#6: How BUSY Are You?

Are you busy? I know I am! But it's good to be busy. It keeps you doing things that will move you forward in life and you can also learn quite a bit from it, provided you're doing something beneficial. However, are you sooooo busy that you can't afford to even deal with the most important things in your life, such as your wealth and health? 

I find myself guilty of that on the health side. I knew I should exercise at least 3 times a week to stay fit since ages ago, but I didn't. I knew I should take good care of my own diet, but I didn't. You know why?" I'm busy! I spend long hours at work and sometime work over the weekends, I don't have time to exercise! I'm tired enough. But maybe I'll get to it soon, very soon." Sounds familiar? You'd probably hear many people saying it, or even yourself. 

Fundamentally, we know that we should really do something about it (in my case, it is going to gym 3 times a week). Yet we stay busy at work. We stay busy doing something else like watching the TV, shopping, eating out. Don't get me wrong though, if we love doing those things, we should continue to do so, but we should also deal with the other important things in our life. 

Just face it: we are lazy. We want to stay busy so that we can avoid things that we don't want to face, such as wealth and health management. This is exactly what Robert Kiyosaki was talking about in his book, "Rich Dad, Poor Dad". Deep down inside, he said, we know it's true that we're living in denial. After all, who wants to break the comfortable habit and do something you do not have not much knowledge about? It's just like learning how to walk all over again. Fall down, stand back up, fall down again - it's just too much work. 

Here are the common reactions to the following 2 subjects:

1) Personal investment - I have my money in the savings account. Investing is too troublesome and it's too 'risky'. 

2) Exercise - Too much trouble, I want to enjoy life. Besides, I'm young so I can afford to procrastinate for a few more years! 

Now that you read about this and understand the classic paradigm most of us have, it's time to break the paradigm and do something about the important things you've been putting off for a long time. Let your desire for a better life drive you. Let your dream steer yourself out of the laziness zone. You can stay busy and do what you love to do, while at the same time allocate some time to deal with the important things like taking good care of your money and body. Robert Kiyosaki suggested, "be a little greedy". Not greedy in bad terms, not that. It's being a little greedy in the sense of yearning for exciting things and better quality in life. Keep that desire under control and you'll break free from the trap of "lazibusiness". 

As for myself, I'll be moving to a new apartment with fitness center, so I won't have the excuse of not going to gym because it's too far away or it's too expensive. Beginning from July 1 (specified time), I'll go to gym 3 times per week (clear goal) - no more (be realistic), no less (be consistent). 

Now, if you're thinking about personal investment, start doing that by visiting my post on 401k/IRA. If you're thinking about staying healthy, I like this Fitness 101 article. If you're thinking about learning a totally new subject, go to the bookstore and get a couple of books on that subject (or visit Amazon.com - my personal favorite for getting cheaper books). Hope it helps!

Takeaways:

1) Busy = Lazy and avoiding important things you don't want to face

2) Let your desire for a better life drive you to success

3) Start doing something about it TODAY!

P.S.:  I've added the "Insights of the Day" banner on the top of the blog. Click on it and subscribe for a free daily motivational quote. It really helps!

(The awesome picture is created by * Toshio * from Flickr)

#5: The Right Attitude towards Money and How to Get Rich!

(Picture created by "Rob Lee" from Flickr)

Money is not the goal in creating wealth. That's right, as Bob Proctor said, money is NOT the goal. People are actually after the dream and freedom that money could buy, not money itself. After all, money is just an idea. Now, here comes the big question: Is money the root of all evil? Maybe, maybe not. Let's explore a little.

First off, there might be jealousy involved in money matters. People think that the economy is a zero-sum game, meaning if the person next to you is getting richer, you'll be getting poorer somehow. That's not right! At least not in our free market society. We have abundance of opportunities out there for us to obtain wealth, and it's not affected by the amount of money the person next to us has. In fact, we should be just as enthusiastic about the success of others as we are about our own. Jealousy, according to Bob Proctor, is "being afraid of losing something that you do not have". Powerful concept! How can we lose something that we do not have? It shows how ridiculous we are when it comes to dealing with our negative emotions. Next time you feel jealous about someone else's accomplishment, think about the definition and ask yourself this question: How does it affect you in a negative way? 

Another myth about money we should be aware of: getting rich has nothing to do with your education. Right, a formal education will get you somewhere, possibly a great career with fair compensation and great benefits. But there are many school dropouts who became millionaires, or billionaires (Bill Gates comes to mind!); then there are others who are PhD that are broke or struggling financially. What's wrong here? Well, it seems like schools have never taught the students about what is money and how to earn money! Or maybe they can't because they never learnt that either. Whatever it is, I want to share the 6 steps to acquiring riches laid out by Napoleon Hill, after his research on more than 40 millionaires to find out what made them successful. Here you go:

1) Determine the exact amount of money you want

2) Determine what service or product you intend to provide in return for the money (No free lunch!)

