Why Saving Rate is the Most Important Factor to Building Wealth

I always thought that to become wealthy, you will need to invest. Furthermore, the annual returns from your portfolio determine how much wealth you can build. But I realize something more important than performing great in the investment world. This does not require knowledge about the financial world, but it is more of a character and discipline. Yes, it is indeed true that investment return is essential to building wealth.

Nevertheless, this primary method is the most crucial factor in successful investing. Do you want to know what it is? Your discipline and determination of how much you are willing to save up each month from your income is the most important factor in becoming wealthy. This article will talk about why the saving rate is the most critical factor to building wealth. I will also talk about how the saving rate is why I can become wealthy today.

My New Bedroom Workstation - 'The Famous Table'

People that have been reading my blog know that I am setting up a workstation in my bedroom. I really need this workstation for my bedroom since I want to be more productive during the nighttime. I believe having the convenience of working in my bedroom will help me be more hard-working. Before, I could not do any work when I was just hanging out in my bedroom nighttime. I'm too lazy to go to the office since I don't want to dress up. Unlike having a workstation in my bedroom, I can keep working even when I only wear my underpants.
 
The table I have set up uses the classical theme design. Personally, I prefer minimalist design more. However, because my parents' house is a classical design, I have to match it with that theme. Also, this table compares the theme of my other furniture in my bedroom. All of the furniture in my bedroom looks uniform and matches each other. I have been waiting for this workstation for a very long time due to Covid-19 Pandemic. However, I was finally able to persuade my parents to make one.
 
I know this topic is not related to investment or personal finance, but because this is the work setup that I will use to build my career life and my journey to financial freedom, I will talk about it. After all, this workstation is called "The Famous Table" for a reason. This article will share all the equipment and gadgets that I use to set up my workstation. I hope this can be an inspiration for readers interested in setting up a workstation.

Why I Hate Debt So Much

Many readers who had been following my blog know that I'm not too fond of debt. I hate debt so much that I never touch it a single time in my lifetime. If I do not have the cash to purchase something in my life, I will avoid buying it at all. This means I will only buy that product until I saved up the cash for it. You probably say a little debt will not hurt, but this is exactly how it starts. You make a small purchase on your credit card, and then before you know it, you are thousands of dollars in debt.
 
Debt can be a constant pain for some people because of its sheer nature. Everyone knows that debt is a struggle, but not everyone knows the extent of impact debt problems can have on a person's life. The amount of debt that can pile up throughout your life can create serious problems. Not handling debt-related issues immediately can leave you open to worse financial issues down the road.
 
The prime reason I can create and build a wealth of my own is that I had always avoided debt all the time. I learn this trait from my father, as he also avoided going into debt as well. In this blog post, I am going to explain why debt is bad for you. Moreover, I am going to give my reasoning as to why I hate debt so much.
 

Why Moissanites are the Best Diamond Alternative

When we think about expensive rings, the first thing that comes to most people's minds is a golden band with a bright, shiny diamond gem. Of course, a diamond ring is beautiful, and anyone who owns one is a fortunate person. However, not everyone can afford to purchase a diamond-encrusted engagement ring, even if they believe that it is only suitable to get one to mark their special moment. Diamonds are expensive gemstones. It is no wonder they do not fit everyone's budget. 

I personally like diamonds myself; however, I do not have that kind of money to purchase a real one. Well, maybe I do, but I do not want to waste my money on a diamond. This is the reason why I am looking for a diamond alternative. I have my ear pierced on my left ear when I was still in high school. Recently, I am interested in wearing an earring piece again. I wanted to have an earring that is very close to a natural diamond. I am not talking about zircon since it is easy to differentiate from the naked eye. This is the reason why I recently bought myself a moissanite stud earring. I like moissanite because this gem is considered a potential alternative to a natural diamond. If you are looking for a diamond gem, but don't have the kind of money to purchase one, then this article is right for you. I am going to explain what moissanites are and why they are the best diamond alternative.

Why I'm Not Buying a New Car & Sticking to My Awesome Beater Car

I have been driving my Mitsubishi Pajero 2009 Model since I moved back to Jakarta, Indonesia, in 2013. The car used to be my brother's, and he let me have it when I move back to Indonesia. The car is quite old now for it has been used for almost 12 years now. I am planning to keep using this car for another 5 to 10 years ahead. My parents did offer to buy a new car for me; however, I decline the offer. I believe the car I have been using is still fine and runs perfectly. Many readers are probably wondering why I don't get myself a new car since I'm well-off now. The reason for this is because I still want to focus on building my personal wealth. I find buying a new car doesn't give me the satisfaction I want. In this blog post, I will talk about why I don't want to switch to a newer car. Moreover, I will mention my reasoning as to why I love my Mitsubishi Pajero so much.

