Search this blog

Home About Contact

Search The Web

Custom Search

Monday, June 29, 2009

6 Millionaire Traits That You Can Adopt

1. Independent Thinking
Millionaires think differently. Not just about money, about everything. The time and energy everybody else spends attempting to conform, millionaires spend creating their own path. Since thoughts impact actions, people who want to be wealthy should think in a way that will get them to that goal.

Just look at David Geffen. A self-made millionaire with $4.5 billion to his name in 2009, this American record executive and film producer was college dropout, but made millions founding record agencies and signed some of the most prominent musicians of the 1970s and '80s. Although he didn't take what many assume to be the usual path to success, his tireless work ethic and sense of personal conviction about artists' potential allowed him to rack up a sizable fortune.

2. Vision
Millionaires are creative visionaries with a positive attitude. In other words, wealthy people not only have big dreams, they also believe they will come true. As such, wealth seekers should set lofty goals and not be afraid of uncharted territories.

Bill Gates, the world's richest person in 2009, did just that. The American chairman of Microsoft is one of the founding entrepreneurs who brought personal computers to the masses. Gates jumped into the personal computers business in 1975 and held on tight, creating Microsoft Windows in 1985. When consumers began to bring computers into their homes, Gates was ready to profit from this new age.

3. Skills
Writer Dennis Kimbro interviewed successful people to determine the traits they had in common for his book, "Think and Grow Rich" (1992). He found that they concentrated on their area of excellence. Millionaires also tend to partner with others to supplement their weaker skills. If you don't know what you are good at, poll friends and family. Use training and mentors to refine your strong skills.

4. Passion
Billionaire investing guru Warren Buffett says "Money is a by-product of something I like to do very much." Enjoying your work allows you to have the discipline to work hard at it every day. People who interact with money for a living, bankers for example, often love creating new deals and persuading others to complete a transaction. But finding your dream job may take time. The average millionaire doesn't find it until age 45, and tends to be 54 (on average) before becoming a millionaire.

5. Investment
Millionaires are willing to sacrifice time and money to achieve their goals. They are willing to take a risk now for the opportunity of achieving something greater in the future. Investing may include securities or starting a business - either way, it is a step toward achieving great financial rewards. Start investing now.

6. Salesmanship

Millionaires are constantly presenting their ideas and persuading others to buy into them. Good salesmen are oblivious to critics and naysayers. In other words, they don't take "no" for an answer. Millionaires also have good social skills. In fact, when writer T. Harv Eker analyzed the results of a survey of 753 millionaires for his book, "Secrets of the Millionaire Mind" (2005), he found social skills were more important than IQ. Just look at Donald Trump. His fortune has fluctuated over the years, but his ability to sell himself - whether as a TV personality or as the force behind a line of neckties - has always brought him back among the ranks of celebrity millionaires.

source: Investopedia

Saturday, June 20, 2009

Illegal Deposit-Taking

Looks like another form of scam in this hard times. One of my friend even was so convinced that this was a legal business that she joined in as a marketer for them and had made sales close to a million. She was trying to complete the 1 million dollar target as that would have earned her 1 thousand dollar every month in passive income alone.

Bank Negara team swings into action against Bestino Group


KUALA LUMPUR: Bank Negara has frozen the assets of Bestino Group Berhad, pending investigations into its alleged illegal deposit-taking and issuance of redeemable preference shares.

It is learnt that a task force had begun a full investigation into the company and its related activities following reports that Bestino had issued preference shares worth more than RM300mil to investors.

Sources said the authorities were investigating if the company had other branches besides those in Ipoh and Petaling Jaya.

It is learnt that investors were initially given gold bars with the face value equivalent to the amount invested.

However, they claimed that after several months of investing with Bestino, they were told by the company that Bank Negara did not allow the company to collect more than RM500mil in cash.

An investor, who declined to be identified, said that when he invested with the company in 2006, he was given gold bars with the face value equivalent to the amount invested.

However, he said those who wanted to invest in April last year were issued redeemable preference shares with a promised return of 3% per month.

source :

Thursday, June 18, 2009

7 Ways to Save on Gas

by AnnaMaria Andriotis
Friday, June 19, 2009

That budget road trip you planned for the family this summer is starting to look a lot more expensive now that gas prices are on the rise.

