LEE KUAN YEW DONATED ALL HIS EARNINGS SINCE 1991 TO CHARITY

Dear Editors,

I saw this and thought it is good to share with fellow Singaporeans. This excerpt is from Lee Kuan Yew’s book “Hard Truths to Keep Singapore Going” [Pg 120].

“This is to give you an idea of what my market value is worth,” said Lee Kuan Yew as he handed us some papers. Listed in the printouts were his earnings from his memoirs, speaking engagements and appointments to various advisory boards since stepping down as Prime Minister in November 1990. He has donated all of it – without taking any tax deductions – to charity, with the bulk to three educational endowment funds. Since 1991, he has donated almost $13 million to charity (S$12.2 million and the rest in various currencies).”

Is this proof that Lee Kuan Yew was a man unconcerned with money and money mattered little to him?

Justin And Kristina Martin Surpass $1 Million In LIMU Earnings

The average Top Earner in Direct Selling is earning approxiately $20,000 per month / $240,000 per year based on 8,000+ ranks and 500+ distributors are making $1+ million a year.

Below distributor earnings are based on our Confidential Top Earner Form, public sources, conventions, up and downline information and are estimated due to the dynamics in pay plans.

Business For Home collects top earners data since year 2007 and we publish on a daily basis important Direct Selling News.

Active distributors are using this website to introduce prospects into the world of Direct Selling and to show what is possible.

Theresa May urged to rethink new £35,000 earnings threshold for non-EU migrants as teachers face deportation

Migrants from outside Europe who have lived in the UK for more than five years will have to prove they will be paid the new minimum threshold in order to stay in the country.

Theresa May is facing calls to rethink the “discriminatory” new earnings threshold of £35,000 for non-EU migrants that could starve Britain of vital talent in the teaching, charity and entrepreneur sectors when the changes take effect in April.

Overseas workers who have lived in the UK for five years will have to prove they will be paid the new minimum threshold in order to stay in the country.

Those who fail to demonstrate earnings of more than £35,000 will be denied settlement in the UK and will face deportation according to the new Home Office policy.

The Government temporarily exempted nurses from the new rules last autumn in response to fears about widespread shortages of workers across the NHS.

But the earnings threshold could be applied to migrant nurses in the future should the Government decide to take them off the Shortage Occupation List.

Former Cabinet minister Alistair Carmichael, who was David Cameron’s Scottish Secretary before the election, told The Independent that discriminating on the basis of income would harm the UK’s place at the “forefront of the global economy”, while shadow immigration minister Keir Starmer said there were “real concerns” over how key industries would be affected.

Mr Starmer, who served as the Director of Public Prosecutions from 2008-2013, urged ministers to “look more closely” at the threshold, which is currently £20,800 – around £5,000 less than the average UK salary.

A petition launched earlier this week to try to force the Government to rethink the sharp rise in the minimum income requirements has attracted more than 2,000 signatures.

Joshua Harbord, who set up the petition on the Parliament website, told The Independent that he decided to take action because he knew a number of “incredibly upset and scared” people who were set to be affected by the changes but had no one speaking up on their behalf.

“These aren’t the benefits-scrounging, baby-sprouting terrorists that everyone seems so afraid of,” he said.

“They’re people who have worked in the UK for years, making friends and families, building homes and communities and contributing to this country’s culture and economy.”

The petition, which calls for the Government to scrap the new £35,000 threshold for non-EU citizens, could be debated by MPs if it reaches 100,000 signatures but only needs 10,000 to receive a response from the Government.

“At the very least, I want an answer from the Home Office, and for the population in general to realise it’s impossible to rationalise this insanity,” Mr Harbord said.

“I want them to take responsibility for this incredible mistake, even if they never intend to correct it or make amends.

“Ultimately, I just want my friends and the thousands of other people who face deportation to be allowed to remain in their homes and their jobs.”

Mr Carmichael, the Liberal Democrat home affairs spokesman, is writing to Ms May calling on her to publish the Government’s latest assessment on how many people will face deportation when the new rules take effect in April.

