Comments on: How rich are you? http://kclau.com/wealth-management/how-rich-are-you/ Money tips and advices on personal financial planning - Protect, accumulate, preserve, and manage your WEALTH wisely! Thu, 20 Nov 2008 14:02:28 +0000 http://wordpress.org/?v=2.6.3 By: KCLau http://kclau.com/wealth-management/how-rich-are-you/#comment-5600 KCLau Tue, 06 Nov 2007 15:44:50 +0000 http://kclau.com/?p=31#comment-5600 Michelle, Total Assets - Total Liabilities = Net Worth This is the formula of calculating a person's wealth in monetary and accounting term. You are right. Michelle,

Total Assets - Total Liabilities = Net Worth
This is the formula of calculating a person’s wealth in monetary and accounting term. You are right.

]]> By: michelle http://kclau.com/wealth-management/how-rich-are-you/#comment-5412 michelle Mon, 05 Nov 2007 22:32:37 +0000 http://kclau.com/?p=31#comment-5412 There is a formula on the calculation on "How rich are you?" right? Something like ,Total Asset - Total liability =$$$. do you have that document? There is a formula on the calculation on “How rich are you?” right? Something like ,Total Asset - Total liability =$$$.

do you have that document?

]]> By: Hacking Your Cash Flow & Net Worth Chart | Learn to get Rich http://kclau.com/wealth-management/how-rich-are-you/#comment-1480 Hacking Your Cash Flow & Net Worth Chart | Learn to get Rich Wed, 29 Aug 2007 05:16:26 +0000 http://kclau.com/?p=31#comment-1480 [...] of cash flow and asset vs. liability. Learn to hack the charts and you will be on your way to the road to riches. These charts are discussed and elaborated insightfully in the book Rich Dad, Poor Dad: What the [...] [...] of cash flow and asset vs. liability. Learn to hack the charts and you will be on your way to the road to riches. These charts are discussed and elaborated insightfully in the book Rich Dad, Poor Dad: What the [...]

]]> By: kclau http://kclau.com/wealth-management/how-rich-are-you/#comment-1128 kclau Tue, 14 Aug 2007 01:47:44 +0000 http://kclau.com/?p=31#comment-1128 When we move from a place to another, we already sacrifice part of our lifestyle. It might be the same in term of material aspect, but there is no old friend, no relatives, no favourite food/store/places and everything will be a brand new start. Which I think this is something of a compromise. Wealth = How long we can continue and maintain our lifestyle without working? A person can still be considered wealth anyway if he choose to sell off his car, home, and live frugally on a few dollars a day. But do you want that? When we move from a place to another, we already sacrifice part of our lifestyle. It might be the same in term of material aspect, but there is no old friend, no relatives, no favourite food/store/places and everything will be a brand new start. Which I think this is something of a compromise.

Wealth = How long we can continue and maintain our lifestyle without working?

A person can still be considered wealth anyway if he choose to sell off his car, home, and live frugally on a few dollars a day. But do you want that?

]]> By: Relax http://kclau.com/wealth-management/how-rich-are-you/#comment-1118 Relax Mon, 13 Aug 2007 19:10:36 +0000 http://kclau.com/?p=31#comment-1118 I think it would be interesting if you throw in purchasing power factor into the game. For example a Norwegian who bring his wealth along with him to live in Afrika might be very very rich. But a Malaysian who lives in Tokyo is very very poor. That sounds like cheating :-P Maybe it is a good idea to work oversea until I retire and come back to Malaysia :-P I think it would be interesting if you throw in purchasing power factor into the game.

For example a Norwegian who bring his wealth along with him to live in Afrika might be very very rich.

But a Malaysian who lives in Tokyo is very very poor.

That sounds like cheating :-P

Maybe it is a good idea to work oversea until I retire and come back to Malaysia :-P

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