Table of Contents | Conspiracy of the Rich: The 8 New Rules of Money
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Thursday, May 28, 2009
Friday, October 31, 2008
Secrets of Self Made Millionaires
Do you ever wonder what it would take to become a self-made millionaire? Do you wish you had the resources they had? Do you believe that sadly you don’t have a chance?
Cheer up. You do have a chance. There’s an easy way to get access to the very secrets that helped self-made millionaires become who they are. And they’re not just the fluffy generalities you find in many books. They’re the real deal.
Adam Khoo’s Secrets of Self-Made Millionaires, doesn’t just provide a list of the kind of information that enabled the self-made millionaires to make their millions. You don’t find just pep talks although there are plenty of those. In fact, as you go through the book, you’ll discover, there’s real effort involved, and those pep talks can come in handy. You’ll have to work on your mindset as well as on your business. But it can be done. It has been done many times before, and Adam’s book gives you the tools to do it too.
T
he only problem: No more excuses.
So how will it work? In Adam’s typical style, he shares his personal history and plenty of motivational stories to get you excited and show you that you do have what it takes. If the people in his stories could do it, surely, you can too.
Click Here!
Adam gets you started with a little soul searching: Under the heading, “Reasons why I’m not rich yet,” you’re invited to list the reasons why you, yes you, are not yet rich. Then he proceeds to teach you how to overcome each and every one of those reasons.
He continues with an overview over the 9 habits of self-made Millionaires: from always exceeding expectations to being proactive, taking total responsibility, doing what you love, and more. The last one: Millionaires respect and love money.
Cheer up. You do have a chance. There’s an easy way to get access to the very secrets that helped self-made millionaires become who they are. And they’re not just the fluffy generalities you find in many books. They’re the real deal.
Adam Khoo’s Secrets of Self-Made Millionaires, doesn’t just provide a list of the kind of information that enabled the self-made millionaires to make their millions. You don’t find just pep talks although there are plenty of those. In fact, as you go through the book, you’ll discover, there’s real effort involved, and those pep talks can come in handy. You’ll have to work on your mindset as well as on your business. But it can be done. It has been done many times before, and Adam’s book gives you the tools to do it too.
T
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1AH2OMpSBb2ZRs9J_fWOH7Hg9_Zcf7CnjDFOqo0Kx2qy3A2gPz62R72FpbZgkJL1owrYVQL5XwDJbd5CTQCsarWYgG5JNdoDEZiAxaSmD-69tk69al_0A03EJLYvwLItlHfoC/s200/paperback-large+AK.jpg)
So how will it work? In Adam’s typical style, he shares his personal history and plenty of motivational stories to get you excited and show you that you do have what it takes. If the people in his stories could do it, surely, you can too.
Click Here!
Adam gets you started with a little soul searching: Under the heading, “Reasons why I’m not rich yet,” you’re invited to list the reasons why you, yes you, are not yet rich. Then he proceeds to teach you how to overcome each and every one of those reasons.
He continues with an overview over the 9 habits of self-made Millionaires: from always exceeding expectations to being proactive, taking total responsibility, doing what you love, and more. The last one: Millionaires respect and love money.
Now here’s the rub for a lot of people. So before moving on, Adam deals with those money beliefs. So many of us have been brought up with very counterproductive beliefs about money. We were told that it’s evil. Or that we don’t deserve it and that we can never get it anyway. And if we do, it will only bring problems. And sooner or later, someone will take it away. So wouldn’t it be better not even to get started?
With beliefs like that, is it any wonder if money stays at a safe distance? Adam proceeds with helping you install new beliefs, beliefs that are much more likely to help you draw money into your life. In fact, lots of money.
As he moves from chapter to chapter, he unpacks each of the nine habits he introduced and helps you make them your own. Not only does he provide numerous examples but also plenty of work sheets for you to fill out. This is a book that’s not just to be read, but also to be worked. If you don’t, it obviously won’t bring the results you’re hoping for. If you do, chances are very good that the sky will the limit for how far you can go.
Adam himself is a case in point, and he uses his story as a motivational example throughout the book. From his start as an academically weak student at the very bottom of the class, he turned himself into a top student. He also set himself the goal to become a millionaire by age 26 – and achieved it.
