Along my own financial journey and in my hunger to achieve financial freedom, I have attended numerous seminars, conventions, courses and training workshops – to learn and to be equipped with financial management knowledge that can help me move a step closer to my dream. Though I have learnt much, I was still unable to find a financial model that truly fits me.

Frustrated, I embarked on a project of journaling, to track, chart and discover for myself a financial model that may just work well for me. After 6 long years of diligent hard work and keeping a close tab on my personal values, habits and attitude towards money and wealth, I embarked on a journey of self-discovery and created the 3 highly accepted financial models – 33, 35 and 37.

Financial Model 33 (Deadly)

Financial Model 33 is used by businessmen, many sole proprietors, commission-agents and even high-income executives.  This financial model is considered deadly because of its focus on the priority of creating a lifestyle that is supported by liabilities. This financial model gives very little thought and consideration to the need to save up for the future. It is about establishing a lifestyle that is for today’s enjoyment and not accumulating for tomorrow’s needs.

As a result, this financial model will create:
– Poor or Negative cash flow
– Little or No Income Generated Assets and eventually,
– No Passive Income

With this financial model 33, you will find yourself financially strapped, having to work hard and yet being unable to achieve financial independence and fulfil your lifetime financial goals and objectives.

If you truly desire a better and more promising financial future; if you think that your future is worth it; and if you think that you have been caught in the deadly Financial Model 33, make a commitment to move away from it. Start exploring the other 2 financial models to see if they will help you move a step closer to your preferred financial position.

“The rich allocate their Time, Energy and Money efficiently, in ways that are conducive to building wealth.”
-The Millionaire Mindset

Financial Model 35 (Pay Yourself First – F2)

Financial Model 35 has been applied extensively by people in employment- especially those in Singapore and Malaysia, where there exists a compulsory system of savings through the central provident funds. With such mandatory savings being instituted by the government for every employed individual, a minimum level of savings will be achieved. Over the years, we have witnessed the power of such systems at work. Today, a vast majority of the population are able to ‘own’ a home because of this systematic and disciplined way of putting money aside every month. What truly matters is really not the interest you will get on your savings in the central provident fund system. Rather, it is the compulsory savings methodology that helps you accumulate wealth over the years for various purposes like:

– Making the down-payment for your first home purchase
– Making the regular repayment for your home mortgage
– Making the premium payment for your health and medical insurance

– Making the payment for hospitalization and medical treatments
– Funding your children’s tertiary education fees
– Providing yourself with a retirement pension

To ensure that you are able to enjoy the quality of life that you desire, you have to determine the cost of your standard of living and the capital needed to fund such a lifestyle for the duration of your life expectancy.  In fact, many assume that with such an excellent central provident fund system, they need not set aside additional savings to provide for future needs.

How wrong is that!
If you have saved nothing more than the amount that is compulsory under the central provident fund system, you will find yourself trapped in a highly illiquid savings account that does not generate an interest high enough to enable you to accumulate wealth over the long term. In order to accumulate wealth, you need to save at least 30% of your annual income flow in an IGA Portfolio that will generate a decent rate of return without taking unnecessary risks. Under the Financial Model 35, you are barely meeting the basic level of savings. With the rising costs in many areas, from GST to education, fuel and housing prices etc, you cannot afford to be careless with your income and savings allocation. Financial Model 35 will keep you at the mere subtenant level only.

To get to an ideal position – let’s move to Financial Model 37.

“The rich allocate their Time, Energy and Money efficiently, in ways that are conducive to building wealth.”
-The Millionaire Mindset.

Financial Model 37 (Paying Yourself First – W2)

Financial Model 37 is my best and favourite model. This model applies the time-tested and proven principle of “Pay-Yourself-First”. Through a systematic and disciplined way of controlling your spending habits and putting a portion of your income into an IGA Portfolio every month, you will create a substantial IGA Portfolio that will generate an impressive stream of income flow over time.

To succeed in this financial model, you must be focused on and be clear about your financial goals and objectives. You must not be distracted. Apart from putting a portion of your money to work for you every month, you must also set aside a portion towards a debt reduction or debt elimination program. By reducing the amount you owe to the financial institutions, you are effectively turning the opportunities around for yourself- from working for the banks (through the payment of interest levied on your loans), to working for yourself (through the returns generated from your IGA Portfolio).

The faster you are able to eliminate all your liabilities, the earlier you are able to achieve financial freedom. The real sense of financial freedom comes from you being debt-free – no longer a slave and no longer held bondage to the liabilities which you are obligated to repay. No longer will you need to have the lingering fear of when the next economic crisis may hit, or the question of “What if you lose your job tomorrow?”, nor the fear of having a substantial pay cut due to company restructuring. Indeed, you will truly be free!

Financial Model 37 allows you to better position yourself for market opportunities. It allows you to be in an advantaged position to capitalize on investment opportunities and allows you to stay resilient in market shake-ups, times of volatilities or uncertainties. Financial Model 37 allows you to stay on-course towards achieving lifetime success.

Let us start your financial journey right with Financial Model 37.

“The rich allocate their Time, Energy and Money efficiently in ways that are conducive to building wealth.”
-The Millionaire Mindset.

The road to perfection is always under construction.
Our financial journey is long – considering the number of years we need to provide for ourselves, our family and our loved ones. Our timeline is dynamic – considering the changes that will take place at different stages of our lives, the rapidly evolving economic environment around us and the changing structures of corporate organizations in the midst of profit pressures and shareholders’ expectations. Our timeline is uncertain as an old adage goes:

“There is no greater certainty than the certainty of death. There is no greater uncertainty than the moment and timing of death.”
Next I will talk about the Financial Wealth Model.


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