Paid a visit to my uncle who is very successful and has extensive experiences in the real estate and doing businesses. While I did not get to spend too much time with him, that short period of chat shed a lot of wisdom to me, which is what makes me look forward to meeting him everytime I’m back in town. Some of the key points that he shared:
On Private vs Public sector:
“In public sector, you only work for 4 (real) hours/day. In private sector, you work for 8(real) hours/day. So the amount of time for you to learn the things that I learn in my 10 year services in the private sector will be 20 years. With the same amount of time, I would have had more experience that you are if you are in the public sector, and I would have had twice the amount of preparation if a major opportunity come by, hence, twice the chance of success. Time wait for no man. If you live by a day and did not utilize your time properly, it will not come back again. So make sure you spend real quality time learning new things everyday.”
“When I first started out in the public sector, I calculated that if i continue working for another 20-30 years, I will make about 250k – 500k in my whole life. The numbers did not make sense, and it got me frustrated, and when you are frustrated, you start to buy books to read and understand how things work. Nowadays you cannot rely on your own brain and wisdom to do things, because we are not smart enough ourselves. We have to constantly read and learn from other people, and see how they become successful and get rich. It is impossible that another guy can be a multi millionaire but not you.”
On opportunities and money:
Opportunities are like buses. They will come by and even if you miss one, there will be a next one. But you must be prepared when its here. Take your time. Get ready. When it comes, aim and calculate properly, because you just need to hit the 1st jackpot and you will be a millionaire, and hit another one to be a multimillionaire. Dont be too eager to work for people or to enter the workforce. Learn what you need to learn and then move on. There are too much money out there to be earn and you can never finish earning all of them. It is the learning that determines how far you go.