Inspiring as he is, he doesn’t rely just on his own story to make his case but provides us with many more inspirational examples throughout the book, including Warren Buffet.
In the chapter about the first of the habits of self-made millionaires, Adam gives us insights into cash flow strategies of the rich. And most of us are in for a surprise. There’s the myth out there of the extravagant millionaire who drives fancy cars and basically throws money away. Adam shows that nothing could be further from the truth.
Click Here!
While millionaires will pay for value, they can be outright stingy when they don’t feel the expense is necessary – or worth it. They also keep close tabs on what they spend, and every dollar that goes out the door has to basically earn its keep.
But the most fascinating – and toughest part – comes with the worksheets that are included. You, the reader, are challenged to take an assessment as to where exactly you stand with your own net worth.
There is room for income and outflow, and when Adam talks about spending less than you earn and invest the rest in a way that will make it grow with compounded interest, until it turns into a tool of positive cash flow, you may think of putting the book down. You’ve read that one before. Probably because it’s true.
Don’t give up yet. While Adam stresses the importance of the basics, as so many books do with good reason, he (unlike many of the other books) doesn’t stop there. In fact, it’s only the first of nine principles.
In fact, the very next chapter is a real eye-opener. The four levels of wealth. When most people think of “rich,” they actually have very murky ideas as to what that means. However, in order to actually become rich (and we’re not talking lottery here), it is necessary to have a very clear idea of what “rich” really means.
And Adam’s four levels of wealth is priceless here. He differentiates between four levels, as the chapter says: financial stability, financial security, financial freedom, and financial abundance. When I read through that chapter, it was the first time I began to get a picture of what I really wanted. And I also began to understand why it had been so elusive.
The coolest thing about the chapter: together with the lists that were created in the previous chapter, Adam guides you to create a financial plan to achieve your desired level of financial abundance, complete with work sheets. It seems so much more doable once it has been taken out of the realm of vague wishes to concrete plan and what it will take to achieve it. Now if that’s not motivational, I don’t know what is.
And he doesn’t just leave you with this dream, only to refer you to his high-priced coaching program like so many other gurus. No, he delivers the exact how-to right here in this book.
In fact, the very next chapter gets you going on that very path: How to massively increase your income. Again, with detailed worksheets and examples, he helps you make plans and actually implement them. From changing your mindset from thinking about your value rather than time put in, to very specific ways in which you can increase your value to your employer, almost no matter what you do. And he makes it sound so easy.
Click Here!
Next, he provides numerous ways to maximize and increase income in just about any career. And that’s even before he gets to creating multiple income streams online.
That chapter, on how to create those multiple streams of income online, is worth many times over the price of this book alone. To say it was excellent and comprehensive would be an understatement. I really wish I had read this book about a couple of years ago, or even five or ten years ago. It would have changed my life dramatically.
But as they say, better late than never.
So what makes this chapter so special? If you have tried to make money online, you probably have been bombarded with must-have offers and have spent thousands trying to learn how to do it. The problem, the vast majority of people have been left utterly confused, intimidated, and especially broke.
This chapter cuts through the smoke and mirrors of the online marketing world and provides a basic but highly effective plan for people to get online, set up their online business, and yes, make money. I couldn’t believe my eyes when I read it. It’s so clearly explained. I have paid people thousands for this information, and Adam’s book helped me fill in some crucial gaps the others have conveniently left out.
While it provides outstanding information on how to select a market, how to find or create products to sell to them, how to sell them, and how to help the market find your offers, there are a couple of small points that aren’t entirely up-to-date anymore.
The online world changes very quickly, and especially the way Google ranks websites. So Adam’s recommendation for keyword density would have to be taken with a grain of salt. However, if you don’t know what I’m talking about, don’t worry. The rest is so good that if you take the steps he recommends and also interact on the web, by the time you get to the keyword issue, you’ll know how to find updated information. And chances are, that this downloadable book will have been updated by the time you’ll get your hands on it.
Next, Adam goes into more depth about other millionaire habits, including keeping track of the money and not spending it frivolously. Once again, his book reads like your basic financial advisor handbook: stay away from credit cards, spend responsibly, and so on.
However, that seemingly conservative approach doesn’t extend to investing. In the following chapters, Adam shows how to invest safely yet with impressive returns. And over several chapters, he gives you such an outstanding guide to investing, including how to pick stocks, I was tempted to get started on the spot.
