I have read Robert Kiyosaki’s “Rich Dad Poor Dad”, Napolean Hill’s “Think and Grow Rich”, Adam Khoo’s “Master Your Mind, Design your Destiny” and “Secrets of Self-made Millionaires”. I have learnt many useful money concepts from these books. From the cashflow quadrant, to millionaire mindsets, to neuro-linguistic programming, to investing…However, none struck me as hard as the talk by KC See which I attended last year.

I was asked the following questions:

1. What do you spend most of your time, effort and energy on daily? For most of us, it is our full-time job. For me, I spent a whopping 10 hours on my job as an IT engineer daily!!! That is, including travelling time.
2. Do you like this thing that you do daily? For me, the answer was a clear NO. I don’t like to be jostled around by superiors, customers, co-workers, and even by the darn hardware and software that always fail at the wrong time!
3. If not, why are you doing it? Need the money to pay bills, to buy milk powder etc.
4. We have only 1 life, shouldn’t we be spending most of our time, effort and energy doing the thing that we want to do? This question has really got me on my feet to think for a moment. Boy, he is right!
5. Do we have a choice?

We don’t really have a choice if we only have a single source of income. But how can we get around that? KC See’s idea is to first create multiple streams of passive income (MSIs). The word “passive” is crucial here. Like what Robert Kiyosaki says, we ought to stop trading our time for money. MSIs should generate income with minimal human intervention. And KC See also recommends that at least one MSI should be coming from the Internet. But do such things exist?

I have pulled out the following internet business successes from Adam Khoo’s “Secrets of Self-made Millionaires”:

Bert Ingley - www.maddentips.com - S$187,000 a year
Jermaine Griggs - www.hearandplay.com - S$9,000 a week
Rosalind Gardner - www.sage-hearts.com - S$436,767 a year
Cherie Hammer - www.cuddlebugbaby.com - 6-figure income a year
Aaron Ang - www.gameshop.com.sg - S$5,000 a month
Preston Ruther - www.wire-sculpture.com - Instructional course for US$125.95
Nathalie Roberts - www.parrotsecrets.com - books at US$79.95
Chris Markert - www.seeingwithoutglasses.com - book at US$37

So the idea is: after the MSIs are generating enough income to cover our expenses, we are free to persue and hopefully be able to make a living out of our passion or interest! Well, all of them acknowledged the best way to live is to do the thing you like to do everyday. That will be a great way to live, isn’t it?

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