Come on a journey with me to achieve a positive mindset and going on a path to financial freedom! Share with me your experiences too!
In this blog, I will go on to show you tips and simple steps to help you feel good and positive about yourself and take charge of your life, as well as show you how one can improve your finances and ways to get out of the rat race.
I hope to help more people see life with more optimism, and be inspired to work towards becoming financially free and happy!
By the way, the FWD maid Insurance is one of the lowest priced & has the best value in the market!
Buy your FWD Insurance such as your maid, travel, motorcycle, car, home, personal accident, health or term life insurances through my link and get even more discounts!
“We buy things we don't need with money we don't have to impress people we don't like.
― Dave Ramsey
It really makes you put back your focus on what you really want in life. Whether it is financial freedom, early retirement or having great relationships with your family and friends. There is no need to impress people. Just be focused on your goals and add value to others. :)
This is an awesome Must-Read article for couples (just attached or married for years). We want our passive income to last us forever, as much as we want our marriage to. Check out the article! Cheers! 👍
If wealth and happiness are what you desire, follow the below steps that ouline Kenneth's noble and encouraging philosophy of financial success.
1) Develop A Mindset of Accumulation
Some people attain their wealth while displaying poor character traits, such as selfishness, which has lead to the widely held belief that a person must be self-serving -- and perhaps aggressive -- to become affluent. But there are wealthy people who give to and care about others, and selfishness is not inextricably linked to affluence.
Kenneth believes that what truly helps a person become wealthy is a mindset of accumulation. The mindset of accumulation acts as an engine that propels a person forward in his or her quest for financial success. It is a foundational principle for a person who wants to become wealthy. Without it, a person's assets will either stagnate or even begin to dwindle.
The good news is that the desire for more does not need to cancel out the desire to help people or to be fair: You can give back to your community and be a kind, caring person as you accumulate your wealth. In fact, as your mindset of accumulation helps you become more successful, your ability to help those in need will increase, too.
2) Use The Word "WANT", Not "Need"
As humans, we have an uncanny ability to ignore our needs, but our desires and wants can spur us into action with great speed.
For example, think about how often a person might postpone a task at work that should be completed as soon as possible. Or think about how easy it is to become sleep-deprived by ignoring the body's need for sleep.
On the other hand, when a person wants something, there's action. A desire could be something that requires work, like starting a business or losing ten pounds. It could also be something pleasurable, like going on vacation or out to dinner with your partner.
The point is: If you need to do something, you might do it. If you want to do something, chances are you will do it. To maintain a mentality of building up wealth, then, it is important to want to accumulate wealth.
This linguistic technicality means that a mindset of accumulation must operate on the fuel of "wants." Instead of saying "I need to earn more," we should say, "I want to earn more," because it is the urgency of wanting that keeps our mindset of accumulation running on all cylinders.
3) Know How To Accumulate Money
On the road to wealth, wanting is important -- but it's not enough. A person must first want to earn more and then also know how to earn money.
Knowing how to accumulate money is one of the most difficult challenges, because each person's approach to earning is as unique as his or her own combination of personality, creativity, passions and skills.
To start, use your imagination and ask yourself: What creative business strategies can I develop to earn money? Or, what employment can I seek to help me earn?
4) Know How To Retain Money
There are people who were once rich but became poor because of their lack of ability to retain their wealth. This means that once you've managed to accumulate earnings, you need to be able to keep -- and ideally grow -- your money. You'll need to ask yourself: How can I manage my wealth in the smartest way? What can I do to reinvest my earnings and increase my money?
5) Acquire Knowledge And Resources
People who become wealthy may or may not complete a formal higher education, but they often enhance their skill sets through study.
Acquiring knowledge is another type of accumulation mindset.
Knowledge could mean learning how to manage resources, such as time and money -- or anything you can use to advance or to make accomplishments.
Pursuing specific knowledge can translate into great learning potential, and knowing how to use resources is very significant in building wealth.
6) Plan For The Future
The mindset of accumulation is focused on actionable, forward-thinking. If you want to be wealthy, you need to plan ahead and look forward toward the future.
While the past is useful because we can look back on our mistakes, it's crucial not to get caught up in what you "could have" or "should have" done. Instead, take the lessons you've learned with you, and implement what you've learned into your plans for the future.
To get where you want to go, you will need to glance at the rearview mirror every now and then. Just remember to concentrate on the road ahead, first and foremost.
7) Be Logical
To grow your wealth, you will need to think logically and rationally. Kenneth says there's no "hocus-pocus" in earning money, but rather a "purposeful understanding and desire" to reach a certain level that is promoted with rational thought. Put simply, this means that superstitions should be set aside. Choose to rely on clear-headed thinking to make decisions as you strive toward meeting your desires.
8) Be Efficient
You might say that, in some ways, the smartest rich people are "lazy". What does this mean? It means that these smart people find productive ways of getting things done. So, if they don't have to do something themselves, they will use shortcuts, formulas, strategies and delegation -- all of which are methods of productivity.
Figure out which tasks you can outsource to maximize your time and ability to accumulate your wealth, and remember that the road to wealth isn't just about working hard. It's about being efficient.
