"HOW I MADE MY FIRST RM100,000!"

"The more you learn, the more you earn" 

I achieved my first RM100k after 3 years of employment through consistent learning, saving & investing. After graduating from university, I entered the job market at age 22. My first pay was RM2,200, after deducting from EPF / Socso, my net pay was around RM1,900. That's is how low it is... 

After working for several months, I realized that there is no such thing as job security in the labour market. Your manager / boss can just fire you anytime (MAS, Megasteel). In addition, I dislike reporting to someone, and the need to follow instructions especially if its not a good one. Also, I recalled some colleagues were complaining about the skyrocketing property price, and so I went to my office desk and did some calculation. I realized that I could not buy a decent property if I were to continue my way of life. My yearly increment is only 5%, and after 2-3 years of work, the promotion is another 5%. That is when I realized its time to do something serious about it. Simple maths would tell me merely relying on employment would not bring significant change in my life. And I am always at my management's mercy. 

IMMEDIATE STEPS:

1) I commit to SAVE at least RM1,000 every month. With my low salary, it is really difficult to save. However, it is a COMMITMENT and not merely a want. In order to save, that means only economy rice (rm5 to 6) for lunch everyday, forget about restaurants. In order to save, that means no overseas vacation, only domestic travel. No shopping, no car purchase (walk / public transport), no gym membership etc.  

2) I commit to increase my INCOME by giving tuitions and workshops. At that time, I knew how to make rm100k in 3 to 4 years, and shared that to others who are willing to take a chance on me with a fee. Am grateful and thankful for the support. In addition, I sold unit trust funds too. 

3) I commit to LEARN. I started to read financial books, and attended numerous financial talks (sometimes I have to take a cab / bus just to attend a talk). Educating myself is a must in order to get ideas on what I needed to do in order to make that change. I even attended free unit trust classes and follow closely the analysis of unit trust agents who are very good in picking good funds. The class is free as I am an agent too (Now you know why I am a unit trust consultant then huh :P)        

4) I commit to INVEST. After learning how to invest, it is time to pull the trigger. I invested in shares and unit trust and monitor their performance. Of course mistakes are made along the way, but never say never. Keep learning and have confidence to do it again and again, till I make it. 

5) At age 24, after 3 years in employment, I managed to make my first RM100,000. Am grateful for that, the journey has been an amazing one. The struggles are definitely worth it. As some say, "the bitter the struggles, the SWEETER the victory." 

That was also the year I completed the Master's Degree!

And the year I published my first Financial Book :)

WHAT ABOUT NOW:

To be frank, I am still doing all the above except I pamper myself more now. Every weekend, I would dine in restaurants and go for overseas vacation once or twice a year with my passive income. I love shopping once in a while. I go for "Go-Karting" and rock climbing too. 

I do keep track of my spending though, just to make sure I am not carried away by the world. 

THE PLAN FOR THE FUTURE

The plan is to be FOCUS and remain DISCIPLINE in learning, earning, saving and investing. It is important to allow the 8th wonders of the world to work, and that is the "POWER OF COMPOUNDING".

So what about you? How is your journey?

I wish your journey is an amazing one as well.

Please "LIKE" and "SHARE" my page in Facebook (George Leong's Investment Journey). 

Do register for Saturday's (5 November 2016) "FREE FINANCIAL SHARING SESSION" at Subang Jaya, 10am to 12pm with the following link: https://goo.gl/forms/juEU5keEN1jrnZLC3   

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Join us and learn:
(a) How You Can Buy A Property at AGE 22!
(b) How You Can Have RM100,000 Net Worth by AGE 25!

Take Massive Action in your sweet twenties! :)