Money 02 (Jun 10 - Sep 11)

[LenaHuat]

There are 2 fundamental differences between the Boston Wealth Consulting and Merrill Lynch Wealth Mgmt:-
(1) Boston's findings is 11.4% of the households are millionaire households.
If there are 1.2 million households, then 11.4% is 136,800 households.
Merrill Lynch's finding is that there are 81,000 millionaires (strictly HNWIs) here.

(2) Boston Wealth's definition of a "millionaire" household excludes all real estate and properties like art pieces. Merrill Lynch uses the more conventional defintion of "High Net Worth Individuals", being someone with net assets of at least US$1 million, excluding his main residence and everyday possessions.

In the wealth mgmt industry, HNWIs is generally more commonly used.

[Chinaman]

“Millionaire” means :
(i) An Individual — whose net personal assets exceed in value $1 million (or its equivalent in a foreign currency), properties, stocks, FD,CPF, bond, commodities, insurance, cash, etc.

Take note, if assets under joint names then you need to divide by 2, usually the case in property and bank account. The word ‘Net’ mean less liabilities and exclude own stay property
The above criteria is the real meaning of Millionaire, and I am very sure many forummers here are oreli one of the 81k…hehe.

As such, my view is aligned with the ST's number of 81,000 millionaires, this represents just 1.8% of our total population of 4.5 million! I think the ans is clear by now….1 is referring to Individual and the other is referring to Household.

Btw, many ppl become millionaire overnight when the property they own goes enbloc.

[winston]

What I Learned From A Chinese Billionaire by Shaun Rein

He taught me the basic principles he relied on to go from grinding poverty to enormous wealth.

In the last decade more new billionaires emerged in China than anywhere else in the world. There are now at least 79 Chinese billionaires. China's rich are fueling the country's 15% annual growth in luxury sales, which have reached $9 billion a year, making the country the world's second largest market for top-end products.

You can wait a year for a new Ferrari in China. Porsche launched its Panamera sedan there before it did so in the U.S. Long lines often stretch outside Louis Vuitton and Hermès stores.

Who are the superrich Chinese? What are they like? How did they get so wealthy?

http://www.forbes.com/2010/06/28/chines ... -rein.html

[winston]

Money - From Anxiety to Purposeful Abundance by Lauren Larsen

Everyone knows the proverb that money makes the world go around. Given how most of us feel about money, this may be only a slight exaggeration. The task of earning and managing money dominates many of our waking hours and our personal relationships are often affected by the intense emotion associated with it.

Exploring money and how we relate to it, therefore, feels somewhat like bringing up an uncomfortable topic at a dinner party.

Why bother discussing it then? Simply put, understanding the principles of money can help you manage your physical, mental and spiritual health.

Money is energy. Each dollar, nickel or penny in your pocket represents a unit of energy, specifically the energy you invested to earn it. You can use that unit of energy to get the things you want and need, things in which other people invested their energy to produce. This energetic nature of money is clearly evident in its development.

The money we earn can serve as an excellent barometer of our current energy conditions. The emotions we experience as we work are stored not just in our bodies, but also in the money we earn. The value of the money we possess infuses with the emotional energy experienced as we earn it.

If we hate what we do for a living, our earnings stand for kind of sacrifice. Every paycheck seems diminished because the work never seems equal to the effort. In contrast, when we love what we do, the money takes on very little extra meaning.. it is just money.

Of course, whether earned in suffering or joy, that money does represent a certain value in society. The money we bring in and accumulate allows us to purchase goods and services. We may have positive or negative feelings about the amount of money we have stored, depending on the lifestyle we desire.

The more expensive our target lifestyle, the stronger our feelings about our monetary worth will be and the more intense our feelings if dissatisfaction will be if our earnings do not allow us to afford the lifestyle we desire.

However, we can learn to generate and accumulate money in a way that empowers us. The key is to have a clear and realistic purpose with regard to earning and saving money. Money, like Ki-energy, must circulate to remain healthy. It can be accumulated and stored to increase power. But if must be used or else it will stagnate.

To use money does not mean to simply spend it, but rather to invest it. Investing some of your money towards the fulfillment of your life goals keeps it circulating and gathering value.

Ask yourself, “What is the purpose of earning money? Why do I need money?” Draw a clear relationship between money and how you plan to attain your specific goals. As you may have experienced, there are many times when the purpose of earning money is not clear to you as you thought.

