Creating an ideal life:

1. What are the financial goals of Gen Z?

Concerning(born 1997-2012) is the first step to an ideal life in which setting financial goals is the first step. This generation grew up in the digital age and has its own values and consumption habits, so their economic goals are also different from previous generations.

1.1 Short-term goals: emergency reserves, travel expenses, research expenses

Short-term goals are usually achievable within 1-3 years.The general emphasis on life experience makes the "travel fund" a popular choice. According to data from the Hong Kong Census Bureau, about 65% of Gen Z youth spend 10% to 20% of their income on travel savings. In addition, the "emergency reserve" is also an important goal, and it is recommended to set aside at least 3-6 months of living expenses to deal with emergencies. The learning fund reflects the importance of Gen Z to self-improvement, such as continuing education courses and obtaining professional certifications.

1.2 Medium-term goals: down payment on car purchases, marriages, and houses

Medium-term targets are typically set for 3 to 10 years. In Hong Kong, there are many things to buy a houseHowever, due to high housing prices, the "down payment" is the main challenge. According to Hong Kong's house price data in 2023, the average down payment is around HK$120 to HK$200. The cost of the wedding is also an important consideration, with the average expenditure being around HK$30 to HK$50. Hong Kong has a low demand for car purchases due to convenient public transportation, but some people still target cars.

1.3 Long-term goals: retirement plan, children's education fund

It can take more than 10 years to achieve long-term goals. althoughAlthough still young, retirement planning has become a concern for some people. While the Hong Kong Mandatory Provident Fund (MPF) provides basic protection, it is not sufficient to support an ideal retirement life, so additional savings or investments are essential. A child's education fund is a priority option for future parents, especially when it comes to international schools and studying abroad.

2. How do Gen Z set financial goals?

Setting financial goals requires a systematic approach.The following steps can help ensure the feasibility and effectiveness of your goals:

2.1 SMART Principles: Specific, Measurable, Achievable, Relevant, Time-bound

The SMART principle is the golden standard for setting goals. For example, instead of saying "I want to save money", it is recommended to set up a travel fund that saves HK$5,000 a month and saves HK$6 for one year. These goals include:

Gen Z

 

• Specificity: Clarification of amount and purpose
• Measurability: Monthly progress tracking
• Achievability: Adjusted based on revenue
• relevance: Aligns with personal values
• Time-limited: Completed within 1 year

2.2 Analyzing the Current Situation: Understanding Income, Expenses, Assets, and Liabilities

Before setting a goal,You need to have a comprehensive view of your financial situation. We recommend that you create a "personal financial statement" that lists the following:

 

item	Amount (HK$)
monthly income	20,000
Monthly Expenditures	15,000
Existing savings	50,000
Debt (e.g., student loans)	100,000

Through analytics, you can clearly see how much money you can allocate to your goals each month.

2.3 Budgeting: Allocating Funds and Managing Expenses

Budgeting is an important tool for achieving your goals.Generation ZYou can use the "50/30/20 rule".

 

• 50%用於必要開支（房租、飲食）
• 30%For non-essential consumption (entertainment, travel)
• 20%For Savings and Investments

If your goals are large (like buying a house), you can adjust the ratio, for example, by increasing your savings to 30%.

3. How Gen Z is Achieving Their Financial Goals

After setting goals,Generation ZTo achieve them, you need a specific course of action.

3.1 Savings: Regular savings, automatic transfer

Savings are the foundation for accumulating wealth propose.Generation ZSet up a dedicated savings account and set up an "auto-pay" feature that automatically transfers the amount you specify on payday. For instance:

 

• HK$5,000 will be automatically credited to the travel fund every month
• Automatically deposit HK$3,000 into your emergency reserve every month

This "pay yourself first" method effectively avoids unnecessary expenses.

3.2 Investment: Choose the investment target that suits you

Investing is essential because saving alone is difficult to combat inflation.Generation ZYou can choose according to your risk tolerance.

 

• Conservative type: High-rated bonds, money funds
• Stationary type: Index funds (TraHK, etc.), REITs
• aggressive: Individual stocks, virtual currencies (caution required)

The Hong Kong market offers a variety of options, allowing beginners to start with a monthly investment fund, lowering the barrier to entry.

3.3 Income Growth: Part-time Jobs, Project Undertakings, and Entrepreneurship

By increasing revenue, you can accelerate the achievement of your goals.Generation ZLeverage your digital skills to earn extra income by:

 

• Free case reception: Design, Writing, Programming (platforms like Upwork, Fiverr, etc.)
• Social Media:經營部落格、YouTube頻道賺取廣告費
• entrepreneurship: Small e-commerce, personal brand

According to the survey, about 40% of Hong Kong's Gen Z have part-time experience, and their income has increased by an average of HK$3,000 to HK$8,000 per month.

