

Power of decisiveness ability is also very important for financial freedom. You should have the ability of going through the pros and cons very quickly to reach at any decision. Once, you make it a habit you will always be at an advantage over others when it comes to cashing on any opportunity.

The characteristic of persistence

Every one who is successful in financial freedom is persistent with his work. You should also be ready to develop this quality. Instead of giving up at an early stage you should be prepared to work for extra hours. Make use of whatever you do for getting new ideas for financial freedom. Go through the financial related magazines that provide many useful suggestions in this regard. Write down these ideas and analyze them on a regular basis. You don’t know when a particular idea clicks and you get an opportunity to reach your goal.

Resourcefulness of time

An important characteristic that is present in the personalities of all millionaires is good time management. Understand the importance of time. When you are putting all your efforts into making money then wasting time can be detrimental to your efforts. After all, all of us have been grown up listening to the popular phrase “Time is money” right from our childhood.

Article by Thomas Tsai

Under the new scheme, contributors, irrespective of age, will be able to withdraw from Account One what is in excess of a “required amount” of savings as determined by the EPF and invest the money in unit trusts…

…EPF has established a set of “required amounts” for contributors depending on their age. 
The amounts are based on the assumption that a person would need at least RM120,000 – or RM500 a month – from retirement at 55 to age 75. 

He said a contributor could withdraw 20% of the amount in excess of the required amount for investments in unit trusts. 

“For example, if a 25-year-old has RM20,000 in Account One, he can take 20% of the excess to invest once every three months. This is because his required amount is only RM9,000,” he said. 

Sources from http://www.thestar.com.my.

This is good news for those who like to invest more in the unit trust fund.  Also more good news to unit trust agent as they more opportunity to promote more investment.

Unit trust investment is one of the way to see good return in investment although it require more time (like 10 years or more) to see the result and the downside is also true because of the inherent risk.

Do you agree to invest in unit trust fund? Not me because I like to manage my own money.

Each one of us wanted to reach our financial freedom and have wealth so that we can get away from the poor and mediocre life. We have been living this life far too long and it is about time we cross to one high up level to live our life to the fullest.  The financial freedom and wealth seem to be difficult to reach and the only hope I have is my BELIEF.

Every morning I visualize my goal to be a millionaire and to be able to live my life to the fullest. I am a money magnet. I am good to the money and money is also good to me.  Today is my best day of my life and I will not waste a second of it.  It is my step to reach my goal.

To your millionaire success.

Michael Liew