Prince Alwaleed on Staying Rich and Fit (Prestige New York Magazine)

Want to stay rich and fit Prince Alwaleed’s style? Have a look at this article here.

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Treading the walk of financial freedom alone

The journey of wealth creation can be fascinating and exhilarating, though sometimes it can be tiring and frustrating. Being alone in the journey can sometimes be rather de-motivating. Let’s face it, we’re human beings. It can be hard at times to keep us focussed on our objectives.

If one has a partner or partners to share the journey with, the journey itself would be more interesting. They can learn from each other and they can even motivate each other.

Even better, in that journey, you have formed yourself a husband-and-wife team (or boyfriend-and-girlfriend team for that matter). You now have a full-time partner to assist you in your investments and businesses. Things will be much easier.

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How to accumulate capital for business or investments

Everybody knows that to start a business or to start investing, you need capital (in Bahasa Melayu, modal). This issue of finding capital to start with is also one of the reasons why many people do not invest nor save nor start a business.

Do these excuses apply to you:

1. “I have no savings at all to buy unit trusts”
2. “What’s left over from my salary at the end of the month is so meagre that I shouldn’t be bothering about investing.”
3. “Invest? Business? Are you kidding me? I barely have enough money to keep myself going.”

To start, let’s make it clear. There will never be enough money to invest or even form a business. However, we, humans, the breadwinner, have the power. We are the decision-makers. The issue of “not having enough money” is only in our minds.

The solution is simple. Make sure there’s enough money to plow into investments/businesses. How? Use the thing that sits between the tight few inches between our ears, my dad says. In other words, use our brain. Be creative.

If you are working and rely on your salary, try working out your budget. Try cutting down things that are unnecessary. Make sure your inflows are much more than your outflows. Don’t even be tempted to load up your credit cards. Bad debts are bad. Money will be enough if you make it enough. Cut down on those luxuries. Hey, who said journey of wealth creation is easy?

If it’s still not enough, then it’s time to get creative!

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It’s official! Nadlique is now financially free!

With an investment of only AUD15, I am now officially a ten trillionaire! Look at the picture below as a proof.
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An Interesting Experience with a Malaysian Insurance Company

A few years ago, my parents and I went to the office of a Malaysian insurance company for a renewal.

Let’s start with why we went in the first place. It started when I asked my mum a few nights earlier about insurance. She then went to check the insurance policies and found out that they had expired. The thing is, this insurance company did not even bother to send renewal reminders. I mean, what sort of business are they running? Not bothering to send renewal reminders to customers translate into people forgetting to renew their insurance which translates into no money going into the company’s bank account.

In our insurance policies also, there were some mistakes. Under the beneficiary section, there was some random dude listed there. Somebody that we don’t even know. My mum had in fact called the insurance company a long time ago and they said “yeah yeah, we’ll change it right away.” At the office, we found out, the random fellow’s name is still there. So, what happens then if something happened to one of us (i.e my parents and I) ? Who’ll be getting the payout?

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Nadlique’s Blog of Financial Freedom featured in The Malay Mail

Nadlique’s Blog of Financial Freedom was featured in a Malaysian newspaper, The Malay Mail. Have a read of the feature here.

A huge thanks to Gabey Goh for that.

Click here for the feature.

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Sponsoring a Child: Will it make any difference (PLAN Australia)?

There’s one charity organisation that I like here in Australia. The name of the organisation is PLAN Australia.

PLAN Australia exists to combat poverty around the world. One thing that I like about PLAN Australia is that they don’t discriminate people based on their religion or political beliefs.

One of the programs that they have is the child sponsorship program. With just around AUD43 per month, you will be funding the well being of a child and his/her community.

What do you guys reckon? Can sponsoring a child really make a difference?

Share your thoughts below.

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How to utilise one’s life?

If you were going to spend a mighty proportion of your life doing something, would you rather be doing something that you like and passionate about even if you need to be facing some extra hardships and pain?

Perhaps choosing what you like doesn’t apply at all? Perhaps choosing the most stable and safest option is the way to go?

One might argue that we need to make some sacrifices in our lives and we are sometimes faced with the challenge of not being able to do what we want to do. However, the need to go through the hardships and pain in the pursuance of your passion is a sacrifice in itself, no?

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The importance of financial education

I think I wrote about this before but it’s okay, I’ll talk about it again. Hopefully, it can also remind myself of the importance of financial education.

I’m always an opponent of the notion of “giving away money for free”. It’s fine to hand out money to a financially intelligent person as I am confident that they’ll be able to expand their wealth using that initial capital but I am less confident if it was a person with lack of financial education.

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Is Multi-Level-Marketing (MLM) all that bad?

There’s a post about Multi Level Marketing (MLM) that I wrote before. Generally, I’m not really into the whole MLM business (though this could change in the future), as you can see in that post. However I do see quite a lot of merits with MLM.

1. Ability to Network

In the MLM business, you get to meet a lot of people from different walks of life. By doing this, you’re establishing a vast network of business contacts that can be utilised in your future undertakings. Contrast this with stock trading (one of the activities that I’m doing right now) where the only person I talk to is my broker/remisier.

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