How I Plan On Becoming A Millionaire?

How I Plan On Becoming A Millionaire?

‘The Lack Of Money Is The Root Of All Evil’

No, it isn’t it’s the obsession of money that is. Let me first say that this isn’t a clickbait. I genuinely would like to share with you how I plan on becoming a millionaire. We all dream of becoming millionaires/billionaires someday. Well in a matter of years, it will no longer be a ‘want’ but a need’ especially due to inflation, education being more prevalent, access to technology etc. To be honest, what I’m about to share with y’all isn’t rocket science or some groundbreaking get rich quick scheme. You’ve probably even heard of this before but more often that not, brush it aside. So here’s how:


This is definitely no stranger to many of us. We’ve heard this term again and again from our parents, friends etc. Personally, I was introduced to investing since Junior College when I first opened my trading account in foreign exchange. I took the plunge and invested my hard earned savings into my account and managed to yield a 10% return! It may not be a lot, but back then, it was definitely rewarding. But it didn’t take long for my victory dance to end. What I was doing was called copy trading, in which I copied certain people who were quite experienced in this field. Despite having all the knowledge up in my brain, I chose to be lazy and relied on others to handle my money. All because I thought I didn’t have confidence in myself, afraid of taking risks and most importantly LAZY. 

What’s synonymous with investing are huge jargons like stocks, bonds, ETFs, mutual funds, REITs, Unit Trust etc. Indeed, all of them seem daunting at first especially for beginners. I’m no expert in this field either, my grades can testify to this. But everyone starts somewhere right? The thing about investing is to leverage on time, this means start young, start now. 


Take advantage of time, before things get complicated (like when you start to worry about taxes from the government, income, property etc.). Another myth about investing is that you’ll need a large capital to begin investing. Well, ‘large’ is subjective. If you’re thinking 10,000+ then you’re wrong. You can start as low as a couple of hundreds but the % you earn wouldn’t be that large compared to a larger investment.

Although I love marketing, design and all that jazz, I chose finance as my major as I believe that it’ll be a useful skill to possess and it’ll definitely come in handy. Plus, we’re already paying so much money for tuition fees so I felt to just maximise that and learn something that can’t really be learnt elsewhere that in-depth. (If you beg to differ it’s fine, just my opinion here). I understand that the competition in this course is really tight and cut-throat, oh well… I just want to learn.

The key here is to invest in assets, not in liabilities, and reduce expenses.

Altering My Mindset

The standard dogma that our teachers, parents and elders preach about going to school, getting a degree, get a good job, earn lots of money, doesn’t work anymore. (and mum if you’re reading this, I’m sorry). Back in our parents era, this would’ve worked perfectly. Well by ‘work perfectly’ would mean they would earn a relatively ‘high’ income. However, ever since insanely smart-ass, innovative, creative people like Mark Zuckerberg, Tim Cook, Steve Jobs, Jack Ma etc, the world has been completely revolutionised.

Schools are meant to prepare us for the working world, to get good job, be a good employee. Notice that it’s ‘employee‘ and not ’employer’. Basically, you’re going to spend your entire life working for a corporation, making those who own the company richer, while you work for your paycheck. Though there’s nothing wrong with that, I have a radically different perspective. What makes the rich stay rich is because they make their money work for them, instead of working for money. How do they make their money work for them? (investing and having financial literacy)

Another thing about schools is that for most people, they become what they study. For example, someone who studies law will become a lawyer etc. And honestly, I have friends studying law, medicine and other professional degrees not because they are truly passionate about it, but simply because their grades can make it. It’s really quite sad, also because most of them don’t know what they were getting themselves into. There’s absolutely nothing wrong for going into these courses, but if your aim is to earn heaps of money and live a happy life, understand that it comes with a sacrifice. Because in jobs like these we’re trading our time for money.

Managing income statements

What I mean by income statements isn’t those complicated ones you see in financial reports. What I mean is to ensure that my income>expenses. Whenever you get a pay raise, your income goes up, and typically your expenses go up too. What you’re saving probably would be roughly the same or even less or if you’re even saving at all. I admit that my expenses are pretty high, that’s why I aim to invest in income-generating assets.

If you realise, I didn’t say to increase my income, but rather my assets. The terms Balance sheets and income statements can confuse many. I didn’t understand it too at first. Basically, there’s a difference between assets, liabilities, income, expenses (it’s a no brainer for those who’ve studied accounting mods). But what school doesn’t teach us is how applicable it really is to us as an individual. You don’t have to have a company to keep track of all of these. You are your own business.

I have lots more to say…

If you were to ask my opinion about all of these investing, income=expenses, I’d give you an entirely different answer. What changed my perspective was after I read this book called Rich Dad Poor Dad by Robert Kiyosaki. You’ve probably heard of this before but never gotten down to read it. I assure you that it’s worth your time and it doesn’t contain many pages. If you’d like more insight into this book, read the review hereI have so much to share with you, but it’s really all in this book. I can’t say I agree with it 100%. But it definitely changed my perspective on education, wealth, and financing.


Honestly, you could get it for free from somewhere else, but I bought it because I feel this book really deserves the credit.

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