Finally, he wraps it all up by helping you design your very own Millionaire road map.
Once again, numerous worksheets guide you along, and by the time you’re finished, it’ll be just a matter of getting yourself in action.
Overall, an outstanding book. It promises a lot in its title, and while most of the other books with similar titles leave much to be desired, Adam’s book lives up to the first of the Millionaire Secrets: not only does it live up to even the kind of exaggerated expectations a book with this title might inspire, but it exceeds them.
Click Here!
Monday, February 04, 2008
How to know when it's time to sell...
It's easier said than done.
The 25% trailing guide is there - but without discipline, you won't use it. That's my personal experience. And then you see it going further down, and you regret why you didn't let it go.
So next time, be disciplined enough to use the trailing guide.
It's easier said than done.
The 25% trailing guide is there - but without discipline, you won't use it. That's my personal experience. And then you see it going further down, and you regret why you didn't let it go.
So next time, be disciplined enough to use the trailing guide.
Tuesday, April 17, 2007
How To Know When It's Time To Sell Your Stock
by Alexander Green, Chairman, Investment U Investment Director, The Oxford Club
(Extract of main points)
Anyone can buy a stock. The art of investing is knowing when to sell.
There are a number of theories about when to cash in your chips. But most of them are misguided. And some are completely wrongheaded.
For example, any analyst who urges you to sell a stock because the market is about to tank is immediately discredited, in my view. While there are certainly many bear markets and bull markets ahead of us, no one – and I mean that literally – has ever demonstrated any proficiency at warning investors in advance.
Sure, anyone can call a market turn occasionally. But no one does it with any consistency. Fear of a market downturn is a very poor excuse for selling a great company.
Other analysts believe in price targets. It’s not uncommon for a Wall Street type to suggest that you buy a stock at $26, with a price target of $35. The idea, of course, is that the company is undervalued at $26 and will be “fully valued” at $35. When it gets there, the argument goes, you should sell it.
Wrong again.
The #1 Way to Take Profits... and Protect Your Principal
If there is truth to any of the great maxims of Wall Street it’s this one: cut your losses and let your profits run. Selling a rising stock, by definition, is not letting your profits run.
There is, however, one sell discipline that forces you to do just that. It’s called a trailing stop. And if you’re not using one to protect your stock positions, you should be.
A trailing stop is simply a stop-loss order set a certain percentage below the market – and then adjusted as the price rises. Let’s use a 25% trailing stop as an example.
After buying a stock at $20, you would immediately place a sell stop at $15, 25% below your purchase price. Under no circumstances should you lower your stop. It’s there to protect your principal.
However, you should adjust it upward as the stock begins to rise. When the stock hits $30, for instance, your 25% sell stop would be at $22.50, guaranteeing you a double-digit gain. When the stock hits $40, your sell stop would be at $30. And so on. This maximizes your gains – and ensures that your profits never slip through your fingers.
Traders, who are short-term oriented, will always want to run their sell stops closer than long-term investors. But even a short-term trader shouldn’t run his stops too close to the market. Why? Because no stock moves up in a straight line. And you don’t want to get knocked out of a winning stock while its just going through its normal fluctuations.
There is plenty of research to back up the idea of running trailing stops, incidentally.
The Best Money Managers Are Strict
In a study recently published in The Journal of Portfolio Management, Christophe Faugere, Hany A. Shawky and David M. Smith – finance professors at the State University of New York at Albany – researched the performance of money managers who oversee pension funds, endowments and high-net-worth accounts.
Because most institutions work under strict investment guidelines, these academics were able to analyze performance based on different approaches to selling stocks.
The result? Institutional managers who fared best were those with restrictive rules that did not allow much leeway for hanging onto stocks for emotional reasons. The managers who relied on “flexible” sell strategies did far worse. Institutional money managers are just as prone to rationalizing as individual investors.
The culprit is almost always pride, ego or emotion.
By adhering to a disciplined trailing stop strategy, you can mow down emotion-driven trading errors like a field full of dandelions. It cures greed. Eliminates fear. And does away with wishful thinking… as in “I hope this stock turns around and starts going the right way.”
Trailing stops are a very effective way of managing risk. If you don’t have a sell discipline, you’re probably flying by the seat of your pants.
