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The Wise Young Man and His Money

Posted in Daily Observations, Malaysia Personal Finance |

While I was running my banking errands in SS2, I decided to take short break in one of the nasi kandar outlets and had a teh-o-ice. That’s when I had a short encounter with Uncle Chan, a man in his mid-fifties. In a less than 30 minutes conversation, he mentioned about how he would often deny the materialistic pleasures proposed by his children, until they have the capabilities themselves to earn their rights to enjoy the finer things in life.

He also mentioned something that summed up quite nicely the art of accumulating wealth, “The wise young man is not the one who can earn big income, but wise is the one that can save a big portion of his meager income.”

Very wise words indeed.





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  • http://lokeaiaberhad.blogspot.com/ LOKE

    Ya, what he said is absolutely right. My uncle also told me that long time ago. Only people who have a huge amount of savings (not income) can be considered as rich…

  • http://moreincome4malaysian.wordpress.com moreincome

    The key would be balance.

    I suppose no one wants to save and save and then pass away leaving everything to the kids to fight over.

    Cheers

  • http://lokeaiaberhad.blogspot.com/ LOKE

    moreincome, you are right. Maybe we can learn from Warren Buffett and other rich people in US when dealing with our estate so that our children have nothing to fight over.