Money talks is anthem for today's young professionals

JAKARTA (JP): Nobody knows who posted the sticker on the front of the bus plying the Kampung Rambutan-Grogol route. But its message -- Better to Be Rich than Poor and Ailing -- may be the anthem for today's young professionals. It seems the only fate worse than death today is an empty wallet.

A consensus backed up by the "Quick Route to Get Rich" survey conducted by Tiara in July. Respondents were not shy about revealing their yen for wealth.

It is common to hear young professionals waxing on in unwitting odes to materialism. They seem to ascribe to the motto of enjoying oneself in youth, getting rich when old and then heading to a blissful after-life in heaven. And it is get rich at any cost.

There is now a glut of how-to guides in Indonesian and English for the materially minded. Most of these books are written by foreigners, particularly authors from the land of the almighty dollar, and are not tailored for the particular needs of Indonesians.

Several years ago, there was a flood of books on multi-level marketing (MLM) as practitioners of this marketing system touted quick ways to get rich. It may well have worked, but little is heard of it today.

Any sure-fire guarantees in fattening one's bank account? Some say yes, and argue it is just a case of prioritizing one's desires.

"It is in fact more difficult to determine the size of riches you wish to grab and how soon you wish to collect these riches," entrepreneurial expert Kafi Kurnia said. "The first thing to do in your pursuit of riches is to determine how rich you wish to be and then find the way."

Old-fashioned means of getting money -- inheriting or marrying into it -- are still the most common, he said.

"I mean it. Even now, marriages of convenience are still widely practiced," said the marketing consultant for several companies and director of Interbrand Indonesia. He rattled off a list of several prominent examples of these unions, both legal and common law.

The Tiara poll seems to validate Kurnia's opinion. Marrying somebody rich or their offspring is ranked fourth, even though nobody would own up to marrying for money instead of love. But Kurnia said few people were so mercenary as to weigh concerns for wealth over probable incompatibility and heartache in the future.

For those willing to take risks, engaging in real estate speculation may be the path to riches. The greater the risk, the more likelihood of hitting a huge jackpot.

"What are your assets worth? Ten million (rupiah)? No problem," Kurnia said. He recommends buying a house in a real estate project and waiting for the right opportunity to sell.

"You can offer the house to someone else when it is in the construction stage. You can be almost certain that someone will buy the house as long as you are not greedy enough to want a 100 percent profit. Then you purchase another house, and do the same thing again."

Dabbling with stocks or foreign exchange can also be beneficial. Someone with capital market expertise may not need any funds upfront. "Can you image raking in a profit of US$10,000 a day without any capital?" asked Theo F. Toemion, a former foreign exchange player now turned financial observer.

Number two on preferences for getting rich quick was the glamorous route: landing a plum job as an actor or TV show host. Sony Tulung has been lionized as an example of the rags-to-riches entertainer.

He started out working as a salesman for a radio station, but today finds himself hosting Famili 100, one of the most popular quiz shows on TV. He can barely keep up with offers for commercials, public appearances and MC gigs. Industry sources say he is paid up to Rp 10 million for a public appearance, but Sony will only admit that his fee is "much, much more" than he had ever dreamed of earning.

Not all of the respondents measured success by the money yardstick. Some valued mastery of their own profession, the time they took to reach a career position and how long they maintained it before moving up. These may be more lofty principles, but they also set the stage for better opportunities and accompanying material rewards.

Are there shortcuts to success?

Kokaryadi, 36, has taken only seven years to become vice president/corporate planning head of Bank International Indonesia (BII). But his neat example for climbing the corporate ladder is probably not a template for others to copy.

In 1984, he was the holder of a bachelor's degree in mechanical engineering trying to find employment in the U.S. As he needed more educational back-up to find work there, he obtained an MBA. He went to work in a bank, acquiring the knowledge that allowed him to easily find a prize job in the booming banking sector at home.

Getting rich may be tough, but it is often more difficult to hang on to newly acquired wealth. Theo said many stock market players eventually watched their gains dwindle away.

Even marrying for money may be a losing game, according to Kurnia. "It turns out that many who get married to a rich person, legally or otherwise, can not cash in. The problem is whether or not you can tap the opportunity."

The above is an excerpt from the Tiara lifestyle biweekly slated to appear on Wednesday. The complete article with sidebars will be printed in that issue. It is translated here courtesy of Tiara.