Espiya
Espiya Newstand (Current Events, Classifieds, Events) => Current Discussions => : A7x September 22, 2014, 02:20:48 PM
-
We’ve all heard that saying “the rich get richer and the poor get poorer†and I have to say that this fact is actually very true. There is however a very good reason for this and it has nothing to do with rich people being bad and taking money away from poor people as the saying sometimes implies. It has mostly to do with financial education and spending habits.
What do the poor & middle class do?
The poor and middle class usually stay ‘poor’ and ‘middle class’ because of their mindset and financial education. Once they get more money than they need for expenses, they usually spend it on liabilities. The energy, time and labour from working for their money now effectively goes out the window and down the toilet. That money is never seen again. Here are some examples of purchases that the poor and middle class make with excess funds:
-Food
-Entertainment and entertaining others (parties etc.)
-Costly electronics
-Trips
-Household gadgets
-Clothes & jewellery
-Vehicles
(http://www.millionaireacts.com/wp-content/uploads/2010/07/poor-people.jpg)
What do the rich do?
-The rich purchase assets that create positive cashflow, portfolio and passive income. Some examples are:
-Stocks, bonds, mutual funds, etc
-Investment real-estate
-Businesses
(http://www.millionaireacts.com/wp-content/uploads/2010/07/rich-people.jpg)
Cash-flow is the amount of money that they have coming in on a regular basis from their income producing assets. It is how they retire rich and get richer and richer.
So how do they purchase expensive things like CARS,HOUSES,etc? They use their money to purchase assets and then use their portfolio or passive income from the assets to purchase the same liabilities that the poor and middle class do. The difference in their spending is that their money doesn't go out the window and down the toilet, never to be seen again. The money that the rich worked for, goes to creating more money. In this way, their money begins working for them and they can retire rich. The best part is that even after they retire, their money begins to compound and they get richer and richer!
-
yes definitely very very true
gusto ko nga yung kay Rober kyosaki ba yon? meron ka den makukuha idea?
::)
-
another big difference din is capital.
poor and middle class very limited capital. most walang magagamit na collateral para umutang sa mga institutions para makapagsimula ng business. since limited ang capital, madaling gayahin ang mga negosyo na itatayo, usually food cart, sari sari store, etc.
while rich people, kahit as low as 1m capital, mahirap ng gayahin ng poor people ang business na itatayo or investment ng mayaman ng mayaman ;)
ang mga middle class earner kung kuripot lang sila or matipid, kapag umabot na ng 1m mark ang kanilang ipon, invest na agad nila sa real estate lalo na sa mga pre-selling na property kikita agad sila ng malaki.
-
another big difference din is capital.
poor and middle class very limited capital. most walang magagamit na collateral para umutang sa mga institutions para makapagsimula ng business. since limited ang capital, madaling gayahin ang mga negosyo na itatayo, usually food cart, sari sari store, etc.
while rich people, kahit as low as 1m capital, mahirap ng gayahin ng poor people ang business na itatayo or investment ng mayaman ng mayaman ;)
ang mga middle class earner kung kuripot lang sila or matipid, kapag umabot na ng 1m mark ang kanilang ipon, invest na agad nila sa real estate lalo na sa mga pre-selling na property kikita agad sila ng malaki.
In my opinion, financial education is the answer.. How can the poor and middle class raise a capital to buy asset producing cashflow? It's starts with paying yourself first. To pay yourself first means simply this: Before you pay your bills, before you buy groceries, before you do anything else, set aside a portion of your income to save. The first bill you pay each month should be to yourself. This habit, developed early, can help a person build tremendous wealth.
Why pay yourself first?
If you’re just getting started in the Real World, saving may seem impossible. Here are three reasons to start saving now instead of waiting until next year (or the year after):
1.When you pay yourself first, you’re mentally establishing saving as a priority. You’re telling yourself that you are more important than the electric company or the government. Building savings is a powerful motivator — it’s empowering.
2.Paying yourself first encourages sound financial habits. Most people spend their money in the following order: bills, fun, saving. Unsurprisingly, there’s usually little left over to put in the bank. But if you bump saving to the front — saving, bills, fun — you’re able to set the money aside before you rationalize reasons to spend it.
3.By paying yourself first, you’re building a cash buffer with real-world applications. Regular steady contributions are an excellent way to build a nest egg. You can use the money to deal with emergencies. You can use it to purchase a house. You can use it to save for retirement. Paying yourself first gives you freedom — it opens a world of opportunity.
-
one factor could be, Psychological wallet for example you're earning 20k then you get a bonus of 30k, more or less most of us would have the tendency to spend those 30k on cellphones,clothes,shoes etc. because subconsciously we are panicking inside and we'll force ourselves to spend it all so we can go back to our 20k identity level
Most poor people(including me) issue is dealing with the next problem without having the bandwidth to deal with what is down the pipeline. Financially, we have a little room for error and the magnitude and intensity of that effect is very different compared to the rich people but in the end, poor people always root of mistakes is the lack of proper planning.