Some of the spike is seasonal. Increased demand -- from all of those other families hitting the road -- tends to lift gas prices each summer, says Paul Hess, information analyst at the Energy Information Administration (EIA). Oil prices have also been creeping higher in recent weeks as optimism grows on Wall Street that demand for crude will rise worldwide once the global economy stabilizes, says Tom Kloza, chief information analyst at Oil Price Information Service, which monitors oil prices in North America. And further boosting prices at the pump is an Environmental Protection Agency requirement to add a fuel blend to gasoline in certain regions during the summer months that reduces ozone damage. This additive alone can add another five to 10 cents to the price per gallon, says Kloza.

More from

10 Things Gas Stations Won't Tell You

Cash for Clunkers: What You Need to Know

Car Shoppers: Should You Buy or Lease?

As a result, regular unleaded gas costs $2.67 a gallon, up 16% from $2.30 a month ago, according to AAA’s Fuel Gauge Report. According to the EIA, gas prices won’t begin declining significantly until fall.

In the meantime, drivers can lessen the pain at the pump by taking some inexpensive and easy steps.

Here are seven ways to save on gas this summer.

Shop Around

Sure, it’s convenient to visit the gas station closest to home, but it may not be the best place to fill up.

To find the cheapest gas prices, compare prices at stations near your home or along your commute. Price-comparison web sites like and let you plug in your daily destinations to find the most affordable gas stations on those roads. The price difference per gallon can be up to 50 cents, says Samir Kothari, co-founder of

Pay Cash

More from Yahoo! Finance:

Popular Restaurant Chains on the Ropes

High Gas Prices Could Slow Recovery

What Your Dollar-Value Meal Really Costs the Restaurant

Visit the Family & Home Center

Last summer, gas stations rolled out higher prices for consumers who paid with credit or debit cards (the idea was to pass along the merchant fees associated with such transactions). Many gas stations are still at it, which means those who pay in cash can often save. ARCO (a subsidiary of BP) stations, located in California, Washington, Oregon, Arizona and Nevada, for example, only accept cash and charge between five and 10 cents per gallon less than competing stations. (ARCO recently introduced a debit MasterCard which consumers can use to purchase gas at no extra charge. Other debit cards are accepted at these stations, but there’s a 45-cent fee.)

Cash discounts are popular in California, Connecticut, Florida, Michigan, New Jersey and New York, according to (Discounts for cash-paying customers are legal in every state, as long as the gas station makes it clear that prices are different when you pay in cash vs. credit or debit, says Jason Toews, cofounder of

Fill Up at the Warehouse Club

In addition to frozen food, toiletries and appliances, Costco, BJ’s and Sam’s Club sell discounted gas at some of their locations.

“It depends on local market conditions but usually they sell it cheaply enough so that they’re beating out the competition,” says Toews. For example, at a BJ’s location in York, Pa., regular unleaded gas is selling for $2.59 a gallon. Local competitors there sell gas for $2.61 to $2.65 a gallon, according to

Keep Your Car in Good Shape

Routine maintenance on your car’s tires and engine can increase its fuel efficiency (and even exptend its life). Plus, most of the things you need to do to maintain your car's health don’t even require pricey visits to the mechanic.

Just keeping your tires properly inflated can help save you cash. Underinflated tires require more energy to roll and decrease a car’s fuel efficiency, says Kothari. Driving with properly-inflated tires can improve fuel economy by 3% over a year, saving 20 gallons of gasoline and up to $45 annually, according to the Alliance to Save Energy. Check your car owner's manual to find out what the proper air pressure.

Also, be sure to regularly change your air filter. Clogged air filters can damage your engine and decrease fuel efficiency. A new air filter will improve gas mileage by 10%, according to the Department of Energy (DOE). Even better: Air filters are fairly cheap, ranging in price from $20 to $60.

Also, stick to the motor oil that’s recommended by your car's manufacturer, and buy one that states “energy-conserving” on the label, says Kateri Callahan, president of the Alliance to Save Energy. This can increase fuel efficiency by up to 2%, according to the Alliance to Save Energy.

Avoid Road Rage

Aggressive driving isn’t just dangerous. It also wastes a lot of fuel.

Consumers pay an extra 24 cents per gallon for every five miles per hour (mph) over 60 mph they drive, according to the Alliance to Save Energy. Rapid acceleration, hard braking and speeding can lower a car’s gas mileage by 33% on the highway and 5% in the city, according to the Department of Energy (DOE).

Clean Out the Clutter

Golf clubs, bowling balls or that bag of salt from last winter -- any unnecessary equipment or baggage in a car can decrease its fuel efficiency. According to the DOE, gas mileage decreases by up to 2% for every 100 pounds.