Why I'm Not Moving out from My Parent's House

Since I moved back to Jakarta, Indonesia, I have lived in my parents' house since my studies in San Francisco. I always wanted to own a place of my own since I want to design my own home using minimalistic design. My parents' house has a classical theme design which I don't really like. However, I still force myself to live with my parents and plan to stay with them for a more extended time.

I know I am already a millionaire status by the age of 31. Today's personal net worth (April 2021) of mine is about $1,300,000 USD when I combine all my assets from the United States and Indonesia. Many of you readers are wondering why I'm not moving out from my parent's house and buying my own home. It's true, I believe I am considered wealthy now, but I am going to tell you my reason why I'm not ready to live on my own. In this article, I will explain why I'm not moving out of my parent's house. Moreover, I am going to explain my plan for how I can buy my own home.
 

New Year 2021 Resolution (My Personal Plan & Goal for the Year)

Merry Christmas and Happy New Year, Everyone!! It is now the year 2021, and I hope this year will be better than the previous one. I hope this year will be great for all of us. I am glad that I was able to go through 2020 without any significant problems. I had stuck with my financial plan, such as saving and investing every month. Even though 2020 was not a great year since we faced Covid-19 Pandemic, and the problem is not yet solved, my portfolio has performed pretty decent. 

 
2021 is a new year for all of us, which is the time to start something new. I realized that I am getting older every year, and I want every beginning of the year to begin with a New Year resolution. I want to have a goal that I want to achieve something for this new beginning. In this article, I would like to share my goal and plan for this fresh start to the year. I will also explain my career and business plan to increase my income and what I'm going to do with my stock portfolio investment. 
 

Why Living in Indonesia is an Advantage for Me to Build Wealth

Jakarta, Indonesia, is my hometown. This is the country where I was born. However, I was mostly overseas, living in Singapore and the United States when I was young. It was a privilege for me to receive my education from developed countries. If it wasn't because of my father working hard, I wouldn't get this kind of opportunity.

After graduating from San Francisco State University with a finance major, I decided to move back to Jakarta, Indonesia, to pursue my career. I did regret coming back too soon since I wasn't making the kind of income I was hoping for. I should have tried to apply for a job in the United States after graduating from university.

 

It has been almost 8 years since I moved back to Jakarta, Indonesia. I did think about how my life would be if I had stayed in the United States instead of moving back to Jakarta, Indonesia. I know I could have earned and accumulated wealth if I had a decent paying job in the United States. However, after doing some critical thinking and comparison, I concluded that deciding to move back to Jakarta was the right thing for me to do.

 

I know working in my father's company doesn't generate much income for me. I could have made a better wage if I was working in the United States. However, I believe living in Jakarta, Indonesia has its own advantage for me. Despite earning a meager income, living in Jakarta, Indonesia, is still perfect for building my own personal wealth. In this article, I will explain why living in Jakarta, Indonesia is excellent for me to build my own personal wealth. Moreover, I'll explain why moving back to my hometown is the right thing for me to do.

 

The Janitor Who Became a Multi-Millionaire By Retirement

We always portray someone who is a multi-millionaire to have lavish lifestyles. Usually, we think they live in a big mansion, drives a nice sports car, and own many other expensive things. Moreover, we often believe that to become a multi-millionaire, you need to have a high-paying job such as becoming a CEO, Doctor, or Lawyer.

I was also naïve when I was still young. I always thought that to become a multi-millionaire, you need to make a lot of money. However, did you know that to become a multi-millionaire does not require many of these traits? You will be surprised to find out that you do not need to earn a massive paycheck to become a millionaire. In this article, I want to tell the story of a Vermont-based janitor and gas station attendant name Ronald Read who secretly amassed multi-million-dollar wealth. I will explain how he did it and how we can apply it in our life as well.

Want to Learn about Stock Investing & Build Wealth: 9 Reasons Why You Should Buy My Book that I'm Soon Going to Release

I have been a dividend growth investor for quite some time already. It has been a few years since I have started the portfolio and this blog. If you readers have been following my blog, you probably know that I have done pretty well in stock investing. Through discipline saving and investing, I became a millionaire on my own (not dad's wealth) at the age of thirty. I do not acquire any debt in my life and have built my personal wealth just from living below my mean and religiously investing most of my income. Moreover, I didn't reach millionaire status because I have a high-income paying job, but from managing my personal finance really well and always investing my money in the stock market.

Because I felt I made a tremendous financial achievement at the age of thirty, I felt that I wanted to share the knowledge and information with the world. I felt that many people out there are not managing their personal finance wisely and have no plan at all for their retirement. During my free time, I wrote my own book about building wealth through dividend growth investing & creating new income streams. The book's title is called "Snowball from Zero," but this is still a prototype, and changes might be applied.

