Assuming you have already set aside 10% of your income for the future,10% for “play”, what is next? Well, how about setting aside 5-10% for your Education? Yes, this is for your life long learning. Whether it is a structured learning like attending a short course or seminar or an unstructured learning experience like buying some self help enrichment books, cds, videos, dvds, it does not matters . Just do something!“Five years from now you will be the same person you are today except for the books you read and the people you meet.” Getting educated is the key to prosperity. Learn about the investment world. Become familiar with a variety of different investment vehicles and financial instruments, such as real estates stock, bonds, share market, unit trust, and currency exchange. Understand about risk, and why risks need to be mitigated. Then choose one primary area in which to become an expert. Begin investing in that area in which you become expert. Do your homework and have a thorough think through process before making investment decision. It comes down to this; poor people work hard and spend all their money, which results in their having to work hard forever.
Rich people work hard, save, and then invest in themselves. They also put their money in investment so they never have to work hard again when the time comes.
Don’t underestimate the power of influence. 50% of our thoughts are influence by people around us. Try mixing with a group of negative people for a month and see what would happen to you? Without the slightest doubt, you will be exactly like them. Be careful whom you spend your time with. Mix with the right group of people. Look for people who want to be successful. These peoples see obstacles as opportunities. They rarely complaint and they believe nothing venture nothing gains. Their fighting spirit are strong and they are always very enthusiastic about what they are going to do and they set a deadline and get it done.
Your “Education” account is primarily used to nurture yourself – to continue educating yourself through seminars, short courses, reading materials, audio and video tapes. Get a coach or a mentor. Learn from people who are more successful than you. Stay miles away from people who can’t add value to you.
Action Plan # 1
Get educated. Take investment seminars. Read at least one financial book a month. Read magazines such as Money, Forbes, The Edges, and the Wall street Journal. Next, stay away with negative people who are always wincing and complaining. Mix with positive a minded person who embraces all problems and tackle it like challenges. Socialize with nice people, and leave those who don’t have such criteria behind.
Client :Springfield consultancy SDN. BHD.
Illustration of Springfield Newsletter 2008/ Issue 19