-
its just perspective. kung sa tingin mo pay yourself first, that's your perspective.
sa tingin ko naman maging kuripot or just simply save.
both end result... you'll still have saved some money.
=====
sa mga mahihilig naman magspend, sa tingin ko, dapat they know how to say no.
no, i'm not going to buy a new gadget/phone. since my old phone still works.
no, i'm not going to buy new shoes. since yearly my brother in law sends me new shoes.
no spending too much on gimmicks.
no buying of unnecessary things.
-
Kurabo is correct, proper planning or goal setting is a must if you want to change your financial status. I just want to share something I'm using right now to raise a capital..Not to brag or anything pero I hope maka tulong sa hindi pa naka rinig.. Basic lang po sya pero effective.. I heard meron 80/20 rule at meron din 70/30. I'm using 70/30 right now and at first I was hesitant pero after 6 months I was surprised sa na accomplish ko. Ang ibig sabihin nang 70/30 ay sa 100% income ko every month I set aside the 30% I even break it down to 10% kasi gumawa ako nang 3 savings ang first 10% sa retirement savings ko ang 2nd sa investment savings (I play with this money to buy assets so even if I lose it I still have my retirement savings intact) 3rd is sa church. Ang remaining 70% naman ay budget ko na sa bahay, kuryente, tubig, atbp.. Nung una kinukulang ako kasi maraming utang pero I used it as motivation na humanap nang extra income na part time to compensate. after 6 months na feel ko yung effect nya I hope tuloy-tuloy na sya.. gaya nang sabi ni toblerone its all in the mind..
-
even if the poor and middle class buy/get assets, they will still not get to the level of the moderately rich. why?
ASSET MANAGEMENT.
laws are ever changing to suit the pockets of those in power. real estate brokers for example: instead of any 4-year course grad, they will now instill it's own course! as in you will graduate from college as a real estate brokerage grad! akalain mo nga naman: rerenta ka lang, kelangan pa ng middleman(aka the broker). dagdag gastos.
don't think about where the line is drawn (aka poverty line, financially educated, etc.), think about WHO draws the lines!
-Nassim Nicholas Taleb
peperahan lahat ng pwedeng perahan. that's the motto of the upper-class and those in power. and (for some)their kids are educated early by their parents' examples and seeing it suceed. see the TRAPOs (traditional politicians). that's the difference between the upper/elite class and everyone else. ika nga sa OUTLIERS, they have reached over 10000 hours of schooling in financial and asset education, iba ang pananaw nila tungkol sa pera and power.
see those who teach "financial education": they get their money from teaching others how to make money... ::laffman
whether their student succeed or fail, wala na sila dun, they still get their money. smart, di ba?
-
even if the poor and middle class buy/get assets, they will still not get to the level of the moderately rich. why?
ASSET MANAGEMENT.
laws are ever changing to suit the pockets of those in power. real estate brokers for example: instead of any 4-year course grad, they will now instill it's own course! as in you will graduate from college as a real estate brokerage grad! akalain mo nga naman: rerenta ka lang, kelangan pa ng middleman(aka the broker). dagdag gastos.
don't think about where the line is drawn (aka poverty line, financially educated, etc.), think about WHO draws the lines!
-Nassim Nicholas Taleb
peperahan lahat ng pwedeng perahan. that's the motto of the upper-class and those in power. and (for some)their kids are educated early by their parents' examples and seeing it suceed. see the TRAPOs (traditional politicians). that's the difference between the upper/elite class and everyone else. ika nga sa OUTLIERS, they have reached over 10000 hours of schooling in financial and asset education, iba ang pananaw nila tungkol sa pera and power.
see those who teach "financial education": they get their money from teaching others how to make money... ::laffman
whether their student succeed or fail, wala na sila dun, they still get their money. smart, di ba?
Again, the answer goes back to becoming financially educated. Yes, you are correct the subject of money was never taught in school. School teaches you how to become an employee. "To work for money." "To work for the rich." The world is full of people na gusto makalamang nang kapwa yes, thats always given. But if you educate yourself, stop blaming the government or other people and start to take control of your life then you will find peace and financial freedom that you've been looking for. Sometimes, we let life pushes us into submission. Deep down we are terrified of taking risks. We really wanted to win, but the fear of losing was greater than the excitement of winning. Deep inside, you and only you will know you didn't go for it.
