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by 趙永祥 2020-08-27 08:21:44, Reply(1), Views(132)


2020台灣下半年經濟表現淺析


2020-08-27


台灣經濟到底好不好?


財信傳媒董事長謝金河在臉書表示,可以比較各國公布的數字,單從第二季來看,台灣在全球排名僅次於中國,越南排名第三。


全世界第二季GDP只有中國、越南是正成長,其他都是負值,台灣的負0.73%,在全球排名第三;比美國負32.9%,日本負27.8%,歐元區負12.1%,或比新加坡,南韓,香港,甚至是一向高成長的東協各國,台灣都顯得出色。


他說,他近來最常被問到兩個問題,尤其是一些藍營大老總以十分懷疑的口吻問「台灣經濟真的有這麼好?」也有人質疑公布的經濟數據是不是造假?另一個問題是台積電聯發科漲那麼多了,「股票還可以買?」


財信傳媒董事長謝金河說,進入下半年,台灣內需消費在類出國及國旅盛況下,過去台灣民眾每年拿錢到國外旅遊消費逾8000億元,這回出不了國門,變成在國內花錢,「對提升台灣內需有幫助」,下半年經濟表現會優於上半年,這是可以期待的事。


更重要的是,「台積電的護國神山效應愈來愈強大」。謝金河說,台積電執行長魏哲家說,「疫情為台積電帶來大商機」,台積電在先進製程已遙遙領先,除了帶來新的產業聚落效應,台積電設備本土化,也帶動完整的產業鏈,甚至很少看好的綠電產業,也因為台積電包下沃旭產能,也使台灣的離岸風力發電及太陽能產業士氣大振,台積電領導全台灣半導體產業鏈已獨步全球。


他說,這次聯發科受華為的衝擊,股價跌掉212元,這只是短暫利空,聯發科稍加調整,很快又會回到成長軌道。當然,很多停留在傳統模式的行業,像石化、鋼鐵仍然辛苦。機會永遠屬於對這塊土地有信心的人,生於斯,長於斯的人,只有先看得起自己,才能征戰世界。




by 趙永祥 2020-03-22 05:38:51, Reply(0), Views(252)

                                    

          世界多國正式進入「新鎖國時代」

         
                                                Date: 2020.03.22


新冠肺炎COVID-19疫情從中國大陸擴散至全球,各國也開始積極展開防疫手段,全面啟動「鎖國」政策圍堵疫情。歐盟實施暫時性外部邊境禁令,未來30天禁止外籍人士在非必要情況下進入歐盟,是首次對外大規模關閉歐洲外部邊境。此外,菲律賓也宣布暫時關閉股市、債市和匯市交易,成為全球第一個因為新冠肺炎疫情擴大而關掉金融市場的國家。

聯合新聞網整理以下,包含「境內」如限制民眾外出活動、出境;「境外」如關閉邊界等各國封鎖的應對措施。

境內封鎖國家

印度施行禁足令

印度總理莫迪宣布全印度22日上午7時至晚間9時施行禁足令,所有人不得離開住家、上街和到處遊走,為防疫做好準備。

加州封城令

美國加州州長紐松19日晚間(台灣時間20日上午)要求全州約4000萬民眾今夜起「居家」防疫,只有必要的時候才出門。

義大利全國封鎖

10日宣布全國封鎖,時間到4月3日為止,祭出全球迄今最激烈的防疫措施。全義各地區的居民除了工作或健康等緊急因素,不得任意出城。全義學校延長關閉至4月3日。

西班牙全國封鎖

3月15日開始採取為期15天全國封鎖措施,禁止民眾離開住家,除非是外出前往工作或採買民生必需品等。

美國舊金山「就地避難」

17日開始的直到4月7日,包括矽谷在內的當地舊金山市民若沒有特別需要,實施「就地避難」,居民必須留在家中,多數商家將會暫停營業。

境外封鎖:

海地關閉交通與邊界

海地總統摩依士宣布,境內首度出現新冠肺炎病例,旋即宣布進入緊急狀態,關閉海空交通與邊界、實施宵禁等措施。

巴西關閉陸地邊界

巴西政府20日下令關閉陸地邊界15天,只保留與烏拉圭邊界仍然開放。

以色列全面封關

以色列政府3月9日晚間宣布鎖國對策。自12日起,以色列將對無差別對「海外入境者」強制實行14天的防疫隔離;不能承諾並提供隔離計畫的外籍人士,將被拒絕入境。

加拿大關閉邊界

17日政府決定關閉邊界,禁止所有非加拿大公民或永久居民入境,加國公民直系親屬、美國公民、外交官和空服人員除外。

俄羅斯禁外國人入境

5月1日前禁止外國民眾入境,關閉莫斯科公立學校、限制公眾聚會。

台灣禁外國入境

中央流行疫情指揮中心指揮官陳時中說,非本國籍一律限制入境,所有入境者皆需居家檢疫14天。

陳時中宣布,國際疫情持續升溫,境外移入個案暴增,宣布非本國籍人員一律限制入境。不分國籍,所有入境者一律居家檢疫14天,19日凌晨零時起實施。

紐西蘭禁外國入境

紐西蘭於19日晚上11時59分起關閉邊境,禁止所有外國人入境。禁止入境的實施對象,將包括持學生簽證人士、臨時工作簽證持有人、以及來自太平洋島國人士。

在禁止入境措施公布之前已登機前往紐西蘭途中的人士,將可以入境紐西蘭。另外,空勤人員和貨船海員,也並未納入禁止人境的實施對象。

澳洲禁外國入境

澳洲政府19日宣布,自20日晚間9時起禁止所有外國人入境。在海外的澳洲人趁著有飛機趕快回澳洲,從外地返國的澳洲居民則必須在抵達澳洲後隔離14天。

奧地利禁外國入境

奧地利西部提洛爾邦政府表示,提洛爾邦今天起封城至4月5日,以遏止新冠肺炎疫情擴散。提洛爾邦首長普拉特(Guenther Platter)說,只有在必須滿足基本需求、提供公共服務,或外出工作的情況下,才准離開他們的村莊或城鎮。

境內、境外皆封鎖

法國進入「戰爭狀態」

法國總統馬克宏表示現在法國處在「戰爭狀態」,居民自17日中午起必須待在家中,只有必要活動才能出門,例如採買食物、看病、上班,且都需與人保持距離,否則違者將受罰,禁令維持至少15天。此外,已與其他歐盟國家達成協議,17日起將關閉邊境30天。

捷克全國封鎖

捷克16日起禁止所有外國遊客入境,所有捷克公民也不得出境。

德國下外出禁令

17日下令關閉商店、餐廳縮短營業時間、宗教場所暫停集會,並要求公民待在家裡,並宣布即日起禁止非歐盟人士入境

馬來西亞「鎖國」

18日起至31日鎖國自保,禁止所有國人出國,也禁止所有外國人入境。



馬來西亞預期新冠肺炎疫情將蔓延很久,首相慕尤丁宣布,從18日到31日封鎖全境,防止新冠肺炎疫情擴大。 美聯社馬來西亞預期新冠肺炎疫情將蔓延很久,首相慕尤丁宣布,從18日到31日封鎖全境,防止新冠肺炎疫情擴大。 美聯社



by 趙永祥 2019-07-07 08:28:41, Reply(0), Views(378)


