hearts beating faster, faster

Some real life encounter shit, quite meaningful.

Some of you may already know that I(Adam Khoo) travel around the region pretty
frequently, having to visit and conduct seminars at my offices in Malaysia,
Indonesia, Thailand and Su Zhou (China). I am in the airport almost every
other week so I get to bump into many people who have attended my seminars
or have read my books.

Recently, someone came up to me on a plane to KL and looked rather shocked.
He asked, 'How come a millionaire like you is travelling economy?' My reply
was, 'That's why I am a millionaire.' He still looked pretty confused. This
again confirms that greatest lie ever told about wealth (which I wrote
about in my latest book 'Secrets of Self Made Millionaires'). Many people
have been brainwashed to think that millionaires have to wear Gucci, Hugo
Boss, Rolex etc… (I shop at G2000 by the way) and sit on first class in air
travel. This is why so many people never become rich because the moment
that earn more money, they think that it is only natural that they spend
more, putting them back to square one.

The truth is that most self-made millionaires (not those lucky bast**ds who
inherited money) 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 Organization) 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 worths well over $5m, travelled
ecomony class and some even drove Toyota's and Nissans. 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 (oh no…I sound like Kiyosaki) foresaw
this terrible possibility and refused to give me a cent to start my
business.

Then some people ask me, 'What is the point in making so much money if you
don't enjoy it?' The thing is that I don't really find happiness in buying
branded clothes, jewelry 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 give 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.

Instead, what make ME happy is when I see my children laughing and playing
and learning so fast. What makes me happy is when I see by 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. What
makes me really happy is reading all your wonderful posts about how this
BLOG is inspiring you.This happiness makes me feel really good for a long
time, much much more than what a Rolex would do for me.

I think the point I want to put across is that happiness must come from
doing your life's work (be in teaching, building homes, designing, trading,
winning tournaments etc…) and the money that comes is only a by-product. If
you hate what you are doing and rely on the money you earn to make you
happy by buying stuff, then I think that you are living a life no better
than a prostitute.

August 9, 2006 | By Adam Khoo In Money