Publishing an eBook in Malaysia is more challenging than climbing Mt. Kota Kinabalu

  Today, I want to talk about writing or publishing an ebook from Malaysia. I've been trying for a few months, and from time to time, it's more challenging than climbing Mount Kinabalu. I have a few points that I want to share with you. If you are looking to publish an ebook to build your brand name, your personal IP, or any other purposes hope this will be helpful to you. 3 Popular Online Bookstores So, let's start off with how do you publish an ebook? The first way to publish e-books is via Google Play Store. Why do I recommend Google Play Store as the first choice? Because Google Play Store are the main Android system being used worldwide. Without having a second thought, by publishing your ebook into Google Play Store, you will ultimately get the widest coverage. Even if you are an iOS user, you can still download the Google Play Book onto your phone or iPad to read it. I'll come back to the challenges related to Google Play Store later, but here you go. This is the

Studying Hard vs Financial Planning

I recently had a conversation with a university friend whom I hadn't met in 25 years. During our conversation, my friend, who has two children, mentioned an intriguing question asked by one of their children: "Why should we study so hard when the government approves a minimum wage starting at RM 1,500 per month?" My friend was stunned by this question, and I couldn't help but smile.

Determining Your Future Salary

The real question to ask is, "How much will be your last drawn salary if you start with RM 1,500 per month now?" Let's assume you begin working at age 20 and plan to retire at age 60, giving you 40 years of working life. For the sake of simplicity, we'll assume a permanent annual salary increase of 4%.

The answer is that your last drawn salary upon retirement at age 60 will be RM 7,201.50 per month!

In contrast, considering an article that suggests a fresh graduate's starting salary will be RM 2,500, and assuming a permanent increase of 4% each year, the last drawn salary after 40 years would amount to RM 12,002.55 per month!

Can You Change the Outcome?

Certainly, you have the power to change the outcome. As an astute reader, you can seek better career opportunities with different companies. Each time you choose a more promising career path, your salary and wages will increase by a higher percentage. Over time, some of you may even reach top positions within organizations, earning five, six, or even seven-figure incomes per month! If you happen to earn an eight-figure income per month, I apologize for my limited knowledge and experience in high-stakes endeavours.

Do you remember employment is Active Income?

While building your career within an organization, it is important to remember that this is considered active income. You must remain employed and contribute your time and effort to receive your salary. However, in the event of unforeseen circumstances leading to unemployment, this source of income can be lost, as many experienced during the worldwide pandemic from 2019 to 2022.

Did you remember Inflation?

Optimism regarding your future salary is commendable, but it's crucial to consider our public enemy number one: inflation. Historical government records indicate an average inflation rate of around 4%. This means that even with a 4% annual salary increase, your lifestyle won't change significantly due to the corresponding 4% increase in the prices of necessities such as food, clothing, transportation, and accommodation.

It's indeed a daunting reality and a negative side effect of urbanization.

What should you do?

This article aims to promote financial planning rather than discuss get-rich-quick schemes. I encourage you to improve your Financial Quadrant (FQ), an acronym for financial intelligence. Regardless of whether your income is in the four, five, six, or seven figures (except, perhaps, for the ultra-rich), you will face similar challenges. Managing your finances effectively is a key solution. Numerous books offer insights on financial planning, providing real-life examples and different approaches. I recommend reading them to enrich your knowledge. Although theories may vary, here are four simple steps to get you started:

  1. Assess your current financial situation.
  2. Define your financial goals.
  3. Put your financial plan into action.
  4. Monitor and review your financial plan.

On the other hand, it is time to create multiple sources of income, whether it's active income or passive income. If one source alone can't fill up the bucket, then you have two options: either change to a bigger pipe or build a few more pipes. You got it?

The PRUVenture Manager program is one solution that can help you build your income faster than the inflation rate. Moreover, the sky is the limit, and your rewards are based on your hard work. If you have even a slight interest in venturing into entrepreneurship in the financial industry, you can check out this website and fill in the details.


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