        《金剛經》要義對企業組織管理與其穩健成長之研究


論文名稱:《金剛經》要義對企業組織管理與其穩健成長之研究
論文名稱(外文):Diamond Sutra Research on Corporate Organizational 
Management and Steady Growth
指導教授:黃國清 博士(南華大學宗教學研究所副教授)
論文出版年:2019
校院名稱:南華大學
系所名稱:宗教學研究所


本論文重點摘要:

1. 本研究以《金剛經》為主要論述磐石,在進行深度訪談中挑選出三位台灣傑出企業領袖,在訪談中一致提到:數十年來因體悟到《金剛經》所強調的「應無所住而生其心」,「一切有為法,如夢幻泡影,如露亦如電,應作如是觀」,在世間所擁有的名利財富都只是一時而無法長久的,人之生命只有使用權而無所有權,因此更積極投入社會回饋並善盡企業社會責任。


2. 另一方面,本論文研究除深入探討《金剛經》要義與企業經營管理的連結關係,研究方法以「深度訪談法」整理出台灣地區三位傑出企業領袖如何有效運用《金剛經》要義在實際的企業經營管理並得到明顯得經營管理成效。


3. 《金剛經》「應無所住而生其心。」

(1)白話注釋提到:「人世間的痛苦、煩惱,都因執著、放不下而生起。」
說明「應無所住而生其心」對於企業組織中居上位者與其部屬在內部溝通與經營管理的過程中需放下彼此的成見與對立是很重要的,放下是無所住,直下承擔是生其心,自我肯定「我是佛」則是智慧。

(2)「持誦金剛經能增長智慧,去除愚痴心,累積福德因緣。」

(3)《金剛經》要義中所提到的「三心」不可得:過去心、現在心、未來心是不追憶過去、不攀著現在、不幻想未來,如此一來,生命層次才能提升,心才會來去自如,無所障礙。


4. 本論文研究得出一重要結論:
經由深度訪談彙整訪談內容得知這三位台灣的傑出企業領袖同時也是佛光山的資深功德主,數十年來均善用《金剛經》經義為組織管理之磐石,將企業由內部良性組織管理走向穩健成長並邁向永續發展之成效是明顯且正向的。



此一碩士論文收錄於國家圖書館臺灣博碩士論文知識加值系統

論文網址
https://hdl.handle.net/11296/bsjx25


Date: 2019/7/7


by 趙永祥 2019-07-03 20:02:28, Reply(1), Views(453)

                《材或不材
                                                          

◎原文                         材或不材

 

莊子行於山中,見大木,枝葉盛茂。伐木者止其旁而不取也。問其故,曰:「無所可用。」莊子曰:「此木以不材得終其天年。」

夫子出於山,舍於故人之家。故人喜,命豎子殺雁而烹之。豎子請曰:「其一能鳴,其一不能鳴,請奚殺?」主人曰:「殺不能鳴者。」

明日,弟子問於莊子曰:「昨日山中之木,以不材得終其天年;今主人之雁,以不材死。先生將何處?」

莊子笑曰:「周將處夫材與不材之間。材與不材之間,似之而非也,故未免乎累。若夫乘道德而浮游則不然。」

 

◎大意

 

莊子走在山路上,看到一些大樹,枝繁葉茂,可是木匠卻只是站在一旁而不去砍伐它。莊子問說為什麼不砍它,木匠回答:「這些樹材質太差,沒什麼用處!」莊子對弟子們說:「這些樹就是因為沒有用處,才能長得這麼高大啊!」

莊子下山之後,到一個朋友家去,這朋友很高興,就叫用人殺鵝款待莊子。這用人問說:「我們養的鵝一隻會叫、一隻不會叫,請問要殺哪一隻才好呢?」主人說:「殺那隻不會叫的好了。」

第二天,弟子請問莊子說:「昨天那些山中的大樹,因為不能成為材料,所以沒有被砍伐,可是今天看到這隻鵝,卻是因為不會叫而被殺。請問老師到底要怎麼做才對?」

莊子笑笑著說:「如果是我啊,我希望在有用和無用之間取得平衡。但是,有用和無用看來相似,卻又難以區分,在材與不材、有用和無用之間如何拿捏,實在是很困擾!所以唯有順應大道的變化、順其自然而行,才能免於困擾啊!」

 

◎意涵

 

從小我們就被教導、被鼓勵,長大要做一個有用的人,不只有用,還要做一個成功的人!人為了要盡其才、為了要成功,所以一輩子在塵勞之中奔忙。

我們是不是可以暫時停下匆忙的腳步,把向外攀緣的心收回來,捫心自問:五欲六塵能滿足你嗎?什麼才是你真正想要的?什麼才是最有價值的?如何在有用與無用之間取得平衡?如何在盡其才當中又不會迷失自己的本性?

這之間的難以抉擇就在於「承擔」或「放下」。看得透、才放得下,放不下、就提起來,好好的承擔;該承擔的時候不要逃避,不需要你逞強的時候就不要勉強。不要預期你會得到掌聲,也不要設定你會有多高的成就,只要如實去面對你的問題,不迎不拒,順其自然而行,這樣不是很自在嗎?

 


◎原文                  材或不材

 

莊子行於山中,見大木,枝葉盛茂。伐木者止其旁而不取也。問其故,曰:「無所可用。」莊子曰:「此木以不材得終其天年。」

夫子出於山,舍於故人之家。故人喜,命豎子殺雁而烹之。豎子請曰:「其一能鳴,其一不能鳴,請奚殺?」主人曰:「殺不能鳴者。」

明日,弟子問於莊子曰:「昨日山中之木,以不材得終其天年;今主人之雁,以不材死。先生將何處?」

莊子笑曰:「周將處夫材與不材之間。材與不材之間,似之而非也,故未免乎累。若夫乘道德而浮游則不然。」

 

◎大意

 

莊子走在山路上,看到一些大樹,枝繁葉茂,可是木匠卻只是站在一旁而不去砍伐它。莊子問說為什麼不砍它,木匠回答:「這些樹材質太差,沒什麼用處!」莊子對弟子們說:「這些樹就是因為沒有用處,才能長得這麼高大啊!」

莊子下山之後,到一個朋友家去,這朋友很高興,就叫用人殺鵝款待莊子。這用人問說:「我們養的鵝一隻會叫、一隻不會叫,請問要殺哪一隻才好呢?」主人說:「殺那隻不會叫的好了。」

第二天,弟子請問莊子說:「昨天那些山中的大樹,因為不能成為材料,所以沒有被砍伐,可是今天看到這隻鵝,卻是因為不會叫而被殺。請問老師到底要怎麼做才對?」

莊子笑笑著說:「如果是我啊,我希望在有用和無用之間取得平衡。但是,有用和無用看來相似,卻又難以區分,在材與不材、有用和無用之間如何拿捏,實在是很困擾!所以唯有順應大道的變化、順其自然而行,才能免於困擾啊!」

 

◎意涵

 

從小我們就被教導、被鼓勵,長大要做一個有用的人,不只有用,還要做一個成功的人!人為了要盡其才、為了要成功,所以一輩子在塵勞之中奔忙。

我們是不是可以暫時停下匆忙的腳步,把向外攀緣的心收回來,捫心自問:五欲六塵能滿足你嗎?什麼才是你真正想要的?什麼才是最有價值的?如何在有用與無用之間取得平衡?如何在盡其才當中又不會迷失自己的本性?