I have not finished writing the book yet, but I am currently halfway through writing. So far, I have written approximately close to fifty pages, and believe I still have many things I want to write. I have designed the book front and back cover, but I might still want to edit it. My goal is to have the book finish written by the end of 2021. Hopefully, I can finish writing and have it published at that time.

The book I'm currently working on is intended for the people out there to learn basic building wealth through dividend growth investing. Moreover, it also teaches people new ways of creating a new stream of income. I really believe that the book I plan to have published is excellent for anyone curious about building wealth and stock investing. It is great for beginners and someone who already has some understanding.
 
I am really confident the book I am currently working on can help people learn the things I'm already implementing in my life. Whatever I am covering in my book is the knowledge and experience I have gone through to create the personal wealth I have right now. Yes, I have received quite a large sum of starting capital from my dad from investing in the stock market; however, I believe this book can help anyone out there start building wealth starting from zero. I want to be able to help others reach the financial freedom that many dreams of. Also, there are many things that the book covers, creating new sources of alternative income. Some of these methods are things I am also currently working on in my life. It might not pay much money now; but, I will explain the potential revenue from working on these side projects.  
 
Once I finished writing the book, I am planning to have it publish and sold. I am not planning to price it at a high price, but at a meager and affordable price. I don't want to make a lot of money from selling this book because my real intention is for people to learn how to build wealth through stock investing. Also, I want people to know and learn about the side-projects I am working on that can potentially make me a good income aside from working in my dad's company. In this blog post, I want to explain why purchasing my book is beneficial for readers out there to learn about building wealth and stock investing. Moreover, the book also covers the things you can do to create a new stream of income. Buying my book is value for the money, and it is something you should not avoid before starting investing in the stock market.

Why I'm living Below My Mean (Frugally) Despite My Wealth

Readers who have been following this blog probably know about my frugal behavior in spending money. Even though I come from a well to do family, I am still living a life below my mean. I believe in creating my own personal wealth of my own since I want to feel its challenge.
 
It has been almost seven years since I moved back to Jakarta, Indonesia, and working in my dad’s company. I started with a decent salary since working for him; however, I have not received a single raise yet. I am not complaining about it since I am only working part-time for him. In fact, I believe I am more of a freelancer in the company but still receive a monthly wage.
 
I am really fortunate and blessed to have this kind of privilege since many people out there don’t have a job. Even though my wage is quite low if comparing it with workers from the United States, my monthly wage is considered pretty good in my country.
 
Since the first day I start working with my dad, I have been very conservative with the way I spend my income. I was living very frugally back then to save up 80% of my monthly wage. However, I am now saving about 60% of my monthly wage and spending 40% of it for everyday use.
 
Many people are confused about why I am living frugally, even when I am considered wealthy. I have many friends who complain about my spending habit and think that I am overdoing it. In this article, I am going to explain why I am living below my mean. Living a life unlike many others, will eventually result in me to having a life without any financial worries in the future. I hope the things I am doing can make my parents proud of me.
 

Why is Budgeting Essential? 6 Reasons You Need a Budget

Are you curious about where your paychecks are going? Do you know how much you are spending every month? If you do not know the answer to these questions means you do not have a budget. It can be frustrating when you have no clue where your money is going.

 
A budget is an estimation of revenue and expense over a specified future period of time and is usually compiled and re-evaluated periodically. Budgets can be made for a person, a family, a group of people, a business, or about anything else that makes and spends money.
 
Budgeting might sound lame; however, this is an essential step to building wealth. Making a budget is the most important thing you can do to manage your money. You may probably associate budgeting with restrictions and a lot of hassle and headaches. However, budgeting is essential because it is a way for someone to stay organized with their money. Most wealthy people became wealthy because they have a budget they stick to. That is how they stay on top of their money.
 
I always have a budget for how much I can spend each month. Without a budget, I cannot keep track of my spending. This can lead to overspending and mishandle my money. Moreover, I will not build the wealth I have right now if it was not for budgeting. If you are one of those who never do a budget before, I will explain why budgeting is essential. Budgeting is a crucial step for someone who wants to build wealth, and it is something not to be ignored.
 

7 Genius Tips to Save Money on Clothes and Still Look Fashionable

Our society has made us unconsciously distinguish people who dress well to be more attractive than those who aren't. People who dress appropriate and fashionable are perceived more positively than those who wear in unattractive clothing. By being well dressed, you instantly become more attractive and presentable. This is especially true when it comes down to women. When men see women who dress fashionably, they tend to have a different perception of her. Dressing well helps you make a considerably better first impression. This means you're more likely to make a good first impression of yourself when you approach people. You are likely to be seen positively when you have a job interview, meet someone important, or going to events such as night outs or weddings.