The Home Office’s own assessment of the policy in 2012 admitted that the higher threshold would have a significant impact on teachers, nurses, marketing managers and IT professionals.

Mr Carmichael told The Independent: “Britain must remain open for business – we should be looking to attract the best and brightest not turn them away.

“Discrimination based on income fails to take talent and new sectors like tech start-ups, whose staff might be paid less than £35,000, are essential to keeping the UK at the forefront of the global economy.”

The Home Office has yet to respond to a request for comment.

Pharoah’s jockey, Victor Espinoza, donates percentage of earnings to fight childhood cancer

Some people believe there is unfairness in the way the Triple Crown is run. You also could argue that it is unfair to consider a jockey a loser for falling short in the Belmont Stakes after he has won the Kentucky Derby and Preakness. Victor Espinoza, though, thinks the unfairness that really matters is any that deprives a child of a fair shot at life.

For years, the jockey who hopes to ride American Pharoah into history Saturday has been determined to do something about the latter. He donates 10 percent of everything he wins to City of Hope, a cancer research and treatment center in Duarte, California — near Espinoza’s home, and not really all that far from the dairy farm in Mexico on which he grew up as the second youngest of 12.

No one in his family suffered from childhood cancer and no one instructed him to tithe. “I just saw one kid with that disease and that’s how I changed my life. I changed the way I think. Pretty much I changed everything,” he said. “For me, health is No. 1.”

His goal is to bestow healthy hope on children in the pediatric section of the hospital. He has visited only twice because it is just so emotional. The first time, he left in tears. The next time, between his victories in the Kentucky Derby and Preakness last spring, he was all smiles before and after he distributed toys and racing silks.

“The kids 6 years old, 10 years old, it’s just heartbreaking,” the 43-year-old jockey said. “They have no idea what they’re missing in life. But believe it or not, they’re the happiest people. When I went to visit them twice, it was amazing to see them, how happy they were.”

 

Espinoza overcame midcareer melancholy a few years ago, admitting now that he almost quit racing when he was in a slump.

“I woke up one day and said this is not good. I’m not going to end my career this way,” he said. “The way I’m riding is not good. I made some changes. But the first change I made was on the inside, in my heart.”

He looks on the bright side despite realizing he arguably is known more for having lost the Belmont in 2002 aboard War Emblem and last year on California Chrome than for winning the previous two classic races with each horse. He has confidence in American Pharoah, and the horse’s owner and trainer have confidence in the jockey.

“Last year, he learned a lot,” trainer Bob Baffert said at Belmont Park Friday. “Every time I looked up, he was closing the stock market, doing this, doing that, doing TV shows. It will exhaust him. I just told him he needs to tone it down a little bit.”

Aside from imposing a curfew Friday night, Baffert’s main instruction to Espinoza has been “relax.” For his part, the jockey said the greatest lesson he has learned is this: “Not to lose.”

A win Saturday would produce a million smiles at the City of Hope.

Lessons you can Learn from the Wolf of Wall Street to Increase your Earnings

As portrayed in the Wolf of Wall Street, Jordan Belfort is an accomplished stockbroker with a taste for pretty women, yachts, Ferraris and all the fine things money can get you. He possesses fine telephone speaking skills and his ability to pitch a product or service is, for lack of a better word, ludicrously exceptional. He can sell you a product you have never heard of, and you are very sure it doesn’t exist, but you will still buy it anyway!

Belfort is indeed a man of many talents, and his blueprint to success is one that is not to be followed, unless you want cops hot on your heels! Nonetheless, the Wolf of Wall Street has a number of lessons for people who want to increase their earnings.

1. Start Your Company

It is increasingly becoming apparent that you can’t get rich working for someone. After working as a stockbroker for some time, Belfort partnered with Donnie Azoff and started Stratton Oakmont – a company they would later use to defraud unsuspecting investors and earn lots of money in the process.

