Freedom Series Part 3 with Lai Seng Choy & Book Giveaway

If you don’t know that already about Lai Seng Choy, he didn’t claim himself a self-made millionaire. But he admitted he controls his expenses very tightly. Case in point – if our monthly expenses is MYR 3500 a month, we are likely to feel financially free with MYR 1 mil of net worth. But if our lifestyle requires an expenses of MYR 15k a month, we won’t feel comfortable even with MYR 1 mi net worth. It’s the perception and different people have different standards as well. These are some of the more elaborate points to take note arising from this last session of the interview. After all, there is not definite yardstick, it is about achieving financial freedom in your own terms.

But mindset matters, as advocated by Lai. For him, it is having a set of solid financial objectives and the faith to go with it. Law of Attraction, anyone? You hear it from this man, and you hear it from my good friend and mentor, KC Lau in his article – How to Attract Money into your Life.

Learn from Lai Seng Choy on his proven, time-tested, 10 minutes/day stock investment process in the Invest Bursa course. Enter your name & email below to get an exclusive, full length 60 minutes video recording with Lai showing you this..

Further, Lai quoted how he first bought his first house, with so much complications. His first financial objective at that time – to settle his housing loan in 7 years? Yea, you heard that correct – 7 years? Who in the sane mind does that? That could use up 100 percent of your monthly income – and yes, Lai did that. You have to listen to him below on how he did it.

Then I proceed to probe Lai Seng Choy what car he is driving, and in the process, we end up whacking our national car…ahem…Proton. I don’t want to spoil it for you, it’s pretty humorous but you got to listen to the part starting at 9.50 mark.

Now while readers know that I am invested in M-REITs, and run the first online course on REIT investment – Lai Seng Choy is much more experienced than me because he started investing in REIT way back when the REIT sector was still in its infancy stage in 2005. Go to 12.20 mark to listen why he believes in REIT investing.

Book Giveaway

Courtesy from the editor from Kanyin Publications, we want to send you 2 copies of the book Freedom by Lai Seng Choy (priced at RM 38.90 at bookstores nationwide). All you have to do is answer this question:

What is the most important take-way after listening to Lai Seng Choy interview?

Post your replies below

Winners to be announced 29 Jan 2013

Update: I wish I could give everyone who posted excellent comments below but I only got 2 limited copies from publisher. I am getting more books for publisher to be given away in later articles. Please keep the comments coming in – love to hear them. The winners for this round are Carina because she has been consistently commenting for the last few giveaways and Denise because she showed me personally she did cut her credit cards (unbelievable!)

freedom lai seng choy

If you miss the previous episodes, click on the links below

Freedom Series with Lai Seng Choy Part 2

Freedom Series with Lai Seng Choy Part 1

This Post Has 24 Comments

  1. Yep, not everyone who has done it are willing to share. It requires a passion to share and teach. That itself is something honourable, if that makes the lives of others better, if they are willing to listen and learn.

  2. What impress me was the passion to do it yourself..Gathering knowledge in financial planning..Along with the digestion of that knowledge come the application making your money work for you. Testing along the way he found the right stuff to sustain his financial plan. Now he shares his “wisdom” so that we can avoid pitfalls along the way if we duplicate his system.

  3. Nicely said Ching Hong!

  4. Most Important Take Away:-

    1. Believe in delayed gratification. Avoid purchase of car too fast because it is not an asset and affect your credit power.
    2. Believe in yourself. You are right because your facts and your reasoning is right, you don’t need other people to agree with you.
    3. Apply concept of OPM (other people money:-effectively control) as long as it can help you achieve your 1st million. Let us be happy and live within our means even if we have to borrow the money to do it with. If you are born poor, it was not your fault. If you are die poor, it’s 100% your fault.
    4. Network = Networth and always keep sharing with others. Be a noble man yourself instead of seeking of noble man to help you.
    5. Apply value investing method. As long as it meet criterias of right business model, right management, right value (not price)- Go for it.
    6. Value is not about cheapness, but unreasonable cheap. Value always can be found in the most destressed sector. When you meet it, please ACTION (after do your own homeworks).
    Waiting always is passive. Beaware of our macro surrounding. Opportunity only go to people who ready and well prepared.
    7. Always understand your financial position. Use all of your resources effectively including cost effective insurance (don’t over protection).
    8. Always invest in appreciation assets (property, stock, bond, cash). Gold is only for speculation and hedging purpose. Do not confuse about this.

  5. CT, good to have awareness at such young age. You are way ahead of me in that age. Now, if you use FundSupermart for unit trust, and unit trust is your cup of tea, you’d probably able to save that amount of percentage too. To be fair, REIT value investing requires more work and study 🙂

  6. True, Carina. Time and knowledge is 2 things people are unwilling to spend on nowadays. Short but precise to the point!

  7. Post a screenshot of the credit card pieces please.

  8. You are most welcome Priscilla. Yours is short but profound.

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