Michael Jackson Died !!! What we can learn from him?
OMG. I can believe it’s true. Yes. Actually i don’t read newspaper today. I read one of my friends status post in fb about this news. In the office, i read a lot of my friends messenger status about this news. Finally i checked some news site like CNN and Reuters. Oooo God… This is really true… I’m so shocked knowing that this not a jokes. Michael Jackson was pronounced dead at 2:26 p.m. PDT after arriving at a Los Angeles hospital in full cardiac arrest. The cause of death was not known and an autopsy would likely take place on Friday.
So dramatic actually, if we follow the story of how Michael Jackson live. From him, we can learn a lot of thing. One of the most important thing i learn from Michael Jackson is how to not follow his path by falling into financial problem after retiring from his career as a singer. His lifetime record sales tally was believed to be around 750 million copies. But “King of Pop” died at age 50 reportedly awash in about $400 million in debt, on the cusp of a final comeback after well over a decade of scandal. Why? How can someone like Michael Jackson can fall into a situation like this.
Even Michael Jackson gain very lot of money from his album sales, but so poor, he don’t have a millionaire mindset. One of the most successful motivator in Singapore, Adam Khoo ever said that “If you don’t have a correct mindset, our wealth is only enough for 1 month only.” Don’t care how much money you can gain every month, if you don’t have correct millionaire mindset, your wealth is only enough for 1 month living. There are 4 level of wealthiness mentioned by Adam Khoo. And the first level (the lowest level) is :
“If you stop working now, your wealth can afford your 6 months living cost with your current lifestyle”
Yes… a lot of people often ask a question like this “How much money do we must get so we can be called rich guy?”. Noooo. the answer is not depend on how much money you have right now. But how long you can afford your lifestyle if you stop working now. Yes. This is why a millionaire mindset needed. So poor, Michael Jackson didn’t have this.
After accesed of molesting a 13-year-old boy at 1993, he faces a lot of problems. At 1995, he agreed to a deal with Sony to merge ATV with Sony’s library of songs and sold Sony music publishing rights for $95 million. Then in 2001, he used his half of the ATV assets as collateral to secure $200 million in loans from Bank of America. Not wise using his money, his financial problems continued. Jackson began to borrow large sums of money from others. One accountant testified that the singer had an “ongoing cash crisis” and was spending $20 million to $30 million more per year than he earned. Until his death, he reportedly still in debt $400 million.
From Michael Jackson life, we can learn one thing. A wealth can not calculated by its value, but from how long we can live from our savings if we stop working right now. Hopes we can learn something from this.