Wealth Book Section I (V3).pdf

June 13, 2018 | Author: Sau Fei | Category:Wealth
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Chapter 1: Secrets of A Self-Made Millionaire First, I would like to thank you for picking up this book. Your investment of time and money in reading this book only means that you know you can and deserve to make a lot more money and achieve greater wealth in your life
You know that you can achieve the wealth that will allow you to experience the freedom and security that you deserve. Money that will allow you to live the lifestyle of your dreams, to do what you truly love, to buy what you have always wanted, to share it with the people you care about and to make the world a better gift through your generosity
Well, I have great news for you. You already have in your possession, the greatest money making asset that you will ever need. You have the exact same raw materials available to you as what Bill Gates, Warren Buffett or Donald Trump started off with
The Greatest Money Making Asset that Will Make You A Fortune So what is this one asset that all of us already have at our disposal? No, it’s not your double degree, MBA or PhD. from the best universities
And no, it’s not the inheritance the ‘lucky’ get from rich dad, rich uncle or rich grandma to kick-start their business
No, this asset is so powerful that it will not just give you a 4% return like the bank or even a 20% return which you would expect from the stock market
This asset has the potential to give you infinite returns. In fact, it can, if passionately developed, give you a 1000% return on your time investment
The asset I am talking about is something that all of us have been given at birth. It is an asset that all of us have in common. It is this one single asset that will generate for you unlimited wealth. This asset is your mind, also known as your intellectual asset!
When you invest time and money to expand your knowledge and skills, especially your financial education, it will return you millions of dollars in income streams for the rest of your life! And that is exactly the purpose of this book, to massively increase the power of your intellectual asset
The reason why I believe in this so much is because like many self-made millionaires, I started with nothing but a hunger for knowledge of how to create wealth. Today, I can honestly say that the millions of dollars my partners and I have generated for our companies and our families have been spun off from nothing but the ideas in our heads. Ideas that would not have been there if not for the investment we had made in our financial education
In the past, the majority of a company’s assets were made up of physical stuff like machinery, plant, equipment and land. You would value a company by adding up the book value of all its fixed assets. Today, over 90% of a company’s value is in its intellectual assets! Look at Google, Microsoft, Nike, Berkshire Hathaway or Ebay. They are worth billions of dollars and generate hundreds of millions of dollars a year and yet they hardly own much physical assets. If you were to add up the total value of their factories, bank account, inventories and office equipment, it would make up less than 5% of what the company is worth. In fact, Nike doesn’t even own many factories. The wealth of these companies lie in the ideas of the people working there
The same thing goes for you! Over 90% of your wealth is not what you have in your wallet or in the bank, it is the ideas that you have in your head! In the information age of today, one great idea can be worth a billion dollars. That was how a kid in blue jeans with no money, working out of his adopted parent’s garage could become a multi-millionaire at age 25 (Steve Jobs, CEO of Apple Computers)
That’s also how a 35-year old Indian national who arrived in a foreign land (Singapore) without a single dollar in his pocket and nothing but a job offer from a prospective employer, could build a global company with an annual revenue of $3.4 billion with 800 staff in 31 countries all within just five years (Vikas Goel, CEO of eSys Technologies)
Latest brain research has shown us that all of us have basically the same neurology and that all of us share the same phenomenal brain potential. In fact, the average person uses less than one percent of their potential intelligence in their entire lifetime (if you want to know more about brainpower, read my first book, ‘I Am Gifted, So Are You!’). So, as long as you have a functioning brain, you are already born with the greatest money making asset that you will ever need. You have the exact same raw materials available to you as Bill Gates, Warren Buffett, Richard Branson and Donald Trump. All these billionaires started with nothing but their intellectual capital
So, whatever your passion and purpose, I am going to share with you how to start activating your greatest asset by giving you what I believe is the cutting edge, the most advanced and powerful wealth creation strategies available today. You will learn precisely how to create, control, multiply and manage your wealth
If You Want to Get a 1000% Return on Your Investment You Must Do this… However, in order to get the most out of this book, I encourage you to participate fully in all the exercises and activities I have laid out. As you read, circle key concepts, jot down notes and constantly return to them for reference
