Secrets of Self-Made Millionaires

date Mar 3, 2007
authors Adam Khoo
reading time 1 min

I liked it, although i had a slight difficulty drilling in all the financial terms i have never heard before! It’s my first ever book on finance/investment… or whatever they mean :P I learnt a lot and to point out a couple of learning points here…

9 Habits of Millionaires:

  1. Always Exceed Expectation
  2. Be Proactive
  3. Take 100% Responsibility
  4. Delayed Gratification
  5. Do what you love
  6. Acting with Integrity
  7. Be 100% committed
  8. Ability to turn failure into success
  9. Respect and Love Money

the 4 levels of wealth:

  1. Financial Stability: enough liquid assets for 6 months expenses + insurances
  2. Financial Security: enough Positive cash flow assets to cover basic expenses only
  3. Financial Freedom: enough Positive cash flow assets to sustain current lifestyle
  4. Financial Abundance: enough Positive cash flow assets to sustain desired lifestyle