Tuesday, December 12, 2006

The beginning of my journey

I have to admit - I have been heavily influenced by Robert Kiyosaki and his range of RichDad books. A friend first introduced the book RichDad PoorDad to me when I was in the army in January 05, and I devoured the book instantly. Never had I felt so empowered by the knowledge that the book puts forth, and I went out and read almost all his books. Schools in Singapore never taught me about financial literacy before, and this was like a whole new subject for me - albeit a more interesting one. I immediately understood why 95% of the wealth lies with 5% of the world's population - it is because of what they know, and how to apply it.

I began eagerly reading numerous finance books - ranging from Real Estate Investment, Mutual Funds, Flipping Properties, Forex Trading, Network Marketing, Futures Trading, Stock Trading, Volatility Trading, Options Trading etc etc. This was somewhere around Jun 05. My mind was chock-full of new ideas I never knew existed, but I didnt know how to apply it! Then I came across a group of people that gather together to play the board game Cashflow 101 together, and we met a couple of times to play it. It was there, that I got a know a guy in his mid 20s, and he got me interested in a particular network marketing company. Once again, I was filled with a burning desire to succeed - and decided to go ahead with it. However, it didnt work out that well, and I lost around S$1k. Not letting myself be discouraged, I decided to join another mlm that had a low start-up ($10/mth). That other venture worked out better, but after 4 months, I realized the time and money I was putting into the venture did not justify the results I had achieved, and I gave it up.

It was around Oct 05 that I went for a Freely seminar with a friend, having seem his newspaper article repeatedly appearing on the Straits Times newspaper. The seminar left a deep impression on me, and changed my view on Options Trading. I started believing that Options Trading is indeed the vehicle of the rich, and when utilized properly, can produce enormous gains.

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