Thursday, July 17, 2014

Lelaki Paling Kaya di Babylon

I made a huge investment in 2008 by buying my first shop lot. Based on my analysis, in Johor Bahru, an investment in shop lot can give positive cash flow and higher capital gain in a shorter time compared to investing in a house. However by end of 2010, I was depressed because the cash flow was not as positive as I expected. It was weird when your analysis and surrounding properties showed the other way around.

There must be something that I did not know. So, I started to search for information in the cyber space. My first reading was Rich Dad And Poor Dad by Robert Kiyosaki. To my disappointment, the book was not as good as told by my friends who involved in direct selling. For those who never went to university and learn any economy class, yeah it might be an eye opener for them. The story line was bad and the writing style was also bad. But the worst concept being taught in the book was you should pay to yourself first before settling your debt.

As a muslim, this is against the teaching that you should settle your debt as soon as possible as if you are about to die. Something is wrong about this book. Then, I realize this book has never been in the top ten of financial motivation book. After some digging, I found out Mr. Kiyosaki has used The Richest Man in Babylon as on of his main references. This book is also known as top five books in financial motivation book.

After I got a copy of The Richest Man in Babylon, I spent the whole day reading the book. In fact, I cleared my schedule for the next three days to reread the book several times! There is something in the book which inspire me. But the book was written in King's James English style. Thus, it was hard to absorb and understand everything in a single reading.

The book is good for any kind of background, religion and countries provided you can put aside your prejudice for a while. For a poor man yet with a good command of English, this book can really inspire you to do better in your life. For those who always blame on the luck will be ashamed on yourself for not working hard and smart instead. While for those who already achieved some status in their life should pursue for higher goals.

Upon understanding the whole concept in the book, I tried to analyse my situation, reflect on the modern financial world and modify some of them based on my religion. My immediate understanding was written in my translation book in Malay language. I felt like to tell all my friends, relative and acquaintance what I have discovered. Then I realize not all Malays can read English at high level and to make it worst King's James English style is not common to many people. Therefore, I decided to make a complete translation of the book to Malay language.To my surprise, my translation work strengthen my understanding. And soon, I found out the tricky solution to the basic tactics, strategies and philosophy in my life. They have became my base knowledge in wealth accumulation. The book also taught me to always be on guard from bad investment.

For those who have not read the book, I recommend you to read the book at least three times and discuss with your friends. If your English language is not so good, you can get the EBook of translation part 1 for RM20 (more than 150 pages) and part 2 for RM20 (more than 150 pages). The partitioning was done to ensure if you feel the first part worth it, only then you should buy the second part. On both parts, I wrote my understanding, analysis and examples.


HAPPY READING!


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