Why u are not rich

[simplythebest]

Many people assume they aren't rich because they don't earn enough money. If I only earned a little more, I could save and invest better, they say.


The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it's how you treat money in your daily life.

The list of reasons you may not be rich doesn't end at 10. Caring what your neighbors think, not being patient, having bad habits, not having goals, not being prepared, trying to make a quick buck, relying on others to handle your money, investing in things you don't understand, being financially afraid and ignoring your finances.


Here are 10 more possible reasons you aren't rich:

You care what your car looks like: A car is a means of transportation to get from one place to another, but many people don't view it that way. Instead, they consider it a reflection of themselves and spend money every two years or so to impress others instead of driving the car for its entire useful life and investing the money saved.

You feel entitlement: If you believe you deserve to live a certain lifestyle, have certain things and spend a certain amount before you have earned to live that way, you will have to borrow money. That large chunk of debt will keep you from building wealth.

You lack diversification: There is a reason one of the oldest pieces of financial advice is to not keep all your eggs in a single basket. Having a diversified investment portfolio makes it much less likely that wealth will suddenly disappear.


You started too late: The magic of compound interest works best over long periods of time. If you find you're always saying there will be time to save and invest in a couple more years, you'll wake up one day to find retirement is just around the corner and there is still nothing in your retirement account.


You don't do what you enjoy: While your job doesn't necessarily need to be your dream job, you need to enjoy it. If you choose a job you don't like just for the money, you'll likely spend all that extra cash trying to relieve the stress of doing work you hate.


You don't like to learn: You may have assumed that once you graduated from college, there was no need to study or learn. That attitude might be enough to get you your first job or keep you employed, but it will never make you rich. A willingness to learn to improve your career and finances are essential if you want to eventually become wealthy.

You buy things you don't use: Take a look around your house, in the closets, basement, attic and garage and see if there are a lot of things you haven't used in the past year. If there are, chances are that all those things you purchased were wasted money that could have been used to increase your net worth.

You don't understand value: You buy things for any number of reasons besides the value that the purchase brings to you. This is not limited to those who feel the need to buy the most expensive items, but can also apply to those who always purchase the cheapest goods. Rarely are either the best value, and it's only when you learn to purchase good value that you have money left over to invest for your future.

Your house is too big: When you buy a house that is bigger than you can afford or need, you end up spending extra money on longer debt payments, increased taxes, higher upkeep and more things to fill it. Some people will try to argue that the increased value of the house makes it a good investment, but the truth is that unless you are willing to downgrade your living standards, which most people are not, it will never be a liquid asset or money that you can ever use and enjoy.


You fail to take advantage of opportunities: There has probably been more than one occasion where you heard about someone who has made it big and thought to yourself, "I could have thought of that." There are plenty of opportunities if you have the will and determination to keep your eyes open.


Guys let me have your input

Chhers.
Luke

All points stated are true. I agree.

 

[TitanRev]

CSL you really hit the spot. Too much people are followers nowadays instead of being a leader. Just follow what people do, be it clubbing, smoking, drinking...bla..bla..

I'm very thankful that my family was strict to me during my childhood. I was not born rich, nor my life was easy. I came from a broken family but my mum's teaching was never less. I'm very grateful for that. The guys & girls can say I'm a boring, not cool guy or what shit cause I don't go clubbing, I don't smoke (not even a puff I tried), I don't drink, don't gamble or buy 4D.

If people could just stop those mentioned activities for 1 months. Guess how much they can save. I really don't understand why have to smoke?, why have to drink?, why have to gamble? why have to go clubbing? why?

1. Is smoking so cool? does it make you look like Al Pacino? or James Bond? It's a self destruction move. It's a fact that smoking will cause cancer and other health problem but why people still smoke. I don't get it, so that you can have a chance to lay in the ICU bed and feel the bed's comfort?

2. Is beer so nice to drink, water not good enough? or milo or tea or coffee? Beer don't even taste sweet. It's bitter!! Why still so many people drink it. Why people don't drink pee instead. It's not good for health too. When drunk do a lot of stupid stuff and act like a fool.

3.Gamblers and 4D, TOTO buyers. How much money is spent there to hit the jackpot? and how much you have won back? do the maths? some people win 10,000K jumping like a kid so happy. When ask him how much you have paid to get this 10,000K...he just go blank...please do some maths, do you think the 10,000K is able to cover back the total you have spent for it...Not even close. I saw an uncle brag about how much he win at the lottery, RM2,000 I ask him how much you buy the TOTO already only till this day you won the RM2,000....25 years he bought already...only won RM2,000....I know some might say 'I win a few times already loh' so what? add up the total and let me see lah ...you won't be smiling already.