Credits:
The article is obtained from Kenneth Kam's Kenn Magazine by Kenn Organisation.
The steps image is obtained from spotmold.com .
The purse image is obtained from Colourbox.com .
For The Budget, Thrifty and maybe Kiasu Moms/Mothers in Singapore! Get Your Free Essential Baby Stuff and Samples NOW!
Hi Everyone,
It has been an amazing and interesting journey over the past one year, where I got married, delivered a baby girl and staying happily under one roof in a 4-room HDB flat. Life takes a new turn, from being single for pretty long, to now becoming a mother. Oh gosh! What a big change! And now I'm also on a hunt for baby freebies in S'pore like many other typical mums I guess!😀
So, here's the deal! I have done some research, registered for some baby samples, received them and below are some of the deals that were found. By the way, baby formula milk given out free will only be for infants 6 months old and above.
"Today, the Sale of Infant Foods Ethics Committee, Singapore (SIFECS)Code of Ethics covers the ethical aspects of marketing and promotion of breast milk substitutes and already restricts advertising, marketing and promotion of infant formula for infants below six months in Singapore. SIFECS will, in the third quarter of 2017, extend the coverage of the Code to all infant formula for infants up to 12 months of age. It is also reviewing its Code in line with international best practices."
So because of these crazy sky-high formula milk prices that increased over the years, our government has sprung into action and by the end of 2017, you probably be getting lesser free formula milk. What the heck, quickly sign up for your free gifts now!
But if your little one is still below 6 mths old or still in your tummy, you could still apply for and get some free stuff! Start by getting some maternal supplements for yourself! Some websites require you to create your userID and password, which I indicated below. But most sites usually don't require log-in. Check it out now!
Find The Most Complete List of Free Baby Sample Freebies in SG Here! Totally Free Baby Stuff!
Free Nutritional Maternal Supplements for Pregnant, Expecting or Breastfeeding Mothers!
- Friso - http://shop.friso.com.sg/english/sampleproduct/sampleproduct/view . There is the Frisomum. - Dumex - http://www.dumex.com.sg/ . Get your Free sample Mamil Mama. You gotta register for your login name and password. - S-26, under Wyeth Nutrition - https://www.wyethnutrition.com.sg/en/free-samples . There are the S-26 MAMA and Enercal Plus. - Similac, Abbott - http://abbottfamily.com.sg/campaigns/free-samples . There is the Similac Mum. - Anmum - https://www.anmum.com/sg/en/contactus/sample-request.html . They have Lacta (for nursing moms) and Materna (for pregnant or women planning for pregnancy). - New!Little Treasure Infant Formula (Made in Australia) - https://littletreasure.com.sg/
.You can get free samples for pregnancy stage and there is even milk sample for the adults and elderly called Seniors Formula, that are rich in proteins, calcium with multivitamins and mineral nutrients. However, there is a one-time flat
delivery charge/fee of $10 per trip. So get all the samples at one go and pay the
flat fee only once. Sorry they replied me that they no longer offer milk samples anymore. But you can still check out the Pregnancy and Seniors Formula Milk. - Nestle - https://www.starthealthy.nestle.com.sg/ . You can register for the Nestle Baby Club membership here. Sign up to enjoy member benefits worth $388 of giveaways. For new moms, they will give you a New Mommy Bag, with MOM & me sample pack inside, together with other goodies (worth $250). When the baby is 6 to 7 months old, you will receive a Weaning Bag (worth $88) of goodies. Moreover, you will receive $50 product vouchers in your monthly e-mailers or goodie bags.
Free Baby Formula Milk Samples (usually it will be for infants 6 months old and above)
- Friso- http://shop.friso.com.sg/english/sampleproduct/sampleproduct/view . There is the Frisolac Gold Stage 2 (after 6 mths), Stage 3 (1 yr onwards), Stage 4 (3 yrs onwards), Milk Cereal (for 6 mths onwards to help baby start on solid food). - Dumex - http://www.dumex.com.sg/requestsample. In their Mamil Gold Series, they have 3 types of Step 2 Formula (6mths and up), and 1 type of Step 3 Formula (for age 1 to 3 years). - S-26, under Wyeth Nutrition - https://www.wyethnutrition.com.sg/en/free-samples . There are the Promil Gold (6 mths to 1 year), Progress Gold (for 1 to 3 yrs), Promise Gold (for 3 years of age and above), Picky Eater Gold (for picky eateres aged 1 to 12 yrs old). - Similac, Isomil, Grow Abbott - http://abbottfamily.com.sg/campaigns/free-samples . There are 11 types of formula milk for babies and kids ranging from 6 months all the way up to 12 years old. Too many to list each one of them here. Grow Stage 2 and Stage 3 Sample direct link https://abbottfamily.com.sg/campaigns/05711ACD-0262-438A-AA0C-D98684989D84 - NAN, Nestle - https://www.starthealthy.nestle.com.sg/samples . You can get the free samples of NAN OPTIPRO GRO 3 and H.A. 3 (for 1 year and up), and Cerelac infant cereals (for 6 months to 1 year). - Aptamil, AptaAdvantage - http://www.aptaadvantage.com.sg/register . You will get a free Discovery pack 900g sample of Aptamil products (for children 6 months to 6 years old). - Karihome Goat's Milk Formula - http://karihome.com.sg/req-sample.html . You can get the Follow-on formula (7 - 12 mths) and Growing Up formula (1 - 3 years). - Enfamil/Enfagrow, Mead Johnson - http://www.enfagrow.com.sg/register/sample . Register when you are pregnant or your kid is 6 months and above. - New! Einmilk - http://www.einmilk.com/sample.php . You can get Einmilk Stage 2 and Stage 3. - New! Little Treasure Infant Formula (Made in Australia) - https://littletreasure.com.sg/ .You can get free samples for Stage 2, 3 and 4. But there is a flat delivery charge/fee of $10. So get all the samples at one go and pay the flat fee only once.Sorry they replied me that they no longer offer milk samples anymore. But you could still go check out the Australia Milk from Stage 1 to Stage 4.