這之間的難以抉擇就在於「承擔」或「放下」。看得透、才放得下,放不下、就提起來,好好的承擔;該承擔的時候不要逃避,不需要你逞強的時候就不要勉強。不要預期你會得到掌聲,也不要設定你會有多高的成就,只要如實去面對你的問題,不迎不拒,順其自然而行,這樣不是很自在嗎?


出處︰莊子 




出處: 禪心學苑






by 趙永祥 2019-06-29 22:17:18, Reply(0), Views(266)


           《渾沌之死


◎原文                         渾沌之死

 

南海之帝為儵,北海之帝為忽,中央之帝為渾沌。

儵與忽時相下遇於渾沌之地,渾沌待之甚善。

儵與忽謀報渾沌之德,曰:「人皆有七竅以視聽食息此獨無有,嘗試鑿之。」

日鑿一竅,七日而渾沌死。

◎大意

 

南海的帝王叫做儵,北海的帝王叫做忽,中央的帝王叫做渾沌。

儵和忽常常相約到渾沌住的地方遨遊,渾沌對待牠們很友善。

儵與忽為了回報渾沌的善意,就商量說:「人都有七竅,才能看得到、聽得到,才能飲食和呼吸,渾沌卻連一竅都沒有,不如我們來為牠開竅吧!」

儵與忽每天為渾沌鑿一個竅,七天以後,渾沌就死了。

 

◎意涵

 

渾沌之所以為渾沌,正是因為連一竅都沒有,有了七竅就不叫渾沌了。而我們人最怕的就是不開竅,總是希望聰明、機智、靈巧。

實際上莊子不是崇尚愚蠢、無知,他所要達到的「無知」是超越知識的「無知」,是老子的「絕聖、棄智、忘形、去欲」,是「無為而為」,是與自然合而為一的大智慧!



Source: 禪心學苑





by 趙永祥 2019-05-27 23:46:57, Reply(6), Views(593)



  修持《金剛經》十項重要體悟


以下是筆者在近三十年修持《金剛經》的十項重要體悟


一、是釋迦牟尼佛示現,修行就在行住坐臥的日常生活中,平實、平淡,無造作。


二、要具有善根,發阿耨多羅三藐三菩提心度盡所有一切眾生

包括卵、胎、濕、化四生及若有色、若無色和若有想、若無想、

若非有想、非無想之三界眾生。


三、要無四相│無人相、無我相、無眾生相、無壽者相。


四、要三輪托空不住相布施│無能施之心、不見有施之物和不分別受施之人。


五、要淨信│能淨信就能得我法二空的智慧和破我法的二種執障

《華嚴經》講:「信為道源功德母」,

《大乘百法明門論》中說:「信差別略有三種:一信實有;二信有德;三信有能。」

起信敬之心,心便清淨,可見正信之重要。


六、要修無諍三昧

六祖說:「諍是勝負心,與道相違背,便生四相心,何由得三昧?」

由於與人有諍,廣造惡業,於是都在生死輪迴中流轉不已而不能得正定,痛苦萬分。


七、「應無所住而生其心」。

五祖引六祖讀《金剛經》至此,而大徹大悟。

他悟後說了幾句永垂宇宙的話:

「何其自性本自清淨;何其自性本無生滅;何其自性本自具足;

  何其自性本無動搖;何其自性能生萬法。」


八、釋迦牟尼佛說:「須菩提諸微塵,如來說非微塵,是名微塵」│

「微塵」是指色體之極少為極微,七倍極微為微塵。

佛所說的微塵,不是實有的,只是假法而已。

因為眾生執著由許多微塵合成的這個世界,都是地、水、火、風四大種所造,

把它認為是實有。

殊不知眾緣和合微塵聚在一起,即成一世界;

眾緣一離散,微塵各自分化,就壞了此世界,

所以世界是隨時隨地處在成、住、壞、空中的,怎可說它是實有的呢?

「諸微塵,如來說非微塵,是名微塵」,

若以辯證法來說,「諸微塵」就是正,佛法說的「有」;

「非微塵」即反,佛法說的「空」;

「是名微塵」就是合,佛法說的「即空即有、即有即空」義,

這也就是佛法所說的「緣起性空、性空緣起」的道理。


九、要修忍辱波羅蜜。即受到任何欺侮凌辱的環境,都要心不動搖,

生畏懼,不生瞋恨,做到泰山崩於前而面不改色,

難行能行,難忍能忍,談何容易,但要心嚮往之,往前修。

所以釋迦牟尼佛說,過去五百世,做過忍辱仙人。


十、要三際托空│過去心不可得、現在心不可得、未來心不可得。

「佛法精要」:

『不回憶過去,不展望未來,不分別現在,但以慈悲喜捨,落在慧照中。』

我們凡夫眾生,每天都在三心不可得中,顛顛倒倒,倒倒顛顛。

應是把握每一個當下,善用今生難得色身勇猛精進修行為要!


Written by Dr. Chao Yuang Shiang (趙永祥 博士)

 Faculty, Dep. of Finance, Nan Hua university

 (南華大學財務金融學系暨財務管理研究所 專任助理教授)

 27- May- 2019 

by 趙永祥 2019-05-04 06:44:06, Reply(0), Views(683)


  • 個人健康檢查費用須與醫療有關始可列為綜合所得稅列舉扣除額

      

  • 財政部臺北國稅局表示,常有民眾詢問自行至醫院做健康檢查之費用可不可以列報為綜合所得稅的醫藥費列舉扣除額?
      

  • 該局說明,納稅義務人為瞭解自己身體狀況所做之健康檢查費,與醫療行為無關,不可於個人綜合所得稅之醫藥費項下列舉扣除。惟若係經醫生建議所為需要進一步醫療檢查及檢驗,所支付之費用得依所得稅法規定申報醫藥費列舉扣除額。
      該局指出,所得稅法規定「醫藥費」列舉扣除額係針對身體病痛接受治療而支付之醫療費用,於計算所得淨額時准予列舉扣除。納稅義務人為瞭解自己身體狀況到醫療院所,所作之健康檢查,雖取具公立醫院、全民健康保險特約醫療院、所,或經財政部認定其會計紀錄完備正確之醫院之收費收據,仍不得列報扣除。惟若係因接受健康檢查發現罹患疾病產生後續治療,所支付之健康檢查費,或因先前之疾病治癒,後續有進行追蹤必要所產生之健康檢查費,皆屬與醫療有關,得檢附醫師(院)診斷證明申報醫藥費列舉扣除。
      民眾如有稅務疑義,可就近向國稅局洽詢,或於上班時間撥打免費服務電話0800-000321,將有專人為您詳細解說。
    (聯絡人:中北稽徵所程股長;電話2502-4181分機3150)


  • 更新日期:108-05-03


所列資料若有任何不明瞭之處,敬祈隨時與我聯繫。
祝您工作順心~


Kind regards,
Jason


==============================
22068 新北市板橋區中山路二段405-1號4樓

王建棟   Jason Wang  CPA/CIA
Cel :+86 136 7014 2939(China)
Skype/Line/Wechat:jasonwang1115
==============================
by 趙永祥 2019-04-21 09:23:15, Reply(0), Views(390)



採購經理人指數

(Purchasing Managers' Index, PMI)