Those Genting gamblers, I saw with my eyes. 1 stack, 1stack of money throw on the table to gamble, 2 China girls at his side....very cool meh?? in the end, all also lose to Uncle Lim lah..why take the risk to gamble? it's not a game that you can 100% win or get extra.
I better use those money and donate to SPCA, old folks home, orphanage...for my family...no brain those people.

It's not the matter of main sikit sikit or main big big. Is the matter or worthiness. Is it really worth to gamble?

4. Clubbing....this one I no need say you also know already...

I don't give a shit if you say I'm not cool, loser what the hell. I have my own life and I make my own road. I don't follow, I lead.

Too many examples, I've saw from close friend and realtives. Clubbing until pocket money also finish still then come and borrow money from me. Gamble until no money then borrow with my family....What's wrong with these people brain.

PS: I'm not trying to offend anyone. Be it smoker, drinker, gambler but please sit down for a while and think about what you are doing now. Will it do you any good?

 

[lukeraj]

I admire your courage, well good do what you believe in you dont need to please anybody on your decision but have some fun if not life become boring.

Cheers

 

[lukeraj]

Hi guys how would you protect your investment or assets during this situation for the benefit of others please provide your proffesional input,

Cheers
Luke

 

[csl]

Hi guys how would you protect your investment or assets during this situation for the benefit of others please provide your proffesional input,

Cheers
Luke

Depends on how greedy you are. I just dump in FD and let Bank Negara to guard them. Sounds stupid right? But I don't need to think too much as those people who invest in various investment links. When you lost focus on your life, you may loose more than you aware of.

 

[JINEIL2EN]

Depends on how greedy you are. I just dump in FD and let Bank Negara to guard them. Sounds stupid right? But I don't need to think too much as those people who invest in various investment links. When you lost focus on your life, you may loose more than you aware of.

fully agreed....

just like when u got too many gf, ur life will be messy...

 

[lukeraj]

I agree but find ladies who dont drain you out ,then you will be ok and dont be in the giving end all the time.Good news is there is fun available from Sport ministry for small companies who want to startup new bussiness let me know if you guys need help and some input our new EPF sheme ,I find after culculation its viable to consider the government proposal,

EPF 8% Means Paying More Income Tax( For High Income Group)

Assume monthly basic salary is RM4000.
If your monthly EPF contribution is 11% ( RM440 ), taxable income = RM3560, income tax payable = RM77.
If your monthly EPF contribution is 8% ( RM320 ), taxable income = RM3680, income tax payable = RM109.

Conclusion : If you choose to contribute 8%, you will end up paying more income tax to the government, which will make the government richer. Finance Minister Najib said this measure is meant to boost up the slow-down market, but from this example wee see that the money does not go into the market. Instead the money goes direct into the government's pocket through
the greater amount of income tax that we will have to pay. Obviously this measure does not
help the market at all. Do we still want this kind of government that doesn't have the best interest
of the people in mind?

Cheers

 

[lukeraj]

Sorry the EPF scheme is not viable
Cheers

 

[JINEIL2EN]

I agree but find ladies who dont drain you out ,then you will be ok and dont be in the giving end all the time.Good news is there is fun available from Sport ministry for small companies who want to startup new bussiness let me know if you guys need help and some input our new EPF sheme ,I find after culculation its viable to consider the government proposal,

EPF 8% Means Paying More Income Tax( For High Income Group)

Assume monthly basic salary is RM4000.
If your monthly EPF contribution is 11% ( RM440 ), taxable income = RM3560, income tax payable = RM77.
If your monthly EPF contribution is 8% ( RM320 ), taxable income = RM3680, income tax payable = RM109.

Conclusion : If you choose to contribute 8%, you will end up paying more income tax to the government, which will make the government richer. Finance Minister Najib said this measure is meant to boost up the slow-down market, but from this example wee see that the money does not go into the market. Instead the money goes direct into the government's pocket through
the greater amount of income tax that we will have to pay. Obviously this measure does not
help the market at all. Do we still want this kind of government that doesn't have the best interest
of the people in mind?

Cheers

wow... set us up at the back way that fucker najisb....

thats for the calculation...