-
Again, the answer goes back to becoming financially educated. Yes, you are correct the subject of money was never taught in school. School teaches you how to become an employee. "To work for money." "To work for the rich." The world is full of people na gusto makalamang nang kapwa yes, thats always given. But if you educate yourself, stop blaming the government or other people and start to take control of your life then you will find peace and financial freedom that you've been looking for. Sometimes, we let life pushes us into submission. Deep down we are terrified of taking risks. We really wanted to win, but the fear of losing was greater than the excitement of winning. Deep inside, you and only you will know you didn't go for it.
and that's the thing: WHO GIVES THAT "FINANCIAL EDUCATION"? what incentive do they gain from teaching "us" (aka the masses) ? what are they teaching? (aka are they leaving something out? leading us to another viewpoint that supports their motives?) why the hell should we trust WHAT THEY ARE SAYING?
that's the basic difference between the heirs and the ones getting their "financial education". the heirs do not just hear what their elders say, but WHAT THEY DO, HOW THEY ACT. and they've felt the consequences of those actions/decisions made by their elders (either positive or negative) in their daily lives before. compare that to a "financial education" student that learns in a classroom/hall during a seminar. a big difference.
i can teach you how to drive, but i cannot tell you what to do in a specific situation unless I'M ALSO THERE. not 'was there', but ALSO THERE.same with that financial edumacation.... ::laffman
why the hell would they help you earn money..? unless THEY also NEED YOUR MONEY...
question is, are you guys going to that "financial education" getting the most bang for your buck? or in the end will just be screwed over?
learn the rules/laws, see the people themselves IN ACTION, is the best way to learn, and sadly not allowed by most who push "financial education"... smoking::
-
okay lang yan maging empleyado sa umpisa.. sa umpisa... tiis tiis lang muna at umiwas sa mga luho... mag ipon para mapaayos bahay at magparenta ng kwarto... kapag nakaipon ulit, bili ng lupa, tapos patayo ng apartment... ganyan ginawa ko sa buhay ko ... ngayon 2 years na akong tambay... walang risk pero maliit din reward... pero sapat na sa akin ganung income... kung gusto mas malaking income, magtayo ng business talaga... pero masyado na akong tamad para sa ganuong bagay... nakatikim na kasi ng buhay tambay wahaha... college pa lang ako noong nabasa ko rich dad poor dad... laking tulong talaga... bago mag-30 financially free na
-
Life isn’t fair. No one ever said it would be. But life is what you make it. If you play the blame game, it’s hard to win at life. Today, it’s also clear that people are playing the blame game and losing at life. In these hard times, people want to blame the rich for their problems. Because life is not fair, people are looking at those who have an unfair advantage and wanting to even the playing field. The problem with this blame game is that it takes an entire class of people and pits them against another class of people. It creates tension and aggravation. But it doesn’t create any solutions. And it goes both ways. The poor blame the rich. And the rich blame the poor.
Money doesn’t make you successful.
Are there some people among the rich who are part of the problem? Yes. Are there some people among the poor who are part of the problem? Yes. Classes aren’t the problem. People are.
There are rich people who are not successful. Maybe they inherited their money and waste it frivolously. Maybe they got it through crooked means. Maybe they won it and never earned it.
There are also poor people who are the cause of their own financial failures. They don’t work hard. They don’t educate themselves. They don’t have any ambition.
But this isn’t true of all the people in those classes. Only some.
The truth is that whether you’re rich or poor, the amount of money in your bank account isn’t what makes you successful.
What makes you successful is building something of value to others. Most often this is done through investing and business, which is why money follows. But it’s not the money that makes the success — the money is simply a sign of success. Rather it’s the initiative and end-product of entrepreneurs or investors that makes a success because they bring value to the world.
Successful people solve problems. They provide jobs. They fund new ideas and initiatives. They take risk so that they and others can benefit. Sometimes this makes them rich. Sometimes it makes them poor. But they always move forward and never blame others.
The solution isn’t to punish them for being successful in order to reward those who aren’t successful.
Play by the new rules.
Ultimately, the difference between successful people and those that aren’t successful is that, while they both understand life isn’t fair, they react differently.
Those that aren’t successful play the blame game and make others the source of their problems. They’re always at a disadvantage because they never take the time to create their own advantage. They’re too busy waiting for it to be handed to them.
Those that are successful understand that an unfair advantage exists and they do all they can to create their own unfair advantage through financial education, which they use to build business and invest successfully — to create solutions. Successful people understand that life is what you make it.
If you’re feeling like life isn’t fair, and if you’re blaming others for your problems, I want to encourage you to change your mindset. Begin today to instead look at yourself and think through what you can do to change your own situation. Invest in your financial education. Seek out new opportunity.
You can see the world as one of scarcity or one of abundance. You can play the blame game or the solutions game. It’s your choice.
-
Kurabo is correct, proper planning or goal setting is a must if you want to change your financial status. I just want to share something I'm using right now to raise a capital..Not to brag or anything pero I hope maka tulong sa hindi pa naka rinig.. Basic lang po sya pero effective.. I heard meron 80/20 rule at meron din 70/30. I'm using 70/30 right now and at first I was hesitant pero after 6 months I was surprised sa na accomplish ko. Ang ibig sabihin nang 70/30 ay sa 100% income ko every month I set aside the 30% I even break it down to 10% kasi gumawa ako nang 3 savings ang first 10% sa retirement savings ko ang 2nd sa investment savings (I play with this money to buy assets so even if I lose it I still have my retirement savings intact) 3rd is sa church. Ang remaining 70% naman ay budget ko na sa bahay, kuryente, tubig, atbp.. Nung una kinukulang ako kasi maraming utang pero I used it as motivation na humanap nang extra income na part time to compensate. after 6 months na feel ko yung effect nya I hope tuloy-tuloy na sya.. gaya nang sabi ni toblerone its all in the mind..
