Why are Asian-Americans Wealthier? (company, tax, investing, employment)

[Hasdrubal]

because they hold ancient and secret learning methods.

[jlawrence01]

In 1990, I was walking around my neighborhood in St. Louis city and I saw that a small restaurant had opened. It was a Vietnamese noodle house, a cuisine that I really enjoyed when I visited Montreal. So I walked in. I had a couple of spring rolls and a huge bowl of Pho. When I was done, I received the check ... $4.50. The folks in the restauarant asked me what I thought. I told them that they should DOUBLE their prices as their food was so good.

The whole family worked the restaurant. When things slowed down, they were at a table studying. Imagine a grade school kid who comes to the restaurant from school, studies, buses the tables, and then cleans up.

The kids are now all medical professionals despite working six days a week in the restaurant AND going to school full time.

Most Asians do better because there are high expectations placed upon them in childhood. They are expected to do well in school, to study several hours a night, to be at the top of their class. They are not at home with every video game playing five hours a night.

In many other ethnic and racial communities, may children are DISCOURAGED from studying. Maybe the kid works after school instead of studying. Or if the kid succeeds, his peers treat him like an outcast.

[JL]

I can tell you how my parents made money besides working at regular jobs to support myself and sisters back in the day during the 80s-90s. They would provide $ in a pool along with other Asian families to help other Asian families(close relatives,friends) start a business. My parents would get interest back every month from the business owners. My parents would receive $200-300 bucks/month by doing this. The business owners had started a seafood grocery store, restaurant, washateria, etc.

I was part of the first generational wave of Vietnamese immigrants here. I can tell you that the 2nd and 3rd wave of Vietnamese immigrants have it much easier.

[subsound]

Originally Posted by jlawrence01

In many other ethnic and racial communities, may children are DISCOURAGED from studying. Maybe the kid works after school instead of studying. Or if the kid succeeds, his peers treat him like an outcast.

That is so true, and it's almost every group where learning and education is downplayed and scorned. When I was a junior in college I went back to help out at my old high school for remedial students (mostly math and science), I left pretty quickly. Every one I taught (every group was represented) told me learning was only for nerds, geeks, and least told me once to do it for them. I leveled with a number of kids that if they didn't graduate high school or try hard at something they would be trapped at the lowest rung of society, barely making ends meet at minimum wage, and trapped in poverty...not one even gave a crap. I left because the last thing I want to do is help some one who does not want to be helped, even if I know the value of it.

Asians get the positive stereotype of hard work, importance of education, and success...but really it can be for everyone if it was valued by their family and peers. I know in my own life my family were very supportive, while my peers were generally apathetic slackers. I am glad I followed my families example over my peers. I get to spy on them on Facebook, some changed but most others got stuck in their own bad thinking.

[jlawrence01]

Originally Posted by subsound

That is so true, and it's almost every group where learning and education is downplayed and scorned. When I was a junior in college I went back to help out at my old high school for remedial students (mostly math and science), I left pretty quickly. Every one I taught (every group was represented) told me learning was only for nerds, geeks, and least told me once to do it for them. I leveled with a number of kids that if they didn't graduate high school or try hard at something they would be trapped at the lowest rung of society, barely making ends meet at minimum wage, and trapped in poverty...not one even gave a crap. I left because the last thing I want to do is help some one who does not want to be helped, even if I know the value of it.

It is the crab syndrome. Buy a bucket of blue crabs. If one crab tries to climb out of the bucket, all the other crabs grab ahold of the escaping crab to pull it back.

Look at so many of the NCAA Division I athletes. Many of the students are identified as great athletes as early as 6th grade. Yet noone in the community makes any effort to work with the student-athlete to make sure that he meets the entrance requirements to play as a college athlete.

[zoomzoom3]

From my experiences, I tend to think that there are more wealthy Jews out there than wealthy Asians. Not by much though.

[JL]

Back in the early days my parents would hoard cash. Her friends were the same way. My mother's close friend once had 275k cash under her washer/dryer..

[Eduardo983]

Originally Posted by ndfmnlf

I check census stats periodicially PINC-11--Part 1, and the thing that always stands out is that Asian-Americans consistently have higher incomes than other ethnic groups - higher even than non-Hispanic whites. For an ethnic group that is fairly new to the US, that's quite an achievement. Is there something the Asians are doing right that the rest of us can learn from? Are they more entrepreneurial? Better educated? Both? My hunch is that they are more entrepreneurial. They like to take risks. Whenever I go to Chinatown here in Chicago, I'm struck by how many Chinese here could barely speak English, yet they own businesses that seem to print money left and right. I also know a couple who owns a small fast food Chinese restaurant in the suburbs. Their English isn't very good. Yet their son is now a junior in medical school.

The save a lot of money in rent and after a few years they invest their savings.

I have seen like 15 asians living in one apartment.

They don`t use credit cards...

We should be more like them. Cut expenses and invest in small businesses.

[Sinajana]

Originally Posted by Huckleberry3911948

work ethic strong family values. calculus instead of hip hop.
just guessing.

You are right on!

[Sinajana]

Originally Posted by Tret

Asians are smarter and more talented.

Asians are no smarter than any other race they just have more will to succeed than many other races!!!!!!!!!!!
I have always had a lot of respect for Asian culture.