And in the world of investing, that’s the number one cause of pilot error.
Good Investing. For more, here’s here’s how to join.
by Alexander Green, Chairman, Investment U Investment Director, The Oxford Club
(Extract of main points)
Anyone can buy a stock. The art of investing is knowing when to sell.
There are a number of theories about when to cash in your chips. But most of them are misguided. And some are completely wrongheaded.
For example, any analyst who urges you to sell a stock because the market is about to tank is immediately discredited, in my view. While there are certainly many bear markets and bull markets ahead of us, no one – and I mean that literally – has ever demonstrated any proficiency at warning investors in advance.
Sure, anyone can call a market turn occasionally. But no one does it with any consistency. Fear of a market downturn is a very poor excuse for selling a great company.
Other analysts believe in price targets. It’s not uncommon for a Wall Street type to suggest that you buy a stock at $26, with a price target of $35. The idea, of course, is that the company is undervalued at $26 and will be “fully valued” at $35. When it gets there, the argument goes, you should sell it.
Wrong again.
The #1 Way to Take Profits... and Protect Your Principal
If there is truth to any of the great maxims of Wall Street it’s this one: cut your losses and let your profits run. Selling a rising stock, by definition, is not letting your profits run.
There is, however, one sell discipline that forces you to do just that. It’s called a trailing stop. And if you’re not using one to protect your stock positions, you should be.
A trailing stop is simply a stop-loss order set a certain percentage below the market – and then adjusted as the price rises. Let’s use a 25% trailing stop as an example.
After buying a stock at $20, you would immediately place a sell stop at $15, 25% below your purchase price. Under no circumstances should you lower your stop. It’s there to protect your principal.
However, you should adjust it upward as the stock begins to rise. When the stock hits $30, for instance, your 25% sell stop would be at $22.50, guaranteeing you a double-digit gain. When the stock hits $40, your sell stop would be at $30. And so on. This maximizes your gains – and ensures that your profits never slip through your fingers.
Traders, who are short-term oriented, will always want to run their sell stops closer than long-term investors. But even a short-term trader shouldn’t run his stops too close to the market. Why? Because no stock moves up in a straight line. And you don’t want to get knocked out of a winning stock while its just going through its normal fluctuations.
There is plenty of research to back up the idea of running trailing stops, incidentally.
The Best Money Managers Are Strict
In a study recently published in The Journal of Portfolio Management, Christophe Faugere, Hany A. Shawky and David M. Smith – finance professors at the State University of New York at Albany – researched the performance of money managers who oversee pension funds, endowments and high-net-worth accounts.
Because most institutions work under strict investment guidelines, these academics were able to analyze performance based on different approaches to selling stocks.
The result? Institutional managers who fared best were those with restrictive rules that did not allow much leeway for hanging onto stocks for emotional reasons. The managers who relied on “flexible” sell strategies did far worse. Institutional money managers are just as prone to rationalizing as individual investors.
The culprit is almost always pride, ego or emotion.
By adhering to a disciplined trailing stop strategy, you can mow down emotion-driven trading errors like a field full of dandelions. It cures greed. Eliminates fear. And does away with wishful thinking… as in “I hope this stock turns around and starts going the right way.”
Trailing stops are a very effective way of managing risk. If you don’t have a sell discipline, you’re probably flying by the seat of your pants.
And in the world of investing, that’s the number one cause of pilot error.
Good Investing. For more, here’s here’s how to join.
Wednesday, November 29, 2006
Corporate Lessons
(Source: Unknown. Received via e-mail from a colleague)
Corporate Lesson 1
A man is getting into the shower just as his wife is finishing up her shower when the doorbell rings. The wife quickly wraps herself in a towel and runs downstairs. When she opens the door, there stands Bob, the next door neighbor. Before she says a word, Bob says, "I'll give you $800 to drop that towel." After thinking for a moment, the woman drops her towel and stands naked in front of Bob. After a few seconds,Bob hands her $800 dollars and leaves.
The woman wraps back up in the towel and goes back upstairs. When she gets to the bathroom, her husband asks, "Who was that?" "It was Bob the next door neighbor," she replies. "Great!" the husband says, "Did he say anything about the $800 he owes me?"
