In this video, I react to Mr Money TV’s video on why Malaysia is so behind Singapore. Then I’ll also give you 4 real solutions on how to improve your life.
Mr Money TV’s video: https://youtu.be/O96_-d0zYn0
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0:00 – Intro
0:25 – Summary of Mr Money TV’s video
Mr Money TV pointed out a few reasons why Malaysia is so behind Singapore, eg Singapore is more focused on developing human capital, has good teachers, civil servants have better pay, has better housing policy. Then he gave a few solutions, e.g. help out with your kids’ education, make learning fun, encourage children to mix around with kids from other ethnic background, and pay your employees well.
2:20 – My thoughts on his video
Even though his solutions are good, it does not focus on how to improve life for the viewer himself. I recommend reading a book called “Who Moved My Cheese”, in which the summary is if you can step out of your comfort zone, you will have a better life. Instead of focusing on things that you cannot control, it’s better to focus on things that you have control of.
3:56 – Migrate elsewhere
This is the easiest method, by moving elsewhere, you will have a better life. However by doing so, you will significantly cut down the time that you can spend with your parents.
5:29 – Upgrade yourself
How much you can earn depends on how much value you can provide. If you are just a food delivery person, you will earn lesser than a programmer, or team lead. Hence you will need to upgrade yourself.
There’s 2 ways to do so, you can either attend courses or college, that would cost money. The other way is to learn on the job, that way you will get paid while learning at the same time. While working don’t just do what you are paid to do, if you want to upgrade yourself, you need to take on as many responsibilities as possible to gain experience.
7:28 – Start investing
A survey found that almost half of Malaysians do not invest. The cumulative inflation rate has been going up while the disposable income is not really going up. This means that if you don’t invest your money, your money will be eaten up by inflation.
The reason most people don’t invest is because they are afraid of losing money. However, as long as you invest in good companies, you will do well over the long term. There are lots of YouTube channels where you can learn how to invest, like Graham Stephan, Andrei Jikh, Mr Money TV, Spark Liang, Suyin and many more.
9:14 – Upgrade your circle of friends
You are the average of the five people you spend the most time with. This means that if you upgrade your circle of friends, you will have a better life.
The easiest way to meet people is to attend events. Otherwise you can connect with other people online through forums or chat groups.
*Some of the links and other products that appear on this video are from companies which Kelvin Learns Investing will earn an affiliate commission or referral bonus.*