3) Determine the exact date you intend to have the money

4) Determine the definite plan for carrying out the desire

5) Write out a clear statement of the first 4 steps, as well as the strategies/plan for achieving it

6) Read the statement aloud, once in the morning after you wake up and once at night before you sleep. As you read, see, feel, and believe that yourself already in possession of the money!

Summary:

1) Money itself is not good nor evil. It's the people that determine if the money will be used for good or evil doings.

2) Jealousy is being afraid of losing something that you do not have. Get rid of that in your life!

3) Carry out the 6 steps to acquiring riches, and believe in them as you do.

I hope you could share some of your insights or experiences into this topic!

#4: How to LOVE your job? Or STOP hating it.

(Picture by "Y" from Flickr)

I was waiting for my friend at Grand Central Terminal yesterday morning and I saw a cop standing guard in the NYPD booth in the building. People kept going to the booth and asking him for directions. That seemed like his only job all day. So, I started wondering if he liked working there at all. Did he hate his job? After all, his work could have been easily replaced by anyone who knew his or her way around the city (it's just like an information booth in Times Square!). 

But, I flipped my thinking and started thinking why he might like his job even though it seemed really boring. I found a few:

1) The intention of his work is the same - serving the public, no matter whether he's nabbing the villains or just guarding the terminal.

2) His presence there probably prevented at least one crime a day, a week, or a year. And it made all the difference because there was at least one less suffering in the world as a direct result of his presence. That's huge!

3) He got paid for it.

I remember watching Zig Ziglar's video lately on "Attitude makes all the difference." He talked about this lady who went to him complaining about how much she hates her job that it was destroying her life. Ziglar told her to take out a sheet of paper to write down "I like my job because..." followed by the reasons. Eventually, she came out with 22 things she liked about her job! 22! That includes getting paid for her work, 3 weeks paid vacation a year, retirement program, insurances, being given opportunities for growth, etc. And she talked about how she much she hated her job in the initial encounter with Ziglar, imagine that. We could definitely do the same if we were in her situation. 

So, do you love or hate your job? Do you wake up every day with enthusiasm knowing you will make a difference in yourself and the world or do you dread going to work every single moment? If you really dislike/hate your job, Zig Ziglar recommended these as well:

1) Look at the mirror and into your eyes (or the windows of the soul, I've always loved this phrase!)

2) Say with enthusiasm, "I love my job because...(followed by the reasons)!"

3) Do it once in the morning after you wake up, and once at night before you go to bed.

You will sleep better, and start your day with more energy than ever before! Hope this helps. In fact, if you have any tips and suggestions regarding this, feel free to drop your comments or send me an email at ksiew0911@gmail.com. 

#3: Be Persistent in Your Life!

(Picture created by alexindigo from Flickr)

1) What keeps you going in life? 

2) What drives you to stand back up after falling?

3) What makes you successful?

Answers:

1) Persistence.

2) Persistence.

3) Persistence.

Yes. You have to be persistent to succeed. You know, Thomas Edison failed more than 10,000 times before he created the light bulb. He persistently ran his experiments after every single "failure" until he succeeded at last! They should not even be considered failures, as he said, "I have not failed, I've just found 10,000 ways that won't work." Powerful, yet simple. Every single experiment brought Edison one step closer to success. After all, he only had to succeed ONCE. Just once. In fact, nobody even cares about how many failures he experienced, we only care about the fact that he invented the light bulb! And we still benefit tremendously from his invention until this very day.

So, the same goes for us. Once we set our mind on achieving something, we should just keep going even though we fail along the way. Every failure is a lesson that would bring us one step closer to success. Lack of persistence is a weakness among people who do not have a definite goal or desire. How can you win if you're not that into winning? 

I think this topic relates personally to my writing this blog. I have to be persistent in updating the blog and finding ways to drive more traffic so that I could reach out to more people about what I've learnt. It's not easy, but I enjoy the learning process. I've learnt so much about the technology and marketing behind blogging through this. More importantly, I've learnt so much more about the values that are really important to be shared among all the readers who take their time to read this blog and have the desire to improve themselves.

So how can we be persistent? Napoleon Hill said in his book, "Think and Grow Rich", there are 4 steps (I've rephrased them):

1) Have a definite purpose backed by burning desire for success

2) Have a definite plan

3) Have a mind closed against all negative influences, including those of family, friends, and acquaintances

4) Have a friendly alliance with others who will encourage one another

I believe No. 3 is worth discussing. It's true that we share our heart with our loved ones, and so naturally we would listen faithfully to what they tell us. And we really should. But sometimes, they might not be encouraging us to do what we really want to do, because they're afraid that we would fall and hurt ourselves - all good intentions. And we love them with all our hearts. 