When it comes to specific activities, stop reading, grab a pen and follow the instructions that I will give to you. I believe that in jotting down and doing, you will truly integrate the essence of what I am going to share with you
If you have little or no background in finance and accounting, some of the later chapters on investments may seem a bit intimidating, but don’t worry, keep pushing yourself and you will master it in no time
Finally, I would like to challenge you to complete this book within ten days or less. How? Simply spend at least an hour a day reading two chapters, digesting the material and putting it into action. Statistics have shown that 87% of people who buy a book never complete it and less than 3% ever follow through by applying what they have learnt. What a complete waste of
money and time! But I believe you are different. I believe that you are someone who is fully committed to getting immediate results in your life
So, get pro-active as you read and you will begin to see doors and windows opening for you
My Journey as a Self-Made Millionaire So, what qualifies me to be your wealth coach? Who am I to teach you about how to make money? Am I the richest guy in the region? Or even in Singapore? Of course not! But I dare say that I am someone who has created massive wealth within a very short period of time
At the age of 26, I became one of Singapore’s youngest self-made millionaires (despite being in the army for two and a half years). As a result, I was featured in almost every major newspaper and TV channel in the country. (You can view these press reports at www.adam-khoo.com). Today, at the age of 31, I own three businesses with a combined turnover of over $20 million and personally earn over $936,000 a year, half of which come from my investments. And I created all this wealth starting with virtually nothing but the ideas in my head… the same raw material that you too have been blessed with. I did it without a single dollar in inheritance, no bank loans or any external investments
So How Did I Achieve All This? I would say that the greatest contributing factor was my very intense desire for success and wealth. It was this passionate desire that drove me to want to learn everything I could about the strategies of the rich. From the age of 15, I was obsessed with reading books on success and wealth from authors like Warren Buffett, Peter Lynch, George Soros, Anthony Robbins, Zig Ziglar and many others. I would model the mindsets and strategies of these people and begin to take and apply every new technique I learnt until I achieved the results I wanted
So what first inspired me to become wealthy? Why was I thinking about how to become a millionaire while all my friends were thinking about what was the latest cartoon on television? Yes, in a sense I was privileged to be born into a wealthy family where my dad and my uncles were living in
million dollar bungalows, driving Mercedes Benzes and earning million dollar incomes
I saw the immense financial freedom and security they enjoyed and it opened my mind up to the possibilities of what was achievable. In my family, it was not uncommon for someone to make a million dollars a year in personal income and so it installed a belief in me early on in life that it was indeed possible, especially as my dad and his brothers all started with absolutely nothing
However, the greater privilege I had was that although my dad was wealthy, he intentionally gave me nothing… but love, food and educational support
My dad saw how most kids who were born rich and given all the financial benefits eventually ended up spoilt and totally screwed up. So, he followed the motto ‘you have to be cruel to be kind’ and went the other extreme. Even though we lived in a bungalow and my dad had four country club memberships, I got less pocket money than my schoolmates. While many of my friends had lots of pocket money left over for snacks, marbles and card games, my dad would just give me just enough for a bowl of noodles and a drink. Even when he gave me $2 to buy something worth $1.50, he would ensure that I handed the 50-cent change back to him. Sometimes I felt very deprived and thought my dad was a real scrooge. But it was precisely the way dad brought me up that became a blessing in disguise. It laid the foundation to my true wealth education, which was to be hungry for wealth and success
My dad believed that if a parent gave his child everything, he would kill the child’s hunger for success. He knew that hunger was the key to motivation and the only way to make me hungry was to deprive me. Whenever I asked my dad to buy me something, his predictable reply would be, ‘why should I buy it for you? Buy it yourself!’ So early on in my life, I learnt that nobody owed me a living
At that time, I was addicted to arcade games and had a love for collecting Star Wars toys. And since my dad was certainly not going to give me the money for it, I decided to make my own money. I felt that if I had my own money, then I would have the absolute freedom to buy what I wanted, without asking anybody’s permission, especially my dad, who would give me a one hour lecture for wasting his money. This was when I first adopted

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