People are getting more health-conscious nowadays. Their growing expenditures on gym memberships, fitness equipment, health supplements, organic foods, etc. are testament to this fact. Surely, it’s not difficult for you to find health-conscious colleagues and friends around you. While people are concerned about their physical health, they don’t really pay much attention to their financial health. Most people don’t have the habit of conducting regular financial health checks for themselves. They simply don't care, or don’t really know how to and where to start.
Recently, I was going through my financial statements and realized that in 2011, I incurred expenses of more than $1 million dollars in cash within 11 months! Now, you must be wondering whether I had been jet-setting around the world, purchased a sparkling new Lamborghini, or bought an exotic holiday home. No, no, no, I did none of these! I spent the money on another 3 new investment properties to expand my property portfolio instead.
Am I crazy? Well, I didn’t regret my decision as all the 3 properties have appreciated in value since with a combined value in excess of $2.85 million. What’s more, the additional properties have been generating good rental yields for me since 2011. Would you call anyone crazy if he or she spends a million today for an asset that brings you cash flow and could increase significantly in value in the future? You probably would invest every cent that you have on that asset, wouldn’t you? However, no one has a crystal ball to tell if a property would rise in value or would fetch good rental returns in the future. The truth is that many people get burnt in buying investment properties. Really, most people don’t make it in real estate investing. They don’t succeed in making money out of their properties as they are not doing the things that should be done, and the reason is they don’t know what should be done in the first place!
Property prices in Singapore have been rising rapidly for the last few years. Investors’ sentiments on local properties remained upbeat even after 8 rounds of cooling measures implemented by the government. While the latest round of cooling measure (announced by the Monetary Authority of Singapore on 28 June 2013) has taken a toll on property transaction volume, the demand for Singapore properties remain strong.
We are currently at the peak of the Singapore property cycle since 1965, with residential property prices at an all-time high. Despite the sky-high prices, there are no shortages of investors snapping up local properties. These investors are now paying for prices many years ahead, making it near impossible to have decent investment returns. Many are still buying and hoping to cash out the capital gains on their properties within the next 3-5 years. So, are these buyers investing or are they gambling?
Who wants to be a millionaire? The answer has to be a resounding yes, except for the billionaires of course! Honestly, who in their right mind don’t want to be rich? But can ordinary people become millionaires? I believe with the correct mindset, attitude and commitment to reach their desired financial goals, the chances for ordinary people becoming millionaires are high. My wife and I would definitely attest to this fact. Here’s our story…
Does God really exist? This is a question that everyone should ask as the existence of God has enormous implications on our lives and destinies. If God does not exist, not only would our lives become meaningless, we would also ultimately end in death. In such a scenario, it doesn't matter anymore how we live our lives; there would be no hope for deliverance from evil, aging, disease and ultimately, death. However, if God does exist, life will have a whole new meaning because there will be hope and redemption. We would then be able to know God and His love for us in a personal way. God's existence will thus make a tremendous life-changing difference for us!
The following story, one of the best that I've read, explains the existence of God...
During the seminars that I have conducted in the past, I would sometimes ask my participants: “What attitude have you brought here today?” Very often, I received puzzled looks from the audience. Not surprising though, because most people don’t really have a high level of attitude awareness. I'm inspired by Nick Vujicic when I read about his story many years ago. His positive attitude towards life touches me in a great way, and has transformed my perspective on attitude.
Success is something most people strive for. Most of us aspire to live a happy, wealthy and successful life, don’t we? Many people want to experience success in their life, but it’s easier said than done. With so many distractions surrounding all of us, it can be extremely challenging to remain focus on pursuing our dreams and desires. The truth is that very few in the world would actually achieve true success in their life. However, there are time-tested actions and attitudes that people follow to achieve success.
You wish to become a millionaire one day, don't you? But how? While winning the lottery is one way (my advice is don’t bet on it), I'm sure the chances of you becoming a millionaire in other sensible ways are higher. Some people work hard to climb up the corporate ladder to earn their million-dollar salaries, while others work hard to build their million-dollar businesses. There are also people who achieve massive financial success through investing in stocks, investing in properties, setting up online businesses, writing books, developing software, and inventing new products for commercialization. The list of possibilities is endless.
Kelvin Wong is a millionaire investor, author, and landlord in 3 countries. He currently owns a multi-million dollar property portfolio in Singapore, Australia and Malaysia. With his assets generating multiple streams of income to sustain his desired lifestyle, Kelvin became financially free at 39. He holds a Bachelor of Business (Dean's List) degree and a Diploma in Business Management. Kelvin writes about building wealth and achieving financial freedom in his free time.
Copyright © 2011 Kelvin Wong
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