[Wan Qingyi Care]Retire in the second half of life without worrying and hold classes to teach financial management to help young people realize their dreams

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Text ◆ Zhang Shumei “Ming Pao”

Lin Benli, a 61-year-old economist, retired early before he reached the age of 50. He used his savings to invest and brought in about 1 million yuan in interest every year. He should have been able to “walk around the world” and enjoy life, but he chose to open an education center to provide Young people provide event venues, hold classes to teach people about financial management, and serve as life coaches… If they lose money, they will make up for it out of their own pockets, and all profits will be donated.

No matter how you calculate it, this account is not worthwhile, but as an economist and investment expert, Lin Benli, who has entered the second half of his life, has an “alternative” investment method with the purpose of living a richer life.

(Hong Kong News) We made an appointment to meet him for an interview at his education center in North Point. In 2011, at the age of 49, he retired early as an associate professor at the School of Accounting and Finance of the Polytechnic University. After 12 years of retirement, most of his time revolved around churches and This education center.

Give young people a place to show their talents

He described the education center as an “alternative social enterprise”. During the interview, the most common words Lin Benli said were “I want to support young people” and “I think young people are a vulnerable group. In the past, whether in churches, universities, or in the Art Development Committee, I came into contact with many young people. They Many people have ideals and creativity, but find it difficult to find a place to show off their talents.”

So in 2010, he used the NT$7 million (approximately RM4.1 million) earned from selling properties to purchase two units in North Point and opened the Wood Road Education Center so that young people could have a place to hold classes and hold activities.

Doing good deeds with all your heart is not always smooth sailing. When setting up an education center, there were too many things to take care of, and the pressure was overwhelming both physically and mentally. Once I was so busy that I had no time to eat and ate an entire box of chocolates for lunch. As a result, I developed a severe food allergy and was sent to the emergency room.

“After the education center started operating, it initially did not charge any rent at all. The lessee only had to share the management fees, miscellaneous expenses, etc. However, in a few years, it ended up costing more than NT$400,000 (approximately RM230,000). After calculating the accounts, it was decided to only pay rent. Collecting cheap rents, ranging from 50 to 200 yuan (about RM30 to 120 ringgit) per hour. Another attempt was made by a cram school tutor who collected tuition fees and then disappeared. As a result, Lin Benli personally went to the battle to provide services to the fifth and middle school students who had paid the tuition fees. Sixth-year students are studying economics.”

Be patient and wait for assets to appreciate in value

Until he accidentally started a financial management class, the education center immediately turned from a loss to a profit. I started a class to teach people how to manage money because I know many families and friends who are in debt, bankrupt and even have their whole families become miserable due to investment failures, and many of them are knowledgeable professionals.

Lin Benli holds financial management and investment classes at the center every month to explain financial concepts, analyze market conditions, and help people manage money prudently. In the past 10 years, more than 1,600 students have been enrolled, and the center has recorded revenue of more than NT$40 million (approximately RM24 million). From college students in their early 20s, housewives, to financial directors of large companies, they are all his students.

He donated all the surplus from the education center’s financial courses and venue rentals, donating more than 12 million Hong Kong dollars (approximately RM7.1 million) in the past 12 years. I worked hard for this education center, but nothing came into my pocket. Why?

“In economics, investment is about balancing consumption at different times. Sacrifice current consumption and use it to invest, so that you can get more consumption and enjoyment in the future. Just like if you invest time in planting, the orchard will grow fruits. I believe this very much. One set, as long as you are willing to wait patiently, the asset will appreciate in value.”

He expressed relief when he saw the young people he had tutored promoted from associate degree and IVE to HKU and PolyU, and showed their talents in society. His investment is to put money, time and energy into young people, hoping that they will have better development, just like repaying the talents he met on the way to school and work.

The income is more substantial than teaching in university

Looking back on the past 12 years, Lin Benli said that he has achieved three achievements.