4. Challenges and Responses to Gen Z's Financial Goals

In pursuing financial goals,Generation ZYou may face challenges such as, and you need to prepare your strategy in advance.

4.1 Inflation: Investing in Inflation-Resilient Assets

Inflation undermines the purchasing power of savings. In recent years, Hong Kong's inflation rate has been around 2% to 3%, soGeneration ZInvest in inflation-resistant assets such as:

 

• real estate: house prices and rents usually rise with inflation
• stock: High-quality companies can pass on costs through price increases
• gold: Traditional hedging tools

In the long run, the return on investment must be higher than the inflation rate to achieve wealth growth.

4.2 Market Volatility: Long-Term Investment and Risk Diversification

Financial market volatility can impact investment outcomes.Generation ZYou should adopt a "long-term investment" strategy to avoid frequent trading due to short-term fluctuations. At the same time, it reduces risk through "diversification".

 

• Diversification of asset classes: Stocks, bonds, cash portfolios
• Regional dispersion: Hong Kong, USA, emerging markets
• Industry Fragmentation: Technology, Finance, Consumer Goods

For example, funds can be allocated as 60% stocks, 30% bonds, and 10% cash.

4.3 Unexpected Expenses: Setting Up an Emergency Reserve

Unexpected events (e.g., healthcare bills, job loss) can disrupt financial planning.Generation ZPriority should be given to setting up an emergency reserve fund equivalent to 3-6 months of living expenses and depositing it into a highly liquid account (such as a demand deposit). For instance:

 

• If your monthly spending is HK$15,000, you need to prepare between HK$45,000 and HK$90,000
• You can achieve it in installments, including HK$5,000 per month, saving HK$45,000 in 9 months

This funding provides a safety net against unexpected long-term investments and high-interest debts.

5. How Gen Z can be incentivized to achieve their financial goals

Staying motivated is key to long-term financial success.Generation ZHere's how to motivate yourself to keep moving forward towards your goals:

5.1 Visualize your goals: Create wishlists, financial statements

Being specific about your goals can help you increase your motivation. For instance:

 

• Wishlist: Paste photos of travel destinations and model rooms of your ideal home
• Financial Schedule: Updates your savings and investment amounts every month and uses graphs to show your growth

Studies show that people who visualize their goals achieve 42% more than others.

5.2 Share with friends: encourage each other and grow together

Generation ZBy valuing your connection with the community, you can form a "financial goals team" and share your progress and experiences regularly. For instance:

 

• Monthly gatherings to discuss investment strategies
• Sharing discount information (e.g., credit card rebates)
• Supervise each other on savings challenges

Peer support reduces loneliness and provides practical advice.

5.3 Treat Yourself Regularly: Celebrate Milestone Achievements

Once you reach milestones, you can stay motivated with the right rewards. For instance:

 

• Save your first HK$10 and enjoy a Michelin dinner
• When the annual return of the portfolio reaches the standard, arrange a short trip

Rewards should be tailored to the target value so that overdoing does not affect progress.

Multi-Family Office (MFO) vs. Si...

1. Advantages and disadvantages of multiple (MFO).

A multi-family office (MFO) refers to an institution that provides wealth management services to multiple high-net-worth individuals at the same time. This model is becoming increasingly popular in the Hong Kong market, especially for families with medium-sized assets looking to reduce costs.家族辦公室

1. Advantages: Cost-effective, shared resources, rich experience

The biggest advantage of MFO is its cost-effectiveness. Operational costs are shared as multiple families share resources such as professional teams, technology platforms, and investment opportunities. According to the Hong Kong Monetary Authority, families who choose MFO can save an average of 30%~50% on operating costs. Additionally, MFOs typically have extensive market experience and extensive professional networks, allowing them to offer clients diverse investment options, including private equity, hedge funds, and real estate investments.

Sharing resources is also a highlight of MFO. MFOs provide families with access to top-notch financial tools and professional services, such as tax planning, legal advice, and succession planning, but they can be expensive when setting up a family on their own.

2. Cons: Low customizability, risk of conflict of interest

However, MFO is usually not customized. With so many servants, it is difficult for MFOs to fully adapt their strategies to the unique needs of one family. For example, some families may want to focus on sustainable investing, but the MFO's standardized services may not fully meet this requirement.

Additionally, the risk of conflicts of interest is a potential concern. When MFOs serve multiple families simultaneously, they may prioritize customers with larger assets, resulting in the detriment of others' interests. Therefore, when choosing an MFO, carefully evaluate its terms and conditions and customer reviews.

