Making Money From Investments Through The Kampung Way - Kampung Investor Dot Com

I was browsing some financial websites and then i found Money Magnet own by yan from Kuching. Yan shared a post on Inside the mind of Singapore’s Youngest MIllionaire - By Adam Khoo and hell yeah, the post was very inspiring for those of you that really aspire to be a young millionaire like Adam Khoo.

Here are some of the reasons why the Adam Khoo’s post really inpire and i respect him for that :-

Millionaires are frugal

Adam Khoo travels on economy class although he spends most of his time travelling around the region to conduct seminars at his offices in Malaysia, Indonesia, Thailand and Suzhou (China).

Adam was asked on a plane by an unknown ‘How come a millionaire like you is travelling economy?’ Adam Khoo’s replay was, ‘That’s why i am a millionaire’

Most people are easily influenced by the general public that millionaires have to wear Gucci, Hugo Boss, Rolex, and sit in first class in air travel. That’s the main reason why many people never become rich because the money they earned will be used to spend and they spend more when they make more putting them back to square one.

Adam used to spend 20% of his income and saved 80% while now he saves 60% and spends 40% because he has a wife, mother inlaw, 2 maids, 2 kids, etc to support.

Even a millionaire like Adam Khoo refuses to spend $300 on a shirt because he thinks it’s a complete waste of money.

I respect Adam the most as he does not spend unecessarily. Everybody can be a millionaire if he or she spends wisely. Do not take for granted the money you earned as it’s your own sweat and blood is how you are earning it.

Millionaires do not show off

Adam was part of YEO (Young Entrepreneur’s Organization) a few years back. It is a club open to those who are under 40 and make over $1m a year in their own business.

Adam found out that self made millionaires with net worth’s well over $5m, traveled economy class and some even drove Toyotas and Nissans (not Audis, Mercs, BMWs).

Audis is still a car and Mercs is also a car. This shows that millionaires that made their money the hard way will not need to show off that they can drive bigger car then others.

Value money

Those that never worked hard to build wealth are those who will spend like no tomorrow. When you have nothing and you build from scratch, will know how to value money. This is why family’s wealth will not last past the third generation.

An advice for rich parents, do not pamper your children with a rush of gold as they will never appreciate those gold. Teach them the hard way just like how Adam Khoo’s dad did. Adam’s dad didn’t help him with a single cent in starting his business and he is what he is today! (Adam has a rich dad!)

A big NO if material things can make you happy

Making so much money and not enjoying it, is what some people asked Adam. If material can make one happy, it will not last long, it is only a quick fix to problems. It is like when having a headache, you eat Panadol without further thinking much where the problem might be from your other parts of the body.

You will feel lousy again and have to buy the next thing that will make you happy. Adam personally thinkgs that if you need material things to make you happy, then you live a pretty sad and unfulfilled life.

Material happiness is impermanent. Do not crave for material happiness as it will lead to a very unhappy and unpleasant life.

Millionaire’s happiness

By touching other people’s life and doing life’s work (be in teaching, building homes, designing, trading, winning tournaments etc.) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a meaningless life.

In short, do what you like to do and never take money as the motivation of your work. When you are doing something you like money will come in naturally. That’s the best happiness one can get in the lives instead of money and more money!

Conclusion

I was really impressed and amazed with Adam Khoo’s insight about himself which really open up my mind on how to lead a good and meaningful life. Although i am not yet a millionaire, but i really aspire to be one just like Adam Khoo. Living a humble and meaningful life.

Showing off and being arrogant is not a way of a millionaire. Being humble and helping others is the way to show a good quality of a millionaire. I hope this post will help to open some eyes where it has already opened mine!

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