I use something simpler that might be a bit small for some of my Espiya brethren but might work for others: the 50/30/20 Rule. 50% of your income goes to your needs; 30% goes to your wants; and 20% goes to your savings.
I change it up sometimes depending on the amount of money that comes into my hands but I don't deviate much from it. And to be honest, it helps a lot that my wants aren't that expensive. I have some leeway for my needs and my savings because of that.
-
gaya ni dweizz that's what we did. ipon muna, then ng magkaroon ng sapat na ipon yung property namin pinaconvert into an apertment. now meron kaming 4 door apartment. tambay din ako for 4 years na ::laffman
additional income ko lang is pasideline sideline lang sa repair ng computer sa mga kamag anak ko, buy and sell at salary ng wife ko.
-
Here is something to think about..
Ask yourself who's advocating all this Financial Literacy/independence stuff? Mostly are connected to large financial institutions like insurance corporations and banks right? When you become financially literate and is now in the quest for financial independence where do you usually invest? Starting your own business requires large capital and is very risky, real state again needs a lot of money.. For those just starting out where to they go? Stocks? mutual funds? How do you buy your stock and who manage your mutual funds? ::lmao ::lmao
If you really think about it, this financial literacy thing is just a plot of this institutions to get money out of your pocket.. Im not saying that you should not invest (thats stupid, you should) But never expect too much, and don't always believe what you are told. Financial institutions will show you big numbers; growth rates, how much you'll have after X-number of years etc.. but the truth is, You investing your money benefits them more than it benefits you..
My take on this, Invest in yourself not in others. Put your money/savings with financial institution only for it not to be affected by inflation, so that it will retain its value overtime and probably earn as well, but this should not be the end of your investment, your money should not stay with them forever.. once you've save enough, its time to take that money away and invest it in your self. Get better education and learn stuff that will help you earn even more, then maybe start your own business when you feel you have the proper knowledge and its the right time...
-
gaya ni dweizz that's what we did. ipon muna, then ng magkaroon ng sapat na ipon yung property namin pinaconvert into an apertment. now meron kaming 4 door apartment. tambay din ako for 4 years na ::laffman
additional income ko lang is pasideline sideline lang sa repair ng computer sa mga kamag anak ko, buy and sell at salary ng wife ko.
Ganito din ginawa ng pamilya ko.. Di naman sa pagyayabang but now all of us can probably sit back, relax and do nothing.. Unfortunately, this only works if you have an already existing property that can be converted to an income generating asset. the saying "the rich getting richer" is applicable here since you already have something to begin with.. For those who have nothing (or very little) and only has "himself" as an asset, they really have to figure out a way to increase their income and manage it very well. Only then can they start thinking of buying apartments, lands etc as investments.
As for me, well lets just say I have to much of an ego and pride to just sit around and do nothing.. So here I am working my ass off in the 9-5 rat race... ::lmao ::lmao
-
Yung property naman is 300k lang. Sinuwerte lang na foreclosed property iyon. As for sa ginastos for building an apartment, 1m inabot some of the funds inutang sa mga kamag-anak. By 2006 nabayaran na yung mga utang.
Ang nagbenifit din sa apartment ay yung mgakamag-anak din namin na less fortunate. 3.5k rent for an up and down apartment in the metro.
Yung mayaman namin kapitbahay ginaya rin yung ginawa namin, namili rin ng property malapit dito. Now he has a 25 door apartment.
Kitang kita ang difference sa mahirap na nagsumikap. Compared sa mayamang walang kahirap hirap.
-
The keyword is "CASHFLOW" if you think hindi pa kaya mag invest sa 4 asset classes gaya nang real estate,stock market, etc.. you can always use your imagination and think of something na need sa lugar ninyo na you can provide..Be a problem solver.Once you can solve a problem in your area money will just follow.. know your "WHY" and you will find your "HOW". You can always innovate.. I'll give you a perfect example, I have a friend na walang wala talaga, what he has is his bicycle na ginagamit nya araw2 para pumunta sa trabaho nya as construction worker, now sa lugar nila problema ang transportation so ang ginawa nya nag ipon sya nang pera at bumili nang sidecar sa bike nya. Now, ang boundary nang trike or "tricikad" thats a visayan term not sure how you call it in tagalog" is 150pesos per day so sa isang buwan may P4,500 sya na kinikita sa bike nya. pina rent nya yung trike nya sa mga tambay na kilala nya rin na gusto kumita.. nang naka ipon na sya bumili pa sa nang isa hanggang naging sampo at kumikita na sya nang P45,000 as passive income sa tricikad business nya.. now he has 15 tricikad and 20 tricycle.. Money is just an idea, our brain is the most powerful computer in the world. You can choose to become extremely wealthy beyond your wildest dreams or you can choose to be poor. At the end of the day, ikaw parin ang mag decide kung ano gusto mo mangyari sa buhay mo..