I personally like going shopping for clothes since I like wearing clothes that look nice on me. Moreover, my closet is filled with so many of my clothes collection to the point where I don't even have enough space for new ones. Trust me; I love good looking clothes a lot. I feel more presentable and confident when I wear clothes that look nice and fit for me. It actually makes me feel good about myself. However, the problem arises when you are on a budget and pursuing the early financial freedom you dream of. How can you save and invest if you are spending a lot of your money shopping for clothes? Studies show that average adults spend $200 per month on clothes. That's about $2,400 a year when you multiply the monthly spending by 12 months. That's a lot of money spent on clothing, but looking more fashionable isn't always about wearing the trendiest and most expensive clothes. Moreover, you don't have to spend much to look fashionable and trendy. It's all about being smart with your money when you go shopping for your clothes. I'm going to cover this topic in this article on how you can save money on clothes in order to look fashionable. Also, I will include tips and hacks to look great in your outfits.

Dave Ramsey's 7 Baby Steps Financial Guide of Getting Out of Debt and Becoming Wealthy

Many people out there are always trying to figure out how to get out of their debt and become wealthy. They tiredly work so hard in their job but felt like they are going nowhere financially. Dave Ramsey, who is a financial mentor that wrote a book which title is "The Total Money Makeover: A Proven Plan for Financial Fitness" had inspired many on how to get out of debt and become wealthy. Before he became a financial guru, he went through the same mistakes many people go through, which is to use debt. At the age of 26, Dave Ramsey was a millionaire who used leverage (debt) to finance his real estate investment strategy. He has a real estate portfolio asset of $4 million dollars, which $3 million dollars of the asset is financed with debt. However, he lost everything two years later. He had to downgrade his financial lifestyle and felt humiliated for his downfall. It was a very tough moment for his life, which eventually changes his perspective of how he wants to live later life. He eventually worked his way out of his financial problem and became wealthy again (has a net worth of $240 million as of 2019). Now he became a multi-millionaire personal money management expert that mentors many people the problem of using debt as a tool through his talk show host and TV personality. Moreover, he has helped many people to get out debt through budgeting and invests gradually to build wealth.

I read his book and often listen to his radio talk shows on YouTube. I had learned a lot about how many Americans are stuck in debt and have difficulty getting out of the rat race. His book preaches about the simple 7 Baby Steps technique that many can easily follow to get out of debt and build wealth. Following his technique to get out of debt and acquire wealth is not a get quick rich scheme, but discipline steps that people need to follow. People who are wealthy didn't become a millionaire overnight, but through discipline spending habits, budgeting, and of course, frequent investing. I felt his teachings in his books and radio talk shows on YouTube are excellent for people who are sick and tired of being lost financially. Anyways, I know some readers here don't want to go through the hassle to read his book. Because of that, I want to point out the 7 Baby Steps that Dave Ramsey preaches that help many people get out of debt and build wealth.

8 Reasons to Drive a Beater Car

First of all, before I start writing this article, let me explain what a beater car is. A Beater Car is a car that is generally more than ten years old and one that is typically cheap to be purchase. Many people believe that driving a used old car such as a beater car is embarrassing and shows a symbol that you are not successful in life. Used cars are usually not as comfortable as brand new cars that are out in the market. A person tends to want to drive a vehicle that is new and have up to date equipment system that comes along with it. I personally like new cars that out there available in the market. However, owning a new car can cost you to slow down your journey to financial freedom and early retirement since vehicles are assets that depreciate over time. 

I am driving a beater car at the moment. The brand and model of the vehicle is Mitsubishi Pajero 2009, and it was first purchased by my dad for my brother to use in the year 2009 when my brother returned from the United States. When I came back from my education in the United States in the year 2013, my brother gave me the car and decided to purchase a new car himself. The car which he gave me to use is currently ten years old and is considered to be a beater car. The mileage on my car is approximately 85,120 mileages (137,000 kilometers), which shows that the vehicle has been driven a lot. However, I'm still driving it to this day and planning to stick with it for another 5 to 10 years. I have seen many of my friends have newer and nicer cars than mine, but I'm still content with the car my brother gave me. Despite the vehicle for being old, I feel this beater car is the right car for me to use while walking the journey to my financial goal. It is interesting to note that the reasons for and benefits of driving a beater car.

How Your New Car is Making You Poor

Since the booming Automotive Industry in early the 1950s, cars have become an integral part of our society. Buying a brand new car could usually symbolize success or achievement in life. Car companies spend billions of dollars on car advertising each year to attract new consumers, and that number is rising every year. Most new car purchasers believe that buying a new car could give them the reliability and the luxury. It feels good when others such as friends and families know that you bought a brand new car, and of course it feels better to actually drive a brand new car. I’m not against people buying new car. I myself prefer brand new cars over used one, however, if you are not financially stable, your brand new car can actually cost your future financial freedom and security. Let’s what your brand new car is really costing you.