Another helpful tip: On your next road trip, try to pack everything inside the car rather than piling it on the roof. Stashing stuff on top of the car increases drag and decreases fuel economy by 5% or more, according to the DOE.

Limit A/C Use

Whenever possible try to keep the air conditioner at the lowest level. Having it maxed out can reduce your fuel efficiency by up to 25% compared to having the A/C turned off, according to the Alliance to Save Energy.

Wednesday, June 10, 2009


Got ideas, questions, or feedback? Please contact me at the following email address:
mthilak [at] gmail [dot] com.

Tuesday, June 9, 2009

Best Recession-Proof Jobs

* Physician assistant
Two-year training program, and at least two years of college; license exam
Salary: $62,000

* Nurse practitioner
Master's degree in nursing
Salary: $74,000

* Cardiac sonographer
Two-year associate's degree, or 1-year certificate in diagnostic sonography
Salary: $56,000

* Laboratory technician
Bachelor's degree with coursework in chemistry, biology, and statistics; state certification and license
Salary: $51,000

* Computer control programmer and CNC programmer
Two-year degree or vocational degree and apprenticeship
Salary: $33,000 (computer control operator) $44,000 (CNC programmer)

* Actuary
Bachelor's degree in mathematics, statistics, or finance; professional certification
Salary: $86,000

* Financial analyst 1
Bachelor's degree in finance preferred
Salary: $48,000

* Financial planner
Bachelor's degree in finance preferred; examination for Certified Financial Planners
Salary: $61,000


Monday, June 8, 2009

How Long Will It Take To Double The Value Of My Investment?

Many of my friends started asking how long will it take to make their money from their investment, or to be exact - how long will it take to double the value of their investments? It is important to have rough idea of what we are going to gain (or lose) at the end of an investment period. This will help us to make better decisions on where to invest our hard-earned money.

First, we must understand that there are 3 most important factors that will affect our investment returns.

  • Impact of Inflation
  • Result of Compounding Interest
  • Impact of Taxation

Having this in mind,theoretically, there is a very simple rule that can be used to answer our question. It is known as 'The Rule of 72'. Basically, 'The Rule of 72' can help us to estimate:
  • how long will it take to double the value of their investments at a given rate of return
  • the loss in real value of a given amount of funds with a particular inflation rate
Since it can be used to calculate the no. of years whether to double your investment or the loss in real value of your investment, the formula is given as:

72/given rate of inflation or return = No. of years

Example 1:
Mr. A has RM 150,000 and wants to know how long will take to halve its real value with an inflation rate of 3.5% per annum.

72/3.5 = 20.6 years

This simply means that the RM 150,000 will not have the purchasing power it has currently. Even though you have the same amount of money, in 20.6 years, it can only make purchases worth today's RM 75,000.

Example 2:
Mr. B has RM 100,000 and would like to know how long will it take to double his money, given the rate of return as 7.5% per annum.

72/7.5 = 9.6 years

This is quite straightforward, in 9.6 years, your RM 100,000 will become RM 200,000.

Being equipped with this basic info on investment, I hope you guys can look out for investment tools that can cater for your needs. Just one more point to add - usually this calculation is used for in mutual funds. However, you must always remember that the rate of returns are assumptions that is based on past performance that may not hold true for the future.

The safe way to double your money is to fold it over once and put it in your pocket. ~Frank Hubbard

Thursday, June 4, 2009

Highest Paying Jobs In The U.S.

The top 24 according to the U.S. Department of Labor:
  1. Surgeon: $181,850
  2. Anesthesiologist: $174,610
  3. OB/GYN: $174,610
  4. Oral and maxillofacial surgeon: $169,600
  5. Internist: $156,790
  6. Prosthodontist: $156,710
  7. Orthodontist: $153,240
  8. Psychiatrist: $151,380
  9. Chief Executive Officer: $140,880
  10. Engineering Manager: $140,210
  11. Pediatrician: $140,000
  12. Family or general practitioner: $137,980
  13. Physician/surgeon, all other: $137,100
  14. Airline Pilot: $134,090
  15. Dentist: $132,660
  16. Podiatrist: $111,130
  17. Lawyer: $110,590
  18. Dentist, any other specialist: $106,040
  19. Air Traffic Controller: $100,430
  20. Computer and Information Systems Manager: $100,110
  21. Marketing Manager: $100,020
  22. Natural Sciences Manager: $97,560
  23. Sales Manager: $96,950
  24. Astronomer: $96,780