Public speaking is hard. Motivating others is powerful but few has this natural gift. Speaking on a topic that you are interested in, but not as a recognised expert, is scary. I challenged myself a bit, it has been a good experience in preparing for it, and presenting it last month.
The transcript of my recent Toastmaster speech on financial tips.
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I have yet to hear someone say “ I want to be poor in my life”. More people seem to be saying “I want to be rich and richer”.
I grew up in a poor family in Hong Kong, my parents worked hard At that era, Hong Kong still had a lot of factories, and they subcontracted simple chores that we could complete at home. I started helping out when I was like 3 years old, we barely made enough and we could not afford toys, snacks or ice creams.
I want to be richer. Shortly after I arrived in the US, I enrolled in a 2-year personal financial planning program.
To my dear Toastmasters, I am excited to share a few ideas that could go a long way to your financial well being.
Well, life is not just about how much money you have, but your financial position could help or hinder you towards your life goals. Only you know your life goal, you may want to “see the world”, “spend more time with your loved ones”, “make the world better”, “maximize happiness”, “relax or have fun”. Your life goal influences your standard of living which then influences how much money you need.
When is the right time to start? It is N-O-W, now. Very simple. The younger you start, the more you have at the end. Can you save an extra $50 each pay check? If you do this for the next 30 years, you would earn $58,000 with a meager 3% return, and a $100,000 with a 6% return. And if you save $500 each pay check, you would be a millionaire with the same 6% return. Anyone knows about the rule of 72? If you divide 72 by your annual rate of return, what you get is the number of years that your money will double. Over the long run, the stock market has had an annualized return rate of between six and seven percent, with this rate, your money doubles every 12 years.
How much are you going to save? The tip would be set aside saving prior to spending; and not the other way round. It is a mindset change. If I enjoy buying things, I would mostly likely spend more, if I don’t set aside savings.
How to make it happen? It is far better to automate the saving so you never even have the money in your pocket. Set up an investment account, set up the payroll so your savings would automatically be transferred to this account from each paycheck.
If you are already doing everything I have said and more, congratulations. You may still be able to do more! Investing the money is a topic by itself, I would share my thoughts on investment that is not often mentioned.
Be aware of your risk tolerance, but also remember the biggest risk is probably not invest your money, just like if you don’t invest yourself in learning. What many financial books do not say is that your risk tolerance can change and sometimes, you may be able to push yourself a bit especially when you are young.
Very few of us can claim discipline is their strength. As such, automate the schedule of your investment, such as investing on the 1st Monday of every month or after every 2 pay checks.
When I started in California years ago, I have worked eight years already in Hong Kong, yet I had a very old car, I did not have a house, I did not have a 401k , I didn’t have much savings. Over the years, I have earned my house, my car, my investment portfolio and my retirement account.
In summary, now is the time to start, automate savings to an investment account, automate the investment schedule, and you can do more. If you take action now, at some stage, the return of your investment account would exceed your pay check. And you have more financial freedom towards your life goals.
Thank you .
The great Chinese leader and visionary 
This book was recommended by a panelist in a career conference that I recently attended. The panelist looks super contented as a person, and seems to know exactly what her purpose of life is. Who would not admire having a North Star in a life journey? 
My third book on running, after “What I talk about when I talk about running” and “Born to Run”. Unlike the other two, this one is more a “how to” book from a Boston Marathon Champion.
Adrift : Seventy-Six Days Lost at Sea 
One day, I would come back to read it again and 
The smart device (aka the “Computer”) is getting smarter. It may know you, more than any other human being, as it “effortlessly” read and remember your email content, your calendar, your whereabout, and all your online activities. It can remember all your password too, which I highly suggest that you deny every time it asks for your permission.
Next time, when you install an App, and it asks for permission access, what would you do? We could struggle to yield until we believe. Just like how we turn a non-believer into a believer.
Pope Francis Ted Talk
得獎的學生們失望，也為了節省畢業禮時間，之後都是在班房內各班老師分發成績表的。女兒不多說話，有幾年中文演講比賽明明她準備了很好的故事，臨場又不願意站出來，令人無奈。書法比賽倒是得了一些獎吧。 小學時候，她在中文學校拿到的獎滿多呢。