-
^
buti walang gumaya sa kanya. dito kasi sa manila kapag maliit puhunan mo madaling gayahin.
for example na lang yung buko shake, afew years ago naging boom ang buko shake dito. at first sa malls mo lang makikita after a few months bawat kanto yata meron na nagtitinda ng buko shake.
=====
tama rin si a7x, look kung ano need ng community. from there saka ka maginvest. basic necessity/needs ng tao ay ang food, shelter, clothing. kaya apartment ang ipinatayo namin.
aside from sa mga nabangit kong other source of income, about a year ago nag-umpisa rin akong mag-alaga ng dog. shitzu lang muna kasi 1st time ko pa lang mag-alaga ng aso at para di rin ganoon kalaki ang investment. hopefully by next year, madagdagan ng other breeds. with dog breeding although mura at madaling gayahin, di kinakagat ng ibang pinoy ang ganitong negosyo kasi time consuming, gusto ng karamihan ng pinoy easy money. kung tutuusin easy money rin ang dog breeding. sa first year ka lang maghihirap mag-alaga ng aso, kapag nanganak na lalo na kung marami ang breeders, easy money na. ang hirap na pagdadaanan lang ay maglinis ng kulungan daily laffman::
ang target ko is at least 1 dog ang manganganak every month para kung gusto na ni misis magretire from work meron kapalit na source of income.
-
nice thread... more more share/idea please hehehe
like like :applause
-
As the saying goes "businesses exist to solve a problem". I you see a "problem" in your area, that's an opportunity to start a business.. Providing transportation or housing are examples..
@A7x
Your friend did the right thing. He invested time, effort and money to himself in his OWN business and is now benefiting from it. As I've said "invest in your self, not on others". He's a visionary and a risk taker as well as being lucky. Unfortunately, not everyone is like that nor can everyone become like that. Aside from capital and financial know-how, it takes CHARACTER to engage and succeed in business. Its not for everyone. I've seen a lot of people try and failed simply because its out of their character. Some people, believe it or not, are better off as employees. Does that mean these people are doomed? Of course not. You can save up then get better education like a Masters degree or a Phd which in turn will let you command a bigger salary. Some companies will even provide them for free if your a good employee. Then maybe later on acquire income generating assets like apartments, etc. when you can realistically afford it..
Yes, management of cash flow is very, very important.. Everyone should learn how to save but where you put your money and how you plan to use that money is very important as well.. The way I see it right now, with all this "financial independence" flying around, people tend to put their money on Stocks or Mutual funds (for as little as 5k you can invest) Yet most of them probably don't have a clue on how this system works much less a plan on what to do with the money they save.. They simply hope that it will grow and grow and become large enough for them to retire.. This kind of thinking for me is wrong. Yes, you will probably have several millions when you retire say at age 60 but you will have to work your ass till then and don't forget that the value of money as well as the standard of living continually change as well, its possible that even with your millions, its still not enough to fully retire. Then, who do you think will truly benefit from the money you save? The institutions you gave it to.. Chances are they will use it to gain more assets for themselves.
-
As the saying goes "businesses exist to solve a problem". I you see a "problem" in your area, that's an opportunity to start a business.. Providing transportation or housing are examples..
@A7x
Your friend did the right thing. He invested time, effort and money to himself in his OWN business and is now benefiting from it. As I've said "invest in your self, not on others". He's a visionary and a risk taker as well as being lucky. Unfortunately, not everyone is like that nor can everyone become like that. Aside from capital and financial know-how, it takes CHARACTER to engage and succeed in business. Its not for everyone. I've seen a lot of people try and failed simply because its out of their character. Some people, believe it or not, are better off as employees. Does that mean these people are doomed? Of course not. You can save up then get better education like a Masters degree or a Phd which in turn will let you command a bigger salary. Some companies will even provide them for free if your a good employee. Then maybe later on acquire income generating assets like apartments, etc. when you can realistically afford it..
Yes, management of cash flow is very, very important.. Everyone should learn how to save but where you put your money and how you plan to use that money is very important as well.. The way I see it right now, with all this "financial independence" flying around, people tend to put their money on Stocks or Mutual funds (for as little as 5k you can invest) Yet most of them probably don't have a clue on how this system works much less a plan on what to do with the money they save.. They simply hope that it will grow and grow and become large enough for them to retire.. This kind of thinking for me is wrong. Yes, you will probably have several millions when you retire say at age 60 but you will have to work your ass till then and don't forget that the value of money as well as the standard of living continually change as well, its possible that even with your millions, its still not enough to fully retire. Then, who do you think will truly benefit from the money you save? The institutions you gave it to.. Chances are they will use it to gain more assets for themselves.
I also do not recommend stocks or bonds for starters. it takes a long time before you can get your dividends. When I say cashflow, think of an asset that has money coming in on a monthly basis whether you work or not on that asset just like my friend as an example.. Yes, it may not work for everyone but like I said it really depends sa need sa community where you belong. Use your imagination..
