Success Tips: How to Buy a Car and House in 5 Years

Hong Kong billionaire Li Ka-Shing shares some of his money wisdom, outlining an inspirational five-year plan to improve one’s lot in life. Mr. Li is the richest man in Asia with a net worth of $28.8 billion. From high school dropout to self-made billionaire, Li came from very humble beginnings when he was growing up in China. He wrote an article a while back outlining a plan that anyone can follow to be able to buy a car and a house within five years; something like The Art of War for how entrepreneurs and success seekers should act. That article was recently translated to English by Edmund Ng of CeoConnectz. Check out and study these eight points from Li Ka-Shing to master the art of success.

1. Always have Cheap but Healthy Diet.

The first set of funds is used for living expenses. It’s a simple way of living and you can only be assigned to less than twenty dollars a day. A daily breakfast of vermicelli, an egg and a cup of milk. For lunch just have a simple set lunch, a snack and a fruit. For dinner go to your kitchen and cook your own meals that consist of two vegetables dishes and a glass of milk before bedtime. When you are young, the body will not have too many problems for a few years with this way of living.

2. Buy lunch for people more important than you.

Second set of funds: To make friends, expand your interpersonal circle. This will make you well off. Your phone bills can be budgeted. You can buy your friends 2 lunches a month. Who should you buy lunch for? Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who have helped you in your career. Make sure you do that every month. After one year, your circle of friends should have generated tremendous value for you. Your reputation, influence, and added value will be clearly recognized. You’ll also enhance your image of being kind and generous.

3. Become a bookworm.

Third set of funds: To learn. Monthly spend about RMB 50 to RMB 100 to buy books. Because you don’t have a lot of money, you should pay attention to learning. When you buy the books, read them carefully and learn the lessons and strategies that are being taught in the book. For each book, after you read them, put them into your own language to tell the stories. Sharing with others can improve your credibility and enhance the affinity.

4. Grow Yourself by Traveling.

Fourth set of funds: Use it for holidays overseas. Reward yourself by traveling at least once a year. Continue to grow from the experience of life. Stay in youth hostels to save cost. In a few years you would have traveled to many countries and have different experiences. Use that experience to recharge yourself so that you’ll continually have passion in your work.

5. Save and invest.

Fifth set of funds: Invest. Save the $500 in your bank and grow it as your initial startup capital. The capital can then be used to do a small business. Small business is safe. Go to wholesalers and look for products to sell. Even if you lose money, you will not lose too much money. However, when you start earning money, it will boost your confidence and courage and have a whole new learning experience of running a small business. Earn more and you can then begin to buy long-term investment plans and get long-term security on your financial wealth being of yourself and your families. So that no matter what happens, there will be adequate funds and the quality of life will not decline.

6. Learn to sell like a wolf.

It would be great to find a part-time sales job. Doing sales is challenging but it’s the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to use for the rest of your career. All successful entrepreneurs are good salespeople. They have the ability to sell their dream and visions. You’ll also meet many people that will be of value to you in the later part of your career. Once you’re in sales, you will also learn what sells and what doesn’t. Use the sensitivity of detecting market sentiments as a platform for running your business and in the identification of product winners in the future.

7. Don’t wear clothes you can barely afford.

Try to buy minimal clothes and shoes. You can buy them all you want when you’re rich. Save your money and instead buy gifts for your loved ones and tell them your plans and your financial goals. Tell them why you are so thrifty. Tell them your efforts, direction and your dreams.

8. Learn from others by offering to help them.

Businessmen everywhere need help. Offer yourself to do part-time work for any kind of opportunity. This will help to hone your will and improve your skills. You will start to develop eloquence and soon, you’ll be closer to your financial goals.

9. Start planning A.S.A.P.

Life can be designed. Careers can be planned. Happiness can be prepared. You should start planning now. When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside. This is the art of living. When you are poor, spend money on others. When you’re rich, spend money on yourself. Many people are doing the opposite.

10. Don’t let your ego rule you.

When you are poor, be good to others. Don’t be calculative. When you are rich, you must learn to let others be good to you. You have to learn to be good to yourself even more. When you are poor, you have to throw yourself out in the open and let people make good use of you. When you are rich, you have to conserve yourself well and not let people easily make use of you. These are the intricate ways of life that many people don’t understand.

11. Don’t ever flash your wealth to others.

When you are poor, spend money so that people can see it. When you are rich, don’t show off, but silently spend the money on yourself. When you are poor, you must be generous. When you are rich, you must not be seen as a spendthrift. Your life would have come full circle and reached its basics. There is tranquility at this stage.

12. Discipline yourself and stay focused.

There is nothing wrong with being young. You don’t need to be afraid of being poor. You need to know how to invest in yourself and increase your wisdom and stature. You need to know what is important in life and what is worth investing in. You also need to know what you should avoid spending your money on. This is the essence of discipline. Try to avoid spending money on clothes but buy a selective number of items that have class. Try to eat out less. If you do go out to eat, make sure it’s for lunch or dinner and always foot the bill. When buying people dinner, make sure you buy dinner for people who have bigger dreams than you and who work harder than you.

13. Make it a Habit.

No matter how much you earn, remember to split your salary into five parts. Take care of your body so that it will still be in good shape. Invest in your social circle so that you will constantly meet new people where you can learn new knowledge from. Expanding your network will also have an important impact in how much you earn eventually. Travel every year and expand your horizons. Also keep abreast with the latest developments in the industry. If you follow this plan diligently, you will soon see big surplus in your funds.

14. Always Smile.

Being able to smile when being slightly misunderstood is good upbringing. When you’re wronged and you smile with calmness, it is generosity. When you’re being taken advantage of and you can smile, you’re being open-minded. When you are helpless and you can do a philosophical smile, you’re in a calm state. When you’re in distress and you can laugh out loud, you’re being generous. When you’re looked down and you can calmly smile, you’re being confident. When you’re being jilted in relationships and you can smile it off, you’re being suave.

Whatever happened in the past is over. Do not dwell on past mistakes. There’s no point crying over spilt milk. Everybody makes mistakes. It’s what you learn from the mistakes, and promising yourself not to repeat those mistakes that matters. When you miss opportunities, don’t dwell on it, as there are always new opportunities on the horizon. There are many people who are struggling to make ends meet. It doesn’t matter if you are rich or poor. There are lessons for all to learn from Li Ka Shing.
Apply Ka-Shing’s wisdom and you will buy a house and car in no time!