However, we know better that no man will ever succeed without falling and learning all the painful lessons. As Delatorro McNeal said, "Life is gonna hand you pain...and pain's gonna do 1 or 2 things for you, it's either gonna make you bitter,or it's gonna make you better!" (You should go watch his short video here.) So, if we truly know that's what we want, just close our mind against all negative influences and follow our heart, and live it with the burning desire and passion.

Summary:

1) Be persistent until you succeed, remember Edison's brilliant words!

2) Practice the 4 steps by Napoleon Hill in everything you do. And live with your desire for success!

Stay tuned for the next post. You can subscribe through email or RSS to keep yourself updated! Well, have a fun and safe long weekend people!

#2: Find your Purpose & Passion & the Reason to be Rich

(Picture created by peasap from Flickr)

What were you born here for? If you don't know the answer, you might want to say you were born to be a great swimmer. Why, you ask? Because we're all champions of the swimming competition participated by millions of our brothers and sisters (sperms)! In fact, my high school biology teacher told me that the distance would be equivalent to swimming from the UK to Malaysia (where I was born), which is about 6500 miles! So, champion, what's the purpose that you're doing what you're doing? Do you love what you're doing? Without a clear purpose, you'd be wandering aimlessly in your life, instead of living it to the fullest.

Put it another way, you might even be very successful at what you're doing, but if you're in the wrong direction, you might actually be worse off than you were at the start, because now you're many more steps further from your true destination.

So how do you find your purpose? To me, it comes from developing your passion. When you know what your passion is, you will have a better idea about what exactly what you want to live for. Successful people live with their passion. Delatorro McNeal said it well, "Donald Trump doesn't just like real estate, it's his passion. Tiger Woods doesn't just like golf, it's his passion." So, what is your passion? What would you be willing to do for the rest of your life, with all your heart and soul? Remember this, you've only got one life, one chance. Don't waste it! 

As usual, let's talk about money. I'm not rich yet, far from it. But I learnt this from those who are rich: you gotta have a reason for wanting to get rich. Maybe your dream is to travel all over the world without having to worry about the credit card bills that come haunting you after; maybe your dream is to retire young and unwind at the Hawaiian beach whenever you feel it. Whatever it is, you'd better have a good reason. After all, money is only an idea. It's the dream behind it that matters. 

So now you have reason, what's next? Napoleon Hill said, "Decide on the exact amount of money you want." Because you and I know it well, money is NEVER enough. If you do not set the target amount, you will never be truly rich because you'll be a slave to getting more money! And we want to be the masters of money, not slaves. We want the money to work for us, not the other way round. 

So, are you living with your purpose, passion, and reason? Share your story!

Summary:

1) Find your purpose. Find your passion.

2) Know the reason why you want to get rich. Then decide on the exact amount you want to earn. 

#1: Just Do It & Invest in 401k and IRA!

Alright, the first lesson I learnt: Look at the picture from Nike above! Well, what I really mean is to take action immediately. What have you been postponing lately that you know will make you a better and richer (both in wealth and lifestyle) person? Maybe it's just, calling an old friend, or even taking out the garbage (who likes to do that? I wish I had someone doing that for me really...), or even starting a business that you've always wanted. Anyway, take out a piece of paper and a pen and write them down NOW! Stick it on the wall and get started. Repeat the same once you've accomplished the first just-do-it. If it's something big, it doesn't matter if you know how to do it, just get started by finding out more about it. And know this, "Believing is Seeing" (powerful words from Bob Proctor). 

My first just-do-it was going into personal investment. I knew we should start early to take advantage of the interest compounding effect, but I didn't do it because I always had the excuse of being too busy, too tired, or the most evil of it all, too lazy. Excusitis, as Dr. David J. Schwartz wrote in "The Magic of Thinking Big", always stands in between success and ourselves. So, just do it! And that's why Nike is so successful!

To illustrate what I did, I got started investing in my employer's 401k and also a Roth IRA on the side. In fact, I should've done that earlier when the stocks were really on sales (some time in March 09). But it doesn't matter, as Warren Buffett said, we can never time the bottoms. Just buy a share of business when the price makes sense!

Alright! So you're employed. You have a paycheck coming in monthly or biweekly. If your employer provides 401k program, just participate!

2 reasons: 

1)Some companies match your part of your contributions as soon as you get started, some later. So, how does it work? Let's say your company offers 100% match up to 6%. You make $100,000 a year and contribute $6,000 (6%) each year, your company will match the $6,000, so it's essentially $12,000 that goes into your investment account a year! Free money. Don't waste it!

