My family’s story in Chinese stock market.

Following our blog friend’s post on Shanghai volume , I want to share with you my family’s stories in China’s stock market. My mom has been in the market since I was in the secondary school. She lost half of her capital after more than 10 year’s investment. Up to two years ago, she was still struggling. However, since this year, every night when I talk to my mom, she will tell me how much more she could have earned if she had hold the stock longer, or had bought more. She put all our family savings into it now.

And one of our relatives, an 80 year old lady, frugal for her whole life, put all her money in the stock market too. She does not know how to use computer or internet. So she keeps calling my mom to help her excute the trade.

Yes, it is this scary! And I just can not persuade my mom to take the money out of the market. No way she will believe me when she sees the stock price going up so fast every day. Sometimes, I want to make up some emergency stories to ask her for moeny, because that’s maybe the only way to ask her to get some of her money out of that market. But I will feel guilty if I lie. Very difficult situation 😦

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Salary survey for H1B — Are you getting there?

Yannick and I are struggling with Green Card application. We (mainly Yannick) were (was) so lazy and did not bother to work on our immigration stuff and now we had to pay a little cost — Yannick may now have to decline a job offer because of the H1-B. The H1B quota was used up on the very first day!

I am worried, but can’t really push him too much on things he does not like to do. Besides, he has picked up things that I do not like to do — tax, asset allocation… So, it is my turn now.

I can apply for green card through PERM with my company’s sponsorship now. For perm, salary is a key factor–you have to have a salary higher than the average salary in your area to get your visa. So, I found this H1B salary survey.


Surprisingly, Washington has the highest median annual salary of $76K. The average annual salary is usually close to the median value. New York has a very high average of $74k compared to a median value of 55k. I suppose that’s because many were
earning well above 100k. In any case, the good message is that my salary is higher than the median or average in my state. At least, I have met one important condition in getting PERM approved.

The data is a little old, but it tells more than just H1B salary. The most interesting thing to PF bloggers is average household income and house value. California has the highest average house value, but its average household income is actually lower than NJ and CT, or even Maryland!

The average household income in CA is 30% higher than that in Texas, the rent is 40% higher that that in Texas, but the average house value in California is 157% higher than that in Texas! MA is comparable to CA in this respect. So, if someday Yannick and I have to work in CA or MA, I will have a rational plan in head– rent, rent, rent, till we retire in TX and Florida!

BTW, I found it interesting that the average H1B’s salary in New York state is $74K, higher than the average household income ($69K). NYC is really single man’s paradise.