Power of Money by Adam Khoo Singapore ‘s youngest millionaire
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| Yachts at Docklands – Melbourne |
So many times, we think that, if only I had more money, I would have been happier. In fact, it is a very hard to understand fact that, money does not bring happiness. You cannot buy Happiness with money. Yes, money can buy you all those things that might give you comforts, security but not the happiness itself. One might be the world’s richest person have a thirty-bedroom house, twenty cars and a private jet but, it doesn’t mean that he is happy. It is said that Happiness is the state of mind created by positive and good emotions. And, the state of mind depends on some of the external factors like the weather, environment, people around or internal factors like feelings of low or high, moods like anger, depending on the personality of an individual. In fact, there are so many research studies conducted which studied the happiness levels of different people and concluded that, money can buy you free time, satisfaction of helping someone in need which in turn might make you happy. But, beyond certain middle class income meeting the basic needs, money does not bring the happiness in the proportion it is accumulated. For, example a Millionaire is not Million times happier than a normal person. And, this is what had been told by all the wise people in all the world religious books, from Zen’s to the Saints.
However, when people hear or read of these things might have things to comment like, the Story of a Fox and the Sour Grapes. Because, you don’t have, you consider money like a fox, which tried to reach the grapes hanging on a vine, could not reach them and finally declared that, the grapes are not worth trying for because, they are Sour. That is when, the words from these people like Adam Khoo comes as a real testimony. Here is an interesting article by Adam Khoo who is an entrepreneur, a bestselling author and a peak performance trainer. A self-made millionaire by the age of 26, he owns and runs three businesses with a combined annual turnover of $20m. He is the Chief Executive Officer of Adam Khoo Learning Technologies Group Pte Ltd, one of Asia’s Largest Public Training Companies and Education Group. He is also the Managing Director of Adcom Pte Ltd, an advertising agency and the co-founder of Event Gurus Pte Ltd, an event management company. Let’s read what are his thoughts and comments about Money, Happiness and how to lead a sane life. I liked his straight forwardness, honesty in expressing his true feelings and giving insights to his world of a millionaire.
As you can read, it’s not the money that make him happy but, the character, vales, life style and life choices that makes him happy.
“Some of you may already know that I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia, Indonesia, Thailand and Suzhou (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 traveling 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, 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.
The truth is that 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.
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, 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…
Instead, *what makes me happy is*
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.
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 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 it teaching, building homes, designing, trading, winning tournaments etc.) *and the money that comes is only a by-product”.
P.S :- Why I posted this picture of a Yachts ? Because, over the weekend I went on a Boat Cruise along the river Yarra (Docklands Melbourne) with some of my friends. And, one of my friend looked at these Yachts in the water and told me that his Boss, recently bought a similar one recently. And, he told me ” He is actually so busy, always on the move travelling, not sure if he ever gets some time to actually drive his Yacht”.
