Tan Kin Lian’s Blog: 3/3/13

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Just proves one more what poor disservice The Straits Times does to the public in advertising types of fake successes bordering on scams. Business owner Lee Song Teck, 33, is a goal-oriented one who cannot sit still. Just four months ago, he started a gold-trading business and is now preparing to begin three more businesses.

Still, his agenda is not as daunting as it might appear at first sight. Over the full years, I have learnt to delegate, and to create a system that allows the business to run alone within a shorter period of three months, of two years instead,’ he said. What spurs him to work hard is his drive to donate to society. Eventually, he aims to give away 90 per cent of his prosperity to charity. Money does enable you to enjoy life, however the happiness you gain from material possessions is short-lived, he said.

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He has sponsored greater than a dozen children through World Vision, an international humanitarian organization, with his new company, The Gold Guarantee, he requires his personnel in charity work. Mr Lee overran the grouped family business in pet pharmaceutical products when he was 20. Two years later, he visited Sydney for undergraduate studies and to explore living a holistic lifestyle that involved yoga, meditation, and fighting techniques. Since his go back to Singapore, the bachelor has attempted his hands at being truly a property agent and owning a fitness center and a house investment workshop business.

He in addition has committed to property and gold. Q: Are you a spender or saver? I would say I’ve been a saver before 10 years, but my mother would say otherwise. Since I turned 23, I’ve realized the need for becoming financially free and creating wealth for the sake of giving back. This is why I save and invest most of my money.

I would say that I spend just about 10 per cent of my revenue. I used to be very intense in spending on my own education, in areas such as investment, prosperity creation, business, marketing, sales, and health. 200,000 to attend seminars on these topics – more than 30 over the past 10 years.

I invest most of my money in my businesses. I do not smoke, gamble or drink, and I am not into fine eating. The only luxury items I devote to our spa deals for me personally and my friends. I buy presents for my friends also. It feels nice to be able to buy things for the social people I really like. Q: Just how much do you charge to your bank cards every month?

10,000 to my credit card per month. It’s a variety of work and personal expenses. I do not carry any credit card debt. In conditions of cash, Weekly from the lender I withdraw a few thousand dollars. Q: What financial planning perhaps you have done for yourself? I really believe in the only real property and gold, which I can see and touch, and which has real value.

I have achieved average comes back of 200 % a yr from my property ventures and some of my businesses. 200 million; when that happens, I intend to pledge 90 per cent to charity. Q: Moneywise, what were your growing-up years like? I am an only child, and I resided on a pig plantation until I used to be eight. Our plantation seemed huge, but we were one of the few poor pig farmers at the time. My father set up the pet pharmaceutical wholesale business while running the farm, and my mother helped him with the accounts.

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