There are many benefits of being Chinese. As a Chinese American, I’m so glad to be Chinese and have Chinese heritage. To be able to understand two languages and two cultures well, and face such a massive demand curve for my business is a blessing. After all, around 1.2 billion people speak a form of Chinese, and another 1 billion people speak English in the world.
Doing the pandemic, there has been some anti-Chinese sentiment. Although I can understand rising anti-Chinese sentiment, it's not like the Chinese created COVID-19 and purposefully caused people to suffer. Xenophobia has no place here.
Please be mindful of racists thoughts and actions.
There are Chinese people everywhere you go. I definitely plan to have my son learn some Mandarin when he starts elementary school. If he can understand English, Spanish, and Mandarin, a huge world opens up for him.
Benefits Of Being Chinese Or Asian
- It’s easier to connect and build relationships with more people because there are a lot of Chinese people everywhere you go.
- Your income and wealth tend to be higher in America if you are Chinese. See: Your Chances Of Becoming A Millionaire By Race, Age, And Education
- You might even have smarter genes. After all, what else explains the over representation of Asian people at some of the best universities? It can’t all be due to work ethic and family values.
- Due to the over representation of Asian people in universities, technology, finance, law, and medical fields, people might think you are automatically smart even if you are dumb as a doorknob. The stereotype probably helped me grow FinancialSamurai.com into a site that allows both my wife and I the ability to stay at home and take care of our son since we were 34.
- You might be less of a target for American harassment when you are traveling abroad. Everybody will just assume you’re from China, Taiwan or another Asian country.
- It’s amazing to dream in a different language. Just imagine the most exciting dreams times two as your mind goes wild.
- Your skin lasts longer and you get to look 5–10 years younger than you really are your entire life.
Whatever your race or ethnic city, cherish it! There are many benefits of being Chinese. But there are also many benefits of being your own race too.
There is so much heritage and culture for you to discover. Don’t be like most Americans who only speak one language and who never explore the world. Life is so much better when you can own who you are!
Income By Race: Why Is Asian Income So High?
Three White Tenants, One Asian Landlord
Invest In Real Estate Like The Chinese
If you are Chinese or want to get rich like the Chinese, then you should invest in real estate. Real estate is a core asset class that has proven to build long-term wealth for Americans. Real estate is a tangible asset that provides utility and a steady stream of income if you own rental properties.
Given interest rates have come way down, the value of rental income has gone way up. The reason why is because it now takes a lot more capital to generate the same amount of risk-adjusted income. Yet, real estate prices have not reflected this reality yet, hence the opportunity.
Take a look at my two favorite real estate crowdfunding platforms:
Fundrise: A way for accredited and non-accredited investors to diversify into real estate through private eFunds. Fundrise has been around since 2012 and has consistently generated steady returns, no matter what the stock market is doing.
CrowdStreet: A way for accredited investors to invest in individual real estate opportunities mostly in 18-hour cities. 18-hour cities are secondary cities with lower valuations, higher rental yields, and potentially higher growth due to job growth and demographic trends.
Both platforms are free to sign up and explore.
I've personally invested $810,000 in real estate crowdfunding across 18 projects to take advantage of lower valuations in the heartland of America. My real estate investments account for roughly 50% of my current passive income of ~$300,000.
Recommendation To Build Wealth
Manage Your Money In One Place. Sign up for Personal Capital, the web’s #1 free wealth management tool to get a better handle on your finances. You can use Personal Capital to help monitor illegal use of your credit cards and other accounts with their tracking software. In addition to better money oversight, run your investments through their award-winning Investment Checkup tool to see exactly how much you are paying in fees. I was paying $1,700 a year in fees I had no idea I was paying.
After you link all your accounts, use their Retirement Planning calculator that pulls your real data to give you as pure an estimation of your financial future as possible using Monte Carlo simulation algorithms. Definitely run your numbers to see how you’re doing. I’ve been using Personal Capital since 2012 and have seen my net worth skyrocket during this time thanks to better money management.
About the Author: Sam began investing his own money ever since he opened an online brokerage account in 1995. Sam loved investing so much that he decided to make a career out of investing by spending the next 13 years after college working at two of the leading financial service firms in the world. During this time, Sam received his MBA from UC Berkeley with a focus on finance and real estate.
FinancialSamurai.com was started in 2009 and is one of the most trusted personal finance sites today with over 1.5 million organic pageviews a month. Financial Samurai has been featured in top publications such as the LA Times, The Chicago Tribune, Bloomberg and The Wall Street Journal.