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Hiking Trail
  • FinAIMS


We all want to be wealthy.  However, to our dismay we discover that we are not there yet even though we have been working for years.  Why is this happening?

1) We do not know how

Looking back at my education, there wasn’t any subject about how to be wealthy?  We did however have to memorize a lot for exams.  Hopefully, we get good results, get into good universities and hence good jobs in good companies which gives good salary.  Note the word “good”.. its not ‘great’.  While we are taught about debit and credit, profit & loss statements or the balance sheet in accounting, we fail to see ourselves as a “company” with expenditure, income, assets and liabilities.

2) We are not prepared to take the right risk

No risk, no return.  We all know that.  However, we continue to not take the right risks to make good returns.  We prefer to be happy with a 3-6% rate of return because it gives us a sense of security albeit false.  We prefer not to think about the inflation monster which is destroying the value of our money.  We rather not experience an investment failing temporarily and always look for a guaranteed return which can either turn out to be disappointing or a scam altogether.

3) We are not prepared to do the things others do not want to do

If I told you to collect rubbish for a living, would you do it?  What if collecting rubbish will make you some money, would you do it?  What if collecting rubbish for 10 years will make you a lot of money, would you do it?  Sometimes getting wealthy means you must do something unpalatable (not unethical) to get there.

4) We do not have right attitudes towards wealth and money

We associate people who start up small businesses as those who have authority issues or too reckless.  And yet we are amazed that our local char kuey teow seller has a brand-new Mercedes? Have we met a dispatch boy who made it big in a small legitimate business and looked down on his success when our own finances aren’t great?

These were my own struggles.  I hope you don’t make the same mistakes.

Act Today, Own Tomorrow!

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