Love Affairs in Melbourne-Chapter 53 - 51 Enough Retirement Funds (Celebrating 3rd Time Achieving Bestseller List No. 1)

Chapter 53: Chapter 51 Enough Retirement Funds (Celebrating 3rd Time Achieving Bestseller List No. 1)

Grandpa:

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Why did you start breaking the rules within just two days? We agreed that we would ask and answer one question per day.

Should I not answer the questions you ask outside the question-and-answer section?

But then again, your IQ seems to have dipped lately.

You mentioned the same question both in your question and in your answer.

How worried must you be that I won’t discuss things with you~

I promise, hereafter I will discuss everything, big or small, with you in thorough detail.

As long as you don’t mind being annoyed to death by me.

I’m even thinking about discussing with you a particularly serious matter: what we should have for dinner tonight.

Establishing your own research system, what a high-sounding concept; once again, it’s clear as mud to me.

I really have no clue about investment banking and financial data analysis.

In the future, I’ll steer my knowledge towards finance to try keeping pace with you.

When I first received your email, I thought if I have time, I might pursue a Master’s in Finance or something.

However, after looking into it, my current Master of Fashion seems to offer elective courses and practical experience in management and financing as well.

In the next two semesters, I’ll try to choose more courses that relate to the financial industry you’ll be entering.

Even though you say this stuff requires hands-on experience, I plan on learning just the "jargon" for now, leaving the rest to your real-world explanations.

That way, when I can’t do my homework or write my reports, I’ll just blame you for it.

I don’t know why but the thought of having you to ask when I don’t understand something in class makes me incredibly happy.

Oh yeah, I added you to the class group chat yesterday, though you probably haven’t gotten into the habit of using QQ yet.

After adding you, I "hit the road."

When you pop up in the group chat, you’re sure to receive a lineup of welcomes from your classmates.

Don’t you dare say that I’ve been hiding you~

Honesty is the best policy, you know!

I don’t want to be attacked by the group for the unfounded charge of hiding you~

Question =>

What do you usually do when you go back to China for the New Year? freewebnoveℓ.com

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Yan Yan’s parents coming to Melbourne to buy a house would certainly not choose to buy an apartment in the city center like Bao Bao.

For most Chinese immigrants, it’s the villas with sky, earth, and permanent property rights that they can’t get in China.

Beyond that, they also have to consider the school district.

Inside China, for many years now, there have been many agencies specializing in Australian real estate.

Yan Yan’s parents had already made inquiries about Melbourne’s housing market when Yan Yan came to Melbourne to study.

This time, they hope to see some houses in the Toorak, Hawthorn, and Malvern areas.

In the early years of Chinese immigration to Melbourne, many chose Box Hill as their first stop due to language barriers and such.

Box Hill is the largest Chinese community in Melbourne; the malls, hospitals, and restaurants in this area are mostly run by Chinese, staffed by Chinese employees, and are very convenient even for those who don’t speak any English at all.

But in recent years, many well-off Chinese families from Box Hill have begun to move away, and Europeans even more so.

The average income level of the residents of Box Hill has been declining year by year due to the departure of these people.

Simply put, Box Hill is a district that has completed development and is on a bit of a decline.

Neither from the perspective of school districts nor environment is Box Hill any longer the best choice for Chinese immigrants.

Toorak, Hawthorn, and Malvern are three of the most traditional and well-known wealthy districts in Melbourne.

Toorak is considered by most to be Melbourne’s number one affluent area.

Although Hawthorn isn’t as famous as Toorak, when Yan Yan first came to Melbourne, she lived in the home of a famous architect in Hawthorn.

Malvern boasts Melbourne’s number one ranked primary school.

Although South Yarra, where Yan Yan currently lives, is also a wealthy area of Melbourne, the main properties for sale here are high-end apartments.

From the perspective of school districts, it’s not a particularly good choice.

Since the "world-renowned" buying power of the Chinese, many Australian real estate companies have found domestic property agents in China.

Those selling properties are the best at marketing.

If you haven’t lived in Melbourne, it’s basically quite hard to know where the real good properties are, as real estate agents are very good at describing every place as if it were unmatched on earth.

Matching with the wealthy districts are, of course, the property prices of wealthy districts. In Toorak, even the average property price has already exceeded 3 million Australian Dollars, not to mention the larger and nicer villas in the area.

In recent years, most of the buyers of houses in Toorak and Hawthorn that sold for over 20 million Australian Dollars were new immigrants from mainland China.

The Yan couple had always been busy with the development of Yanlu Machinery, from a small factory to a large one, from an ordinary company to a modern one requiring high-tech talents. Over the past twenty or so years, they never stopped developing Yanlu Shoe Machine.

The Yan couple also didn’t have many hobbies, just enjoying the occasional trip when they had time off to also look at villas.

Cities like Shanghai, a first-tier city, or Sanya, a tourist city — they wanted to buy in both.

This hobby, for industrialists from Wenzhou, was a common one, not special at all.

During the years when the Wenzhou real estate speculation groups thrived, if you personally traveled and decided to buy a property only after seeing it, you were already considered quite average.

Many people would have traveling friends and relatives help them with the "purchasing" of properties.

When others went traveling and bought properties, these people would do as Qi Yi did when ordering coffee, asking for a "Make-it-two."

Too busy to even have time for traveling, they’d quickly let someone going on holidays to buy properties take care of getting "one of the same" for them.

The tone of voice when making such a request was no different from Qi Yi’s when he ordered the same coffee a few days earlier at an Italian dessert shop.

The Yan couple were not adept at investing. After buying a villa, they just let it sit.

Fortunately, villas are those kinds of assets that appreciate in value on their own, even if left unattended.

Simply buying property and waiting for it to appreciate in value is a money-making method that many genuinely wealthy Wenzhou people have long "despised" for being too sluggish.

The once prevalent Wenzhou property speculation groups are now a thing of the past.

What’s left now are only minor players.

After all, buying and selling property is actually still quite a hassle, especially after various restrictive purchasing policies come into play.

Engaging in finance to make money from money is the simplest and quickest money-making method.

But with high-profit industries come equally high risks.

Sometimes, being a bit "dumb" or "silly" and not following the trend into uncharted territory is the choice most likely to ensure "long-term security."

Yan Yan’s father once had a small dream.

In the nineties, when he was just starting his business, Yan Dabang felt that if he could one day earn a million, he could retire and live a worry-free life with his wife, traveling and enjoying leisure.

But as the times developed, a meager million, in places where property prices are high, might not even afford a "restroom."

So, after Yan Dabang earned his million, he was not able to retire early as he had hoped.

Yanlu Machinery has developed to the point today where Yan Dabang has enough "retirement funds."

Whether he retires or not no longer depends on the amount of "retirement funds," but rather on his only daughter’s plans for the future.