04 Jun 2007 | Comments |
Wealth Management |
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Interview of a future Millionaire - MiriGuy
I had a chat with the Miri guy – Chee Kui. I actually interviewed him about money matters. After a short introduction, coincidently we both studied at the same university – University Technology of Malaysia at Skudai, Johor, Malaysia. Luckily Chee Kui didn’t end up as a civil engineer. If not, Malaysia will miss a great blogger who run several sites:
Dirty Little Secret – He shares about his journey to become a professional full time blogger
Cheekui.com – Notice his name on the url?
Online Forex Trading Tips is where Chee Kui and his partner discuss about Forex Trading and provides free Forex signal on weekdays.
Kaki Karaoke – Chee Kui is a great singer?! You would have to check it out.
Chee Kui is targeting to get a full time blogging income of consistent USD2000 per month by the end of this year. His main income sources will be Google Adsense, Text Link Ads, ReviewMe, PayPerPost, Auction Ads and Kontera.
Being 23 years old this year, Chee Kui has a clearly stated goal. He wants to be a millionaire by the age of 30. Still 7 years left. I believe there are many things can be done in seven years. Google had become Microsoft’s and Yahoo’s main competitor in 5 years time.
The advantage of being a young entrepreneur is probably the comparatively less financial commitment. Unlike middle age family man, Chee Kui doesn’t have to pay car installment, mortgage repayment or children’s education fees. His fixed expense is only some family allowances, insurance premium and his daily expenses.
He has determined to become a millionaire motivated by the understanding of law of attraction.When I asked about his plan to become a millionaire, he said that he is setting aside 5-10% of his total disposable income. He is going to increase the saving portion when his earning increases. Referring to his previous post: Why do I want to make $10k per month on the Internet? Chee Kui needs to make $2739.72 per day to achieve the millionaire status at age 30. Actually according to my calculation, Chee Kui only had to save $341 a day. But he had to make sure that the money is invested to get a steady return of at least 5% a year. After all, making money and saving money is a different issue.
Unlike most young investor, Chee Kui prefers old fashioned investment, which is mostly low risk investment. Most his money is in the most liquid form – bank account. Later on, he is going to identify some other low risk investment such as bond to park his cash.
Currently spending 80% from his earning maintain his current lifestyle; he is not going to further enhance his spending power until he is able to make more. It won’t be a drastic change even he had successfully made significantly more money. His expenses break down into 40% meal, 30% transport, 10% rental, 20% entertainment. I guess transportation fee in Singapore is not cheap. But if you are living in Malaysia, you will be tied down by a depreciating car, making the situation worse.
Chee Kui might want to get a financial planner to handle and educate him about investment. I am glad that Chee Kui said that he will definitely consider me as his personal financial advisor when he needs one in the near future. I believe that he will make more than five figure monthly incomes soon. Wish you all the best Chee Kui!
If you are interested to follow through his journey to become an internet millionaire, read his Dirty Little Secret.
Related articles that you might interest you:
 The Millionaire Mind: Think and act like a millioaire
How Millionaire Blogger John Chow Manage his Wealth
The Best Books about Making Money Online
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June 17, 2007 at 7:52 pm
[...] Gadis said I am a younger boy.. Omg! I am 23. 2. KC Lau, a personal finance planner, thanks ...
September 21, 2008 at 10:34 pm
[...] berkaitan Personal Finance terbaik setakat ni yang aku baca dan subscribe. Sebelum ni dia pernah interview aku setelah dia ...