ADAM KHOO

MONEY IS ONLY A BY- PRODUCT. -- J K SIVAN

Going through my notes in an old blue color diary I found this. I read about a great person, a Singaporean, and made some notes on him which I repeat here.

It would be interesting to know about Mr. Adam Khoo, a successfull businessman, who was Singapore 's youngest millionaire, as he was aged only 26 yrs. Singapore though small in size and has no natural resources like India, is one of the leading and richest country well governed by its own people. The citizens of Singapore are disciplined and hard working and are known to be prosperous and kind because of the government bringing up in such manner.

Adam Khoo, travelled around the SE Asian region frequently conducting seminars at his offices in Malaysia , Indonesia , Thailand and Suzhou ( China ).Being a frequent traveller he met many people who attended the seminars or read his books.

One day someone who travelled with him by air, to Kulala Lumpur, Malaysia, and looked rather shocked.

The fellow passenger in the Economy Class in which Adam Khoo travelled asked him

'Your face is very familiar, May I know about you?''

''I am from Singapore. I am a business man''

''Is it by any chance that you are Mr Adam Khoo''?'

''You are right''

''Oh I am quite surprised'' exclaimed the fellow passenger.

''Why is it?' asked Adam Khoo

''I am wondering, how come the richest, millionaire like you , are traveling by economy class?'

Khoo replied: 'That's why I am a millionaire. '

Adam Khoo has written a book named 'Secrets of Self-Made Millionaires' in which Khoo says :

''Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex, and sit on first class in air travel. This is why so many people never become rich because the moment they earn more money, they think that it is only natural that they spend more, putting them back to square one. Most self-made millionaires are frugal and only spend on what is necessary and of value. That is why they are able to accumulate and multiply their wealth so much faster.

Over the last 7 years, I have saved about 80% of my income while today I save only about 60% (because I have my wife, mother in law, 2 maids, 2 kids, etc. to support). Still, it is way above most people who save 10% of their income (if they are lucky).

I refuse to buy a first class ticket or to buy a $ 300 shirt because I think that it is a complete waste of money. However, I happily pay $1,300 to send my 2-year old daughter to Julia Gabriel Speech and Drama without thinking twice.

When I joined the YEO (Young Entrepreneur's Organisation ) a few years back (YEO is an exclusive club open to those who are under 40 and make over $1m a year in their own business), I discovered that those who were self-made thought like me. Many of them with net worth well over $5 m, travelled economy class and some even drove Toyotas and Nissans, not Audis, Mercs, BMWs..

I noticed that it was only those who never had to work hard to build their own wealth (there were also a few ministers' and tycoons' sons in the club) who spent like there was no tomorrow. Somehow, when you did not have to build everything from scratch, you do not really value money. This is precisely the reason why a family's wealth (no matter how much) rarely lasts past the third generation*

Thank God my rich dad foresaw this terrible possibility and refused to give me a cent to start my business.

Some people asked Khoo , 'What is the point in making so much money if you don't enjoy it?'

'' I don't really find happiness in buying branded clothes, jewellery or sitting first class. Even if buying something makes me happy it is only for a while, it does not last. Material happiness never lasts, it just gives you a quick fix. After a while you feel lousy again and have to buy the next thing which you think will make you happy. I always think that if you need material things to make you happy, then you live a pretty sad and unfulfilled life..when I see my children laughing and playing and learning so fast. What makes me happy is when I see my companies and trainers reaching more and more people every year in so many more countries.

What makes me really happy is when I read all the emails about how my books and seminars have touched and inspired someone's life.

Happiness must come from doing your life's work (be it teaching, building homes, designing, trading, winning tournaments,''

++

My dear friends, for my part, I am happy and believe that my time is well spent in reading and posting good articles on interesting topics which I believe will be liked by my friends, the readers of FB, and benefit them and expect them to pass on the benefit to others as well. do-- j.k. sivan