Mark Yu

speaker

47 appearances 1 recordings 1 series first heard Sep 2022 last heard Sep 2022

Mark Yu’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why the Upper Middle Class Is Feeling the Economic Squeeze · 1 Sep 2022 podcast

has also more than doubled.

I think it's primarily because of the rising value of the property itself at the price value I've bought it for.

So now there are some adjustments in the insurance and here and there, and as well as the maintenance expenses have increased.

Initially, I have enough cushion, like my safety cushion, my savings.

Usually, I save enough to cover daily expenses and any emergency that comes up.

But if anything that comes up unexpectedly in the near future, I might need to start also borrowing from my investment account.

So for savings, I typically try to save, you know, what I do is I set aside a certain amount and from that amount, I try to put most of it actually in stocks.

I try to be as aggressive as I can and whatever's left, then I put it on my savings.

So what happened recently is because of the rising expenses, I'm left with a little less cash that I would really like to desire.

As a result, I'm not able to even put money aside into my stock investments and instead divert money.

the leftovers to my savings account.

As I'm having a little less savings at this point in time, it definitely has affected me as an immigrant as well.

So as an immigrant and breadwinner of my family, I have responsibilities in taking care of them while they are there in the Philippines.

Since I've been here,

in Texas since 2014, since I got hired under a working visa.

Until present, I have been sending money to them at least twice a month, every 15 days, and during any emergency situation that comes up where they need additional money to cover their ongoing daily expenses.

My view right now is more conservative.

I see myself as what I'm trying to practice now is setting more money on savings compared to investing.

I want to be prepared in case any major expenses comes up.

I really don't like to rely on loans, but should it bring me there, I definitely take it.

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