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Li Ka-Shing teaches you how to buy a car and house in 5 years

therealsingapore.com

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Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#21

Post by sergiotapia »

ck2 wrote: post #3

So: 1. don't be unemployed or under-employed (he clearly says it is your fault if so) 2. don't get sick, not mentioned anywhere what happens then, does HK have universal healthcare? This sounds a bit like McDonald's financial advice to their employees http://www.nbcnews.com/business/personal-finance/mcdonalds-f... btw, this guy made his money by buying cheap real-estate and got lucky when prices went up: http://en.wi…

"Gentlemen, when I first started Reynholm Industries I had two things in my posession: A dream and six million pounds."

http://www.youtube.com/watch?v=UxVivkXUfdU&t=15

Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#24

Post by apalmer »

russell_h wrote: post #16

I actually like his categories: 1. Living expenses - 30% 2. Networking - 20% 3. Education - 15% 4. Travel - 10% 5. Savings - 25% But his living expenses category seems to exclude housing costs - is there some cultural peculiarity that accounts for that?

Probably the fact its somewhat expected for asian youths to live at home with their parents until they are well established

Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#25

Post by ck2 »

ctz wrote: post #14
ck2 wrote: post #3

So: 1. don't be unemployed or under-employed (he clearly says it is your fault if so) 2. don't get sick, not mentioned anywhere what happens then, does HK have universal healthcare? This sounds a bit like McDonald's financial advice to their employees http://www.nbcnews.com/business/personal-finance/mcdonalds-f... btw, this guy made his money by buying cheap real-estate and got lucky when prices went up: http://en.wi…

HK has one of the best public healthcare systems in the world (modelled after the NHS before handover, and benefiting from HK's prosperity after), and as a result does extremely well in infant mortality and life expectancy metrics.

This is actually great to hear. Now why doesn't the US, sigh.

Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#26

Post by seszett »

naterator wrote: post #15

Suppose your monthly income is only RMB 2,000, you can live well. I can help you put money into five sets of funds. The first $600, second $400, third $300, fourth $200, fifth $500. Da fuq? Are we talking about renminbi or dollars here? Either way... terrible article.

the "$" sign is often used as a general currency sign.

Since 600+400+300+200+500 == 2000, the article is obviously talking about renminbi. And it doesn't matter a lot.

The writer probably didn't have a 元 or a ¥ on his keyboard and didn't know about ¤.

Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#27

Post by kstenson »

ck2 wrote: post #3

So: 1. don't be unemployed or under-employed (he clearly says it is your fault if so) 2. don't get sick, not mentioned anywhere what happens then, does HK have universal healthcare? This sounds a bit like McDonald's financial advice to their employees http://www.nbcnews.com/business/personal-finance/mcdonalds-f... btw, this guy made his money by buying cheap real-estate and got lucky when prices went up: http://en.wi…

Also it helps when you're able to build a huge monopoly in hong kong http://www.economist.com/node/413357

Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#28

Post by theboss »

I don't see why a lot of people disagree with his advice. Perhaps it is the words he uses. These are his basic divisions of cash.

1. Live cheaply. Don't waste money where you don't need to.

2. Expand your network by being nice and friendly to people.

3. Learn and invest in your future.

4. Take time off, travel the world and expand your horizons.

5. Save money. This is ideally used to start your dream. In reality, this can be used in times of trouble.

What's so bad about that? I think this is good advice for anyone trying to ``make it''.

Re: Li Ka-Shing teaches you how to buy a car and house in 5 years

#29

Post by daliusd »

ck2 wrote: post #25
ctz wrote: post #14

Earlier quoted context omitted.

HK has one of the best public healthcare systems in the world (modelled after the NHS before handover, and benefiting from HK's prosperity after), and as a result does extremely well in infant mortality and life expectancy metrics.

This is actually great to hear. Now why doesn't the US, sigh.

US has reasonably good system IMHO just a little bit expensive.
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