First, he has assisted more than 40 young people and provided them with space to fully demonstrate their talents, from traditional Chinese and English math cram classes to STEM, drama classes, music classes for SEN students, etc. As a Christian, he He even refused to apply for the Ziwei Dou Shu class because he didn’t want to stifle other people’s dreams.

Second, contact young people at the center and listen to them share their family and academic worries from time to time. Lin Benli becomes their life mentor, “accompanying them to grow and watching them become happy young people!”

Lin Benli, who has a son and a daughter, feels especially sorry for young people who have lost themselves because of their parents’ expectations. He met a child of a real estate developer. Although his family was rich, he suffered from severe depression because his parents wanted him to inherit the family business and they were too forced. When he had to stop studying for a year, Lin Benli accompanied him and helped him. He also met a young man who found out that he was not good at law after completing his law degree, so he transferred to medical school and started over.

What about third? “Of course it’s a financial management class!” The 10-class course itself has students who “remembered it” and asked to work overtime. It has become a regular class every month. Even under the epidemic, the number of students has not dropped significantly. Since its opening, the center has recorded an income of An increase of more than 17 times.

Retiring early at the age of 49, Lin Benli never thought that he would live such a fulfilling life in these 12 years. “I have calculated that my life now is better than staying at PolyU.”

Financial management classes unexpectedly bring more substantial income than teaching in the university; if you continue to stay in university, you will have to spend a lot of time doing research and writing papers for the sake of university rankings, and it will be difficult to take care of other things.

See how people lose their rationality in the face of money,

How many people make all their money but lose more in the end.

He lamented: “Some people just want to make money all their lives. I

I feel stupid, I can’t use up all the money I earn.

I regretted it when I died.

Why not contribute your wealth, connections, and knowledge to society?

Supporting young people, disadvantaged groups or the elderly?

There are actually many people in society who need our care. “

As he wrote in his book, people should approach personal savings and wealth with a broader perspective. In addition to investment, through paying taxes and donations, investing in society and building the future can reap far more than money.

Elderly people have high medical expenses Buy medical insurance for peace of mind

Lin: Lin Benli Liang: Liang Wanfu

Elderly people suffer from more diseases, and the biggest expense for the elderly is often on medical treatment. An operation can easily cost tens to hundreds of thousands of dollars, wiping out years of savings at any time. In recent years, the government has encouraged the public to buy voluntary health insurance to protect their medical needs.

Lin Benli, Liang Wanfu and Lu Bingsong all purchased medical insurance, but each of them had different attitudes. Even after Dr. Liang retired and received free medical treatment in a public hospital, he still purchased a large amount of medical insurance; Lu Bingsong did the opposite and cut the original large amount of insurance premiums by half.

Forest: Recently, a family member wanted to go to a public hospital for medical treatment, but no disease could be found at all. They only asked you to go for a CT scan, but no reason could be found after repeated scans. In the end, they had to go to a private hospital to find the cause.

You can choose a hospital if you have medical insurance

Liang: When you are in your 70s or 80s, medical care is your worry. Especially for the middle class, if they are not satisfied with the services of public hospitals and want to use the money to go to private hospitals for examinations, it will be a “big deal” if they do not buy medical insurance.

I bought it when I retired from a public hospital at the age of 53. The initial insured amount was US$1.8 million, and now the insured amount is more than US$4 million. In fact, we can continue to enjoy free public medical services after retirement.

But I have seen some cases. There is a senior doctor in a public hospital. After he turned 80, he returned to the public hospital to see a doctor. No one knew him anymore. He was just an uncle and his grandmother, and he still queued up. You may think that (buying medical insurance) gives you a choice when the time comes. In fact, you must have a choice when enjoying medical services in Hong Kong.

The most expensive medical expense is major surgery, which costs more than 100,000 to 200,000 yuan, and some cancer drugs cost 600,000 Hong Kong dollars (RM360,000) a year.

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