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MONEY & INVESTING
(Updated Tuesday, Apr 1, 2008, 05:12:12 PM to reflect the 100 most recent valid responses.)

Who handles the household checkbook in your family?
The Wife | 74%
The Husband | 26%

Which of the following ethnic groups attaches the most importance to making money?
Chinese Americans | 51%
Vietnamese Americans | 14%
Japanese Americans | 1%
Corean Americans | 30%
Filipino Americans | 4%

Which of the following do you consider to be your most important investment method currently?
Buy/Upgrade Own Home | 39%
Other real estate | 4%
Stocks/Options/Futures | 31%
Mutual Funds | 10%
Bank Deposits | 16%

This poll is closed to new input.
Comments posted during the past year remain available for browsing.

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WHAT YOU SAY

[This page is closed to new input. --Ed.]

     Although Chinese Americans do care a lot about money, I've found that they are not cheap with other people. They are not like those tightwads who, after being treated out to dinner, still stiffs the waiter in return after offering to cover the tip. Chinese people would never do that and are very generous toward other people. I don't care if that sounds like a stereotype because I know it's true.
Chinese woman

     who doesn't care about money? lots of stereotype here!!!!
     there are modest hong kong people, you guys are just bias!!
     there are lots of showy chinese who display their wealth all the time.... you guys are too blind to see!!

     I must admit, however, that although Chinese care a lot about money, they may be less materialistic than some might think. The reason is because to many Chinese people money stands for SECURITY, FREEDOM, and POWER (which are, by the way, three things that the Chinese aren't use to having in the past). Many Chinese have a lot of money, but you would not be able to tell from looking at the way they live. Chinese from Hong Kong, however, who enjoy displaying their wealth, are a major exception.
Chinese Girl

     Even though I am Chinese myself, I would have to say that Chinese people care WAY TOO MUCH about money. Many practically worship money---money is their religion. I know so many who would choose money over love and friendship anyday. I find that so sad. One good thing is that many Chinese who were born here or grew up here seem to be less crazy about money.
Chinese Girl

     Thankfully we are all different in both positive and negative forms. That's what makes life so wonderful. Be aware of it and try not to judge so harsely. Remember your good and tough times. Everything happen for a reason. There is a purpose for everyone. Success is wonderful, hard work is helpful, good deed is gracious. Be true!
-AN AMERICAN, Aged and ready

     I get this impression that rich people are rich partly because they are stingy. Once you've reached some threshold where you consider yourself rich then that's it..you count all the zeroes and make sure they stay that way. I've known some asian relatives to be this way. Anyone want to share their opinion?
Financially poor but rich with possibilities

     I noticed negative comments about Chinese people re: money, success, and material wealth. CHINESE PEOPLE ARE AWESOME SMART. The Chinese know that no one else is going to put food in their mouths or help them out when times get tough. Yes, they are culturally modest. I wish other non-Chinese wouldn't be so jealous of our success.
     To the 22 Male Chinese: I'm so proud you. It's people like you who helped the Chinese gain some semblance of acceptance in the US. You also indirectly pave the way for those coming up behind you to make it here in the US.
chinese female

     I think that all the ethnic groups attach some importance to making money. Its the balance between making money, spending and saving, and having time for family that is different with each ethnic group. It also depends on what generation. I believe that there is a strong drive in making money in those who are older, who were poor back home, who are first generation in the US, and those who are now coming to the US to make a better life.

     26 Yr old AAM...LOL !!!you and Jane are making me laugh.
Emmi

     I used to make a lot of money but I thought it would just continue forever. Now it's all gone and I have a hard time making it. Save and invest while you're young. It doesn't keep coming. Heed my words, especially you young smartass tech guys.
--Wiseman, 47

     ..and then god created money!

     It's what makes the world go round!

     hey 22 year chinese male ignore Jane. Are you gay?
26 year old AAM

     Many Chinese have very good business skills that is why there are so many successful Asian entrepreneurs & tycoons who are of Chinese ancestry.Chinese usually don't spend-
if they are wearing expensive clothes,jewelry or driving a luxury car they can usually afford it. Culturally they are very modest & usually don't flaunt or brag about something they don't have.

