Hello friend,
I will reveal a concept of wealth that many peopledo not know, and this causes them to bite the fingerhaving worked hard for decades but not toowealthy.
Why?
When get paid beginning of each month (regardless of whetherRM500 or RM10, 000 per month), usually, the first thingwe will do is give our salary to the bank(Installment cars, homes and credit cards). We kindand give our salary to TNB, Astro, SAJ. Oh yes, noleast, we give our salaries to make Tesco, Giantand mamak restaurant richer.
The problem many people FORGET to give salaries to themselvesthemselves first. The result after servingfor 30-40 years, there is nothing to be proud ofexcept cars and houses and money still owedpension is only enough to eat.
So the secret of wealth # 8: You must pay at least10-30% to yourself first, thengive to others. Make automatically,through salary deduction and save in ASB, ASW or fundsother trusts.
You may not believe in it the secret of wealth # 8,see what happened to the uncle of Y generate RM700, 000,where I read his story in a recent blog:
True story though, Y --- ---
Uncle 80'an married early. For 10 years,uncles and aunties berjimat2 Surely carefully. Uncle storefrom RM1K, aunt of RM500 per month in the ASB / ASB,then add sikit2 when there is no bermewah-class promotion.
10 months a year we save, supermarkets and December monthsWe do not save. Uncle bought the first keto second modelhand only, left turn rental house for 7 years.
We do not wear the maid. My shoping night market only.
In the early 90s thanks to the thrift and savingthe ASN / ASB - money collected, including dividends in the ASBuncle & aunt themselves to achieve RM200, 000 + and RM100, 000 +[Amount exceeding RM300, 000].
After the uncles and aunties tu jer sikit2 store and enjoyreturns. The results of the returns we havepaid all debts, including housing debt aunt. Aunthas stopped working in 1997 as investment returns'Adequate' to supply old. Though, still working and nowthink to take the retirement option.
On Oct. 2, January 2009 baru2 ni uncle and aunt, respectivelya return of RM34, 000 + and RM16, 000 + [if mixed numbersaround RM50, 000] from the ASB.
Now the number of ASB uncle = RM480, 000.00 +, and aunt RM220, 000.00 +[Total of RM700, 000.00 +] and managed to collect about RM50, 000.00year ...
Now the uncle is timbang2 to retire early because of the return ASBplus the pension is expected to exceed annual expenditure -can store or my holiday abroad gi. Though, will onlyremove dividends each year, the principal of the ASB letthere as an inheritance to Anak2.
Moral: Save and menabunglah as possible to ten yearsThe first, a bright future God willing.
When buying a car, be sure the price does not exceed 18 monthsincome, seelok2nya 12bulan only.
When buying a house, not to exceed 50 months earnings.
yours respectfully
- Uncle Y