那麼 if I am my friend 我會怎樣安排自己有限的資產，才可以在香港和太太提早退休並活得開心呢？首先，如果靠100萬cash退休慢慢咬，現時通漲嚴峻，可能10年唔夠已咬完， 未來生活費毫無保障，不可行。我會將自住樓放租，每月可create（減去管理費和差餉)約$9000的現金流，加上國內租金約$3500，每月可以 有$12500 淨 cash flow收入。手頭上的100萬我會買入一層約400呎兩房的南丫島村屋自住，南丫島空氣好，有沙灘，近中環，是地球村，可以結識不同種族的朋友，又唔駛 交管理費，是退休的好地方，請參閱我之前的blog文。$12500減去$3500兩個人食用和電費，夫婦兩人可有$9000零用錢，settle 咗之後我會賣掉國內樓（回報太少）再買多一層南丫島或西貢350呎村屋收租增加每月現金流。至此，自住一層，另有兩層香港樓收租，兩個人的基本生活費已解 決。
提早退休唔駛返工大家可能應為好正，但其實最正係有份part time job，一個星期最多返三日，其餘四日可以自由自在在pacific coffee 嘆下mocca睇下書寫下blog，在Ikea揀下聖誕裝飾佈置下屋企etc., 最重要的是這一份part time job 並不是用來support your living，而是賺錢買花帶，男人則用來買玩具，所以返工是毫無心理壓力，放工拍下屁股走人，唔鍾意這份工可以換過另一份工，你話幾正。而且有份 part time job 可以另你重新跟上社會節奏，唔會無所事事在家裹發mould。我現時都有一份part time job，一個星期三天在舊部門做一些食物化驗的工作，而太太則在銀行幫手。其實香港已和日本一樣很多工種已有part time job，你只需要在agency登記，有合適的工作就會找你返工，一般$40至$50圓一個鐘唔難揾到。但你一定要放下身段，不要掛著以前自己的威水史， 時常remind 自己你己經提早退休，現在只是賺錢買玩具，則輕鬆自如，活得開心自在。
Twice a year I travel to Jingmen in central China to visit myparents and siblings. Last week, I was there on a new mission: toreview the work of my sisters as shadow bankers.
Shadow banking is lending activities outside regular banks. Despitewhat some would say, it is a reputable business onthe mainland. It fills a legitimate need. Despite some lingeringstigma, the industry is not one I am ashamed to be in.
My elder sister, Yuqing, 59, sells red bean cakes and other snacksin Maliang, a small town along Han River. She makes about 3,000yuan (HK$3,800) a month with the assistance of her husband, afarmer who ploughs land for neighbours with a tractor in spring andautumn. They manage to make ends meet but have saved very littlefor their retirement. As they have never had formal employment,they will have no social security to fall back on during theirretirement.Right after I became chairman of Wansui MicroCredit in Guangzhou in mid-2011, I had tried to talk my two sistersinto the same trade. Owing to a lack of experience, they refused.Six months ago, I finally figured out a way for them to activelyengage in shadow banking without it affecting their currentwork.
Yuqing's education was very limited as she only attended primaryschool during the Cultural Revolution. But she knows all ofMaliang's 2,000 residents and is able to judge the credibility ofits street vendors and store owners.
To play it safe, I gave her 200,000 yuan to try her hand at lendingsix months ago. In one week, she lent out all the money to fourstore owners. Encouraged and pleased, she borrowed 80,000 yuan fromher son, a migrant worker in Xiangtan, to increase her firepower.The new funds went to a fertiliser distributor, while her fourearlier customers were in catering, and sold solar heaters andelectrical goods.
Her loans were all long-term ones but recallable with a week'snotice. I asked her to take notes on all money inflows andoutflows. She charges 1 to 2 per cent a month, but is very flexibleif her customers pay slightly less, or a week later than scheduled.She is more careful about the return of her money than the returnon her money. She told me she wanted to reduce the interest ratesas one neighbour was planning to send her child to school inWuhan.
Maliang also has two banks and a credit union that are flexible intheir business approaches. But they are not able to meet all thedemand. Unlike formal lenders, Yuqing does notneed hard collateral, and that is a big draw to her business. Sheis discreet and does not broadcast her private lending activities,even though they were legalised long ago.
One of her neighbours, Fongjun, is also in the lending business.Three months ago, he pulled money from a quarry operator afterhearing about his gambling losses. Yuqing knew that the rumour wasuntrue and so lent him money to fill the gap.
My younger sister, Yunmeng, is a human resources manager at a powerplant. She makes 7,000 yuan a month, a big salary by localstandards. With her own savings and my money, she now has 4 millionyuan under management.
Seven years ago, she got burned in the stock market, and had, untilsix months ago, only invested in banks' wealth management products,which are essentially the banks' way to bypass the government capson interest rates. Currently, the government caps the interestrates on bank deposits at 3.3 per cent a year, but banks pay asmuch as 5 to 6 per cent on wealth management products.
Through my work, I found three trustworthy peer-to-peer lenders(P2P) on the mainland. Essentially, they match small savers andsmall borrowers through the internet, and stand in the middle tofacilitate transactions and manage risks for the savers.
I did a fair amount of due diligence on China Risk Finance, (fundedby a group of well-known American investors), Kaixindai (owned byChina Development Bank and Jiangsu's provincial government)and Yooli.com(co-foundedby Liu Yannan, a former vice-president of TPG, the US-based privateequity firm). I became an adviser to Yooli this year.
At my urging, Yunmeng invested 4 million yuan through the three P2Poperators, and plans to roll over the money to new borrowersconstantly through the three platforms. She gets paid an annualinterest rate of 10 to 11 per cent for her risk-taking.
While the P2P operators are not legally allowed to guarantee thesafety of investors' money, they still find legitimate ways toachieve the same goal. For example, CRF charges borrowers a 5 percent risk premium and pools the money to compensate investors inthe event of a default. Yooli and Kaixindai, on the other hand,make small loans in partnerships with licensed micro-credit firms,and require their partners to guarantee the loans.
The borrowers in the P2P networks are similar to Yuqing'scustomers, but a bigger and growing percentage are youngwhite-collar workers who do not mind taking out a loan for a newcar or a holiday in the Philippines.
Banking on the mainland is seen as a complex business (it is) andsomething that governments like to meddle in (they do). However,despite that meddling, ordinary people can find a way to helpthemselves … sometimes in the shadows of the "real" banks.
Joe Zhang is a corporate adviser and the authorof Inside China's Shadow Banking: The NextSubprime Crisis?
I have positions in UnitedHealth (UNH：US) mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company which stock is mentioned in this article.
Investors are always reminded that before making any investment you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should consider seeking advice from a broker or financial adviser before making any investment decisions. Any material in this article should be considered general information, and not considered on as a formal investment recommendation.
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