<목욜정모> March 13, 2008 Thursday meeting's Topic

[Scarlet]

Sorry for late uploading... This week i tried new material...

Hope all prepare a lot to talk... See ya sooooon!~

ur Scarlet.

    Small Talk Topics !!!

1.     Can you tell us about unique habits of your family members ?

2.     Can you tell us about lunch time at work or university?

3.     Can you describe one of your favorite restaurants?

4.     Please tell us how you learned how to swim ?

5.     Let’s say you were dissatisfied with a product you bought or of a service you got.

       Call the company customer service and leave a message making a complaint about your dissatisfaction. (Task solving and Expressing opinions)

 --------------------------------------------------------------------------

True or False about Blood Type

A: "What is your blood type?"
B: "My blood type is O."
A: "You may be outgoing and social."

When people first meet, they ask each other's blood type before going on to have a deeper conversation. However those daily talks show that we have some prejudices about link between blood type and personality. Sometimes, it is obvious that a person's blood type affects the way where he or she talks and acts.

In Japan, blood type is a common way of describing people's personality, much like horoscopes in Western countries. In 1927, psychologist Furukawa Takeji proposed that there is a link between blood type and personality after researching on his relatives, companies and students. After his dissertation was first suggested, a new blank was added to job application forms in order to assess the potential employees' temperament. During World War II, Japan's Imperial Army even formed battle groups according to their blood type.

Here are the general ideas of each blood type.

Type O: They can be energetic, extroverted and sociable. They love to be the center of attention and appear self-confident. They express strong emotions and may quickly take the opposite view. They are easily addicted to something, such as love, drug, gambling and it is very hard to get out of them. They are somewhat good at crime. Most people in prison are blood type O, and they are major criminals
Famous O's -Queen Elizabeth II, John Lennon, Elvis Presley, Rho, Mu-hyun, George W. Bush, Kennedy

Type A: They can be shy, sensitive to surroundings and others and reliable. They could be stable with consciousness that they belong to some organizations. Once they fall in love with somebody, they devote themselves to the partner. Most people in mental hospital are blood type A. Don't judge them by their appearance.
Famous A's -Adolph Hitler, George Bush Senior, Britney Spears, Kim, Dae-jung, Noh, Tae-woo

Type B: They can be egocentric, goal oriented and strong minded. Type B's are the individualists of the blood groups and find their way in life. Because they dislike custom, they don't want to belong to any organization. According to statistics, 90% of the gypsies are blood type B. They can be entrepreneurial but may not be flexible. They cannot be the best team player due to their attitude toward the work.
Famous B's - Mao from China, Jack Nicholson, Park, Jeong-hee

Type AB: Type AB's are the most complicated within these four blood types. They can be both outgoing and shy, confident and timid. They are greedy, unpredictable in social situations and their character is unclear. While responsible, too much responsibility will cause a problem.
Famous AB's - Jackie Chan, Marilyn Monroe, John F Kennedy


1. Are there any more specific characteristics for each blood type? If you know, talk about them.

2. What is your blood type? Describe your personality to members. And other members judge whether he/she describes his/her personality well or not.

3. Check your personality with the above description. Do you think it is true?

4. Don't you think that we are affected by "Blood type/Personality link theory"? If so, what makes you believe it?

 --------------------------------------------------------------------------

Management of Money

1. Saving money in bank

1.1 Merit : ‘Banks recommend savings as a habit when you're young. If you are young, it's easy to be rich. I won't go into it here, but there is a large difference between a person who starts saving at the age of 20 and 30. A staggering difference. It is said that one of the wonders of the world is the power of compound interest. The purchase of Manhattan Island is said to be one of the greatest bargains of all time. New York was purchased for $24 in trinkets and beads. Yet, if that $24 had been invested, at 8 percent annually, that $24 would have been worth more than $28 trillion by 1995, Manhattan could be repurchased with money left over to buy much of L.A., especially at 1995's real estate prices.’
(from ‘Rich Dad Poor Dad’)

1.2 Demerit : Of course, it’s better than bury your money under the ground. But, low risk takes low benefit. A bank just guarantees minimum interest for the money you saved.

2. Investing for real estate

2 1. Merit : Generally everyone covets one’s own land. This desire is strongly influenced by economic situation. So, price of real estate is an effective economic index. Real estate can provide two kinds of benefits; exchange value from increased price and short-term cash flow such as rent.
‘Real estate is a powerful investment tool for anyone seeking financial independence or freedom. It is a unique investment tool. My real estate strategy is to start small and keep trading the properties up for bigger properties and, therefore, delaying paying taxes on the gain. This allows the value to increase dramatically.’
(from ‘Rich Dad Poor Dad’)

2.2 Demerit : Because the density of population in Korea is very high, government always tries to control the real estate market. So, if you’re not well aware of market situation, policy environment, a preventive measure for stable price of the real estate and national economic situation, you are exposed to the possibility to be a failure or a victim of bubble.

3. Investing in stock market

3 1. Merit : When the national economy is brisk, stock market would provide fast and abundant returns from the value in exchange. Until now, when we deal with stocks, we’ve considered only ‘profit taking’. However, in the near future, stock dividend profit will be strengthened. Stock investment can bring quick profit and high return even though it is accompanied by high risk.

3 2. Demerit : Without proper financial knowledge, you can’t make money effectively in stock market. You have to eval‎uate a merit and a demerit of one business. Stock market is very unstable and shaky under economic unrest. Your money can be stolen or wasted by moral hazard of your fund manager. For example, the first time Hyundai Securities’ ‘Buy Korea’ fund appeared in front of the public, it brought much profit to both of clients and the company in 1999. But, after the CEO of Hyundai Securities, Lee Ik-chi, was reported to manipulate stock price, ‘Buy Korea’ fund was abruptly wrecked. Of course, there appeared lots of victims whose principal sum was severely lost.

