Tuesday, 14 October 2014

CMK READS : 9 TO 5 MILLIONAIRE (THOUGHTS AND TAKE-AWAYS)


Trying to be true to my word, I've been doing a LOOOT of catch up readings lately. I've bit more than I could chew (on book shopping that is). You see, this particular book was bought a year ago when I've been to Manila International Book Fair (more on that HERE). Before I left for London, I've made it a point to tick this on my to-read list.

I first saw Leila when she guested a TV show called On The Money (it's a good and informative show, btw). She has every right to be heard. Graduated from UP with flying colors, became an executive of top-brass companies here and abroad, et al. However, what's groundbreaking on her story is that she was able to retire from a day job at an early age of 40. That said, when I saw her book on the stand, there's one only logical to do - buy it! And, have my picture taken with her :)

Takeaway #1: It's all about the mindset PLUS execution
Who wants to get rich? Everybody! What are you doing NOW to get there? Then the hands will slowly disappear one by one. It's one thing to dream and another to act towards that dream. And to act we must all do! She detailed her thoughts and ruminations in the book. Basically, she prepared some thought-provoking questions that will lead us closer to our financial goal.

Takeaway #2: Passive Income can be your BFF
Passive income are, well, passive. It requires minimum effort from you. Ever heard of money gets money? Or interest from the interest? That's what it's all about. Book shared some doable tips on how to slowly build your asset portfolio. My top picks are stocks, unit investment trust funds and mutual funds. You may be overwhelmed on how diverse the instruments are, but I'd say the best way is always to have it simple then take it from there.
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Takeaway #3: More like healthy living, this involves a lifestyle change
Like losing weight, this doesn't happen overnight. Contrary to what most people know, you don't have to be an A+ in Math, but you gotta have a sufficient amount of self control to win life's cookie test. If your goal is to have a comfortable retirement, you have to do something about it NOW (and I think I can't repeat this one too many times in this post :D )

CMK HAPPY THOUGHTS
It's a very informative little book. It gives you a glimpse of a financial fitness workshop. I think Leila has written the book with that in mind. It's more of an interactive type of reading where you can see yourself, talking to yourself. Just make sure your convo is not too loud.
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CMK WISFHUL THOUGHTS
I think the book lacks some form of a balance. It freaked me out when I've read she's spending the workweek doing the work and weekends attending seminars (!). Again - that's just me. To be fair, maybe that's her passion. One last thing that is a wishful thought is the book layout. The size is perfect, but I don't feel the white + times new roman tandem. It's more like a term paper that's not appealing (for someone with a kindergarten attention span like me), sorry.
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CMK THINKS
There's a plethora of book about personal finance but I think this book warrants a try because a) it's written by a young professional Filipina and b) she's been there and done that. There's no excuse for us not to, right? This is best when shared with someone close to you, I think the questions are liberating, money-matters-wise. If you're still in two minds, why don't you head over your favorite bookstore and scan a page or two? -CMK
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