採購經理人指數(Purchasing Managers’Index, PMI)為一綜合性指標,
係每月對受訪企業的採購經理人進行調查,並依調查結果編製成的指數。採購經理人通常是指企業中負責支付原料或產品採購金額的最高層級負責人,以製造業而言,通常由採購相關部門(採購、資材、供應鏈管理等)經理級以上高階主管填寫問卷,少數則由財務相關部門高階人員填寫;至於非製造業因較無實體存貨概念,難以直覺定義採購經理人,問卷可能由商品企劃部、公共事務部、投資部或財務部等高階主管填寫。

臺灣採購經理人指數係參考美國ISM(Institute for Supply Management, ISM)編製方法,調查範圍包括製造業與非製造業。其中,製造業以新增訂單數量、生產數量、人力僱用數量、存貨,以及供應商交貨時間等5項細項擴散指數(Diffusion Index)綜合編製而成 ;非製造業組成項目則包括商業活動、新增訂單數量、人力僱用數量,以及供應商交貨時間等4項擴散指數。

採購經理人指數介於0%~100%之間,若高於50%表示製造業或非製造業景氣正處於擴張期(Expansion),若低於50%表示處於緊縮期(Contraction)。


註:擴散指數(Diffusion Index)係衡量景氣變動方向的一種常見指標

PMI調查請採購經理人針對各項經濟活動與上月進行比較,

並在問卷中勾選「上升」、「持平」或「下降」,而擴散指數即為「上升」比率×1 +「持平」比率×0.5。


by 趙永祥 2019-03-14 00:37:02, Reply(0), Views(508)


Ten Ways to Ensure Success as an Entrepreneur


It's well-known that around 50% of new businesses will close within the first five years. However, there is hope. A recent study by two economists from Stanford and the University of Michigan found that failed entrepreneurs are much more likely to be successful their second time around. In short, wannabe entrepreneurs can learn a thing or two from their already successful counterparts.

We tracked down successful entrepreneurs and asked them their number one tip for ensuring success. 


Have a servant’s attitude

Vladimir Gendelman, the founder of Company Folders, hit the nail on the head with this tip: “To succeed in business, you must have a servant's attitude. Most business owners think, 'Finally, I'm my own boss!' They relish the idea of being in charge. But that idea is false. In a normal job, you have one boss, but as a business owner, everyone is your boss: customers, vendors, even your employees. When you have a servant's attitude, you recognize that it's your job to make those three groups happy,” he says.


Stick to the business plan

Many new business owners underestimate the power of a business plan. Nicholas Kensington, Scottsdale Real Estate Agent, shares “I think so often so many of us think we don't need a business plan, or that it might be a waste of time. It's not. Writing up the business plan, and making sure to get rid of anything vague was so helpful. Hammering this down to be as specific as possible with what I would do next helped me greatly.” (Also read, How to Write a Business Plan.)

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Provide value to others

Being passionate about your business is important if you want to make it long-term. In addition to passion, you also have to “identify something that provides value to others,” according to founder and CEO of Hush Hush Little Baby Newborn Care, Haleigh Almquist.


Be better than your competition

Almquist says another tip for success is outing your competition: “Respond to clients faster, work longer hours and take smaller profit margins." To be in business long-term, you have to make sacrifices upfront.


Hire someone to do the easy tasks

We love Allen Walton’s tip from Spy Guy Security: “Hire someone to do the $10 per hour tasks so you can do the $100 per hour tasks. I can't stress this enough and am totally guilty of doing this. I try to 'save money' by doing the small tasks that practically any untrained person can do – like going to the post office or packing orders, but I should be doing the stuff that doubles my business revenue and increases profitability,” says Walton.


Network like crazy

Almost every single entrepreneur we spoke with mentioned the value of networking. You can’t have a business without customers, so get out there and meet as many people as you can. Dr. Jeanett Tapia of Intouch Chiropractic went door-to-door meeting people in the neighborhood before opening. “By the time we opened our doors, we had 25 new patient appointments due to those long hours of getting to know our neighbors and other business owners. It paid off!” she exclaims.


Be generous with your employees

Your employees are the face of your business. Treat them fairly, and your company will reap the benefits. Curtis Boyd, the founder of Future Solutions Media, says, “It's important to maintain an image of authority and generosity. You want to be the boss who rewards employees on good hard work. People will work harder for you and your business will be more successful.”


Set up a tax account from day one

Don’t let taxes be what sinks your business. Rebecca West, an interior designer and author of upcoming book Happy Starts at Home, shares her advice. “From day one, set up a tax account (it’s straightforward, just set up two checking accounts at your bank) and put at least 10% of every single check you get into that account. One of the big things that sink a new business is not having the cash to cover those taxes at the end of the year,” she says.


Take care of your physical health

Surprisingly, many entrepreneurs mentioned how to be successful in the professional world, you have to take care of your physical health. Get exercise every day, meditate and eat healthy foods. Tasha Mayberry of Best in Baby Bizshares a few tips on healthy living: Drink two full glasses of water in the morning and always eat a healthy, clean breakfast. “By doing these things, I am laser focused all day long,” she shares.


Test your idea before launching it

You may think you have a great idea – but do other people? Many of the entrepreneurs we spoke with said you should always test your idea or product before going “all in.” Make sure you get a few second opinions on your business and have people that are interested in what you’re doing. For example, Travis Bennett, Managing Director of Studio Digita, freelanced and developed a steady stream of clients before launching his agency. The more you can test your business, the better chances you have of success.


The Bottom Line

To ensure success as an entrepreneur, learn as much as you can from other, successful entrepreneurs, test your product or idea before launching it, and never give up. Passion coupled with hard work and determination will lead to a successful business.

by 趙永祥 2019-03-11 00:06:27, Reply(0), Views(438)


To invest or to reduce debt – that's the question

Investors face the dilemma of whether to pay down debt with excess cash or to invest that money in an attempt to turn it into even greater amounts of wealth. If you pay off too much debt and reduce your leverage, you may not garner enough assets to retire. Conversely, if you're too aggressive, you may end up losing everything. In order to decide whether to pay down debt or invest, you must consider your best investment options, risk tolerance, and cash flow situation.

Pay Down Debt or Invest?

All debt is not equal. The type of debt you have can play a role in the decision as to whether to pay it off as soon as possible or put your money toward investments.

From a numbers perspective, your decision should be based on your after-tax cost of borrowing versus your after-tax return on investing. Suppose, for instance, that you are a wage earner in the 35% tax bracket and have a conventional 30-year mortgage with a 6% interest rate. Because you can deduct mortgage interest (within limits) from your federal taxes, your true after-tax cost of debt may be closer to 4%.

Student loans are a tax-deductible debt that can actually save you money. The IRS allows you to deduct the lesser of $2,500 or the amount you paid in interest on qualified student loans that were used for higher education expenses, although it phases out at higher income levels.

If you hold a diversified portfolio of investments that includes both equities and fixed income, you may find that your after-tax return on money invested is higher than your after-tax cost of debt. For example, if your mortgage is at a lower interest rate and you are invested in riskier securities, such as small-cap value stocks, investing would be the better option. If you're an entrepreneur, you also might invest in your business rather than reduce debt. On the other hand, if you are nearing retirement and your investment profile is more conservative, the reverse may be true.

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What Is Your Risk Tolerance?

Risk tolerance is the degree of variability in investment returns that an investor is willing to withstand.