2) Tax advantages. If you contribute through traditional 401k, the contributions will be pre-tax and the withdrawals will be tax-deferred. If you go through Roth 401k, the contributions will be post-tax (from your after-tax paycheck) but the withdrawals will be tax free! For more info, please visit this URL: http://en.wikipedia.org/wiki/401(k)_IRA_matrix

Anyway, as to the funds that you should invest in, I went for the Target 2050 fund. It's a simple and lazy way to invest your money if you have no idea which to pick. It automatically chooses the appropriate allocation based on your target retirement year. I would go for index funds later on when I get some time to adjust my asset allocation though. My current fund has 90% of stocks and 10% of bonds. And no, I'm not worried a single bit! The current market is just experiencing temporary setback from its glory in the future. You see, even the stock market has setbacks, it's just a part of life, and I have a long time horizon to ride it out. In fact, based on Peter Lynch's book, "Beating the Street", stocks historically return nearly 11% on average (3% from dividends + 8% from prices going up). If you seriously want to learn the art of investing, read that book (even Robert Kiyosaki, famous for his "Rich Dad, Poor Dad" series, recommends it). So, don't worry, be happy!

Okay, your company doesn't have a 401k program? Don't worry, just set up a Roth IRA (It has a limit of $5,000 annual contribution). You can do this practically from any brokerage investment accounts. Ramit Sethi, founder and writer of http://www.iwillteachyoutoberich.com/ recommends the following 3:

1) Vanguard (http://www.vanguard.com/)

2) T. Rowe Price (http://www.troweprice.com/)

3) Schwab (https://www.schwab.com/public/schwab/home/welcomep.html)

Vanguard seems to have funds with the lowest expense ratio (% they charge for managing your fund), but it requires minimum $3,000 to open. If you want to start small, go for T. Rowe Price or Schwab ($50 and $100 automatic monthly contribution, respectively). 

Now that you've set up your 401k and IRA, you don't even have to think about them any more for a long time, because everything is done automatically. According to Peter Lynch though, you might want to invest more in the stock market when there's like a 10% dip in the market, and in the long run you will be way better off than those who sold their investment out of fear. By the way, you might want to set up separate investment accounts to do that, since the IRA has limited annual contribution and 401k has to wait until your payroll deduction to take effect (and you have to change the contribution %, etc, which takes time).

Summary:

1) Take action immediately - write it down and do it now.

2) Invest in 401k and IRA - easy and automatic once you set it up!

I look forward to reading your comments, suggestions, and experiences!

Purpose of Thinking Big (and Why Think about Money!)

Hi, My name is Ken, creator of this blog, "Think Big & Think Money!". Feel free to read about my background in the profile. I will provide a summary at the end of this post that lists the takeaways, and I will do the same for every post in the future. (I think the picture fits exactly what my blog is all about, credit goes to "rossgram" from Flickr.)

Let's get started! 

So, Why Think Big?  Because you're really bigger and better than you think! Why would you rather stay little and powerless when you know that you can do better than this and live the lifestyle you've always wanted to live and do the things you've always wanted to do? I know this well, as I talk to my friends and family, and as people grow, they realize that they need to do something more meaningful than what they're doing now. They want to start a business, get a beautiful girlfriend, get a new job that they like, etc. But they never got started because they didn't think they could! Unfortunate, but true, and it's happening everywhere -- the person sitting next to you, your neighbor, and maybe yourself...

And you know what, all the successful and rich people in this world have essentially disagreed everything under the sun, except this -- you become what you think about. It's simple truth, and I learnt that through a "Six Minutes to Success" program by Bob Proctor, a great motivational teacher, author, entrepreneur. {Feel free to sign up through me by clicking on the banner on this blog, it has a 7-day trial and I totally won't even bother cancelling it!}

Come, let us explore this secret of success together, and if we hit bumps along the way, we can always stand back up and do it again. As no successful person in this world has never failed along his or her way to finding the gold mine of success, I don't foresee myself, or yourself, to succeed in everything without setbacks, or failures. It's part of life and as long as we learn from them and be courageous enough to continue the journey, obstacles will only be things we see we take our eyes off the goal, as Zig Ziglar put it perfectly.

You might wonder, "Okay, thinking big makes sense now, but what about think money?!". Alright, this is both a personal investment and a motivational blog. I believe they go hand in hand, because I'm not just going to write about the ways to invest our money in stocks and mutual funds, but also ways to live free from the boundaries of paychecks. I'm only writing based on the teachings of the books I read, and most of the authors, if not all, are very successful people who have learnt the art of life. I'm simply sharing the ideas in this blog so that we can all benefit from them. Not everybody enjoys reading non-fiction bestsellers, although I do, so a great summary would be good enough so that you will have time to proceed through your life as usual, and drop by to check out what's new and how you might best use and apply in your daily lives.

Summary:

1) Think Big! Because you become what you think about.

2) You might fail before you succeed. Just believe in yourself, stand back up, learn from the failures, and charge again!

3) I will summarize the main ideas from the great books that I read, and come up with suggestions so you could use them immediately!

I look forward to reading your thoughts, comments, or experiences!