2008, An Exciting Year Ahead

As we wind down to the end of 2007 and begin our new year, many of us will be reflecting on the past year and contemplating what to do for this coming year.

Since 2006, I had been searching for a new direction in my work and personal life. It was in 2007 that my “eyes” opened.

In 2007, I had learned how to trade options, internet marketing and most important of all…the utmost importance of personal development in all aspect of my life.

I thought after my uni graduation, I only needed to do CPD hours for my profession as a Chartered Accountant. Little did I know that we need to develop ourselves even more, after we start working. This is because life gets more complicating after school, and we don’t learn how to live in school, college or uni. Living is an “on the job” training by itself.

I used to think that personal development are for losers! You just need to work hard to find solutions to all your problems. And that was what I had lived, a hard life.

“A formal education will make you a living, but self education will make you a fortune.” - Jim Rohn.

It was through my new mindset of striving to learn to develop myself that led me to many new opportunities as well as making more friends to help me along the way.

The most important lesson among others was the simplicity of achieving financial freedom.

I played Robert Kiyosaki’s cashflow game last week with some friends. This is a simple fun game but it has a lot to teach as well.

The 3 most important lessons I learned from the game which will form the basis of my new year’s resolution are:-

1. simplify your life and reduce unnecessary cash outflow. This include discipline spending and reducing unnecessary debts which have high interest cost.

2. invest in capital markets to grow your capital for investments and reinvest your returns or use returns to reduce high interest debts.

3. regardless of how small is the investment, as long as it has positive cashflow, get it! This is to grow multiple streams of passive income bit by bit.

My new year’s resolution is to achieve financial freedom this year. To achieve my goal, I plan to do the following 3 steps:

1. set up a money management system according to T Harv Eker’s money jar system (do yourself a favour and read his book to learn the simplicity of achieving financial freedom).

2. trade options because options have limited risk, have better leverage than trading shares and you can earn regardless of market direction.

3. build up my internet marketing knowledge and translate my knowledge into various streams of internet business to grow my passive income.

It looks like I’m going to be doubly busy with so many things to do. But this challenge is really motivating because our future is not determined by our past but by what we do now.