Becoming a millionaire at age of 45 is not a dream

Read an interesting article on the above topic on MyPaper.

The writer achieved his first million at age of 39 and he shared with us a few of his secrets which I think that it's more realistic for most of "commoners" like us. Rather than like Adam Khoo and Merry Riana, who are the fews who achieved theirs at 26!! They are those whom I called extraordinary ones who possess great business minds and determination... =)

His secrets:
:: Saving 20% of your income.
:: Buy your house according to what you can afford. It should not exceed 35% of your income. Don't monkey see monkey do. People buy condo, you also buy condo knowing that paying the instalment is killing you.
:: Remember to have at least 6 mths expenses worth of emergency fund in cash.
:: Don't be blinded by materialism and luxury desire.
:: Lastly and most importantly, know how to invest your money. Let your money grow money. =)


I don't have that great hopes to achieve millions...haaa but it doesn't hurt to dream about it since it's FREE..but I do believe strongly in financial planning as I don't want to slog for rest of my life.

Imagine this...
One day I will get old and become expensive for employers to hire. There are many young graduates out there thirsty for knowledge and money, waiting to replace you at a cheaper price. And me, I have my old parents and children waiting for me and my husband to feed them. No matter what happened, I have to bear with all "sufferings" at work as I need the job and I know that at a middle age, either you are overexperienced and expensive to hire or you are not able to accept a much lower pay. Though you have the experience and have worked for the same company for over 20+ years, but c'mon nobody is indispensable!! When the economy is down, perhaps you be the first in the "to be retrenched" list. I may sound persimistic here. But it's a very common situation now, you can't say it is not going to happen to yourself.

Well something to ponder...at least worry now than worry when it happens one day.