Money is not an extension of our identity. If we begin to equate our self-worth with our monetary worth, we create a false sense of self. The key is to realize that our true selves are far more powerful than any amount if status gained through money, and that money is simply an energetic tool to be used for the creation of a purposeful life.

Just as we can break the connection between our identity and our earnings by investing in the fulfillment of our life goals, we can dissipate the undercurrent of fear in our transactions by making sure our regular expenses do not exceed our regular income. This is commonly called budgeting.

For a budget to reduce anxiety, it must not be designed out the same fear already connected to how you spend money. The start of this process is very simple, just pay at least as much attention to the energy half of your transactions as you do the monetary half.

You have already taken the first step; the awakening that money is energy. With this insight, practice paying attention to how you feel when you deal with money. Continue watching until you can see your behaviors, actions, and feelings around money.

For the sake of your budget, write them down. Record how you actually spend your money and what you feel during each transaction. Then comes the hard part, accept. Without judgment, accept that this record of your expenses reflects your current spending habits and the emotional attachments related to them. Once you have completely exposed your relationship to how you spend your money, you can choose with confidence how you want to spend it going forward.

Ultimately the goal here of exploring money as energy is not just about improving our relationship with money; it is about empowering ourselves to create more fulfilling lives. The missing link between a renewed awareness of money’s energetic nature and living a more fulfilling life understands the source of the fears surrounding money. All of our fears around money are based on a simple, yet powerful belief, that the resources of the world are scarce, that there is not enough for everyone.

The catch is that it is hard to truly live in abundance with habits formed in scarcity. The tendency to hoard money rather than gather and circulate it is the biggest of these habits. Look again at your attitudes toward earning, saving and spending money and see if a belief in scarcity helps explain any anxiety you feel. The biggest paradox with the philosophy of a scarcity is that it is a self-fulfilling one.

The fear of not having enough leads people to take more than they need and to hoard energy in all forms, which leads to the uneven distribution of wealth that plagues our world.

Once you remove this anxiety, and the related impulse to hoard, you can feel confident in using and consuming just enough. The moment you feel you or your family might go without, the urge to hoard arises immediately. Resist the urge and practice instead the techniques of money management based on the principles of energy.

If you pay attention to your body and your soul, you will know when you have enough, in any given energy transaction. Living so that you use and consume only as much as you need to fulfill your commitments and life goals begins to create abundance.

As more and more of us subscribe to the belief in abundance, and manage our consumption accordingly, we will ensure that there is enough for everyone. As you master living in abundance, you will find that your capacity for peace, joy and fulfillment will expand.

http://www.selfgrowth.com/articles/mone ... -abundance

[winston]

Some say that you should not want money at all because the desire for money is materialistic and not Spiritual. But we want you to remember that you are here in this very physical world where Spirit has materialized.

You cannot separate yourself from the aspect of yourself that is Spiritual, and while you are here in these bodies, you cannot separate yourselves from that which is physical or material.

All of the magnificent things of a physical nature that are surrounding you are Spiritual in nature.

--- Abraham

Excerpted from the book "Money and the Law of Attraction: Learning to Attract Health, Wealth and Happiness" #497

[winston]

Don’t Wait for the Money by Jeanna Gabellini

It’s normal to put off things in life until you have the money to do them. But does it have to be that way?
Absolutely not!

Never wait until the money shows up or you’ll spend most of your time waiting. And while you wait, you’ll be thinking about many things for which you are waiting.

You’ve got to make a decision to have what you want now. Then, the money will show up or you’ll be able to enjoy what you wanted in a way you hadn’t expected.

There have been many times in my life when the money to travel was not present in my life. Yet, my desire to travel was always burning. Once I learned that the Universe responds to my decisions, I made the decision to always find a way to travel. And I have.

. Here are some of the ways I was supported in traveling without creating financial debt to do it: .
• Friends and family invited me to stay at their vacation homes.
• When I made airplane reservations, I got unexpected deals.
• I was upgraded in hotels and airline seats without even requesting it.
• My mom shared her timeshare with me.
• I created ideal trips to places where I had friends with who I could stay.
• I got new clients within a week of deciding to take a trip.
• I found ways to experience my desires right here in the state in which I live.

Once you make a decision to have whatever it is you want, the way to have it reveals itself quickly. Making a decision may seem a bit crazy when the money isn’t there, but it is exactly this process that brings the prosperity to you.

