Chapter 24 Three wallets in a person's life

A person (expanded can also refer to a company) will have three wallets in his life, and he can use three kinds of money. One is cash or assets, which are materialized and visible.For example, if you deposit 1 million in the bank, you also have 1 million in real estate and 1 million in stocks. This is a wallet, a wallet that can be calculated.This wallet is what most people count every day. The second wallet is credit, how much money you can control in other people's pockets.For example, I called someone to borrow 1 million, and the money arrived in the afternoon.Although this money does not belong to me legally, it is within my control. This kind of money is difficult to measure because it is abstract and empty.When you are in need, you may borrow this money, which is a credit wallet.

The third is the psychological wallet. Some people spend 1 million and think it is quite small because they have 100 million;The same way of spending money in different situations and different mentality, the amount of money you feel is different.For example, when you are in trouble, one dollar may be worth 1 million to you; when you have 100 million, 1 million does not seem like money, especially in a peaceful environment and life without worries. Therefore, people are constantly flipping the money in these three wallets throughout their lives.The money in the first wallet is the easiest to measure and easier to manage, like briquettes, they are kicked every time they are dirty and rotten.The second wallet is the most difficult to manage. The credit asset is a hydrogen balloon floating in the sky. It can fly very high, but it is also very fragile, and it will explode once it is tied.Therefore, the greater the company, the more afraid it is to complain, and the more afraid it is that someone will pierce its "balloon".Good companies and good people use other people’s money, and if you spend too much, someone will naturally supervise you, so the second wallet cannot be opened easily; but the resources that cannot be mobilized without opening are limited; the more resources are mobilized, the greater the credit , you are also more vulnerable.Therefore, public companies are easily knocked down by scandals, but private family companies are not afraid.The third wallet is actually a psychological feeling.

There are two feelings that determine the size of your wallet. One is the change of the situation. There will be a psychological contrast between the amount of money spent when it is smooth and difficult; the second depends on the scarcity of money and its actual proportion in your heart. Rather than the absolute cost of money.The same cost 100 yuan, one accounted for 50%, one accounted for 10%, it is not the same.When a person allocates wallets throughout his life, he actually counts three wallets every day.To be a good enterprise is to enlarge the second wallet, adjust the third wallet, and keep the first wallet.Keeping the first one is fundamental, amplifying the second to promote the growth of the first wallet, and finally adjusting psychological expectations and actual risk control, so as not to put yourself in a high-risk place, so that the psychological wallet is always balanced.If expectations are out of touch with reality, your mental wallet is always unstable and you make hasty decisions.

Let's see how the first wallet bulged.I calculate that the money a person earns in his lifetime is about three-thirds.The first third is the cash and assets we are talking about. How is it earned? It is to accumulate slowly in the specialized field, buy cheap and sell expensive, look for price differences, and grow slowly through management. The amount earned Depends on the market share, the growth of the whole market.The second third is the bonus that the people of the whole country give you, so you have to be a law-abiding citizen and wait for the people to give you the bonus.When will it be sent out?I calculated the bonuses Li Ka-shing earned when Hong Kong dollars were exchanged for RMB in 1993. It turned out that RMB 40 cents was exchanged for 1 Hong Kong dollar. In 1993 and 1994, an exchange rate adjustment was made. 1 RMB was exchanged for 1 Hong Kong dollar, and the Hong Kong dollar doubled in value.If Li Ka-shing earned 100 yuan in cash assets before this, it became 200 yuan overnight, and the second 100 yuan did not pay any more labor. The 100 yuan was earned by the whole Chinese people for him.But to get this bonus, you must be a good person, and you must be able to survive without breaking the law. You have to be there when the bonus is paid. If you are in jail when the renminbi appreciates, there is nothing you can do about it.