Moral of the story: If you share critical information pertaining to credit and risk with your shareholders in time, you may be in a position to prevent avoidable exposure.
Corporate Lesson 2
A priest offered a lift to a Nun. She got in and crossed her legs, forcing her gown to reveal a leg. The priest nearly had an accident. After controlling the car, he stealthily slid his hand up her leg. The nun said, "Father, remember Psalm 129?" The priest removed his hand. But, changing gears, he let his hand slide up her leg again. The nun once again said, "Father, remember Psalm 129?" The priest apologized "Sorry sister but the flesh is weak." Arriving at the convent, the nun went on her way. On his arrival at the church, the priest rushed to look up Psalm 129. It said, "Go forth and seek, further up, you will find glory."
Moral of the story: If you are not well informed in your job, you might miss a great opportunity.
Corporate Lesson 3
A sales rep, an administration clerk, and the manager are walking to lunch when they find an antique oil lamp. They rub it and a Genie comes out. The Genie says, "I'll give each of you just one wish." "Me first! Me first!" says the admin. clerk. "I want to be in the Bahamas, driving a speedboat, without a care in the world." Poof! She's gone. "Me next! Me next!" says the sales rep. "I want to be in Hawaii, relaxing on the beach with my personal masseuse, an endless supply ofPina Coladas and the love of my life." Poof! He's gone. "OK, you're up," the Genie says to the manager. The manager says, "I want those two back in the office after lunch."
Moral of the story: Always let your boss have the first say.
Corporate Lesson 4
A crow was sitting on a tree, doing nothing all day. A rabbit asked him, "Can I also sit like you and do nothing all day long?" The crow answered: "Sure, why not." So, the rabbit sat on the ground below the crow, and rested. A fox jumped on the rabbit and ate it.
Moral of the story: To be sitting and doing nothing, you must be sitting very high up.
Corporate Lesson 5
A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, but I haven't got the energy." "Well, why don't you nibble on my droppings?" replied the bull. "They're packed with nutrients." The turkey pecked at a lump of dung and found that it gave him enough strength to reach the lowestbranch of the tree. The next day, after eating some more dung, he reached the second branch. Finally after a fourth night, there he was proudly perched at the top of the tree. Soon he was spotted by a farmer, who shot the turkey out of the tree.
Moral of the story: Bullshit might get you to the top, but it won't keep you there.
(Source: Unknown. Received via e-mail from a colleague)
Corporate Lesson 1
A man is getting into the shower just as his wife is finishing up her shower when the doorbell rings. The wife quickly wraps herself in a towel and runs downstairs. When she opens the door, there stands Bob, the next door neighbor. Before she says a word, Bob says, "I'll give you $800 to drop that towel." After thinking for a moment, the woman drops her towel and stands naked in front of Bob. After a few seconds,Bob hands her $800 dollars and leaves.
The woman wraps back up in the towel and goes back upstairs. When she gets to the bathroom, her husband asks, "Who was that?" "It was Bob the next door neighbor," she replies. "Great!" the husband says, "Did he say anything about the $800 he owes me?"
Moral of the story: If you share critical information pertaining to credit and risk with your shareholders in time, you may be in a position to prevent avoidable exposure.
Corporate Lesson 2
A priest offered a lift to a Nun. She got in and crossed her legs, forcing her gown to reveal a leg. The priest nearly had an accident. After controlling the car, he stealthily slid his hand up her leg. The nun said, "Father, remember Psalm 129?" The priest removed his hand. But, changing gears, he let his hand slide up her leg again. The nun once again said, "Father, remember Psalm 129?" The priest apologized "Sorry sister but the flesh is weak." Arriving at the convent, the nun went on her way. On his arrival at the church, the priest rushed to look up Psalm 129. It said, "Go forth and seek, further up, you will find glory."
Moral of the story: If you are not well informed in your job, you might miss a great opportunity.
Corporate Lesson 3
A sales rep, an administration clerk, and the manager are walking to lunch when they find an antique oil lamp. They rub it and a Genie comes out. The Genie says, "I'll give each of you just one wish." "Me first! Me first!" says the admin. clerk. "I want to be in the Bahamas, driving a speedboat, without a care in the world." Poof! She's gone. "Me next! Me next!" says the sales rep. "I want to be in Hawaii, relaxing on the beach with my personal masseuse, an endless supply ofPina Coladas and the love of my life." Poof! He's gone. "OK, you're up," the Genie says to the manager. The manager says, "I want those two back in the office after lunch."
