In­vest in your ca­reer

> From reg­u­lar em­ployee to mil­lion­aire em­ployee

The Sun (Malaysia) - - SUNBIZ -

RM700 and rental was RM2,400. I was paid RM2,800 at that point of time and to get RM1,500 clean from one prop­erty is some­thing. If I have 10 of th­ese, I lit­er­ally don’t have to work,” Faizul said.

Faizul of­ten gives talks and Open Univer­sity Malaysia ap­proached him be­cause they wanted some­one who had a de­gree, but did some­thing else in the end. Un­like most of your get rich scheme gu­rus, Faizul tells peo­ple to keep their jobs and in­vest on the side which is suf­fi­cient to make them mil­lion­aires 20 to 30 years down the road. “Some peo­ple like their jobs, and that is fine, con­tinue do­ing that. More im­por­tantly, given the in­come you get from your job, start buy­ing as­sets. The idea is to buy some­thing that pays it­self. My phi­los­o­phy and method­ol­ogy re­volves around buy­ing four prop­er­ties and within 20 years, get­ting some­one else to pay for it. “If your ten­ant can pay (rental) for the next 20 years, nat­u­rally, if you buy some­thing worth RM500,000 to­day you should have RM15,000 to RM20,000 passive in­come per month, and over 20 years, an as­set value of RM5 mil­lion. For a lot of peo­ple that is suf­fi­cient for a com­fort­able re­tire­ment,” he said.

But how vi­able is this? Faizul said that is the dif­fer­ence be­tween do­ing it with and with­out the knowl­edge. There are cer­tain tips and tricks you need to ap­ply. Do­ing it is not a big prob­lem. The key is to do it cor­rectly.

“The whole idea is buy­ing the right prop­erty that is go­ing to serve you as an as­set rather than a li­a­bil­ity. If you want to go far and do well, make sure you have the right knowl­edge be­fore you buy. Luck is where op­por­tu­nity meets prepa­ra­tion.

“There will be a day when a good deal will drop into your lap, but if you don't have the knowl­edge, you won’t know that it is a good deal. com Em­ployer Per­cep­tion of Fresh Grad­u­ates sur­vey re­vealed that 39% of em­ploy­ers said that fresh grad­u­ates have an ex­tra ad­van­tage if they have held lead­er­ship po­si­tions in their uni­ver­si­ties.

Even if you know and have the knowl­edge, if you are not pre­pared, you can­not even buy it,” he said.

Faizul was an em­ployee, self em­ployed, in­vestor and now, run­ning his own business. By far, be­ing a business owner is the most dif­fi­cult thing he has done; not ev­ery­one is born to do en­trepreneur­ship.

“I was do­ing rea­son­ably okay as an em­ployee but at the end of the day, I wasn’t happy. So I de­cided to do what I want to do. Af­ter all, there’s no point hav­ing all the money and prop­er­ties if you can­not do what you like to do most. I like build­ing things, to ed­u­cate and make a dif­fer­ence in peo­ple’s lives,” he said.

He added that he wants to raise fi­nan­cial aware­ness. He wants peo­ple to be much smarter with money, to be able to live a de­cent re­tire­ment life, and to be able to do what he is do­ing to­day.

“I work be­cause I want to work, and not be­cause I have to work. My ob­jec­tive is to have RM100,000 in monthly passive in­come dur­ing my re­tire­ment so I can es­tab­lish my own foun­da­tion to help poor and needy peo­ple.

“What they need might be a RM2,000 start-up cap­i­tal, and some form of ac­count­ing and mar­ket­ing knowl­edge. They can then run a business which gives them RM3,000 to RM5,000 a month and they can put their kids to school.

“It is putting help where it is war­ranted. But ev­ery­thing has to be self-sus­tain­ing,” he said.

Faizul tells peo­ple to keep their jobs and in­vest on the side which is suf­fi­cient to make them mil­lion­aires.

JobStreet. com coun­try man­ager Chook.

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