If you want to earn top dollar, you will need to start your own company and grow it. Besides, it is not only Belfort who has done this. Just look at the success stories of the world’s richest people. Bill Gates founded Microsoft, Warren Buffet Started Hathaway Berkshire, Larry Page started Google and Mark Zuckerberg established Facebook.

2. Dress the Part

It is a materialistic world, this one. Even if you are a distinguished Harvard professor of financial securities, and you are dressed like a used agricultural equipment salesman, no one will give a hoot about what you have to say. When starting Stratton Oakmont, Belfort hired a tailor to make custom suits for his staff. On his part, Belfort always wore fancy suits. Since perception is everything, understand how people view you and dress accordingly.

3. Find a Specialty

Conventional business wisdom tells us investing in various industries is the ultimate way to reduce risk and earn more. But according to the Wolf, being a jack of all trades doesn’t really increase your earnings. Belfort found his way to success because he specialized in broking (or selling) penny stocks. He never switched his business model.

4. Train Your Employees

If you already own a company, invest time and money in training your employees. The more competent employees you have, the greater your chances of increasing your earnings. It matters not their academic background, but the quality and intensity of training you give them. When starting the company, Belfort basically hired people who had no training in stockbroking. But he nurtured them into stock-manipulating wolves.

Still on employees, strive to keep them happy and motivated. In celebrating his victories, Belfort threw pool-side parties for his workers, and gave Robert Kiyosaki-esque motivational speeches. A happy workforce means enhanced loyalty, too. So if the cops interrogated any of them, none will be willing to give you away! Remember the scene where Jordan, Ming and another guy called Welch are being interrogated by Securities Exchange Commission officials, and one interrogator says “Okay, you know we’ve talked to several of the employees at this firm and nobody can recall anything about the Steve Madden IPO. It’s…I think it’s odd” No, the interrogator actually thinks that’s f***ing loyalty!

5. Be Smart

This is the point where the movie stops being an inspiration. Almost all strategies employed by Stratton Oakmont are largely illegal. For aspiring stock investors, be smart about the stock market. Avoid investing in companies you know little about and be on the lookout for too-good-to-be-true deals. Jordan succeeded only so well in luring customers into IPOs of companies that never existed.

These are just some of the earning-increasing lessons you can take away from the Wolf of Wall Street. Watched the movie and think I missed something? Feel welcome to share in the comments section below.

Hardworking dad used earnings as tricycle driver to send son to medical school!

It was the best day of his life – and Marven Louie Badon Ragay wanted to make sure he shares the moment with his dad, a pedicab (tricycle) driver in Dumaguete City, Negros Oriental who worked hard so he could finish his education.

In a proud status he posted on Facebook, Marven thanked his father for supporting him throughout his studies.

Pa salamat kaayo sa imong pag-supporta nako. Ang imong abot sa pamasahero nakapalahutay nako sa pageskuwela. Congrats nimo! A pedicab driver with a son who is a medical doctor. You must be proud of me, father!

(Pa, thank you very much for your support. Your earnings from driving a pedicab helped me finish my education. Congratulations to you! A pedicab driver with a son who is a medical doctor. You must be proud of me, father!)

A father’s sacrifice

He detailed how his dad used his earnings from driving a tricycle to send him to school – not an easy feat considering how expensive it is for him to study in a private school and how small a tricycle driver’s income can be.

In Dumaguete City, the minimum fare is just P7.50; there was also a period a few months ago when it was just P6.50. One tricycle can seat around 6 people but in most cases, drivers only get to pick up one or two passengers at a given time. Moreover, there are hundreds of other tricycle drivers in the city to serve the riding public. Thus, drivers would be quite lucky if they get to earn P500 in one day.

According to RachFeed, Marven graduated from the Medical School of Silliman University, a prestigious private school in the city. Based on the school’s published tuition rates for School Year 2013–2014, a student of the Medical School with 38 units of course load pays a total of around P56,262.15 [P47,064.90 for the tuition fees and P9,197.25 in miscellaneous fees].

