I JUST attended a leadership training event in Seremban: The Global Leadership Summit Malaysia. The two-day conference blended live interaction among participants, compelling creative arts presentations, and curated video sessions of world-class leaders who either spoke or were interviewed at the Global Leadership Summit in Chicago, Illinois in August. In one of those eye-opening sessions, Melinda Gates spoke about the Bill and Melinda Gates Foundation, which is giving away the bulk of the combined fortunes of her husband, the world’s richest man, and that of Warren Buffett!
The foundation’s work is driven by one idea — all lives have equal value.
Today, there are seven million children who might otherwise have died if not for the life-enhancing work of that foundation. You’ll be astonished at what you learn at www.gatesfoundation.org, so please carve out six minutes from your schedule today to visit that site with pen in hand to write notes on which health-improving, poverty-eradicating initiatives inspire YOU.
Thankfully, we don’t need billions or even millions of ringgit to help someone. When I consult with my financial planning and life planning clients who confide about their deep-seated philanthropic leanings, we chart plans that allow them to give sensible sums intentionally, regularly and strategically to improve the lot of many others across our tiny, interdependent planet!
In most people — but sadly not in all — there is a soft centre that resonates with the plight of the needy and that yearns to help them regardless of race, region or religion; colour, caste or creed.
Tragically, there are many more people who would love to give to charities out of love and a mind of concern, but can’t do so yet because they don’t even have enough for their own families.
The escalating cost of living in Malaysia is frustrating and even angering many breadwinners. These people need solutions to their money woes so they can migrate from a scarcity mentality (and reality!) to one of super-abundance.
Let’s face it, we can’t help the poor effectively if we don’t generate surpluses consistently.
In George S. Clason’s book The Richest Man in Babylon, there is a chapter entitled Seven Cures for a Lean Purse. Every personal library should have not one, but two copies of Clason’s classic, written in elegant old English: One copy to be read and reread by family and the other lent to friends.
These are Clason’s Seven Cures:
START thy purse to fattening;
CONTROL thy expenditures;
MAKE thy gold multiply;
GUARD thy treasures from loss;
MAKE of thy dwelling a profitable investment;
INSURE a future income; and,
INCREASE thy ability to earn.
If you’re inclined to purchase your own copy, but suspect it might take you time to track one down, here are my thoughts on Clason’s “cures”...
We fatten our wallets and bank accounts by establishing and heeding a budget that allows us to spend less than we earn — Cures 1 and 2.
We grow our wealth prudently and effectively by saving and investing based on professional advice and by avoiding (like the plague!) get-rich-quick schemes that promise astronomical returns. You see, the only ones who consistently grow rich from such scams are the scoundrels who initiate them — Cures 3 and 4.
We should aim to buy our own homes and to eventually pay off our mortgages. We should also transfer most of the inherent economic risks of living to reputable insurers through cost-effective life and general insurance policies — Cures 5 and 6.
Lastly, we must recognise that our minds and our bodies are our most valuable assets. Therefore, it is smart for us to care for both by investing in career-enhancing and body-strengthening initiatives — Cure 7.
If we do all this well, we will boost our innate capacity to help ourselves, our loved ones, and deserving strangers in profound need.
The writer, Rajen Devadason is a Securities Commission- licensed financial planner, professional speaker and author. Read his free articles at www.FreeCoolArticles.com. He may be connected with on LinkedIn at https: //www.linkedin.com/in/rajendevadason, Twitter@RajenDevadason, and rajen@RajenDevadason.com