Editorial: Money is the most complicated and difficult question between parents and children. When adult children ask for money, how much do parents need to sponsor? Should I keep my child for birth? Chen Yifen, a financial expert who has worked in the finance industry for many years, pointed out that before sponsoring children, you must leave enough money for yourself. Only by maintaining one's old man will hesitate and guarding one's life will he not become a sad and vulgar old man!
If the child wants to go abroad to read, get married, and buy a house. Should we, who are parents, pay for sponsorship? Don’t let your children go to trouble and want to help, but are you worried that your old money will not be used? Money is one of the most important and most difficult questions among children. Chen Yifen, the assistant professor of the Department of Estimated Finance of Qing Dynasty, has worked in finance for nearly 30 years and has served as senior manager of many banks including Citi, Fubon, Xinguang, and others. He is the first expert in promoting financial management in the country. She has two daughters and believes that it is human nature for parents to support their children and to win and make money. However, emotional conditions cannot be attached when making a recommendation. Otherwise, the parents will often be the ones who are ultimately disappointed. "Don't take your old age on your children." She made a pertinent suggestion.
The son Sun Mantang may not be happiness! Don’t want to become a vulgar elderly person. Before helping the child, he plans for himself.has been working in finance for many years. Chen Yifen likes to observe the differences in financial management attitudes of different generations and ethnic groups. Taking parents’ praise and examples for the next generation, she believes that in the current 70s and 80s generations, they will leave their property to their children without considering anything. For example, shortly after she was born that year, her parents registered the house in her name, "They are not afraid that I will give up on my parents in the future!" she said with a smile. Concepts like
are also related to the social environment. Chen Yifen pointed out that in Taiwan in the early years, children could go out to work when they were still teenagers, and 16 years old could become the production capacity of the family. Parents invest in their children and will come to take care of their two-children. However, modern people are getting later in society, and parents' time for raising children is also prolonged. Many 50 generations have always joked that in the past, they were "to maintain and protect old age", but now they must "to protect old age".
Chen Yifen admitted that today's parents provide financial assistance for their children, "it's more like debt, not investment." Since they bring their children to the world, they have the responsibility to nourish them until they can live independently. As for when to "can" it, everyone has different ideas. But it is conceivable that the later the parents let go, the harder it will be.
She has a family friend, 57 years old, 4 children and a teenager. When many of her fellow citizens have retired and enjoyed happiness, she still worked hard for her children’s lives: she had to take care of her divorced daughter, sponsor her son to buy a house, and pay to help her children in Australia to obtain citizenship... Almost all the money paid is spent on children, just for someone to take care of themselves in the old age. "The idea of maintaining the old age has made her feel a lot more burdened. Sun Futang is not necessarily a happiness." Chen Yifen was moved.
"Women of our generation, regardless of family status, everyone's common sense depends on themselves." Chen Yifen pointed out that in high society, women's average life is longer than men, and they must plan their financial plans for their old age. When a child needs money, it is understandable that parents want to help, but they should first evaluate their abilities and then decide how much they need to provide to their children.
How to judge whether your "old capital" is useless? Chen Yifen provides a simple trial algorithm. Assume that I am currently 50 years old, my monthly life is on sale and my annual expenditure is about 600,000. If you are expected to retire at the age of 60, it will take 30 years to reach the age of 90, and 600,000 times 30 years to 18 million. This number is the pension you need to prepare for. And considering the possible medical sales in the past, the pension required should actually be slightly higher than the above figure.
Chen Yifen pointed out that women of the 50 generation must think about how to avoid falling into the dilemma of getting sick and being poor in the old age. Taking care of yourself is the greatest contribution to your family and society. Don’t be too busy to bow and work hard for your children, but you become a vulgar old man with economic difficulties. “That is the most tragic next scene in life!”
How to save your old capital for yourself? The fool garden investment method, spreading risks and creating cash flowChen Yifen pointed out that the biggest focus of retirement financial management is to create stable monthly cash flow. "You want to find a golden chicken mother and let it lay a golden egg for you every month." She compared it like this.
How to find your own golden chicken? Chen Yifen suggested that the priority investment value is stable and that financial products with passive income will be created regularly, such as interest-based funds, savings insurance, annuity insurance, etc. It is also a good choice to win dividends every year, but the stock price fluctuates significantly, and the interest allocation policies of some stocks are not stable. It is best to diversify investment standards and do not pledge a single stock.
Before investing, people with insufficient principal should first clear the assets. For example, people with real estate under their name can consider "changing small by large" or moving to suburbs. The price difference in buying and selling can be used as the principal of investment. Or "living with a house" to create monthly cash flow through reverse mortgage loans. "Don't think that real estate should be kept for children. Many people are old and have only houses left," she said.
As for personal financial management strategies, Chen Yifen prefers to buy mutual funds regularly and basically only stop profits and keeps throwing them away. Unless the investment tag has poor long-term performance, you will consider taking the blame. She called this financial method "fool garden investment method". Buying funds from different regions or single countries is like sowing various plant seeds in the garden. Water regularly, and the harvest will be achieved when the time comes, and there is no need to pay too much attention.
She also pointed out that the advantage of regular fixed amounts is that the purchase price can be averaged over the long term, so as not to buy at the highest point or sell at the lowest point.. In addition, it is recommended that when choosing a fund tag, the main focus is on stock funds, because the prosperity of industrial funds is longer and it will take a long time to reach the profit stop.
Would you still buy a guaranteed insurance after 50? First evaluate the risks you can bearin the second half of your life, do you need to buy new insurance products? Chen Yifen pointed out that the biggest meaning of insurance is to share the risks for us. The most important stage in life is usually the youth, because they are the main economic pillars of the family. However, in the middle and mature years, the insurance premiums for insurance-type insurance have increased. If you want to buy new insurance products, you must carefully evaluate them.
She takes long-term care as an example, which is a product that major insurance companies have vigorously promoted to mature ethnic groups in recent years. But she reminded that before purchasing, you should pay attention to the payment conditions of the warranty and think about several questions: How high is your chance of a long-term license? If you have not been disabled in the future, but have cancer or heart disease and die, is there no guarantee of the current policy?
She believes that in addition to buying insurance products, the long-term liability fee can also be paid through cash flow created by other investment products. Compared to money, what is more important is to create an international support system for the old. She used her own experience as an example. Her parents were both in their old age and needed care. She and her sister live close to each other, and they hired foreigners to take care of them. Without insurance, they can make their parents live in vain.
However, for her generation of 5-year-olds, their children may not be by their side, and some countries have begun to ban the export of workers to Taiwan. The 50 generations of old age may face the dilemma of being unattended. Are there any friends who can take care of each other or need to move to the maintenance agency in advance? How much can government chief license 2.0 help? How to extend the time of self-care for health? These questions need to be thought about in advance and prepared in advance. "With long-term care, you may not be able to rest assured!" she reminded.
Chen Yifen described that when a person is middle-aged, financial management is like a test. The passing standard is used by the seniors without becoming a "dirty elderly person". If you still have enough money and want to get higher scores, you might as well think about how to make money create a greater social meaning. She saw a girl from a North Korean girl who worked as an engineer in the United States after graduation. When she was over 70 years old, she donated 500,000 US dollars to her alma mater, rather than leaving the entire amount to her husband. "She thinks that younger students can have a better education and use money more valuable than leaving money for their children."
She called on her fellow 50s to make financial plans for herself while she was aware of it and could act independently. Spend every piece of money you make in what you think is worth it!
Original text: If you don’t want to be an absurd elderly person, how can you “maintain your old man and protect yourself”? Chen Yifen: Raising golden chicken, waiting for stable cash flow