How to get rich?

How to get rich?



1.   Stop thinking about getting rich. Marry rich people easier solution.

2.   Increase employment income - What you can do:

      a)    Enhance earning capacity
      b)    Be hardworking
      c)    Invest in oneself for future potential
      d)    Improve knowledge
          
             i)    legal knowledge
             ii)   language
             iii)  general knowledge (common sense)

3.   Network and contacts - join associations, friends, clients, sports.

      a)    Make friends when you don't need them
      b)    Think of how to make them think highly of you

4.    Investment income - Let your money work for you or find talented people to work for you

       a)    Invest your money and time
       b)    Instruments:
              i)   FD - 3 to 4%
              ii)  Amanah Saham Bumiputra - 8-10%
              iii) Amanah Saham Wawasan - 6-8%
              iv) property - 20%
              v) unit trusts
              vi) stocks
              vii) closed end fund: iCapital

5.    Examples of investment in unit trust

       a)    PGF - RM2,700 on 25.10.2000. Now RM7,901.32 @ 7.73% compound
       b)    SmallCap - RM2,900 on 13.6.2000. Now RM18,042.87 @ 13.19% compound

6.    You need to understand instruments

       a)    Attend seminars, talks
       b)    Free lectures - briefing by bank officers
       c)    Read Star BizWeek, The Edge, Fortune etc – understand economic trend

7.    Choose companies:

       a)   Toll bridge: myeg
       b)   Monopoly: TNB, Telekom, Genting
       c)   Duopoly: ?
       d)   Oligopoly: Telcos, gaming stocks
       e)   Banks
       f)    Starbucks, Old Town

8.   Take action:

      a)   Take first step - open a share trading account
      b)   Need to prepare before you make first investment