2. Advantages and disadvantages of single (SFO).

A single family office (SFO) is a wealth management agency established for high-net-worth families and only works according to the needs of the family. This model is common in the market for families with assets exceeding $500 million.

1. Advantages: Fully customized, highly controlled, and confidential

The biggest advantage of SFO is its fully customized service. Families can design investment strategies based on their values and goals, such as focusing on investing in specific industries or regions. Additionally, SFOs offer advanced management, allowing families to participate directly in the decision-making process and ensuring that wealth management aligns with their vision.

Confidentiality is also an important feature of SFO. SFOs can maximize family privacy and avoid leakage of sensitive information with a single service target. This is especially important for ultra-high-net-worth individuals who value privacy.

2. Disadvantages: High cost, complex management, difficult to secure human resources

However, SFO operating costs are very high. According to a report by the Hong Kong Securities and Futures Commission, the average annual cost of setting up and maintaining an SFO ranges from approximately HK$5 million to HK$20 million, depending on the size of the team and the scope of services. Additionally, managing SFOs involves dealing with complex administrative and compliance issues, placing high demands on family management capabilities.

Another challenge is talent acquisition. SFOs need to build professional investment, legal and tax teams, and in a competitive market like Hong Kong, it is often difficult to attract and retain top talent.

III. Considerations When Choosing an MFO or SFO

When deciding between MFO and SFO, families should consider the following factors:

1. The size and complexity of family assets

The size of the asset is the primary consideration. In general, families with assets under $100 million may be suitable for MFOs, while families with assets over $500 million may consider SFOs. Additionally, if your family has multinational assets or complex business structures, SFO's customized services may be more suitable.

2. Family-specific needs and goals

Family values and long-term goals are also important. For example, if a family wants to combine wealth management with philanthropy, SFO can offer a more flexible solution.

3. Budget Constraints

Budget is a factor that cannot be ignored. The cost-effectiveness of MFOs is more attractive to families with limited budgets, while SFOs require families to have sufficient financial resources.

4. Requirements for the degree of customization

If your family has very high requirements for service customization, SFO is definitely a better choice. On the other hand, if families can accept standardized services, MFO will be more affordable.

5. Importance of Management

Control is also an important point. SFOs give families full control over the decision-making process, while MFOs can share resources and services with other family members.

4. How can I assess the quality and reliability of MFOs?

If a family decides to choose an MFO, the following points will help evaluate its quality and reliability:

1. Examine the history and experience of MFOs

Know when the MFO was founded, how many customers it has, and its reputation in the market. For example, some established MFOs in Hong Kong have over 20 years of operational experience, often guaranteed reliability.

2. Understand MFO Investment Strategies and Performance

MFOs should provide reports on their past investment performance and assess whether their strategies align with the family's risk appetite. For example, some MFOs focus on conservative investments, while others tend to favor riskier and higher-reward projects.

3. Evaluate the MFO's Service Scope and Expertise

Check if the MFO offers all the services your family needs, including tax planning, legal advice, and education planning. Also, check the professional and industry certifications of your team members.

4. Consult Other Customer Reviews

Talk to current or past MFO customers to understand the quality of service and customer satisfaction. This can be achieved through recommendations from industry networks and professional organizations.

5. Future development trends of MFO and SFO

With the changes in the market environment, the development trend of MFO and SFO has also shown new characteristics.

1. Professional and Sophisticated Services for MFOs

In the future, MFOs will further segment the market and provide more specialized services. For example, some MFOs may focus on investing in the technology sector or offer tailored solutions for families in specific regions.

2. Outsourcing trends and technology applications of SFO

On the other hand, SFOs are increasingly outsourcing non-core businesses such as IT systems and compliance management to reduce costs. At the same time, the application of artificial intelligence and big data technology will improve the operational efficiency of SFO.

This means that whether they choose an MFO or an SFO, families should make an informed decision based on their needs and resources. The diversification and specialization of the market provide a wealth of choices for wealthy families.

The Intrinsic Artifacts

The fun and challenge of DIY battery packs

The DIY 18650 battery pack is not only a practical skill but also a sense of accomplishment. With the widespread adoption of lithium battery technology, more and more people are looking to assemble their own battery packs, whether it's for power tools, power banks, or solar energy storage systems, even if 18650 batteries are their first choice. However, welding links during the assembly process often pose a barrier for beginners. Traditional welding methods are easy to damage the battery, but professional welding methods are usedIt can greatly improve the success rate. In this article, we will provide you with detailed tips and precautions for spot welding machines to complete battery pack production safely and efficiently.