When determining risk, consider the following:

  • Your age
  • Income
  • Earning power
  • Time horizon
  • Tax situation
  • Any other criteria that are unique to you

For example, if you're young and able to make back any money you might lose and have a high disposable income in relation to your lifestyle, you may have a higher risk tolerance and be able to afford to invest more aggressively versus paying down debt. If you have pressing concerns, such as high health care costs, you may also opt not to pay down debt.

Rather than investing excess cash in equities or other higher-risk assets, however, you may choose to keep greater allocations in cash and fixed-income investments. The longer the time horizon you have until you stop working, the greater potential payoff you could enjoy by investing rather than reducing debt, because equities historically return 10% or more, pretax, over time.

A second component of risk tolerance is your willingness to assume risk. Where you fall on this spectrum will help determine what you should do. If you are an aggressive investor, you will probably want to invest your excess cash rather than pay down debt. If you are fairly risk-averse in the sense that you cannot stand the thought of potentially losing money through investing and abhor any kind of debt, you may be better off using excess cash flow to pay down your debts.

However, this strategy can backfire. For instance, while most investors think paying down debt is the most conservative option to take, paying down – but not eliminating – debt can actually produce results that are the opposite of what was intended.

For example, an investor who aggressively pays down his mortgage and winds up with meager cash reserves may regret his decision should he lose his job and still need to make regular mortgage payments.


Building a Cash Cushion and Managing Debt 

Financial advisors suggest that working individuals have at least six months' worth of monthly expenses in cash and a monthly debt-to-income ratio of no more than 25% to 33% of pretax income. Before you begin investing or reducing debt, you may want to build this cash cushion first, so that you can weather any rough events that occur in your life.

Next, pay off any credit card debt you may have accumulated. This debt usually carries an interest rate that is higher than what most investments will earn before taxes. Paying down your debt saves you on the amount that you pay in interest. Therefore, if your debt-to-income ratio is too high, focus on paying down debt before you invest. If you have built a cash cushion and have a reasonable debt-to-income ratio, you can comfortably invest.

Keep in mind that some debt, such as your mortgage, is not bad. If you have a good credit score, your after-tax return on investments will probably be higher than your after-tax cost of debt on your mortgage. Also, because of the tax advantages to retirement investing, and given the fact that many employers partially match employee contributions to qualified retirement plans, it makes sense to invest versus paying down other types of debt, such as car loans.

If you are self-employed, having cash on hand may mean the difference between keeping the doors open and having to go back to work for someone else. For example, suppose that an entrepreneur with a fairly tight cash flow gets an unexpected windfall of $10,000, and he or she has $10,000 in debt. One obligation carries a balance of $3,000 at a 7% rate, and the other is $7,000 at an 8% rate.

While both debts could be paid off, he or she has decided to pay off only one, in order to conserve cash. The $3,000 note has a $99 monthly payment, while the $7,000 note has a $67 monthly payment. Conventional wisdom would say he or she should pay off the $7,000 note first because of the higher interest rate.

In this case, however, it may make sense to pay off the one that provides the greatest cash flow yield. In other words, paying the $3,000 note off instantly adds nearly $100 a month to his or her cash flow, or almost 40% cash flow yield ($99.00 x 12 / $3,000). The remaining $7,000 can be used to grow the business or as a cushion for business emergencies.

Balanced Budgeting Methods

There are a number of different budgeting methods that account for both debt repayment and investments. For instance, the 50/30/20 budget sets aside 20% of your income for savings and any debt payments above the minimum. This plan also allocates 50% to essential costs (housing, food, utilities), and the other 30% for personal expenses.

Oprah's Debt Diet allots 15% of income to debt repayment and 10% of income to savings.

Financial expert Dave Ramsey offers a back-and-forth approach to tackling debt and investments. He suggests saving $1,000 dollars in an emergency fund before working to get out of debt, excluding your home mortgage, as quickly as possible. Once all debt is eliminated he advises going back to building an emergency fund that contains enough funds to cover at least three to six months of expenses. Next, his plan calls for investing 15% of all household income into Roth IRAs and pre-tax retirement plans while also saving for your child's college education, if applicable.


The Bottom Line

Knowing whether to pay down debt or invest depends not only on your economic environment but also on your financial situation. The trick is to set reasonable financial goals, keep your perspective, and evaluate your investment options, risk tolerance, and cash flow.

Take a look at your personal finances to determine where your money will make the most impact. If the hard math doesn't help you to decide between one or the other, try tackling both at the same time, or else put your focus on the financial goal that will give you the most peace of mind.

by 趙永祥 2019-03-04 01:05:49, Reply(0), Views(529)



How to Save Your First $100,000


We've all weathered economic uncertainty in the past decade as financial institutions, companies and countries have stumbled, struggled and are now working to stand back up. But even in times of relative calm for the global economy, it's not unusual to worry and wonder about your own financial security.

Financial stability, apart from being able to pay unexpected bills and fund your own retirement, gives you the confidence and strength to go through everyday life. By saving money and increasing your income, you can move toward banking your first $100,000. And once you do that, the way to the next $100,000 becomes easier.


The Right Mindset

Saving your first $100,000 is a goal that is neither short-term nor easy. To get there you need to start training your mind. You need to understand how to achieve this goal and plan accordingly. If you are the kind of person who rarely budgets or takes note of expenses, now would be the time to start.

All actions need to be oriented towards achieving the goal of saving. Little things can add up. Reducing that daily Starbucks habit or taking public transportation to work instead of driving a few days a week can help. If you understand that these are minor sacrifices for a little less financial uncertainty, the going will be smoother.


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Create Short-Term Saving Goals

It's all very well to imagine yourself in a country home post-retirement, but that distant vision may not get you going today. To really stay motivated, break your long-term saving goals into short-term goals. They can be weekly goals.

For example, a man who ran a dry-cleaning service decided he would take some small change everyday and put it into his daughter's college fund, starting from when she was five years old and continuing until she reached 18. Setting aside a little change didn't hinder his business or day-to-day life, but it did mean that he had a tidy sum saved by the time his daughter was ready to go to college.

Starting the process early and saving small amounts steadily helps you know you have made progress covering the distance of a long journey. You can have daily saving goals too. This will help keep you fired up for the longer-term goals. Savings accounts, certificates of depositsmoney market deposit accounts and Treasury bills are good short-term money-saving instruments. A savings account is particularly useful as an emergency fund keeper. 

Save on Taxes

If you are employed and your employer offers one, go for a 401(k) tax-deferredsavings plan. The amount you contribute to the plan and the earnings on it are tax-free until you pull the money out for retirement. The percentage you contribute also reduces your taxable income by the same percentage.

Early on in your career, you can invest in stocks more aggressively. If your employer does not offer a 401(k) plan, then consider opening an individual retirement account (IRA). Earnings in an IRA account are also tax-deferred. To enroll in either, all you have to do is fill out a simple form and contribute. This is a structured way to save, where the interest is compounded, with tax savings to boot.

Reduce Your Interest Burden

We want it all. We want the home, car, home theater system and the double-door fridge. With a few easy key strokes online, we can have it. But it turns out that instant gratification has a hefty price that can take years to repay and even years off your life.

Prioritizing debt and reducing it is the first critical step to saving. Take a look at all of your loans and see how long it will take you to whittle them down. If you do have savings or fixed deposits, you can liquidate some to reduce your debt burden. If you get a bonus or a dividend, think of prepaying a part of your mortgage to reduce your interest burden.

