1. Speaker ﹕ Ven Zu Ren Speaker ﹕ Ven Zu Ren Date : Dec 2006 Date : Dec 2006 Organizer: Organizer:

2. Ven Zu Ren ’ s short Biodata He has a Ngee Ann Polytechnic (Singapore) Electronic Engineering Diploma （ 1988 ） Graduate. 1991-1992, He has a Ngee Ann Polytechnic (Singapore) Electronic Engineering Diploma （ 1988 ） Graduate. 1991-1992, He was a Thai Thammayuttika Tradition monk at Wat Bovoranives Vihara, Bangkok, Thailand. 1993-2000, He was a Thai Thammayuttika Tradition monk at Wat Bovoranives Vihara, Bangkok, Thailand. 1993-2000, He studied Buddhism in Chinese at Fu Yan Buddhist Institute （福嚴佛學院）, Taiwan and completed Elementary and Advanced Buddhist Studies Courses. He studied Buddhism in Chinese at Fu Yan Buddhist Institute （福嚴佛學院）, Taiwan and completed Elementary and Advanced Buddhist Studies Courses. He has been teaching in Malaysia （ Perlis, Kedah, Penang, Terengganu, Kuala Lumpur, N. Sembilan and Johor ）, Singapore, Hong Kong, Taiwan, Beijing, China and U.S.A. （ New York City, New York State, New Jersey, Huston, Texas, Sunnyvale, California ） He has been teaching in Malaysia （ Perlis, Kedah, Penang, Terengganu, Kuala Lumpur, N. Sembilan and Johor ）, Singapore, Hong Kong, Taiwan, Beijing, China and U.S.A. （ New York City, New York State, New Jersey, Huston, Texas, Sunnyvale, California ）

3. Reality check We have always assumed that each generation would be better off than its predecessors. But young people today have a lot more commitments and it is much more difficult for them to raise their incomes and generate wealth. Therefore they are financially worse off than their parents when they were the same age. We have always assumed that each generation would be better off than its predecessors. But young people today have a lot more commitments and it is much more difficult for them to raise their incomes and generate wealth. Therefore they are financially worse off than their parents when they were the same age. This is a very big issue ( New Poverty or “ Ipod ” This is a very big issue ( New Poverty or “ Ipod ” generation — “ Insecure, Pressured, Over-taxed generation — “ Insecure, Pressured, Over-taxed and Debt-ridden ” ) for the many countries and Debt-ridden ” ) for the many countries around the world. around the world. Their parents generation@30s Ipod generation@30s got married, bought a house/ flat/ apartment and a car. Still single or childless, may have some debts (student loans, wild spending ) may not afford to buy a similar size house and car

5. The " New Poverty " / Marginalized Middle Class: （ 1 ） the economic free-falling (without a parachute / safety net ) of individuals and countries who used to be affluent and who once dreamed that their affluence would go on forever. （ 2 ） people who lose their jobs when their company "downsizes" "shutdowns ” or "outsource. ” （ 3 ） the sense of surprise （ poverty can hit so suddenly ） and loss of faith in relationships, corporation and government. Who are at risk of becoming “ New Poverty ” ? People in their twenties to forties: （ 1 ） with skills, knowledge and experience easily replaced by someone in another part of the globe or new technology or new way of doing things （ Self Manufacture→ Original Equipment Manufacturer ( OEM ) →Original Design Manufacturer ( ODM ) ）. （ 2 ） with overspending habits, poor saving and making bad investment decisions （ FQ ）, low EQ, low Social Intelligence/ people skill and unable or unwilling to learn new skills/ make positive changes in life. ，

6. High flyer: “ 3M's ”— Mobility, Multiplicity and Money. Trapped and Lost Out ： NEET （ Not in education, employment or training ）, Freetens （ freelance ）, Parasite Single （ stay with parents and spending majority of earning on buying things ） Mobility -live high life and work high pay jobs in a many different cities around the world Stay with parents or low cost apartment Multiplicity- have multiple careers and ventures (eg Yahoo, Google, YouTube ), multitasking to earn high pay, gain high status and esteem. Jobless, or low paid temporary /permanent job, work multi- low paid jobs to make ends meet or to overspending on expensive gadgets / fashion. Money- make big money, save and invest, want to become Millionaire before 40 → Early Retirement and Enjoy Life. make little money, no or poor saving and invest, overspending and possible of becoming credit card company slave.

7. Ipod G go Buddha ’ s Way