Another Beginning of the Whiteaura

If I were to earn $3000 a month as an employee, how long would I need to become a millionaire? Taking into account of increment of 5% a year, and saving EVERYTHING that I earn, I would need about 18 years to save up my 1st million.

However, to save everything is impossible as we need to eat and travel. Let's say that we spend about half of the money we earn on expenditure like food, entertainment, transport, insurance, household, handphone etc, we need abt 36 years to save up 1 million dollars. And plus the inflation, it may take longer than that.

And with an economy these days, workers get retrenched very easily. They're constantly at the chopping board of the company, waiting in queue to get laid off.

I dun wan to be an average person who takes an average pay and still need to put up with the bosses. I dun see that it's fair if I work so hard for the company and get laid off at the end of the day, on pretext of recession or the company is not doing well. Everytime a company lay off workers or downsize, it is actually at an advantage to the company but a disadvantage to the employees. I heard my dad saying that the directors are getting more bonus and the staff aren't getting any on pretext that the company is not earning. The world is never fair. The average is always at the losing end. I dun want to be average! I want to be at the top, deciding who to lay off! I must not be average!

Our academic education teaches us to be good employees. It teaches us to be average. It never teach us how to be rich, because our teachers and lecturers aren't rich themselves. It never teaches us how to invest and make our money work for us. Our system lacks financial education.

Attended a seminar and the speaker ask us to imagine if we have 2 million dollars today and what would we do with it. I'm sure a lot of people would want to buy car, buy condo. But for me I would want my 2 million to become 4 million, 6 million or even 8 million.

A survey was conducted and it has shown that 1% of those aged 65 and above is financially free. 4% is financially independent. 20% dead by age 65. And the remaining 75%, although still alive, hope that they are dead as they have spent all their money! Which group do u want to be?

posted by Whiteaura II @ 12:16 PM