Dear Friends,
By now you would have heard of the YouTube hit "Oppa...Gangnam Style". If you have not where have you been? I first heard it on the radio and the phrase was catchy but I did not know what it meant. Then a friend told me what it was, a video hit from South Korea. The singer who write, produced and starred in the YouTube video is an unlikely, nerdy and paunchy singer. The music video has a very catchy tune, interesting dance choreography and it was funny.
It was only when I read the Sunday Times on 2nd September (page 36), that I realized that it was also a song that was making a socio-political statement. Please read the article for the detail. Gangnam is a district in Seoul where the rich and famous live. It represents a lifestyle that most people who are materialistic would want to have. But it also creates a distaste for for people who dislike such a lifestyle. "Gangnam Style means pretentious display of wealth" (Sunday Life). Gangnam also symbolises success. Gangnam represents an interesting perspective between success and materialism. How do you choose between the two? I would like to share my views about the subject.
Well, my take on this has always been to live within your means. Don't be jealous of others or chase after material things. You can be successful and be grounded by doing what you do well and living within your means. If you earn $5,000 a month salary make sure you live a $4,000 lifestyle and save and invest the $1,000. If earn $1,000 than live a $900 lifestyle and save $100. If your salary is $10,000 a month and you live a $15,000 lifestyle than you are in trouble. You will have a deficit of $5,000. How are you going to pay that off? Think carefully. Do you want to enjoy your life with little worry or are you going enjoy the extra $5,000 then worry for the next month on how you are going to pay it off? Do you want that additional stress or do want to enjoy life and get what you want by planning for it? If you save $1,000 a month you will have $12,000 at the end of the year and you can have a nice holiday or buy something for $5,000 and save the rest and at the end of next year you will have $19,000. In 10 years you will have $70,000 in the bank if you only took $5,000 from the $12,000 you save. If you had invested in a dividend paying stock, your capital may increase to even higher amounts if you have chosen the right amount. It si OK to aspire for expensive things but it should not be an overwhelming priority that neglect your values and people who love and care about you.
I recently walked into one of my favorite brands called E.Z. (for short). I saw a polo shirt that cost more that $1,000. While I love the brand and the cutting is really nice and the material really soft, I told myself I could buy 20-30 such Polo-Shirts under lesser known name for the next 5 years. I would invest in a jeans from E.Z. when it is on SALE but never at full price. Shirts and T-Shirts can be of a lesser known brand. I don't need to show others that I my worth by wearing expensive brands from top to toe. All us have a choice. From the money you save you could allocate some money for Charity on a monthly basis.
Stay grounded no matter how rich and famous you become. Appreciate and treasure people-family and friends. You can always earn money but it is difficult to repair damaged relationships. Don't chase material things. It will come to you when you do things right and you do the right things.
Now here is the link to the YouTube hit "Oppa...Gangnam Style"- http://www.youtube.com/watch?v=9bZkp7q19f0
Enjoy!
Cheers,
Mark
By now you would have heard of the YouTube hit "Oppa...Gangnam Style". If you have not where have you been? I first heard it on the radio and the phrase was catchy but I did not know what it meant. Then a friend told me what it was, a video hit from South Korea. The singer who write, produced and starred in the YouTube video is an unlikely, nerdy and paunchy singer. The music video has a very catchy tune, interesting dance choreography and it was funny.
It was only when I read the Sunday Times on 2nd September (page 36), that I realized that it was also a song that was making a socio-political statement. Please read the article for the detail. Gangnam is a district in Seoul where the rich and famous live. It represents a lifestyle that most people who are materialistic would want to have. But it also creates a distaste for for people who dislike such a lifestyle. "Gangnam Style means pretentious display of wealth" (Sunday Life). Gangnam also symbolises success. Gangnam represents an interesting perspective between success and materialism. How do you choose between the two? I would like to share my views about the subject.
Well, my take on this has always been to live within your means. Don't be jealous of others or chase after material things. You can be successful and be grounded by doing what you do well and living within your means. If you earn $5,000 a month salary make sure you live a $4,000 lifestyle and save and invest the $1,000. If earn $1,000 than live a $900 lifestyle and save $100. If your salary is $10,000 a month and you live a $15,000 lifestyle than you are in trouble. You will have a deficit of $5,000. How are you going to pay that off? Think carefully. Do you want to enjoy your life with little worry or are you going enjoy the extra $5,000 then worry for the next month on how you are going to pay it off? Do you want that additional stress or do want to enjoy life and get what you want by planning for it? If you save $1,000 a month you will have $12,000 at the end of the year and you can have a nice holiday or buy something for $5,000 and save the rest and at the end of next year you will have $19,000. In 10 years you will have $70,000 in the bank if you only took $5,000 from the $12,000 you save. If you had invested in a dividend paying stock, your capital may increase to even higher amounts if you have chosen the right amount. It si OK to aspire for expensive things but it should not be an overwhelming priority that neglect your values and people who love and care about you.
I recently walked into one of my favorite brands called E.Z. (for short). I saw a polo shirt that cost more that $1,000. While I love the brand and the cutting is really nice and the material really soft, I told myself I could buy 20-30 such Polo-Shirts under lesser known name for the next 5 years. I would invest in a jeans from E.Z. when it is on SALE but never at full price. Shirts and T-Shirts can be of a lesser known brand. I don't need to show others that I my worth by wearing expensive brands from top to toe. All us have a choice. From the money you save you could allocate some money for Charity on a monthly basis.
Stay grounded no matter how rich and famous you become. Appreciate and treasure people-family and friends. You can always earn money but it is difficult to repair damaged relationships. Don't chase material things. It will come to you when you do things right and you do the right things.
Now here is the link to the YouTube hit "Oppa...Gangnam Style"- http://www.youtube.com/watch?v=9bZkp7q19f0
Enjoy!
Cheers,
Mark