4. Investing for bond

4.1 Merit : Bond guarantees stable profit and liquidity. Bond investors can earn income from interest and income from exchange value. Only government, public institution, financial institution and legitimate corporation can float bond so that stability is relatively high. Unlike stocks, bonds guarantee fixed interest receipts.

4 2. Demerit : Bond cannot dodge fluctuation of interest rate. If market price of bond is lower than the purchase price, investors must hold it by expiration of the bond. So, price of bond is very sensitive to the inflation which influences on interest rate so much. Because the inflation makes the earning rate shrink.

5. Being an entrepreneur: ‘Utilizing a corporation wrapped around the technical skills of accounting, investing and markets can aid explosive growth. An individual with the knowledge of the tax advantages and protection provided by a corporation can get rich so much faster than someone who is an employee or a small-business sole proprietor. It's like the difference between someone walking and someone flying. The difference is profound when it comes to long-term wealth.

5.1 Tax advantages: A corporation can do so many things that an individual cannot. Like pay for expenses before it pays taxes. That is a whole area of expertise that is so exciting, but not necessary to get into unless you have sizable assets or a business. Employees earn and get taxed and they try to live on what is left. A corporation earns, spends everything it can, and is taxed on anything that is left. It's one of the biggest legal tax loopholes that the rich use. They're easy to set up and are not expensive if you own investments that are producing good cash flow. For example; by owning your own corporation - vacations are board meetings in Hawaii. Car payments, insurance, repairs are company expenses. Health club membership is a company expense. Most restaurant meals are partial expenses. And on and on - but do it legally with pre-tax dollars.

5 2. Protection from lawsuits. We live in a litigious society. Everybody wants a piece of your action. The rich hide much of their wealth using vehicles such as corporations and trusts to protect their assets from creditors. When someone sues a wealthy individual they are often met with layers of legal protection, and often find that the wealthy person actually owns nothing. They control everything, but own nothing. The poor and middle class try to own everything and lose it to the government or to fellow citizens who like to sue the rich. They learned it from the Robin Hood story. Take from the rich, give to the poor.’
(from ‘Rich Dad Poor Dad’)

6. Saving money through the knowledge about tax : ‘The Tax Code allows other ways to save on taxes. Most of these vehicles are available to anyone, but it is the rich who usually look for them because they are minding their own business. For example, "1031" is jargon for Section 1031 of the Internal Revenue Code, which allows a seller to delay paying taxes on a piece of real estate; that is sold for a capital gain through an exchange for a more expensive piece of real estate. Real estate is one investment vehicle that allows such a great tax advantage. As long as you keep trading up in value, you I will not be taxed on the gains, until you liquidate. People who do not take advantage of these tax savings offered legally are missing a great opportunity to build their asset columns.’
(from ‘Rich Dad Poor Dad’)

Above all, the best way to manage your wealth is invest your money and time for your financial knowledge, so-called ‘Financial IQ’ in ‘Rich Dad and Poor Dad’. Your knowledge on the finance gives you the sense of reading market trend and understanding financial report which is well-known hint for proper investment. Furthermore, knowledge about a law is essential. If you aware of the tax law, you would get some advantages of legitimate tax reduction. As long as you’re young, investing for your education is the best investment policy. Money is mobile. But, your knowledge never leaves you as long as you have an iron will to be rich.



<Raised Questions>

1. Have you ever made money by yourself? How and how much? And how did you manage the money?

2. How have your parents managed their wealth? And what do they teach the way to manage your wealth?

3. What do you think about the ways of controlling money? Eval‎uate six well-known ways for management of money above!

4. If there are more ways other than the six ways above, will you introduce?

5. If you’re provided 10 million won, what will you do and how will you manage the money?

6. After graduating from your university, how will you make money and how will you control your financial resources?

7. Do you think speculation is also a kind of investment? If so, what do you think about stockjobbing or speculation of real estate?

Source http://myigs.com/board/zboard.php?id=enote&page=1&sn1=&divpage=1&sn=off&ss=on&sc=on&keyword=be%20rich&select_arrange=headnum&desc=asc&no=4130

[Serena]

스칼렛 언니~ 너무너무 수고하셨어요~ 이번 주 토픽 아주 fresh합니다~^^ 특히, 혈액형 관련 article.. 나 할 말 많다구욧~ㅋ 과연 Serena는 무슨 혈액형일까~요~~??^______^

[바쿠스 최치원]

우와 고마워.... 빨리 공부해야쥐 ㅎㅎㅎㅎ 수고했어..

[Dan)도언~]

회장님 고생하셨어요~~

[neojang]

Thank you!! Scarlet!! / peace in mind !!

[nighthawk]

너무 재밌어 보여요 ~~!

[Anna입니당(Anne)]

아~ 나도 넘 참여하고 시퍼~~ 잉잉~~

[푸하하하하]

와,,,~~ 길다..그래도 이번엔 함 참가 해 볼랍니다..내 뵈요~~..

[Samuel(Sam)]

고생하셨습니다!! 두시간동안 대화 안끊기겠어요~잘 읽을께요!

[히히미안]

와 이거 좋아요 ㅋ

[태희]

우와.. 고생의 흔적이 느껴진다~ 근사해요!! 회장님~

[yona.]

우와..멋져요 회장님~~ 브라보!!!!^^