Truly, Marven’s dad has made a great sacrifice so his son could go to school and finish his degree in Medicine — and Marven made sure he worked hard to finish school so his dad’s sacrifice won’t be in vain.

Congratulations to both of you! You both serve as an inspiration to us all…

Should You Use Life Insurance as an Investment? 3 Things to Consider

Every once in a while we get a call on our Financial Helpline from someone whose financial adviser recommended that they invest in a permanent life insurance policy(including whole, universal, or variable universal life). The adviser’s pitch can sound compelling. Why purchase temporary term life insurance that you’ll likely never use? Isn’t that like throwing money away? With permanent life insurance, part of your premiums are invested and some of it can be borrowed tax-free for retirement, or your children’s college education, or anything else you’d like and your heirs will get a nice death benefit when you pass away. But is it really always as great as it sounds? If you listen to financial “gurus” like Suze Orman and Dave Ramsey, you’re likely to come away thinking that the only person who benefits is the insurance salesmen who reaps a big commission. As with many controversies, the truth is somewhere in between. Whether it makes sense in your particular situation, depends on several factors:

1) How much life insurance do you actually need?

This is important for a couple of reasons. First, you want to make sure you purchase as much as you need. If a more expensive permanent policy means you can only afford to buy less, it’s probably not a good idea. After all, the whole point of insurance is to make sure your family has enough to be taken care of financially if something were to happen to you. Likewise, you don’t want to be buying insurance that you don’t need either. That’s because on average, you’re likely to spend more on it than you or your family will ever receive. Think about it for a moment. The insurance company has to collect enough in premiums not only to pay out benefits but also to cover their expenses (including that nice big fat commission check your adviser could get for selling it to you) and make a profit. In fancy business lingo, your expected return on those premium dollars is negative.

2) How long will you need the insurance?

One of the main reasons that permanent insurance is so much more expensive is that it’s meant to cover you for your entire life (hence “permanent” insurance) while cheaper term policies tend to cover you when you’re younger and least likely to use it. However, most people don’t need much or even any life insurance once they retire. Either they don’t have any dependents (hopefully the “kids” will have moved out of the basement by that point) or their dependent (usually a spouse) will usually have enough income to live on from Social Security, their assets (included those they inherited from the person who passed away) and any pension survivor benefits they’ll receive. So who needs life insurance in retirement? They generally fall into three categories. The first is someone who doesn’t have enough assets to cover their final expenses (like funeral costs) and wants a small policy to cover these expenses so they don’t burden their family. The second is someone who has a dependent that won’t have enough income to live on after they pass away. For example, some people decide to choose a higher “life only” payout on their pension, which leaves nothing to their spouse after they pass away, and then use the extra pension income to pay for a life insurance policy instead. This is called “pension maximization” and can be beneficial if the person is in really good health and can get a relatively low cost policy. The final scenario is someone who has a taxable estate (currently one worth over $5 million) and wants to use a life insurance policy to pay the estate tax. This is particularly useful if they don’t want their heirs to have to make taxable retirement account withdrawals or sell a business or a piece of real estate in order to make those tax payments. Needless to say, this is a very small percentage of the population. If none of these sound like you, you probably don’t need life insurance for your entire life and a low cost term policy would likely suit you just fine.

3) Do the tax benefits outweigh the costs?

When you purchase permanent life insurance, part of your premium goes into a cash value account that can grow based on policy dividends, interest, and/or earnings from mutual fund-like sub-accounts. Each policy is different so make sure you understand the particulars of how it works before you buy it (like any investment). The main advantage is that you can borrow from this cash value for things like retirement or education expenses without paying taxes on it. So what’s not to like? First, some of these sub-account investments involve risk and you may be required to add additional dollars to keep the policy going if the investments don’t do well.  There’s a good chance that will be during tough economic times when extra money might be scarce. Second, there are a lot of fees and expenses that could eat quite a bit into your returns so make sure you know what all those costs are.