In the case of credit card debt, talk to your credit card company and negotiate a lower interest rate if possible. Companies will sometimes offer to take on other credit card company loans at a lower interest in their pursuit of new customers. If you need to take out a loan, make sure you look around carefully and choose to borrow money with the lowest interest rates. You'd be surprised by how many people don't do that. Ask friends and family who might be willing to extend interest-free loans for shorter periods.

Take Advantage of Employee Benefits

Look at how your employer can be your partner in your savings goal. Many employers offer a company match – that is, they contribute – to the 401(k) plans they have. Contribute aggressively. Avail yourself of any other benefits your employer may provide, like special discounts at stores, museum or health club memberships or health savings accounts. If your employer provides assistance for skill upgrading or "back to school" programs, take advantage of the opportunity.

Generate Additional Income

Generating revenue is the other tactic that will help you reach a $100,000 goal faster. Do you sew, do some other craft or teach? These are some hobbies that can help rake in some extra money. You could tutor children for a few hours a week or sell your crafts at the weekend market. You could spend some time investing in stocks or do some freelance projects. Don't let any of your skills or talents go to waste. They will help you earn some more money and keep you more fulfilled.

Keep Costs Low

There are always things you can do to keep your costs down. Some examples include: making more home dinners; walking short distances when possible rather than taking the car; taking your kids to the park or zoo rather than to the local mall; buying your groceries in bulk for the month, rather than making small purchases frequently; giving up smoking and other costly habits; taking lunch to work; using your car until it can't be used anymore; or buying a house within your means.

If you can't buy a home within your means, choose to rent; if you are not using that gym membership, then don't renew it. You can also recycle and reuse items as much as possible, use alternative energy to light and heat your home, and sell whatever clothing or household items you don't use. The list is endless.

The Bottom Line

There are many ways of saving in everyday life. The dollars and cents will all add up to your $100,000 goal. And though it may seem hard to credit at first, your quality of life will improve and not suffer.

by 趙永祥 2019-03-02 08:40:06, Reply(0), Views(300)


南無阿彌陀佛聖號(七音調-佛光山)


https://www.youtube.com/watch?v=x3eWWLbBDGY
by 趙永祥 2019-02-09 23:11:46, Reply(0), Views(523)



How Inflation Affects Your Savings

You must take a little risk to avoid losing a lot of money over time

The national average cost of a movie ticket in 2005 was $6.41. By 2018, it was $9.14. That's the work of inflation. The price of a movie ticket, a house, or a semester in college tends to rise over time, sometimes quickly and at other times slowly. That fact has great relevance to your personal savings plan.


How Inflation Shrinks Savings

Let’s say you have $100 in a savings account that pays a 1% interest rate. After a year, you will have $101 in your account. But if the rate of inflation is running at 2%, you would need $102 to have the same buying power that you started with.

You've gained a dollar but lost buying power. Any time your savings don’t grow at the same rate as inflation you will effectively lose money.

If you are a retiree living on your savings, you can’t keep up the same standard of living if inflation cuts into your purchasing power with every passing year. This is especially true in the U.S. where medical costs tend to rise at a greater rate than many other costs.

Inflation can hurt well before retirement. If you are steadily saving money with a goal in mind, such as a college fund for your children or a down payment on a home, the purchasing power of your money may decline while you're saving it. 


What’s Behind Inflation?

Inflation occurs as demand for goods and services grows. As the total money supply in an economy rises, there is likely to be more demand for goods and services from consumers. As more people buy more goods, sellers hike their prices.

Inflation is caused by other factors, many of them temporary and limited in their scope. A winter frost can damage the orange crop, causing a shortage of oranges and an increase in their cost that season. An automaker may be forced to pay more for parts and will pass that increase along to the consumer.


Measuring inflation

How do you measure the effect of inflation on your savings? The government measures it for you and publishes the results regularly. The Consumer Price Index(CPI) tracks the prices of a variety of consumer goods and services, including transportation, medical care, and housing. The index is published monthly.


Inflation in the U.S.

Believe it or not, inflation can be too low. In the wake of the 2008 financial crisisand the great recession, the central banks in the U.S., Japan, and Europe were worried that inflation could go below zero, meaning deflation, or falling prices. In fact, the U.S. did experience deflation in housing prices lasting several years in many markets.

During the worst of the crisis, the Federal Reserve targeted a 2% annual growth in inflation to return the economy to health. The bank initiated various stimulus measures that were intended to boost the economy and encourage job creation, therefore putting more money in consumers' hands.

Back in the late 1970s, the Fed was fighting double-digit rates of inflation and had to deploy monetary tightening measures to combat possible runaway inflation.

Economists will probably never stop debating whether the Fed's measures, in the 1970s or the 2000s, were the right ones.


How to Safeguard Your Income

If you are a retiree who gets a Social Security payment, you may see an increase in your monthly check from one year to the next, as the government adjusts the payments based on the cost of living as measured by the Consumer Price Index.

However, that increase requires approval by Congress. An increase of 2.8% was approved for 2019, and an increase of 2% for 2018. But the increase was .3% for 2017, and zero for 2016. Those numbers were based on the Consumer Price Index, but advocates for retirees argued that price categories which most affect the elderly, such as health costs, rose more rapidly than the overall index.


How to Safeguard Your Savings

The primary way to beat the effect of inflation is to invest your savings for a better return than you can get in money market accounts or savings accounts. Investing in virtually anything else inevitably involves greater risk than an FDIC-insured account. But you can choose investments that have a level of risk you can tolerate.

For example, retirees might want to consider Treasury Inflation-Protected Securities, or TIPS. These securities adjust the interest payouts you get based on changes in the CPI, and the principal payment you get back will also be adjusted for inflation. Even if prices go down over your investment period, you will at least get back your original principal.

Returns on stock investments generally tend to beat inflation. Investors who want to avoid the volatility associated with individual stocks might opt for mutual funds, which are professionally managed and aim to provide a good return over time.

A mutual fund that follows a passive indexing approach might be even better since it is not dependent on the stock-picking abilities of any particular fund manager. The stock market overall tends to go up over time. You will also pay less in fees with an indexing approach.

by 趙永祥 2019-01-18 22:08:42, Reply(0), Views(450)



How Much Cash Should I Keep in the Bank?


Everybody has an opinion on how much money you should tuck away in your bank account. The truth is, it depends on your financial situation. What you need to keep in the bank is the money for your regular bills, your discretionary spending and the portion of your savings that constitutes your emergency fund.

Everything starts with your budget. If you don’t budget correctly, you may not have anything to keep in your bank account. Don't have a budget? Now’s the time to build one. Here are some thoughts on how to do it.

The 50/30/20 Rule

First, let’s look at the ever-popular 50/30/20 rule. Instead of trying to follow a complicated, crazy-number-of-lines budget, you can think of your money as sitting in three buckets.

Costs that Don’t Change (Fixed): 50%

It would be nice if you didn’t have monthly bills, but the electricity bill cometh, just like the water, Internet, car, and mortgage (or rent) bills. Assuming you’ve evaluated how these costs fit into your budget and decided they are musts, there’s not much you can do other than pay them.

Fixed costs should eat up around 50% of your monthly budget.

Discretionary Money: 30%

This is the bucket where anything (within reason) goes. It’s your money to use on wants instead of needs.

Interestingly, most planners include food in this bucket because there’s so much choice in how you handle this expense: You could eat at a restaurant or eat at home; you could buy generic or name brand, or you could purchase a cheap can of soup or a bunch of organic ingredients and make your own.

