I believe that there will be more and more such people in the future.
Don't you have to manage money if you have tens of millions or even hundreds of millions of property? How many suites can guarantee our family a lifetime of worry-free?
I once served a "second generation of housing" with a net worth of over 100 million. He has many houses, but he has been troubled by financial anxiety and educational anxiety for a long time.
The second generation of anxiety
Worried about the depreciation of real estate and the shrinking of wealth.
Last year, I met a client, Xiao Liu (a pseudonym), a typical "second generation" born after 90, who lives in Shenzhen and whose son just turned one year old.
Xiao Liu's parents are executives of large domestic real estate enterprises. Because of the convenience of work and investment habits, they invest in buying houses as soon as they have spare money. After more than ten years, Xiao Liu's family bought many properties all over the country.
Xiao Liu is the only child in the family. He has five properties in his young name and no mortgage. All 5 suites are located in the center of domestic first-tier hot cities. In recent years, domestic housing prices have soared, which has doubled. The property valuation under Xiao Liu's name easily adds up to over 100 million.
According to Xiao Liu's parents, all the properties under the two old names will eventually be owned by Xiao Liu's husband and wife and future grandchildren.
Living a superior life since childhood, I have no worries about food and clothing. When he grows up, he can easily become the "second generation" with a net worth of over 100 million without struggle. Xiao Liu's smooth life experience can be said to be enviable.
When I first met Xiao Liu, the lucky "second generation of the house" gave me a feeling that I was not so happy: my face was full of anxiety and even a little insecure.
"Although I have so many rooms, my parents bought them. I work as a planner in a real estate company, and my wife is a full-time wife. At present, my income is not as good as the money I earn by renting a house every month. " Speaking of the economic situation at home, Xiao Liu is not without self-mockery.
Xiao Liu's trouble is that although he looks rich, his assets are basically fixed real estate and he doesn't have much liquidity at hand. He wants to sell or mortgage a suite for starting a business or investing, but he has no bottom and is not confident. He is always worried that he will fail and lose the assets left by his parents.
"I can't live on these houses all my life. I want to do something ... at least learn to manage money and manage the assets left by my parents. "
There's an old saying in China: You can't be rich for three generations. Xiao Liu has always felt that his ability is insufficient and his earning ability is not as good as his parents', and he is worried that he can't guarantee that his family and children will always live a rich life in the future.
One more question: Who knows if these properties will depreciate in ten or twenty years?
In China, everyone wants to sharpen their heads and drill into the property market, and everyone wants to buy a house. A large number of residents' deposits and investment hot money all flow to the property market. The property market is too hot, unusually hot, and house prices are rising. The hotter the market, the more worried Xiao Liu is:
China property market is so abnormal! He is afraid that one day, the property in his hand will be like bitcoin, and it will plummet after the speculation.
Xiao Liu is more and more anxious: the uncertainty of the future value of real estate is too great! He is always worried that the real estate will depreciate and shrink, and that his future family life and children's growth education will be affected.
Divide "pocket" financial management
Cash out low-return real estate to fight inflation
I fully understand Xiao Liu's concern. Japan, Hong Kong and the United States have all experienced the crisis of the bursting of the real estate bubble.
As a policy-oriented economic power, China may try its best to delay the bursting of the real estate bubble, but when it comes to finance itself, the real estate industry is most afraid of raising interest rates continuously, and the capital chain will break and affect each other. Will the real estate bubble burst? When will it explode? This is hard to predict, but obviously the current property market is irrational.
If you put all your assets on the house, the risk is obviously too high.
Back to the family itself, we have children to raise and educate, medical care for the elderly, and our own future pension expenses. We need to divest some liquidity funds and make relatively stable anti-inflation investment to ensure the target needs of the family, which is not affected by any external factors.
After implementing and perfecting the security plan for Xiao Liu's family of three, I began to formulate Xiao Liu's comprehensive financial planning report.
At present, Xiao Liu's monthly work income and rent income are relatively stable, adding up to about 80 thousand, and there are also deposits in the bank account. Combined with the future income and expenditure of the family, I helped Xiao Liu sort out the future cash flow of the family every year, and suggested that Xiao Liu divide the existing income into several "pockets" for financial management:
1. Short-term savings: sort out daily household expenses and make short-term emergency savings.
2. Medium-term savings: sort out short-term and medium-term target budgets, diversify investments and control risks.
3. Long-term savings: sort out education funds and future pension goals to prepare for future life.
Based on the fact that all the properties under Xiao Liu's name are in first-tier cities, and there is no mortgage, the house price increases and the rental return rate is high, it is suggested that Xiao Zuowei Liu's landlord continue to hold them.
Mrs. Liu owns 1 apartment in third-tier cities in China. The future growth of the house is not high, and the house has been idle without any income. I suggest that Mrs. Liu sell the real estate, spread the funds to other financial assets, increase the family's liquidity savings and improve the family's ability to resist risks.
After nearly three months of financial planning communication, in the process of implementing financial planning step by step, Xiao Liu not only learned a lot of financial knowledge, but also became more and more aware of what he wanted in the future.
"I am much more at ease now, because I know very well that I am preparing for the future every month. Even if the house depreciates in the future, I don't have to worry about my future life and my children's growth education. "
The second generation of Fang is even more anxious.
So what should we do?
In China, there are actually many "second generation housing" who have grown up by their parents' wealth accumulation. It is normal to have one or two suites under the name of the only child now.
The second generation, such as Xiao Liu, is still worried about the depreciation of real estate and full of anxiety about the future. We ordinary people try to own one or two houses, and most of them are still burdened with heavy mortgages. Can life be safer than Xiao Liu? How many houses can solve the problem of children's education and retirement?
If a person doesn't have a correct concept of money management, a life plan, and doesn't know what his future life goal is, it is easy to fall into the situation of "drinking today and getting drunk today" unconsciously.
Some people have some money on hand and several suites, and they will lose their wealth because they don't know how to manage money and invest indiscriminately.
I have seen too many such "failure" cases.
If you have some assets in your hand, but you can't start a business like your parents with your current experience and ability, please manage your assets through financial planning like Xiao Liu first, and make preparations for family security, old-age life and children's education in advance.