- Cradle of Love Goodie Bag - https://www.cradleoflove.sg/ ; https://www.facebook.com/cradleoflovesg . It is supported by Great Eastern, so an insurance agent will call you to deliver the goodie bag to you. - NTUC FairPrice FairMily Kit (worth up to $100) - http://www.ntucgoodstart.sg . It is for families with Singapore citizen babies born between 1st January 2016 to 31st December 2019. You can register as soon as you have your baby, but for parents with children under the age of six months old, do note that the redemption card will be sent to you only after your child is six months' old. You also get a complimentary one-year Health Insurance Coverage for your baby from NTUC Income. If you have requested to be contacted by Income, an Income adviser will be in touch within the next two weeks to help you register your baby for Standard or Enhanced IncomeShield. - Nestle Baby Club Membership (worth $388) - https://www.starthealthy.nestle.com.sg/ . I mentioned about it earlier in this post. Details above. - Abbott Family (worth up to $400) - http://abbottfamily.com.sg/campaigns/join-abbott-family .
By the way, if you happen to find out about more freebies, do let me know. You can comment here too. I will input it in the post, so that more people can benefit from it! Cheers!😍💗
For the Average Singapore Investor: What should the Size of your Wealth/Retirement Fund be? What is the Rate of Return from your Wealth Machines? Find Out how you can mathematically calculate your sums.
This concept was taken from either a book or a website, but unable to credit the exact source to due to unable to recall as it was quite a while back.
I will put it in a Singapore context/ SG context for more relevant understanding.
As an average investor, do we know how much a retirement sum is sufficient for us to go to retire comfortably through our golden years? Some of us may not be too sure, or may not have a valid retirement figure/sum to stand by. Below is a guideline to help you to figure out how much you need to have before you can probably call it quits at your miserable work and have the cashflow to do things/work that is much more meaningful to you.
Eventually, at the end of this article, we will finally understand how much money is required in our Wealth Fund in order to achieve our Financial Independence (FI) through simple mathematical calculation in 2 steps.
The Size of Your Wealth Fund depends on a few factors:
- Your Annual Expenses
- Your Wealth Machine Rate of Return (ROR)
- Inflation Rate, e.g. 3%
Wealth Machines could come in the form of:
- Fixed Deposit accounts
- Trading accounts
- Savings/ Endowments
- Properties
- Businesses
- Royalty
Step 1: Let's say that your retirement lifestyle requires $6,000 per month.
Therefore in one year, you will need $6,000 x 12 months = $72,000 per year.
Wealth Fund required in FI (to fund a $6k/mth lifestyle)
= Total amount required per year divided by Rate of Return to generate cash flow in FI
Wealth Fund required in FI (to fund a $6k/mth lifestyle)
= $72,000/4%p.a.
= $1,800,000
Step 2:Rate of Return (ROR) of the Wealth Machine
= ROR to generate cashflow in FI + ROR to keep up with inflation
= 4% + 3%
= 7% p.a.
A rough guideline would be, for every $1,000/month in returns/payout, you will need about $300,000 of assets in your investments to support that monthly income.
Your assets should not exceed 15% in high volatility instruments, e.g. stocks.
The unpredictability of inflation ==> One can't really predict inflation as it is somewhat a function of the political climate. That is why the most appropriate instrument are those that does better in an inflationary scenario, such as TIPS in the US, which are inflation indexed bonds that track the level of inflation, and in Singapore context, it could be CPF, value of properties which moves with the inflation rate.
One word of caution: It is not about randomly finding any financial instruments and randomly investing. No it doesn't work that way. One needs to be careful with their investments and invest wisely. Be careful of mutual funds/hedge funds etc that charges high commissions and fees, which could eat into your capital and cause you to have losses instead of gains.
Investing the Right Way: Investing and choosing in the right stocks or right properties could further expedite your process in reaching your Financial Independence or Financial Freedom.
If you are keen to know how to invest well in stocks and REITs, you might be interested to attend this free investing workshop http://bit.ly/1TCWyqg .
If you have signed up for the workshop, do drop me a comment or message here, so that I can followup with you to ensure that your investments produce results. All the best in your investing journey! Cheers!
