Money & Investing | Asian American Poll

MONEY & INVESTING
(Updated Tuesday, Apr 1, 2008, 05:12:02 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.]

I'm a 20-something (read: 29?!) Korean guy living in the Los Angeles area and I invest in the real estate market. To me, that's the best kind of investment you can make. That was something I learned from my grandfather a long time ago. When he was young he started buying apartment buildings, and did very well. Today, he owns all these apartment buildings free and clear and does not have to work at all, yet still makes hundreds of thousands of dollars PER MONTH. I myself have followed in his footsteps and own some real estate myself. What he makes in a month, I make in about a year. I still have a long way to go, but he tells me I'm doing better than he was when he was my age.

Prior to real estate, I used to invest in the stock market. After investing in real estate, I couldn't believe I didn't do it sooner. The stock market is something I really dislike now. I hate always having to keep up with the news, or watching the charts, etc. Plus you have no leverage, it's slow, and you have no control over how the company does.

However, I also trade futures and options on futures. The reason for this is because the markets are fast, you have a lot of leverage, and the markets can never go to zero. My income in futures actually exceeds that of my RE income. My formula is to use the money I make in the futures market to put downpayments on real estate, then live off the rental income. And since I don't spend much, about 90% of that rental income is used to acquire more real estate through a 1031 tax deffered exchange.

It's not that I'm cheap, I just don't care for a lot of the "rich" stuff. In fact, I met a guy who was worth about $300 million (through real estate actually) and he drives a used Cadillac. I think a lot of rich people are just conditioned to spend their money more wisely. My wife also does not like to spend a lot. She's happy driving her Accord, and I'm happy driving my Explorer.

Interestingly enough, I have relatives who make a tenth of what I make, yet drive Mercedes', Lexus', etc. and have expensive homes. I try to warn them of their spending habits, but then again it really is none of my business. I still worry about them though. If something were to happen and they missed their next 2 paychecks, then they are in serious trouble. Can you say "foreclosure"? Be careful with your money, folks...
LA Korean Wednesday, June 26, 2002 at 01:39:22 (PDT)

1/2LostSoul,

I agree with you, AC dropout and MLK should exchange emails, that way you can email MLK too. ^^
Fan Wednesday, June 26, 2002 at 00:41:10 (PDT)

Solomon had thousands of wives including more than 500 princesses. But alas his heart was turned from the lord and toward the worthless idols of his wives. He died a bitter bitter man.
SOG Tuesday, June 25, 2002 at 23:48:46 (PDT)

to 1/2LostSoul
Yeah, I think he did. I guess I wouldn't want to marry a fellow like that, now that you've pointed that obvious fault out to me. Hmmm, kinda makes me wonder how he manages to stand upright with no pain.
MLK Tuesday, June 25, 2002 at 20:54:22 (PDT)

Well I dont ever read any articles or books anymore, Because their leval is far below me. The market may not be in a uptrend yet. however the bottom is here. To time the market perfectly is extremely hard for the professionals. Most people do not have the skill, patience or expertise to recongnize a clear cut market bottom. And because the largest growth is realized before the majority of individual investors realize the bull market is in full swing, I have suggested a buy for index funds such as qqq as well as general market mutual funds.

Well the reason you lost your shirt is because you didnt have a plan. And you failed to have clear stop loss limits. Thats alright, consider it a learning experience. Please dont say the word "analyst" it digusts me. These guys can't make a dime in the market if their life depended on them. The mere mention of analysts makes me boil with anger.

GE CD's ??? You must be talking about the bonds they are issuing. I dont do bonds but considering they have 4.25 debt to equity leval their rating is no where near AAA. And as for market pricing, whatever it is, the price is exactly what it is worth. Bonds are not worthy investment.

SOG Tuesday, June 25, 2002 at 14:59:18 (PDT)

MLK,

You're the cool lawyer type when it comes to a disagreement. I'm sure if the right guy came along and push the right buttons, you'll be jumping up and down and throwing stuff as all other couples who getting into heated arguments. You just need to find that right guy.

What does verbal abuse consitute? I guess I'm not too familar with this stuff. Is like like a trailer trash person with his hand on his crotch going "Make me dinner b*tch." heheh.

I like water. Especially when they are bottled and sold at $2 a pop. I just don't like public beaches. Their dirty, noisy, and not very convenient. I like some of the resort beaches and private beaches I've been to. I need creature comforts if my feet are going to be sandy and my skin getting dry and leathery in the sun. Mai tai are good as are Pina Colada for beach bumming. I don't know if I would look good in yellow polka dots that I never wore before. I probably need bikini wax. Which would be just as comfortable as a catus needle wrap. heheh.

My tendency to write prose to forward my views is reflective of my sucess in TKD and business; I just don't like to lose.

AC Dropout Tuesday, June 25, 2002 at 11:16:43 (PDT)

1/2LostSoul and SOG,

The reason I've been looking at the preferred stocks of GE. Is that they are suppose to be paying out about 6.25%. I'm not investing for the value but the payout. I'm allow to buy it at $25.00 a share, the value for the common stocks are already up a few point. I got till friday to give my broker the final word on this vehicle.

AC Dropout Tuesday, June 25, 2002 at 10:50:40 (PDT)

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