 

[csl]

Luckily I'm tax free

 

[lukeraj]

Dont be upset guys its for our knowledge and you have choice ,I have friend who have RM200,000
cash and ask my advise how he double up his investment and which type off bussiness he should explore.

Guys advise me .:stupid:..................................

 

[links]

RM200k is not a very big sum. But current invesment market is fluactuating and not suitable for any investment in share, forex...etc. double in 10 years time or 5 years time? its a big different.


i will keep my $$ in bank as FD if i were your friend for 1 year, then take it out to buy some property or share (not in malaysia)

starting business....hm, perhaps discounted papaya farm will be in demand under recession....hahaha

Bump: RM200k is not a very big sum. But current invesment market is fluactuating and not suitable for any investment in share, forex...etc. double in 10 years time or 5 years time? its a big different.


i will keep my $$ in bank as FD if i were your friend for 1 year, then take it out to buy some property or share (not in malaysia)

starting business....hm, perhaps discounted papaya farm will be in demand under recession....hahaha

 

[xand]

Dont be upset guys its for our knowledge and you have choice ,I have friend who have RM200,000
cash and ask my advise how he double up his investment and which type off bussiness he should explore.

Guys advise me .:stupid:..................................

What's the timeline he wanted the 200K to double up? a year, or 10 years?
FD - low risk, still u're gonna earn some bit of 3% interest yearly.
Business - you need experience and face alot of risk; somemore, when are you gonna start gaining profit after spent so much on the costs?
Share - look at the market now... too much risk, but if you got more amount of cash to roll if anything happened, go for it.
Unit trusts - depend on what kind of fund you invested, and stil abit risk of getting lower than FD.
Insurance investment - future planning, money can't really rolled out; but at least gets another protection and savings. alots of package out lately; try annuity savings, it's the best i think.

 

[JINEIL2EN]

rm200k....
set a new bookie for soccer gambling... or b a small ah long which start from Hawkers... mostly they needs only 1-3k for turnover only.. low risk, high refund... & u will be good guys to them coz helping them in hard time...

 

[Bevan]

You the man TitanRev. For that im gonna stop of the above =)

Bump: You the man TitanRev. For that im gonna stop of the above =)

 

[lukeraj]

Can you explain what youe mean

 

[Bevan]

I mean, i'll smoke only on occasions. stop clubbing. i never gamble.

Anyways, relating to this thread. The main reason why we are never rich in my opinion is because we are just employees. Not counting CEOs, we are working our ass of for our bosses while they earn all the dough. I have a saying among my friends that we are all just prostitutes. We do whatever our boss say just as long as we get that crappy salary. Having your own business is the way to go. Even though you do not make it. Its much more worth while of your time.

 

[lukeraj]

TQ for your explanation i agree with you ,but we cant go on doing the same as I always mention you have a choice if you dont make that choice the choice makes and you leave with it and you cant blame anybody else and its never late to look up for better options

I belief that for you to respond to this thread you are looking for changes make that culculated move and you will there

Cheers

 

[Bevan]

Cheers to you too lukeraj. By the way, pm me more on what you are actually doing? im an open-minded businessman :wavey:

Bump: Cheers to you too lukeraj. By the way, pm me more on what you are actually doing? im an open-minded businessman :wavey:

Bump: Cheers to you too lukeraj. By the way, pm me more on what you are actually doing? im an open-minded businessman :wavey:

 

[xand]

rm200k....
set a new bookie for soccer gambling... or b a small ah long which start from Hawkers... mostly they needs only 1-3k for turnover only.. low risk, high refund... & u will be good guys to them coz helping them in hard time...

Set-up gambling bookie = it's a crime, and criminals will face risk of getting caught one day; find network of gamblers.
become ALONG = face the risk of runaway debtors... or not going to pay you at all...

Bump:

I mean, i'll smoke only on occasions. stop clubbing. i never gamble.

Anyways, relating to this thread. The main reason why we are never rich in my opinion is because we are just employees. Not counting CEOs, we are working our ass of for our bosses while they earn all the dough. I have a saying among my friends that we are all just prostitutes. We do whatever our boss say just as long as we get that crappy salary. Having your own business is the way to go. Even though you do not make it. Its much more worth while of your time.

some certain CEOs and businessman also starts from zero, without anything... they also worked hard before and living in a hard way which we might know! stop blaming our lives... u can try to involve in multi-level network marketing (direct selling) or become an insurance agent which offered unlimited income, but the main question is, can you sacrifice your time and put more effort?