Friday, June 20, 2008
Thursday, June 19, 2008
Money is one of the most important subjects of your entire life. Some of life's greatest enjoyments and most of life's greatest disappointments stem from your decisions about money. Whether you experience great peace of mind or constant anxiety will depend on getting your finances under control.
-Robert G. Allen-
The moral of the excerpt above is Manage Your Money Well!!
Wednesday, June 18, 2008
Sunday, June 15, 2008
"Is it the right time to invest with the current volatile and uncertain market condition?" A very frequent question whenever I meet a new prospect. Worries clearly reflected in their eyes.
Being an investor myself, I knew the feelings......."Oh my God, market down again! Die lah, I am making losses now! When will the market improve? Ahhhhh!!!"
It is normal to feel as you do, as we are humans, an emotional one too. Therefore, your decisions to invest or not is also emotionally influenced. Agree? So, isn't it better to leave your investment matter to a third party ie fund manager to manage your investment instead? The investment vehicle that I am referring to is unit trust.
So back to the earlier question, should we invest in the current market?
I am of the opinion that it depends on the individual itself. If the investor has intention to invest for a period less than 3 years, then no. This is because no one knows how long it would take for the market to bounce back. Moreover, investing with such a short frame of time disallow any fund managers to do their work effectively thus posing higher risks to the investors themselves. On the other hand, investors that are coming in for long term is however encouraged to pick up the funds that are currently at huge discount. The current market situation is considered an extended MEGA SALES period for long term investors. Pick them up before the sales is over!
Another word of advice, do regular savings instead of a one time off investment. It is one of the ways to mitigate the risks of uncertainties and volatilities. The benefit is that when the fund's price is high, the units purchased would be lesser, however, when the price is low, at the same investment amount, the number of units purchased would be more. In the long term, the average cost per unit of the investment would be lesser than its current market price thus the investor would have made some profits already.
Another factor every individual should be aware in deciding whether they should start investing their hard earned money is whether they are willing to face the risks of inflation which is undermining the purchasing power of their cash.
A research was done by The Star newspaper last year stating that our money's purchasing power diminishes amidst rising inflation. It gave an illustration that the cost of 3 meals NOW costs us about $20-00 (minimally) and in 20 years time, with the assumption that the inflation rate is only 6% , the same meal would costs us a whopping $64! It goes further to illustrate that those who have $500,000 NOW has a purchasing value of only $145,000 in 20 years' time!
So tell me, could you afford not to invest or you would prefer to procrasinate? And miss the discount?!
Yesterday, was a fruitful day for me....one, I've learnt a new skill which will be my other source of income and two, I believed I had touched a number of people's lives through sharing a subject which I've recently learnt from T Harv Eker, on the Power of Belief, from The Millionaire Mind Intensive seminar, held recently in Kuala Lumpur. Harv is a very generous speaker and trainer as the value we derived was much greater than what we had paid for! He has also produced a best selling book of the same title. Would strongly recommend you GET one! I've never read any books like his and am re-reading it hungrily! I am always excited whenever I shared with anyone on Harv's teachings! And am also recommending my business associates and customers to attend his upcoming seminar in Singapore in November 08! Check this link http://www.millionairemind.com
As I was preparing and sharing the subject of Power of Belief with my business associates, I began to understand deeply why there is such a disparity between the rich and the poor people. Harv has pointed out that it's all because of our past programming in relation to money, work, success, etc whilst we were growing up. Thanks to our family and society who have had meant well.......Whatever we believe or others believe of themselves or of other people, those are only OPINION! Belief is just an Opinion. Influenced by our past programming. There is no right or wrong, true or false opinion but any beliefs could empower or disempowers any person to act or otherwise. If that is the case, why not have a GOOD BELIEF of yourself to empower you to do something GREAT! Have a good belief in others too so that they could do something good to bring goodness to themselves and others too!
Wealth is a Result, Health is a Result, who YOU are is also a RESULT. If you don't like the results you see in your life, you need to identify the cause (your previous programming) and change it! We can't change our current results, but we sure CAN CHANGE our FUTURE RESULTS. Agree? To do that, change your existing mind program (your beliefs) and replace them with positive program (sorry, you can't change your hardware (your head) but you sure could change your software!). Do a daily positive affirmation of yourself and see yourself transformed! I Deserved to be Rich as I Add Value to Other People's Lives! Cheers!