-
kaya nga ayaw ng ibang pinoy ang pagbebreed ng aso, kasi nga 1st year walang kita. assuming na gaya ko from puppy ako nagsimula. laffman:: para ring stocks
-
RICH DAD / POOR DAD ???
-
Here is a nice video for this topic which explains why rich people become richer and poor people become poorer. It is the way how they spend their money.
[youtube]http://www.youtube.com/watch?v=zwcHTZo2G00[/youtube]
-
ang iba kasi MONEY COMES EASILY AND FREQUENTLY...
-
Ts, OT sya ? pero pa OT pa din, am just curious :-*
Guys, Would you give up $100 million a year to spend more time with your family?
PIMCO's Mohamed El-Erian's abrupt departure (http://www.worth.com/index.php?option=com_content&view=article&id=6722:father-and-daughter-reunion&catid=4:live). His daughter give him 22 reasons to quit his $100 Million a year job heading a *$2 trillion investment firm.
He explained:
About a year ago, I asked my daughter several times to do something -- brush her teeth, I think it was -- with no success. I reminded her that it was not so long ago that she would have immediately responded, and I wouldn’t have had to ask her multiple times; she would have known from my tone of voice that I was serious.
She asked me to wait a minute, went to her room and came back with a piece of paper. It was a list that she had compiled of her important events and activities that I had missed due to work commitments.
Talk about a wake-up call. The list contained 22 items, from her first day at school and first soccer match of the season to a parent-teacher meeting and a Halloween parade. And the school year wasn’t yet over.
I felt awful and got defensive: I had a good excuse for each missed event! Travel, important meetings, an urgent phone call, sudden to-do.
But it dawned on me that I was missing an infinitely more important point. As much as I could rationalize it -- as I had rationalized it -- my work-life balance had gotten way out of whack, and the imbalance was hurting my very special relationship with my daughter. I was not making nearly enough time for her.
Wowza. It's one thing to cut back on some hours, try to make one or two important events, but El-Erian decided to walk away from a $100 million a year job -- one that even had him rubbing elbows with President Obama.
Most bigwigs at this level would've brushed off their 10-year-old, or maybe patiently explained to them that they had to work so hard so that they could have all the nice things that they do. Instead, this guy quit his job that had him starting work at 1 o'clock in morning so that he could take his daughter to school in the morning.
hmm well,what he got in return is something money can't buy. ayt?
And As Tony Robbins said ,"there's only one word to really make you HAPPY---that is PROGRESS"(growth) and as far as i know nobody in their death beds had said "i wish i had work more and earn more" instead "they do wish they spent more time with their love ones" :D
-
madami na sila pera eh kaya nag give up na sila. hahahaha! kung wala silang pera i gigive up pa kaya yun? i don't think so. money can buy most happiness in the world like 8/10. and 2 don hindi nabibili.
-
Ts, OT sya ? pero pa OT pa din, am just curious :-*
Guys, Would you give up $100 million a year to spend more time with your family?
PIMCO's Mohamed El-Erian's abrupt departure (http://www.worth.com/index.php?option=com_content&view=article&id=6722:father-and-daughter-reunion&catid=4:live). His daughter give him 22 reasons to quit his $100 Million a year job heading a *$2 trillion investment firm.
He explained:
hmm well,what he got in return is something money can't buy. ayt?
And As Tony Robbins said ,"there's only one word to really make you HAPPY---that is PROGRESS"(growth) and as far as i know nobody in their death beds had said "i wish i had work more and earn more" instead "they do wish they spent more time with their love ones" :D
@FerminDaza - hello po as I understand sa question nyo po na "Would you rather give up the money to spend more time with your family?" correct me po if I'm wrong. In my opinion naman po sa scenario po kasi the money comes from an asset called "JOB". I am not against po sa job security pero in my experience na nag work for 6 years I can say po na depending yourself sa job security as your only source of income won't last because of 1. you can be fired anytime 2. wala kang time freedom to be with your family 3. andami mong e sacrifice kasi you choose that type of asset which is you "are working for money". There's a saying na "I would rather be happy than rich." but why not be both?
-
Maganda ang thread na to very knowledgeable. Pero as what the Subject of TS is referring "Asset vs Liabilities" Tingin ko mananalo jan Liabilities. Pero sabi nga nila sa tao pa din ang desisyon kung ano ang gugustuhin nila sa buhay nila. Gaya namin dito sa province magandang mag-invest sa mga hayop o di kaya sa mga palayan.
Share ko din ang magandang pangyayari sa buhay ng kaibigan ko mahirap lang din naman sila, nung una ang tatay niya nag-aalaga lang ng baka at kambing ng relatives nila na seaman then after na ang inaalagaan niyang Baka at kambing ay nanganak kinuha niya ang parti niya, to cut the story short mula doon sa parti niya na isa ay naparami niya ang mga baka at kambing niya then binenta niya almost half ng alaga niya para bumili ng lupa at nang magkaroon na sia ng sariling lupa ay dinagdagan niya ang hayop na inaalagaan niya (baboy, manok) hanggang sa makabili ulit ng lupa na may palayan... In short nakaalpas ang pamilya ng kaibigan ko sa kahirapan pero nananatili pa rin ang mga ari-arian na na-acquire nila. Ngayon may mga tauhan na sila at ang tatay niya pasupervise - supervise na lang hindi na nagpapakapagod.
