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

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

#61

Post by angersock »

coldtea wrote: post #59
Shivetya wrote: post #54

Earlier quoted context omitted.

Where I work you cannot gift your superiors and lunches are a gift. You can gift downward.

> Where I work you cannot gift your superiors You'd be surprised. There are lots of things an inventive employee can do. Official rules aren't everything.

I'm rather a fan of getting work done ahead of schedule, presenting me with interesting problems, learning new technologies, and presenting sound arguments why my idea is bad/could be improved.

I like my team.

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

#62

Post by goatforce5 »

yen223 wrote: post #12
goatforce5 wrote: post #6

His pro-tip seems to be to get a 150% pay rise after 12 months.

To be fair, going from monthly income of RMB2000 to RMB3000 in a year is not a particularly difficult task. Most corporate types will get that just by showing up.

> By the second year, your income should be increased to at least RMB 5,000. Minimum it should be RMB 3,000, otherwise you would not be able to keep up with inflation.

He's saying to expect to go from RMB 2,000 to _at least_ RMB 5,000.

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

#64

Post by mcguire »

apalmer wrote: post #20
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…

For all the valid criticism you have pointed out, this doesnt make his advise invalid. In fact that seems to be at the core of his advise... the key take away is the majority of your efforts should go to investing in increasing your social circle, and making use of this social circle to advance yourself... like it or lump it or even find it distasteful but it is consistent and rational advise... and it worked for him…

It's never what you know. It's always who you know.

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

#66

Post by mcguire »

theboss wrote: post #28

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, thi…

Want to lose weight? Don't eat so much.

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

#67

Post by SyneRyder »

collyw wrote: post #45
yapcguy wrote: post #39

Earlier quoted context omitted.

Don't forget TOM.COM. His nickname in Hong Kong is "Superman" so everybody trusted him. During the first dot.com he jumped on board the IPO wagon resulting in mom and pop investors getting absolutely fleeced. I think after that episode people began to see him truly for what he is: just another rich guy playing the politicians to extend his empire, built mostly on property. Another tidbit. His younger son, Richard Lee…

You got to love all these baby boomer aged investors giving advice on how to get rich. Most my age never got the chance to buy property ridiculously cheap, and are now having to rent it from the boomers.

Not sure how old you are, but did you consider property in Florida or Detroit during the global financial crisis? Planet Money had the story of a girl who bought a house for $12,000 and rents it at $700/month:

http://www.npr.org/blogs/money/2012/03/09/148218539/this-14-...

I'm not saying it's easy (hey, I didn't do it myself). But there have been opportunities. You've got to put the effort into finding the opportunities & be brave enough to jump in & take the risk.

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

#68

Post by zimbatm »

angersock wrote: post #61
coldtea wrote: post #59

Earlier quoted context omitted.

> Where I work you cannot gift your superiors You'd be surprised. There are lots of things an inventive employee can do. Official rules aren't everything.

I'm rather a fan of getting work done ahead of schedule, presenting me with interesting problems, learning new technologies, and presenting sound arguments why my idea is bad/could be improved. I like my team.

That's because your premise is that good conduct will be rewarded. Depending with whom you work with it also puts you in a good position to being exploited.

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

#69

Post by phaus »

jfasi wrote: post #49

I find it fascinating that that the consensus among the responses in this thread seems to be somewhere between Li Ka-Shing being a hypocrite, that buying food for people richer than you is crazy, that his advice is useless, etc. Sure, there are cultural incongruities. Americans don't understand buying lunch for your superiors, and the advice to beat yourself up if you fail to see progress is directly opposed to the "…

>Americans don't understand buying lunch for your superiors.

More wealthy/higher ranking/socially powerful/popular/lucky != superior.

I occasionally buy lunch for my friends and co-workers out of mutual respect and a genuine desire to show them that the relationships we share are appreciated. If one of them happens to be my supervisor, so be it. But there has to be a mutually respectful relationship between us.

I'd also have to seriously question the character of anyone who, being aware of the fact that they make multiple times your income, would still allow you to buy them lunch (Unless it was a trivial amount).

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

#70

Post by phaus »

coldtea wrote: post #59
Shivetya wrote: post #54

Earlier quoted context omitted.

Where I work you cannot gift your superiors and lunches are a gift. You can gift downward.

> Where I work you cannot gift your superiors You'd be surprised. There are lots of things an inventive employee can do. Official rules aren't everything.

In some cases you might be able to circumvent the rules, but in others you would end up getting your boss fired if they accepted the gift.
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