     I am a self-made-successful individual and my family had absolutely NOTHING to do with it. While I grew up they gave me nothing, so I vowed to do well. I'm pleased to say that it paid off and now they're all suddenly saying, oh, why don't you come over to our house? Do you need anything? We should get together.. That is so b.s. I can't stand them. Where were they before when I was juggling 18 credits w/ 30 hrs of work/wk. I'm very happy to say that the hard work and efforts I put out really paid off. You can guess that I won't be going to the next family reunion (next week). I will be entertaining my friends at the beach :) Does anyone relate?
23 AA

     a lot of japanese people where i live are really rich
af

     ummm...hey -- this is to the 22 year old chinese male, are you still single ??
Jane, 19

     To whoever that says, "Chinese" because they are greedy and selfish... can I ask you is it wrong for me to be running my own successful tech company now and making enough to afford to retire a multi-millionaire before age 28... With the way things are going right now, I wouldn't be surprised if I reach my goal before 26. If you don't like money... go become a SCRUB THEN... and wash my dishes because you have NO OTHER OPTIONS. You got to eat right?
     Whether you understand this or not... MONEY WILL NEVER BUY YOU LOVE.. BUT IT WILL BUY YOU a lot of FREEDOM from most of society's influence! For example, I remember telling my mom to quit the job she hated... and then approached my mom's boss to tell her to SHOVE IT FOR BEING SUCH A BITCH. (That felt good to tell people off whenever you feel like it).
     I have also noticed that the more money I have in my pocket, the more options I see for myself in life to do the things I want... and that is to live life to the fullest... w/out worry about finances.
     Now, unlike most people... I don't see any future plans to work for a great part of my life. I see no point in making even more money while you have enough... from mere interest alone. Once I hit my goal of 10 million... (most likely before age 28) I'm gonna just retire... and live off investment interest. I got a LIFE TO LIVE... u know? I'm not gonna be all work... (although I am all work right now).
22 Male Chinese

     I don't know anything about money.....does it matter who makes more money?

     Striving to be rich isn't reproachful; just don't lose your humanity along the way.
[AM]

     [Chinese Americans as the group who cares most about money] because culturally they tend to be more greedy and selfish.

     [Hong Kongers as the group who cares most about money] Have you met anybody from Hong Kong that wasn't rich?

     come ON. koreans get a bad rap for being materialistic and money-grubbing, but in all honesty, from my experience, i believe that chinese americans are more involved in displaying the wealth that they accumulate through designer clothes (or just flashing labels of the secondary lines those designers produce-need i mention d&g jeans?) and consciouly spending way beyond their means to uphold an image of prosperity.
Cor-Am female

Who Handles the Checkbook
  • "Husband -- I'm smarter" [Caucasian Am male]
  • "Separate Accounts, Joint Responsibility -- Due to two professionals marrying with individual debts, it seemed the fairest thing to do. We didn't want to fight over money, so as long as the bills are paid and we invest and save, we won't scrutinize eachothers' purchases." [Caucasian Am male, 28-34]
  • "Wife -- Best with numbers" [Chi-Am female]
  • "Wife -- That's what a wife is good at :)" [Cor-Am female, 18-21]
  • "In Asian families men do the work but women control the pursestrings. In White families the men control the money. Traditionally in Asian families women keep their surnames after marriage. Not so in western society. So which culture is more feminist?"

    Who Cares Most About Making Money
  • "Chinese -- Chinese are run out of many asian countries due to their compulsion to control the economy, legally or illegally." [Caucasian Am male]
  • "In the Houston area, the most ostentatious Asian Americans are of Vietnamese ancestry. The most frugal are of Chinese ancestry." [Caucasian Am male, 28-34]
  • "I've seen it through my friends' families. When a country doesn't have much money, the values change sometimes." [Cor-Am female, 18-21]
  • "Who cares most about money? Just look at who responds to this survey -- Chinese and Koreans!"

    Comments About Money & Investment
  • "Other Real Estate -- Let inflation do all the work for you." [Caucasian Am male]
  • "Stocks -- High growth potential, even in shorter terms. (Tip: buy BLDP or any hydrogen fuel cell company!!!)" [Caucasian Am male, 28-34]
  • "Thanks to Generation X and the known fact that Social Security will be gone once the "Baby Boomers" retire, most Americans of all ethinic backgrounds are doing a lot more investing and being smarter with their finanaces."

    Comments About the Best Online Brokers
  • "Ameritrade -- Low fees ($8 per trade) and you make your own choices. No hard sells! You learn more by doing it yourself!" [Caucasian Am male, 28-34]

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