‘Luxurious’ coffee and avocado toasts? Skip it to be rich!

I am an old-fashioned guy. I do not believe in quick-rich schemes or even 5 percent returns per month type of ‘investments.’ (They are fake by the way). Read here: Why do some people still get cheated? Sigh With regards to property investments, I always believe savings is the best starting point. Too bad, I am still just a working professional and could not afford to retire yet. I work hard and I believe smart people who does not work hard will not achieve much, unless they are lucky their whole lives. So are you like me, looking at property as a vehicle for us to become rich enough to provide for our loved ones? Then, keep reading and listening from those who has done it and is today enjoying the fruits of their ‘savings’ which was used for an investment. There’s one below.

For those needing real tips on how to be rich, this is the advice from someone who grew his wealth via properties. His name is Tim Gurner. He is an Australian. His company owns 5,000 apartments worth AUD2.7 billion today.The full article in today.com is here.  He shared, “When I was buying my first home, I wasn’t buying smashed avocado for 19 bucks and four coffees at $4 each.” I think he wanted to say that whatever we do, there’s little need to overspend on the unnecessary. I just came back from Perth and the cheapest economy sandwich loaf in Coles supermarket was less than AUD1. (RM3.22) That would last us easily a few days! Well, this is if we are really crazily saving up for some investments. From a cup of coffee in the food court for RM2.50 to a pack of 3-in-1 White Coffee for RM1 or even a pack of black coffee with sugar for 50 sen. Are we really spending only when we have more to spend or are we spending everything we have?

In Malaysia, we have ever more cafes and this is also the one where many millennials spend their time and their money. One cup of freshly brewed coffee and a slice of cake? It would easily be RM16. Are there cheaper choice? Well, yes but it would not look so cool. 😛 Add this indulgence into the tendency to ‘appreciate’ better things in life; branded stuffs most of the time and we suddenly get a huge group of people who says they could not afford their first property because everything is not right. There are even articles supporting this fact which to me is just XXXXXXXX. My parents (both educators) even needed to borrow money from relatives when they bought their first home! Was property not cheaper then? It’s not easy then, not easy now and certainly not easy in the future. Happy investing. (save first!)

written on 19 May 2017

Next suggested article: Richer parents are great for kids, question is, are we becoming one

 

3 thoughts on “‘Luxurious’ coffee and avocado toasts? Skip it to be rich!

  1. Many youngsters spend money unnecessary and this is one of the reason for not able to afford their first house.

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