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1 ---Design your career ---Manage your money and……Plan your life Yi Qian Founder and CEO., Mutual Business Alliance Group., Inc., A New way of thinking.

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Presentation on theme: "1 ---Design your career ---Manage your money and……Plan your life Yi Qian Founder and CEO., Mutual Business Alliance Group., Inc., A New way of thinking."— Presentation transcript:

1 1 ---Design your career ---Manage your money and……Plan your life Yi Qian Founder and CEO., Mutual Business Alliance Group., Inc., A New way of thinking your career, your budget, your investment, your time and your life!

2 2 Why We Need to Think Differently? Why? Think as a millionaire’s code-make smart money. We work hard, we are always busy and then we realize that our income is still not enough…… Case 1: Ms. Lee: We don’t have enough money for retirement and expense of kid’s college. The only thing we have is a house but we need to live there. Ms. Chang: We don’t know how to use our cash since we just sold our house in Brookline and changed to a condo in the same area. Please guide me how to prepare for our future by diversified invemstment.

3 3 Article from wenxuecity.com: 整天工作的人, 沒有時間掙錢 富人舍錢,窮人舍力。富人思來年,窮人思眼前。 一個人有 100 萬並不能稱為 “ 百萬富翁 ” ,只有那些擁有 100 萬但又能連續投資使 100 萬 再增值 100 萬的人,才可以稱得上 “ 百萬富翁 ” 。前者充其量只是個 “ 存款額 ” 很高的人, 他們不能榮獲 “ 百萬富翁 ” 的稱號。 1 角硬幣和 20 美元的金幣沉在海底是毫無區別的。只有當你將他們拾起並投入流通時, 它們的價值區別才顯現出來。 一位百萬富翁說︰我一直讓自己的收入來滿足自己的需要,相反,許多人喜歡調整自 己的需要來適應自己的收入。 商業本質是不公正的。利潤就是最大的不公正,真正的公正應該是沒有利潤。 洛克菲勒曾經說過這樣一句話︰即使把我的衣服脫光,再放到無人煙的沙漠中,只要 有一個商隊經過,我又會成為百萬富翁。

4 4 Design Your Career Ethics, Integrity, Kindness (Millionaire’s code) > 50% useless research in China (copy and fake) Uniqueness, Creativeness (Millionaire’s code) –Molecular biology, Computer sciences, Finance Vision, Confidence (Millionaire’s code) –Vision of your job, Potential results Performance on the job –Team work player? Communication skill? Priority of work: order list (Millionaire’s code)

5 5 Self-evaluation and Reality (Millionaire’s codes) Commitment: actively plan your work –Self realistic goals (long-term vs short-term) Consistency: don’t switch too frequently –Making a commitment to your project Confidence: I can do it-self imply + others encouragement –In self and skills, know who you are, where you are going and where you want to be. Nothing perfect Patience and Persistence –Don’t give up on your attempts too easy Imagination and Sensitivity to change –Variety of methods, sensitivity of times and your competition Track your work –Know what works and what doesn’t work, what productive

6 6 Think about your career: Make you what? Take a job you really like except surviving –Better life quality is more important than making more money –Don’t force yourself to do the job not fit to you How much potential your job is (Millionaire’s code)? –Is it worth you to spend much more time to devote to your work? Avoid to simply repeat failure work –Do you know your competitors’ work? Make money efficiently (Millionaire’s code) –Second job or not? E-business –Your own investment or not (realtor or investor)? Small or large ?

7 7 Manage Your Money Plan and force yourself to save money in different ways, No Gamble! Question: Extra cash should go mortgage or CD?  1/3 of income: Routine and current Expense  28% House expense: PITI  36% Total debt  1/3 of income: Future expense or Investment (Diversified investment)  Stock market, real estate market, CD (not affect normal life)  Retirement: 401K, IRA (also can be used as investment or your own house)  1/3 of income: Family support, Emergency fund or Risk reduce fund  Parents  Child’s tuition (529 or financial planning)  Living trust, estate trust and diversified life insurance  Sickness (Insurance), Accident  Moving or relocation

8 8 Make Money Efficiently Pre-pay retirement life: good deal of house and land (income tax-free and lower expense states), tax lien, tax deed, foreclosure property (millionaire’s code) Pre-pay tuition: 529 is not counted as kid’s income. Pay attention to other talents beyond the study. 401k, IRA. –Distribution of heirs (Decedent’s death) (Millionaire’s code) Cut big one to small one: never think forever. Remote investment vs local Refresh your knowledge. Catch up the most recent trend. Have action now instead of keep talking

9 9 Plan Your life 5 years’ life, 10 years’ life, 20 years’ life –Size of family, size of house and # of houses –Location (US, Oversea) Retirement cost: 1.2-1.7 millions (Millionaire’s min) Living: China vs US –House vs Condo, Improved vs vacant land –Stay alone vs Senior house –Job related area vs retiree related area Med Care (Millionaire’s code) –Long-term vs short-term –Prescription drugs vs Herb

10 10 Case Study-Sunny Hills Booming Land Take advantage of 401K and IRA to invest hot land? Investor should be the game controller Strategy of diversified investment Small cost and low risk investment Be your own designer!!!


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