It takes 20 to 30 years for a country's economy to take off. If you can survive for 15 or 16 years, you can basically get this bonus.Now the renminbi has started to appreciate slightly, 4%~5% per year, and it will rise to 50% in another 10 years. I will do nothing and keep my current wallet. After 10 years, my wallet will also rise by 50%.National wealth continues to increase and the renminbi continues to appreciate. The second third comes from the fact that the first third's business is stable and can persist until the bonus is paid.The third third is the bonuses issued by people all over the world.If I have a company worth 200 million US dollars and meet the conditions for listing in the United States, the capital market will set a price for my stock, and if I sell the stock in the future, people all over the world will give me another bonus.Like Baidu, they are a new company with no assets. They cross the second third and go directly to the world to get bonuses.Investors all over the world have rewarded their wisdom and intelligence, and rewarded them for creating a business model.If a person does well in his life and can get these three sums of money, he can become a very rich person.Of course, you must abide by the law. Every reward must be inspected first. The capital market, legal ethics are all weighing you, and finally the money will be sent to you.

Li Ka-shing has been in business for 40 years. He made some money selling plastic flowers and real estate, made another fortune from the appreciation of the Hong Kong dollar, and made a third fortune through continuous listing, so he became bigger.Most people only get part of the money.For example, if you open a restaurant, you will only earn that money for a lifetime, and changes in the exchange rate will not have much impact on him.Some people made a lot of money by going public, but because of poor basic skills, they didn’t stick to the business model well. When they got a lot of money when they went public, they were exposed by others. In the end, they got into trouble, the company went bankrupt, and the RMB appreciated It has nothing to do with you.Some people are stupid and sleep on the ground. Because they are stupid, they don’t make mistakes. After 10 years, the value of this land will appreciate and they can get bonuses from the people of the whole country.We encountered many such legendary stories in Hainan back then. Some people once dug a big pit, ran away because of debts, and ran back in Hainan. All they picked up from this pit were money.But this can only make a sum of money, and development is always limited.To be a good enterprise, it can earn these three sums of money. The first sum of money depends on accumulation, the second sum of money depends on patience, and the third sum of money depends on wisdom.The third tranche must be based on wisdom. The business model created by the company is recognized by investors in the capital market, and your return can be expected. For example, Alibaba did not make much money at the time, but people thought the future would be terrible, so they would give it to them in the same way. A sizable, even insane bonus (stock premium).

There are nothing more than three things related to money.One is to earn money, the other is to watch money, and the third is to spend money.Earning money is the best ability of Americans. 200 years ago, the GDP of the United States was very low, and it was a poor area. At that time, China’s GDP accounted for almost one-third of the world’s GDP. Now it is the turn of the United States to account for one-third.So to earn money, go to the United States to study.The money of the family for hundreds of years is called old money. The old money all over the world is in Europe. The old money has a smell, and the smell of each family is different.Europe was the first to get rich, and the inheritance of generations of families has become a machine for watching money. If you want to watch money, you have to go to Europe to learn.Europe is now making money by watching money, such as Luxembourg and Switzerland, watching money for the whole world, and the technology of watching money is so advanced that it can use it to support the country.The United States looks at money in a fluid state, and looking at money while making money is risky.

In Europe, there is a set of inheritance system that guarantees the stable property of the family for 100 years and 200 years. This system is very scientific. For example, when a person dies, the inheritance wants to be spent by the children without being squandered, and the trust agency divides the money into several piles. Some are put into public welfare funds, some are put into investment funds, and some are used to support children. Children receive living expenses every month instead of all at once;Luxury consumption and money are all in Asia.Asia has a short history of getting rich, and it takes about 100 years to get rich.People who have just become rich must be vicious consumers, and they must have an addiction.In China, no matter how elegant a person is, he is a professor from Peking University. He was imprisoned for 5 years, and he was hungry every day. The first thing he released was to grab Hegel’s philosophical treatises, or go to a restaurant to eat first. Meat?I think it must be to eat meat first—because I was too miserable and poor, so I ate meat first when I first consumed it. After eating the meat, I took a breather, got a good house and a good car, and then fell in love, expanded the scope of consumption, and traveled. After all these are satisfied, it’s time to honor the ancestors and build a grave for the family; after being elegant, play with art and create a culture; after these are all done, start investing seriously and doing charity .Asians are basically in the stage before the graves are repaired. The meat has not been eaten, and the graves have not been repaired. It is a lie to do charity now.Asia has a strong ability to make money. Private families want to build luxury houses, and the government wants to build buildings. Showing off and vicious consumption are very serious in Asia.

If you want to earn more money, go to the United States, there is no harm; if you want to see money, go to Europe; if you want to spend money, stay in Asia.