Idagdag ko na din ang key para sa success dapat hardworking samahan mo na din ng humble wag maging mayabang.
-
...others just want something simple: like a biscuit :D
[youtube]http://www.youtube.com/watch?v=aPzD4AOVT2U[/youtube]
-
What must first be defined is one's own concept of wealth, as that would vary from person to person.. what is considered rich by me might be poor to others. Also, being wealthy and financialy independent does not necessarilly mean having a very high net worth. It simply means being able to have the life style you desire with enough earning asset to sustain it.
you must first know what kind of lifestyle you want to have. Do you really want to be filthy rich or do you want a rather simple yet comfortable life? Understand that there is no such thing as a "worry-free" asset. You will still have to "work" on it in one way or another and as the saying goes:
"the richer you are the more problems you'll have"
-
As a saying goes, “There are two kinds of money problems. Not enough money, and too much money. Which type of money problem do you want?â€
-
Don't feel guilty about wanting a better life and working hard to attain it, but also don't become guilty of sacrificing the most important things in life, your family, health, and integrity, to attain them. Because at the end of the day, money is only important if you can enjoy it with the ones you love and with a clear conscience.
-
As a saying goes, “There are two kinds of money problems. Not enough money, and too much money. Which type of money problem do you want?â€
No offense, Chevalier A7x, but as someone or another has undoubtedly said many times before me: "Why should I pick between two problems that I'm better off avoiding in the first place?"
-
No offense, Chevalier A7x, but as someone or another has undoubtedly said many times before me: "Why should I pick between two problems that I'm better off avoiding in the first place?"
Allow me to explain my point by reading my post here..its in business and economics section the title of the post is "Two Views of Money".
-
Allow me to explain my point by reading my post here..its in business and economics section the title of the post is "Two Views of Money".
Having read your post, I must point out that the author's own mentor said that not having enough money and having too much of it are both problems. If I have the resources and the ability to avoid being burdened by either of those problems, then I don't really need to choose between them, do I?
-
late reply
I'm very sickly
TS share is good for a 1990's economic view point and it is outdated to our current time
he discussed many billionaires like bill gates etc etc etc but he forgot the fact it is very different for saving and investing
bill gates and many other as we know they were undergraduates, never finished
but we need to lay the fact first
1. in America currently a 12 year old kid can programs anything from PHP or Java with ease he just read a book
2. In america there is a company called venture capitalist VC or micro venture capitalist (MVC), they are around 600 companies
what are VC?
sila yung namumuhan any people who want to invest they put it in a VC na wala sa Pinas take note wala sa pinas nito again wala sa pinas ang ganitong system
what happen
anyone who invents something a system, a software, a miracle drink or something they present it to the VC companies. and these VC will analize the product the viability, saleability, and productivity and fund it therefore magiging corporations sya at may share yung inventor this the reason napatalsik si Steve Jobs sa apple dahil hindi naman sya ang naglabas ng pera may share lang sila
kumikita ang isang company by selling and buying shares or called share outstanding commonly ang CEO ang gumagawa nito
wala kang ilalabas na pera ganyan sa states sa pinas maglalabas ka ng pera
syempre sasabihin iba ang mga Asian
ang suggestion ni TS is just to prepare you for emergency scenario it is too late for business. pwede syang business but not that big enough dahil madaming bully maraming gumagaya
example
nauso ang shawarna ang daming naglabasan ng shawarma
nauso ang buko ang daming naglabasan na buko station may buko house, buko station at maraming pang iba
-
napindot ko yung post
and mapapansin mo na rin di na uso proprietorship puro corporation na halos at merging ng mga companies kase alam nila napakamahal kung solo ka lang
na hindi ginagawa ng isang karaniwan tao
yung iba constant ang funding nila coming from abroad kaya nakakapag-take sila ng risk to invest a big investment
example ulit
Manny Villar hindi naman sya mayaman in the first place nakapag-asawa sya ng mayaman at ginamit ang pera ng asawa nya para makapasok sa politics easy money
Life coaches na tuturuan ka kunwari paano mag-ipon ganyan ganire at gagawin example ang buhay nila syempre yayaman ang mga yan biro mo nagbayad ka sa kanila na laway lang puhunan
sabi ng isang researcher the spending habit of a poor and the rich are the same. wala po silang pinag-kaiba iba lang ang price at brand
why richer gets richer
kase may coordination sila at organization magkakakilala ang mga yan they don't invest alone, they don't work alone and they can hire many consultant as they want. That why they were called corporation
why poor get poorer
imbes na mag-franchise kakalabanin ka nila that's the problem sisirain ka nila at kapag pumatok madami pang gagaya, in the end pareho-pareho kayong lugi at nagsisihan
-
Let me clear myself in posting this topic... This is just a guide and offers no guarantee just like the authors mentor who offered no guarantee but just guidance..all examples may not be applicable in each and everyone of us here since we all have come from different backgrounds..Just like in the Bible, all events happen in the past and the story happen in Israel but still we are reading it to give us guidance spiritually in our everyday life now its up to us to follow it or reject it. To answer BlueAlphaZero's question, I think you didn't understand what you have read. I apologize for saying this. Financial Education is a broad topic and I posted just a pinch of it for those who do not know not to debate our personal principles about money. In my opinion whether you admit it or not you have chosen "too much money problem" and let me explain why. Basically you don't have any issues with "not enough money" as you have stated. When I say "too much money problem" it doesn't literally mean that you have to have an overflowing money like bill gates or henry ford etc.. but "how long can you keep it" in order for you not to have "not enough money problem" in the future. Now you will be thinking to either save it in the bank or invest it to multiply etc. and that's a problem too since you will be asking yourself about what will you do with your money. Now if you still ask me if you need to chose between the two problems, you will still be getting the same answer from me. I hope I made myself clear.
