Many people are looking for ways to succeed in life. They tried doing everything possible, such as MLM, investments, blogging, property agents, etc … However, 1-2 years later, they realized that they are not moving forward. So these people feel that they are not in the right field, and change to do other things. They keep on trying and changing jobs for most of their lives, and when they look back, they all realized one important point they’ve missed out, however their time had run out.
So before you run out of time, the most important thing to really succeed in life is to – learn. All successful people learn every day, from people who had done, or succeed before you. Many people stop learning after they’ve graduated. When they start working, they complain about not having promotion, or high increment. The problem is, they do not have the skills or experience to help the company. These people could have 1-2 years of “learning” experiences when they initially joined the company and kept doing the same thing for the next 10-20 years. They do not keep up with technology or changes. Soon these people will be obsolete from the world.
So how do you keep improving yourself? You have to look for people who had succeeded before you, and suck all the knowledge out of them. This is the fastest way to learn and improve yourself. Think about it, people say it’s ok to make mistakes, as long as you learn from your mistakes, but how many mistakes can you really make? Why not you learn from other people’s mistakes? Isn’t that better? Let people do all the hard work, all you have to do is to go through all the experiences and pick up as much as you can.
So where and how do you find these people? At two places, online and library. I read a lot every day, in fact non-stop reading and absorbing information, be it work related, financial shares and trading, technology, internet marketing, I’m getting all these information. I’ll like to occupy all my time with real time information, to keep up with the world. I’ll feel lost without getting up-to-date information.
How I get started?
I hated books when I was young. Often I would lie to my mum about going library to borrow books, and made use of the time to play with my friends. The borrowed books would sit at one corner till my friends asked me out again. I would use the same excuse over and over again to go out. Borrowing and returning books became my part time job.
The only time when I really find interest in reading was when I started working. My first full time job was in a semiconductor company. It was a huge MNC, making up of smart, talented people. All of them were very successful, driving sports cars, making big money. Just like any other young people, I wanted to succeed in life fast and started finding ways to make money.
I worked really hard at that time, and the best (or worst) thing about that company was overtime. Everyone basically could work 72 hours of overtime per month, which really change the first digit of my income. Needless to say, I was working like a slave, 72 extra hours added to my usual working hours. I hardly had any more time for my family and myself.
After about a year or so, I felt that something wasn’t right. I could not keep working overtime to get this income. It was too hectic and I did not have any time for myself. Months after months, I would just be working for money, hardly had any life. I need to get a life. I needed an escape!
I heard many good recommendations about a book called “Rich Dad Poor Dad” by Robert Kiyosaki. I started looking for it and lucky enough, one of my friends lent it to me. (I was so stingy that I wouldn’t want to spend money buying books) I flipped through a few pages and god, the content was interesting. I’ve never read a book that interesting before. It is a financial book (supposed to be boring), but it is written in such a way I’m like reading a story book. Robert is telling about his real life story.
Rich Dad Poor Dad, how it open my eyes?
Robert’s life about financial education is quite related to Singaporean lives. Why? Because we are a bunch of super hardworking and intelligent people. Unfortunately, most of the people are working for others, including myself.
Our school system taught us to study hard, get a good certificate and find a high pay job. After that just keep working hard and increase your pay slowly every year. Nothing’s wrong with this model. But he highlighted something quite meaningful. We are WORKING for our money, but Robert’s philosophy is to have money to work for you. In other words, he truly opened my eyes to PASSIVE INCOME.
This powerful words have been in my mind ever since. This is what all of us want for life. We studied so hard for this … passive income.
What is Passive Income?
So what is passive income, and why It’s so beautiful? Passive income is short, means that you need not work, and money will come. Is it possible? Yes, in fact, most or all of the people are already earning some forms of passive income. One good (or bad) example is by putting money in a bank. Since young, we are taught to save money in our bank such as POSB. While putting in our money, we are given a small sum of money, called interest. This interest is paid to us yearly, with the annual rate of 0.1%. If we put in $10,000, our returns will be like $10.
I know it’s miserable, but still it’s passive income! Do you have to work to earn it? No! All you need is to put money into your bank and collect your interest. Imagine you have 10 million inside your bank, you’ll be collecting $10,000 every year! But if you have 10 million dollars, you won’t be reading my blog already.
Anyway what emphasizing is the way we get our income. We want money, and freedom ideally. We do not want to exchange our time for money. We can’t buy back time, and we can’t work when we are 60s, or 70s. Usually by that age, our income will drop significantly. Therefore it’s wiser to start planning about how to make passive income asap.
What I Do After That?
So after reading Rich Dad Poor Dad, I stopped doing overtime. I realized that I do not have enough time. I need to start building my tree – my money tree. If I start planting the seeds today, I’ll have the fruits tomorrow. The later I start, the later the fruits will be bear.
Needless to say, I started my first business. In fact, at a point of time, I concurrently worked and ran 3 businesses. I was so pumped up that I worked day and night. I’ll go into that more in the future posts. All these times, I never stop doing something, that is to read. There’s a saying “Leaders are readers and readers are leaders.” It really makes sense. I read tons and tons of books, one book after another.
Through these motivation and financial books, I gain knowledge and skills that surpass my peers, and leapfrog them years ahead. I read about people’s success stories, and their failures. I learned their mistakes and not to commit these mistakes myself. I make my decisions carefully and always layout my plans in my mind before taking any actions.
So, if you really want to succeed in life fast, read. You’ll never go wrong. Want to know what books I’ve read? Follow me on Twitter. I’ll post each and every book I’ve read. So are you a reader too? Care to share with me what books you are reading now in the comments below?
PS: If you are serious about reading, I suggest you get a kindle. This is the best reading device ever make in mankind history.