After reading Secrets of The Millionaire Mind,  I gave myself a few weeks of break to absorb the learnings from the book and then I started reading The One Minute Millionaire book. You must think I’m quite serious about becoming a millionaire with all the titles I’ve been reading. Yes of course I’m serious. Wouldn’t you want to learn how to be a millionaire too?

Anyway, whilst it took me a very short time to read Secrets of The Millionaire Mind, it took me a long while to read this one. The One Minute Millionare book is written in quite a different way to cater to the different styles that people learn from. Written by Mark Victor Hansen (perhaps you would recogise that name from the Chicken Soup For The Soul series) and Robert Allen, this book is written in two formats to cater to the styles I talked about.

On the left side of the book’s pages the content is written up as lessons on how to amass your wealth. On the right side of the book pages unfold a fictional story about a widowed mother who needs to make a million dollars in 3 months time. So depending on the kind of reader you are, you can read either of the format that suits you best, or both the formats in order to appreciate the lessons more.

Basically The One Minute Millionaire book talks about lessons on how to make money in a short period of time. And throughout the book, it also talks about how to do it the enlightened way. This was what I learned about the book before reading it. So now that I’ve completed it, do I think it is a worth while book to spend time reading and re-reading? Read the rest of this post for a review and what I think of this book.

I chose to start reading the fictional part of the book first, and then to follow through with the lessons bit. I figured that since I like reading novels, I would quickly finish reading the ficton but I was wrong. It took me very long to finish it as I didn’t find it compelling enough.

Though the story was jazzed up to make it interesting, I didn’t find it so. I actually thought it was a rather boring storyline but for the sake of wanting to know what are the lessons behind the story, I pressed on to finish reading it.

Once I was done reading the fiction, I didn’t bother to read the left side of the pages for the lessons. Ultimately I found the ideas introduced in the book to help someone make a lot of money to be nothing new and compelling. I’m not saying that only new and fresh ideas would work, but I found the lessons offered to be very general.

It is a rather disappointing read but luckily I bought this from a warehouse sale and it cost me less than RM10. I thought a big name like Mark Victor Hansen, who’s also a millionaire, would make this a great learning for me but it really didn’t turn out that way.

Having said that, anyone who’s interested to read this book and want to get it off me, feel free to do so. Pay RM3 for the book (it’s in very good condition) and the actual postage incurred, and the book is yours.

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• Do you know why you need to earn a lot of money? (7)

To read more personal finance and money related articles, visit Penny Sense.

Is it worth your time to read The One Minute Millionaire book?

I was reading this month’s issue of Personal Money magazine and one of the feature article for the month under the Investing Insights column talks about 6 Malaysian high-yield stocks that are relatively low in risk. These stocks are considered resilient and yields between 5% to 6% per annum.

They do seem to be better yielding than money sitting in the fixed deposit but are they for you?

The 6 high yield stocks are listed below:

1. Panasonic Manufacturing Malaysia – Stock price RM12.20, dividend 6.5%

2. Amway Malaysia Holdings – Stock price RM7.35, dividend 5.4%

3. DiGi.Com – Stock price RM22.10, dividend 4.5%

4. British American Tobacco (BAT) – Stock price RM45.90, dividend 5.8%

5. YTL Power International – Stock price RM2.21, dividend 6.8%

6. Guinness Anchor – Stock price RM6.54, dividend 6.3%

The stocks listed above aren’t for me. For one thing, a lot of them are very pricy! And of the 6, the cheaper stocks seem to have higher dividend payouts than the more expensive ones.

What are the resilient and high-yielding stocks in your portfolio like? Any of the above in hand already?

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To read more personal finance and money related articles, visit Penny Sense.

Are these 6 low risk but high yield stocks for you?

If you are an investor in the stock market in the past, you would 100% go through a stockbroker or remisier to do your stock trading. These days, with the advancement of technology including the improved internet security systems, you do not need a human stockbroker to do the trading for you. You can buy and sell shares online.

Most banks offer online stockbroking services these days and all you need is to sign up for an account, open a CDS account for RM10 and you can trade online. This is provided you stick to the terms and conditions of trading on that account which normally requires you to have some account balance in your banking account with the bank.

Trading via a remisier will typically cost you more in terms of fees incurred to buy and sell. Online stockbroking rates are cheaper. Of course, it comes without saying that when you have the service of a remisier, you may pass on the monitoring to the stockbroker and trust that he or she will act accordingly to your instructions. I guess that’s where the extra fees come into play versus using an online system to buy and sell stocks.

I have both, a remisier and an online trading account. But I still prefer to pay more fees and have a human do the work for me. I use the online trading account to watch the market real time as well as some other functions that come with it.

How do you trade – do you use a remisier or do you prefer to be more hands-on and go for online trading via a stockbroking account?

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To read more personal finance and money related articles, visit Penny Sense.

Are you more comfortable with a remisier or online stockbroking?

Kudos to The Edge for recently coming up with a relatively good property related site called The Edge Property. The site features property related articles, news, research reports, tips and advice, real estate deals, etc. It’s all related to the property market so what you need is most likely addressed on this site.

If you have not already visited this site, give it a look through. I’m sure it’ll be worth your while to get so much information for free. Once you register for a free account, you can make use of features to look up archives on the site, post your comments to articles, etc. Even if you don’t sign up, it’s a good read whenever you need some information on the property market outlook.

I’ve signed up and am looking forward to read and learn more about the property market from The Edge Property. I’m not a property investor nor am I looking to buy anytime soon, but I do find this site very useful to keep in touch with and learn all about properties.

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The Edge launches a good property guide website

In July I first achieved $100 earnings a month in Adsense. I then targeted the next level to make $200 a month in Adsense. Very happy and glad to say that I’ve achieved this goal in the month of September!

I truly believe in the power of the mind, coupled with determination and will power to make something work. If you have a goal and you want it badly enough, you will find all means and ways to achieve it.

Now that I’ve seen such possibilities in my Adsense, I’m also applying the same determination and focus to meet my sales target on my blogshop at Penny’s Online Shop. When I first started it in mid of May, sales were slow but steady. Over the months it has improved tremendously and I’m now beginning to track it closely to chart my growth.

I find that when I focus on the thing that I want to do, it grows. So all I need to do is to focus more on it, work hard and smart. And it is a must to always want to achieve the goal. I believe if you are not hungry about achieving the goals you set, then they probably won’t materialise.

And note that these are 2 areas that I’m making money on the internet. If you have been a non-believer about making money online, well you have to start believing it at some point. Lots of people are doing it and next to them, I’m just a little fly…

But I refuse to be that little fly for long. So off I go now to set higher targets for both my Adsense earnings and online shop!

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To read more personal finance and money related articles, visit Penny Sense.

If you want to achieve your goal, you will find all ways to do it