Moral of the story: Always let your boss have the first say.
Corporate Lesson 4
A crow was sitting on a tree, doing nothing all day. A rabbit asked him, "Can I also sit like you and do nothing all day long?" The crow answered: "Sure, why not." So, the rabbit sat on the ground below the crow, and rested. A fox jumped on the rabbit and ate it.
Moral of the story: To be sitting and doing nothing, you must be sitting very high up.
Corporate Lesson 5
A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, but I haven't got the energy." "Well, why don't you nibble on my droppings?" replied the bull. "They're packed with nutrients." The turkey pecked at a lump of dung and found that it gave him enough strength to reach the lowestbranch of the tree. The next day, after eating some more dung, he reached the second branch. Finally after a fourth night, there he was proudly perched at the top of the tree. Soon he was spotted by a farmer, who shot the turkey out of the tree.
Moral of the story: Bullshit might get you to the top, but it won't keep you there.
Tuesday, November 14, 2006
The Richest Man in Babylon
By George S. Classon
Excerpts from the book…
“Money is the medium by which earthly success is measured”
“Money makes possible the enjoyment of the best the earth affords”
A PART OF ALL YOU EARN IS YOURS TO KEEP.
BETTER A LITTLE CAUTION THAN A GREAT REGRET.
Seven Cures for a lean purse
- Start your purse to fattening
- Keep one-tenth of all you earn
- Control your expenditure
- Make your gold multiply
- Guard your treasures from loss
- Make your dwelling a profitable investment
- Insure a future income
- Increase your ability to earn
- Gold comes gladly and in increasing quantity to any man who will put by not less than one tenth of his earnings to create an estate for his future and that of his family.
- Gold labours diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
- Gold clings to the protection of the cautious owner who invests it under the advice of men wise in its handling.
- Gold slips away from the man who invests it in business or purposes with which he is not familiar or which are not approved by those skilled in its keep.
- Gold flees the man who would force it to impossible earnings or who follows the alluring advice of tricksters and schemers or who trusts it to his own inexperience or romantic desires in investment.
Friday, October 13, 2006
I liked this letter to the forum page (Asiaone) ...if only there were more of such people around, then Singapore would not be such a stressful place.
HDB flat, two kids, aged parents - and debt-free
Oct 13, 2006 The Straits Times
I REFER to the letter, 'Govt should relook income qualifying levels' (ST, Oct 7), and the writer's reason for buying a private property and not having children.
My husband and I have two young children and are totally debt-free. Even though we each hold a master's degree, I chose to be a stay-at-home mum to nurture our children. Despite surviving on a single income, we are debt-free.
We have paid fully for our home and car. We give our children a good standard of living and education. We support aged parents. We also set aside enough for rainy days and are saving diligently for our retirement.
The key to financial freedom is to live beneath your means.
We could have bought a private apartment with a loan but we chose to live in a five-room resale flat, paid for with our CPF.
We could have bought a BMW with a loan but we chose to buy a Toyota, paid for in cash.
The interest savings from being debt-free could be used to support one's aged parents and young children.
Subsidies should be channelled to people whose needs are greater than ours.
Allison Yeo Li Hwa (Ms)
HDB flat, two kids, aged parents - and debt-free
Oct 13, 2006 The Straits Times
I REFER to the letter, 'Govt should relook income qualifying levels' (ST, Oct 7), and the writer's reason for buying a private property and not having children.
My husband and I have two young children and are totally debt-free. Even though we each hold a master's degree, I chose to be a stay-at-home mum to nurture our children. Despite surviving on a single income, we are debt-free.
We have paid fully for our home and car. We give our children a good standard of living and education. We support aged parents. We also set aside enough for rainy days and are saving diligently for our retirement.
The key to financial freedom is to live beneath your means.
We could have bought a private apartment with a loan but we chose to live in a five-room resale flat, paid for with our CPF.
We could have bought a BMW with a loan but we chose to buy a Toyota, paid for in cash.
The interest savings from being debt-free could be used to support one's aged parents and young children.
Subsidies should be channelled to people whose needs are greater than ours.
Allison Yeo Li Hwa (Ms)
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