Wednesday, September 14, 2011

Financial IQ: 12 Gokongwei Secrets For Long Life

Deng Xiaoping signatureImage via Wikipedia
Financial IQ Philippines Quick Hit(s):

If you have not seen this article, I highly recommend to read John Gokongwei's 12 longevity secrets.

What do you think of his 3rd secret - marry a good spouse?


What are the 12 longevity secrets of John Gokongwei, Jr.? Here are some, which I’ve observed through the years that I’ve had the great privilege to have known this business genius:


1. Never retire. Gokongwei has retired from top posts in his many companies, but he is still chairman emeritus and de facto supreme leader like a Deng Xiaoping or Lee Kuan Yew.


2. Exercise every day. He does the treadmill daily like his younger brother James Go and he likes to swim too. He is also a golfer.


3. Marry a good wife. Gokongwei has advised me that one thing I still lacked to be a true success is to marry a good wife, like he did Elizabeth Yu Gokongwei, and he said I should hurry because he wants to be a godfather in my wedding. He told me that having a good wife is not only good support for life and career, it’s great to come home daily to good rest. He revealed that ever since he got married, he has stopped going out to parties and stayed at home every night with his wife.


4. Raise good and obedient children. One reason Gokongwei is very happy is the fact that he and his wife Elizabeth have raised six children — Robina, Lance, Lisa, Faith, Hope and Marcia —  who are all obedient, hardworking and humble. No blacksheep, prima donna or spoiled brat among their kids, so no big headaches or stress!


5. Have a good sense of humor. Learn to laugh. Humor is a Gokongwei family trait.


6. Do not smoke or drink too much liquor. Gokongwei many years ago quit drinking liquor and he quit smoking the day after the 1983 assassination of Senator Ninoy Aquino due to shock at that tragic event, then he realized that he could live without smoking.


7. Take a nap every afternoon right after lunch. Gokongwei revealed that ever since his days as a young, struggling trader in Manila’s Binondo district after World War II, he always took a nap after lunch. Before, he’d just put a newspaper to cover his eyes and nap in his office chair. Years later when he became more successful, he had a small bed hidden beside his office in his former Libis factory.


8. Travel at least once a year. One of his hobbies is to travel at least once a year, looking at new places, visiting museums, getting new business ideas.


9. Never stop learning. Gokongwei is forever studying something, he is an information junkie. He always asks me stories, facts. Just before his 85th birthday, he half-seriously told his former executive assistant that he wants to study to become an archaeologist!


10. Continue venturing into new projects and new ideas. At his “retirement,” Gokongwei is still involved in thinking up new businesses and expansions for his diverse companies in eight industries. JG Summit is now among the Philippines’ top five conglomerates, but still dynamic and entrepreneurial due to Gokongwei’s drive.


11. Eat whatever you want, but have a good wife guarding your diet! At his 85th birthday party, the menu served a rarity for Chinese lauriat or Western sit-down dinners — Gokongwei’s favorite dish lechon. His wife Elizabeth also revealed that his favorite is also humba and patatim pork dishes, humba is from the Chinese hongba. He still eats pork, steak, etc., but of course with his wife often admonishing him to lessen those kinds of foods. Once when he saw his bodyguard snacking on chicharon, he said he wanted to eat that too.


12. Read everyday. Gokongwei told me he reads the Philippine STAR every morning, plus other publications, books, most especially biographies, history and on business topics.



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