Tuesday, July 27, 2010

Think like the rich

If you pass all the money of the affluent to the middle class and the poor, who would have it in 20 years? The answer is the rich and most of their wealth will be back with interest. The rich are not smarter or more deserved; they just know how to recover it. The rich tend to do a better job of managing what they accumulated. Learn to think and invest like the rich, then let time provide the transportation to bring you to your wealthier future. You will be wealthier over time if you make time your friend, not your enemy. It’s not the honey, money or talent that makes the rich wealthy. It’s the way they think about financial matters that make their capital grow.

The number-one retirement plan in Singapore is to win the next TOTO or 4D. Consumers spend more time packing undergarments for a weekend getaways or vacations than they do planning for their financial futures. Are you racing towards retirement faster than the rate your retirement savings is growing?

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