Yes, . it takes faith that you will find a way to have what you want. . The cool part is that you don’t always need to figure out how you do it before you make the decision.

I remember deciding to buy my BMW M3. I didn’t have a clue how to come up with the down payment for the car, but I felt that the car was already mine when I left the dealership and decided to think about a way to create the money. Within 24 hours I knew how to get the car and within a month I created the down payment from “nowhere.”

Up to that point in my life, I’d never created that much money in such a short time and so spontaneously. . The decision to buy the car. drew the money to me like bees to honey. It was easy. I wasn’t scared about finding a way to buy the car. I was simply excited to have the car.

Decisions are solid, unlike a wish. . What do you need to make a decision about? .

http://www.selfgrowth.com/articles/don- ... -the-money

[winston]

Revealed At Last -- The Law Of Manifestation! by Felicia Fillmore

A lot of people may learn about the law of manifestation (also known as the law of attraction) and want to know how they can use it in their lives. It's misunderstood by some as some sort of magic, and by others as a hoax.

The core idea behind the law of manifestation is: thoughts become things.

This is also the source of the confusion.

Manifesting financial wealth, for instance, may seem to be as simple as imagining checks arriving daily by first-class mail.So you strenuously imagine your postal carrier straining under the weight of immense sacks of mail containing hundreds, even thousands of envelopes, each containing money for you! The more time and effort you put into this, the more money you should see, so you spend a few weeks at it, or even months.

So after all that time imagining, nothing happened - not only didn't the mailbox overflow, not even a single "manifested" check arrived. What happened?

At its most basic, money doesn't just come when called. The law of manifestation doesn't repeal the basic law of economics: wealth must be earned.

If you want to get money, the law of manifestation will help you set yourself up for it. Thinking a great deal about money will heighten your sensitivity to money-making opportunities.

Your focus on money will become a "prism" through which you view the daily events of your life, so that when you see a vacant lot, you'll think about how you could make money there, or when you see a broken-down house, you wonder if you could buy it, fix it up and sell it for a profit.

Now, these things didn't just appear because you were thinking about money, you became aware of them because of your heightened sensitivity to money.You just weren’t paying attention to them. The amount of information we're confronted with every minute of every day is almost impossible to quantify, and we concentrate only on that information we think is important.

Think about it - can you remember the color of the car you parked next to the last time you went to the store? Or the color of your next-door neighbor's shirt the last time you saw him?We can only pay attention to so much stuff and we just filter everything else out.

It's this concentrating on a desire or an intention that suddenly opens our eyes to ways we can make that desire come true, even when seeing things we've been seeing every day! The law of manifestation works like that: when you concentrate on getting a thing, ways of doing so manifest themselves to you as a result of your focusing on it.

Around the time I got my first car, a blue Toyota Corolla, I suddenly started to see blue Toyota Corollas everywhere I went. Now the cars were probably there whizzing around me the whole time, but it wasn’t until I dialed into the “Toyota Corolla wavelength” that I started to see them everywhere.

I was focusing on Toyota Corollas, but it didn’t make one magically fall out of the sky into my driveway. I still had to take action and go out and buy one. I could have tried to find a contest to win one, I guess, but at the time, that didn’t occur to me.

For just about anything you can need, it works pretty much the same way.So if you want a new car, concentrate on new cars. The law of manifestation will present you with plenty of opportunities to make a good buying decision, even if it doesn't park a new car in your driveway!

The law of manifestation isn't the only universal law that you can put to work for you, and some, like the laws of vibration and abundance, can help you use the law of manifestation more successfully.When you master all of them, then you can use them in concert and seemingly make magic in your life.

http://www.selfgrowth.com/articles/reve ... ifestation

[winston]

Poverty is a disease in the subtle DNA. To change subtle DNA, each day eat a small bit of ginger root dipped in honey. This is practical.
~ Dr. Pillai

[winston]

"The richest person is the one who is contented with what he has."
~Robert C. Savage

[b0rderc0llie]

T. Harv Eker is the best-selling author of “Secrets of the Millionaire Mind”

That is my favourite book about money.

Now my favourite book is "The monk who sold his Ferrari" by Robin S Sharma.

Found T. Harv Eker's talk on youtube. About 60 mins of it.

http://www.youtube.com/watch?v=mcAGTYVY ... re=related