This bucket also includes a movie, buying a new tablet or contributing to charity. You decide. The general rule is 30% of your income, but many financial gurus will argue that 30% is much too high.

Financial Goals: 20%

If you’re not aggressively saving for the future – maybe funding an IRA, a 529 plan if you have kids, and, of course, contributing to a 401(k) or another retirement plan, if possible – you’re setting yourself up for hard times ahead. This is where the final 20% of your monthly income should go.

If you don't have an emergency fund (see below), most of this 20% should go first to creating one.

Another Budget Strategy

Financial guru Dave Ramsey has a different take on how you should carve up your cash. His recommended allocations look something like this (expressed as a percentage of your take-home pay):

  • Charitable Giving: 10%-15%
  • Food: 5%-15%
  • Savings: 10%-15%
  • Clothing: 2%-7%
  • Housing: 25%-35%
  • Transportation: 10%-15%
  • Utilities: 5%-10%
  • Medical/Health: 5%-10% 

About That Emergency Fund

Beyond your monthly living expenses and discretionary money, the major portion of the cash reserves in your bank account should consist of your emergency fund. The money for that fund should come from the portion of your budget devoted to savings – whether it's from the 20% of 50/30/20 or from Ramsey's 10% to 15%.

How much do you need? Everybody has a different opinion. Most financial experts end up suggesting you need a cash stash equal to six months of expenses: If you need $5,000 to survive every month, save $30,000.

Personal finance guru Suze Orman advises an eight-month emergency fund because that’s about how long it takes the average person to find a job. Other experts say three months, while some say none at all if you have little debt, already have a lot of money saved in liquid investments, and have quality insurance. 

Should that fund really be in the bank? Some of those same experts will advise you to keep your five-figure emergency fund in an investment account with relatively safe allocations to earn more than the paltry interest you will receive in a savings account.

The main issue is that the money is instantly accessible if you need it. (On the other side, remember that money in a bank account is FDIC insured.) For more advice, read more about building an emergency fund.

If you don’t have an emergency fund, you should probably create one before putting your financial goals/savings money toward retirement or other goals. Aim for building the fund to three months of expenses, then splitting your savings between a savings account and investments until you have six to eight months worth tucked away.

After that, your savings should go into retirement and other goals – invested in something that earns more than a bank account.


by 趙永祥 2018-11-16 23:20:17, Reply(0), Views(303)



經濟日報社論

「勞退新制應給自主投資選擇權」

經濟日報社論/經濟日報/107.11.16

金管會主委顧立雄日前表示,將與集保旗下的「基富通」合推實驗性質的「預備性勞退自選平台」,盼以二到三年的時間,驗證一條「勞退自選」之路,讓參與實驗的勞工投資人,可依風險屬性選擇退休投資。

一般預期,在九合一大選過後,政府還將繼續推動勞保年改。軍公教年改殷鑑不遠,同樣有破產危機的勞保年金,在改革後,就算不需要「多繳」,也難逃「少領」,及日後一再改革的命運。當第一層的勞保退休金縮水了,第二層的勞退若能即時提高自提比例與報酬率,不僅有助勞工減輕勞保年改的痛苦,還能因報酬率提升,把被砍去的年金補回來。

現行勞退新制是在2005年7月上路,法令強制雇主每月至少提撥員工薪資6%到勞工個人專戶;勞工每月最高也可自提6%薪資到個人專戶。有紀律地定期定額提撥,待勞工退休條件成就了,就可向勞保局請領退休金。

不過,根據勞保局統計,目前勞退新制總提繳人數約有670萬人,儘管總提繳規模因人數眾多,已壯大到2.1兆,堪稱國內最大的職業退休金,但是勞工自提比例卻長期偏低,僅約46.3萬人,約占7%左右。

勞退的錢,不論是雇主提繳或是自提,存的都是年老後會用到的錢,況且就算勞保年改磨刀霍霍,但是改革不及於勞退,民眾不需擔心勞退也會被砍,這麼安全、實在的錢,何以勞工不願自提呢?從這幾年國內多家媒體調查可發現,勞工自提意願偏低的原因,包括:有些人認為政府統籌基金運用績效偏低,近五年平均收益率僅四趴多,有些人則是苦於低薪無力提撥,還有人是不知道勞退可以自提,自提還可享遞延課稅效果,更有人不滿政府動輒以勞動基金護盤等。

政府鼓勵勞退自提的好處,一來可降低勞保年改對勞工的衝擊,二來也可協助民眾建立「自己的退休金,自己存」的觀念,透過「藏富於民」,減輕日後可能的龐大財政支出。

針對自提意願偏低的勞工,政府可行的作法有二,一是仿效國外退休金制度,設計「自動加入」機制,除非勞工表明不加入,否則就應自動加入自提行列。第二是開放勞退自選平台,讓勞工可依照自己的風險承擔屬性及人生規劃,安排退休金投資。

目前社會上仍有不少人反對開放勞退自選,最主要的理由是,萬一勞工投資不慎,賠光退休金怎麼辦?針對這類型的擔憂,政府也可參考國外作法,根據國內勞工可能的風險屬性,設計不同的投資組合。即便是最不懂理財的人,也有「保守」的組合可選,抑或是仿新加坡作法,將自選投資範圍,侷限在「自提」部分,讓雇主提繳的部分,自然形成「保底」,又或者,勞工可以選擇不要變,繼續參加現行政府統籌投資又能兼顧保證收益的組合。

另一種常見的反對意見,則是質疑開放效益,他們最常舉的例子是,已開放投資自選的私校退撫儲金,只有兩成的人才會選穩健或積極型組合,八成的人還是選擇保守型投資。殊不知,開放投資自選的最大意義,是把勞工自主規劃退休人生的選擇權,交還給勞工,讓勞工每個月都能實踐「自己的退休金,自己存」。

眼下的台灣,正被工作人口減少,以及高齡化、少子化壓得喘不過氣來。勞保年改在即,政府不能只想砍年金,而不去想,怎麼從現有的勞退制度,透過鼓勵自提、開放投資自選平台,讓勞工可以存到更多的退休金。欣見金管會願意尋找一條適合台灣勞工的投資自選之路,也期盼政府盡快為蔡總統「心裡最軟的那一塊」,建設更為穩固的老後生活。

by 趙永祥 2018-11-04 21:45:27, Reply(2), Views(1018)

     我空、法空是無法相,空空是無非法相,都不可取著

「凡所有相,皆是虛妄」,這等於心經中的五蘊皆空,諸法 空相,但是他並沒譯成「凡所有相皆空」。因為我們日常生活中的空的觀念是一種斷滅相,是一種虛妄觀念。


「凡所有相,皆是虛妄」,不可取著是無法相,無非法相中的「無」字的註解在大乘佛法中各位常聽到我空、法空、空空這句話。

我空、法空就是無法相,空空就是無非法相,都不可取著。所以這段經文說明這種對金剛經能一念生起淨信的人,他們不但無我、人、眾生、壽者四相,而且對法相、非法相也不取、不著、不住。

by 趙永祥 2018-10-11 08:36:32, Reply(0), Views(298)