Get ready

Before welding begins, thorough preparation is key to ensuring success. First of all, it is recommended to choose a high-quality 18650 battery and give preference to models with protective plates to avoid overcharging or over-discharging. Second, checkThese include the cleanliness of the electrodes, the stability of the power supply, and the degree of wear of the solder pins. Auxiliary tools such as nickel sheets, insulating washers, and fixtures should also be prepared in advance, and the recommended thickness is between 0.1mm and 0.2mm to ensure conductivity and weld strength. Safety protection should not be neglected, and goggles and high-temperature gloves can effectively reduce risks.

18650 battery compatible

When choosing a battery, make sure its voltage and capacity meet your needs. The common 18650 batteries in the Hong Kong market range from 2000mAh to 3500mAh, and it is recommended to use the same batch of batteries to ensure consistency. If there is dirt on the positive and negative electrodes of the battery, gently wipe it with an alcohol cotton pad.

Inspecting and Configuring Spot Welding Machines

After turning on the spot welding machine, first test whether the no-load voltage is stable. Adjust the welding current and time according to the thickness of the nickel sheet, but the initial setting is usually as follows:

 

 

• Current: 300A-500A
• Time: 3ms-5ms

If the welding needle oxidizes, it can be lightly sandbed with fine sandpaper to restore its conductivity.

Detailed Spot Welding Procedure

The welding process requires meticulous and precise use, and the specific steps are as follows:

Cutting and placing nickel sheets

Cut the nickel sheet according to the battery pack arrangement, ensuring it is long enough to connect adjacent cells. When placing the nickel sheet, make sure it completely covers the positive and negative electrodes of the battery and secure it with clamps to prevent it from shifting.

Selecting the location of the solder joint

It is recommended to solder 2-3 solder points per cell and distribute them evenly to distribute the current. Avoid placing the solder joint too close to the end of the battery to avoid damaging the housing.

Welding parameter setting

First time usingIt is recommended to start testing with low parameters and gradually adjust to the best results. Here is a reference table:

 

Nickel Plate Thickness	Current (A)	Time (ms)
0.1mm	300-350	3-4
0.15mm	350-450	4-5

Spot welding as a demonstration

Press the solder pin vertically against the nickel sheet and touch the start switch. If you hear a clear "pop" sound, it indicates that the welding is complete. If the sound is dull, the parameters may be insufficient or the welding pins may not be pressed.バッテリー製造機

Weld Quality Inspection

Once done, use tweezers to gently pull on the nickel sheet and test its hardness. The solder joint should have a uniform, circular indentation with no burn marks around it.

Common problems and solutions

Even experienced DIY enthusiasts may encounter issues such as:

The solder joint is not strong

The reason may be a lack of current or too short a soldering time. It is recommended to gradually increase the parameters so that each adjustment does not exceed 10%.18650リチウム電池用スポット溶接機

The battery overheats

Continuous welding can increase the battery temperature. Pause soldering for 3 seconds every 4-10 points to dissipate the battery.

welding short circuit

Accidentally touching the positive and negative poles of the battery can cause a short circuit. When doing this, make sure that the nickel sheet only touches a single electrode.

Welding needle bonding

When gluing the welding needle to the nickel sheet, do not pull it forcibly. After turning off the power, you can tap the solder pins or treat them with a specialized cleaner.

Improved spot welding skills

After mastering the basic work, you can further optimize the welding effect.

Uniform welding skills

Keep the pressure of the solder needle constant and avoid tilting. It is recommended that the soldering sequence be stretched outward from the center of the battery pack to reduce cumulative errors.

Simple welding tips

Pre-positioning the nickel sheet and securing it using magnetic clamps can significantly improve efficiency.

Aesthetic skills of solder joints

To make the shape of the solder joint more regular, choose a solder pin with a circular concave surface. After welding, wipe the surface with a soft cloth to remove any oxides.

Safety Precautions

useSafety is always a top priority.

Dangers of Battery Short Circuit

A short circuit in a lithium battery can cause a fire. The work surface should be kept dry and away from flammable materials.

Risk of burns

The instantaneous temperature of welding can reach hundreds of degrees, so be sure to wear protective gloves when working.

Welding Fume Hazards

Nickel fumes emit trace amounts of metal fumes when heated, so it is recommended to do so in a well-ventilated environment or under a mask.

Safety first, enjoy the fun of DIY

Through the introduction of this article, I believe you are rightI have a comprehensive understanding of the job. From preparation to advanced skills, every step is about success or failure, and safety. In recent years, DIY battery packs have become increasingly popular in Hong Kong, but related accidents have also been heard from time to time. Only by strictly adhering to safety standards can you truly enjoy the fun of DIY. Try it now and create your own high-efficiency battery pack!