-
To answer BlueAlphaZero's question, I think you didn't understand what you have read. I apologize for saying this. Financial Education is a broad topic and I posted just a pinch of it for those who do not know not to debate our personal principles about money. In my opinion whether you admit it or not you have chosen "too much money problem" and let me explain why. Basically you don't have any issues with "not enough money" as you have stated. When I say "too much money problem" it doesn't literally mean that you have to have an overflowing money like bill gates or henry ford etc.. but "how long can you keep it" in order for you not to have "not enough money problem" in the future. Now you will be thinking to either save it in the bank or invest it to multiply etc. and that's a problem too since you will be asking yourself about what will you do with your money. Now if you still ask me if you need to chose between the two problems, you will still be getting the same answer from me. I hope I made myself clear.
If I'm not much mistaken, Bill Gates found a way some years back wherein he can avoid problems of having too little money, too much money, and how long he can keep his money. I basically did the same thing (albeit on a more modest scale).
And truth be told, I don't really see how deciding what to do with my money should be another problem. Isn't that the object of these posts on financial education that you've been contributing as of late? So that we your Espiya brethren can better understand what to do with our money?
-
If I'm not much mistaken, Bill Gates found a way some years back wherein he can avoid problems of having too little money, too much money, and how long he can keep his money. I basically did the same thing (albeit on a more modest scale).
And truth be told, I don't really see how deciding what to do with my money should be another problem. Isn't that the object of these posts on financial education that you've been contributing as of late? So that we your Espiya brethren can better understand what to do with our money?
You must be confused. You see it as both negative thats why you're still asking me the same question. I see it as one negative and one positive. Sometimes the issue why we are still trapped with traditional beliefs about money because alot of us only see just one side of the coin..but if we open our eyes and our minds then we will start to see the other side of the coin.
-
You must be confused. You see it as both negative thats why you're still asking me the same question. I see it as one negative and one positive. Sometimes the issue why we are still trapped with traditional beliefs about money because alot of us only see just one side of the coin..but if we open our eyes and our minds then we will start to see the other side of the coin.
Perhaps I am confused. It would seem that the word "problem" as used in the context of Robert Kiyosaki's writings and in the context of this discussion doesn't have the same meaning as it usually does.
I will agree with you on one point, Chevalier: one of those two "problems" is positive. But in truth, both those instances can be positive for those with open eyes and minds (as you put it yourself). Having learned that from those wiser than myself, I was able to chart a course between both ends of the money spectrum that has served me well to this day.
-
Paris Hilton's formula to success (https://twitter.com/ParisHilton/status/516696874326441985)-
(http://i57.tinypic.com/161n7sw.png)
...and the biscuits gurl formula to success-
(http://i59.tinypic.com/33yt46f.png)
::laffman
-
Try nyo mag aim global! Small pottential big income!!
-
very interesting thread... there are lots to be learned in the exchange of ideas... i'll interpret this in a typical filipino life...
well based on my experience the reason is very simple on why this is happening... it is the basic reason that the rich have more and that the poor has almost none... to cite an example,
a. the rich have more to invest and spend meaning they can venture and look for other source of income since the needs of their families which includes food, shelter and clothing are met.. their assets are far greater than their liabilities..
b. the poor have almost none meaning what they earn sometimes even isn't enough to meet their basic requirements to live comfortably... the law of hand to mouth is what is their reality.. their liabilities are far greater than their assets...
i have seen this personally for so many years that's why i am able to say this... and i can justify that most of these people are working hard in order that they may improve their lives... but for me unless by a stroke of luck or divine intervention like winning in lotto, it will be very hard for them to uplift their lives at this generation...
this for me is the simple fact... although education and knowledge of financial strategies are an advantage in today's life, it will still boil down on how liquid are you to be able to improve your life...