趙博士財經分析之161

全球出現 經濟成長強弱、貨幣政策鬆緊及金融市場榮枯三大「背離」現象


國際貨幣基金(IMF)將今、明兩年全球經濟成長率預估從3.9%下修到3.7%。預估有上就有下,表面上問題不大。當前全球經濟真正的嚴肅課題,在於美國與其他國家之間,已經出現經濟成長強弱、貨幣政策鬆緊及金融市場榮枯三大「背離(divergence)」現象,不但已衝擊全球金融市場,還會使貿易戰進一步升高,在政治面也將為反體制、極端化運動注入新動能。以下是筆者的觀察分析


一 經濟成長背離

2008年金融海嘯爆發之後,美國靠超寬鬆貨幣政策得以休養生息,日本依然奄奄一息,歐元區更因發生債務危機而尚存一息;從2007年底到2018年,美國國內生產毛額(GDP)估計共擴張17.1%,歐洲及日本僅擴張11.6及6.7%,只有新興市場因外資大舉流入而迅速復甦。但2017年起,歐、日經濟終於緩過了氣,加上美元貶值,新興市場受益,全球出現難得的「同步加速成長」;但好景不常,2018年起歐洲經濟復甦再度減弱,新興市場更因美國利率及美元匯率雙升而面臨金融危機,中國經濟成長減緩;只有美國靠著減稅政策及法規鬆綁,帶動消費及企業投資增加,經濟一枝獨秀。


美國經濟的確有夠熱。各機構普遍預測第3季美國經濟將成長4.1%,是主要經濟體中唯一遠超過趨勢水準的國家;失業率只剩3.7%,工資與通膨都有加速上升信號。反觀歐元區預估成長率為1.6%,日本為0.7%,中國為6.9%,都回到趨勢水準,且預料未來數月將進一步下降。新興經濟體成長勢頭也減弱,拖累全球成長率下降。


二 經濟成長背離,自然造成貨幣政策背離

目前歐、日等大部分先進國家貨幣政策仍然超鬆,只有美國既升息,又縮表,雙管齊緊。奇怪的是聯準會(Fed)的數據顯示,金融情勢卻比2015年12月首次升息之前還更寬鬆,原因可能是美股指數與美債殖利率雙升,投資報酬率升高,加上美元強勢,使之前外流的美元資金回流,加上減稅政策也促使企業將滯留在海外的資金匯回,形成美國政策緊縮,外國金融縮緊的罕見現象。


經濟與政策背離,也造成金融市場的走勢背離,且仍然是美國資產獨強。美股最近雖也回檔,標普500指數今年來仍上漲約7.5%,但歐、日股市卻都下跌。新興市場更是股、債、匯市三跌,並形成賣壓傳染,土耳其里拉,南美二索,亞洲雙印,加上南非及俄羅斯都災情慘重,中國股、匯也慘遭雙殺,MSCI新興股市指數更淪入空頭市場。


三大背離不僅環環相扣,還可能形成惡性循環。美國經濟獨強,貨幣政策獨緊,促使美元升值,川普更加不爽,貿易衝突益發激烈,於是美元又更強;新興市場為支撐匯率,也被迫提高利率,經濟與金融情勢更加困窘,最後終將反撲美國。


三 金融市場榮枯明顯「背離」

「背離」當然不可能長期持續,但要走向「靠攏(convergence)」顯然有兩種情況。

有利的方向是美國以外國家的經濟成長能夠急起直追,如此將有助於降低金融風險,緩和貿易緊張,貨幣政策正常化更容易進行,先進國家及新興市場都同蒙其利。然而正向「靠攏」非常困難,歐洲不大可能大幅擴張財政支出以振興經濟,新興市場沈重的負債短期內難以縮減,貿易戰更使國際間對抗易、合作難。

比較可能的情況,則是走向不利的發展,即美國經濟成長下降而使差距縮小。發生這種情況的可能性相當高,因為美國是在經濟穩定成長的階段又採取擴張性財政政策,加上關稅提高之前企業搶建庫存,經濟處於「高血糖(sugar high)」的興奮狀態,但這股靠「打雞血」產生的過熱效應將隨著時間而消退,全球經濟也將雪上加霜,貿易緊張益發升高,多國政局更趨民粹化,於是IMF調降全球成長預估也將成為常態。


面對此種情勢,在投資規劃上照理說應該採取「反背離」的原則布局,但時機並不成熟。由於短期間「背離」現象不可能消除,美國資產仍相對有利;但「背離」持續愈久,這種操作方式破功的機率愈高,於是就只剩下縮減風險性資產部位一條路可走。


Written by Dr. Chao Yuang Shiang (趙永祥 博士)

 Faculty, Dep. of Finance, Nan Hua university

 (南華大學財務金融學系暨財務管理研究所 專任助理教授)

 11- October- 2018 


by 趙永祥 2018-10-03 18:18:22, Reply(0), Views(334)


投資屬性分析

投資屬性線上測驗
https://www.ezmoney.com.tw/Question




星座理財
https://www.ezmoney.com.tw/news/info/35?tid=40&tmp=1
by 趙永祥 2018-09-16 22:11:51, Reply(1), Views(550)





What is an 'Investment Strategy'?


An investment strategy guides an investor's actions with respect to asset allocation
Strategies vary, but they are based on individual goals, risk tolerance and future needs for 
capital. 
 




BREAKING DOWN 'Investment Strategy'


Some investment strategies seek rapid growth where an investor focuses on capital appreciation, or they can follow a low-risk strategy where the focus is on wealth protection. 

Many investors buy low-cost, diversified index funds, use dollar-cost averaging and reinvest dividends. Dollar-cost averaging is an investment strategy where a fixed dollar amount of stocks or a particular investment are acquired on a regular schedule regardless of the cost or share price. 

The investor purchases more shares when prices are low and fewer shares when prices are high. 

Over time, some investments will do better than others, and the return averages out over time.

Some experience investors select individual stocks and build a portfolio based on individual firm analysis with predictions on share price movements.


Graham's Five Strategies


In 1949, Benjamin Graham identified five strategies for common stock investing in 

"The Intelligent Investor."

  1. General trading. The investor predicts and participates in the moves of the market similar to dollar-cost averaging.

  2. Selective trading. The investor picks stocks that they expect will do well in the market over the short term; a year, for example.

  3. Buying cheap and selling dear. The investor enters the market when prices low and sells stock when the prices are high.

  4. Long-pull selection. The investor selects stocks that they expect with grow quicker than other sticks over a period of years. 

  5. Bargain purchases. The investor selects stocks that are priced below their true value as measured by some techniques.

Graham emphasized that every investor must decide how they want to manage their portfolio. Experienced investors may prefer and be comfortable with a buy low and sell high strategy, 

whereas investors who have less time to research and follow the market might benefit more 

from investing in funds that track the market and adopt a long-term view.

There is no right way to manage a portfolio, but investors should behave rationally by using facts and data to back up decisions by attempting to reduce risk and maintain sufficient liquidity.  


The Role of Risk-taking in Investment Strategy


Risk is a huge component of an investment strategy. Some individuals have a high tolerance 

for risk while other investors are risk-averse. One overarching rule, however, is that investors 

should only risk what they can afford to lose. Another rule of thumb is the higher the risk, the 

higher the potential return, and some investments are riskier than others. 

There are investments that guarantee an investor will not lose money, but there will also be 

minimal opportunity to earn a return.

For example, U.S. Treasury bonds, bills, and bank certificates of deposit (CDs) are considered 

safe because they are backed by the credit of the United States. However, these investments 

provide a low return on investment. Once the cost of inflation and taxes have been included in 

the return on income equation, there may be little growth in the investment.

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