Most of these families only have a single financial channel and hearsay. Retail investors have a strong speculative psychology and always want to get rich overnight, which intensifies the irrationality of the market, and their hard work for several years is in vain.
The overwhelming financial concepts and education in the market are also dazzling. Everyone is talking about financial management, but most of them belong to the category of "technology". How to choose bank wealth management products, how to choose funds, and what investment opportunities there are in the stock market all seem reasonable, but after listening to them, they are still at a loss. Investment and wealth management need to be step by step and comprehensively considered before they can be called asset allocation.
First of all, it needs to be clear that the economic goal of a country is GDP, and the goal of personal financial management is annualized rate of return. No matter which financial management method you choose, this fundamental goal will not change.
Then, there is the question of planning. Life needs planning, and investment and financial management need planning. At different stages of life, it is necessary to plan different investment methods and different investment products. I don't need to go into details here, just a picture.
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Then, know your risk preference. When promoting all investment and wealth management products, we will say such a sentence: investment is risky, so choose carefully. This sentence is so important because risks are inevitable, and investment products have ups and downs.
In the face of future uncertainty, everyone's subjective satisfaction is different, and there is no objective standard. It is called "utility" in economics. Doing one thing and getting a result will bring different satisfaction to everyone.
How to judge whether you are conservative, steady, balanced or radical? Are your financial planning actions combined with your own risk appetite? Here are a few simple financial planning calculations that can help you understand your risk tolerance and investment style.
1 objective risk tolerance calculation
Age score
Under the age of 25, add 50 points; Increase 1 year and get 1 minute; Those over 75 years old, 0 points.
For example, if you are 35 years old, your age score is: 50-(35-25)=40.
Objective project score
The following table lists the scores of different projects in different situations. Find your corresponding situation and add it up to get your objective project score.
For example, if you are a public official+unmarried+invested in real estate+10 years or more+have a professional license, then your score is:10+10+/kloc-0+00+10.
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Find your objective risk tolerance.
Add up the scores of the above two steps, and you can find the final score according to the table below.
For example, if you are a 35-year-old unmarried public official who has invested in real estate for more than 65,438+00 years and has a professional license, then your score is 40+50=90. According to the table below, you are a person with high risk tolerance.
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2 subjective risk tolerance attitude calculation
Tolerance of principal loss
Percentage of allowable loss (based on a year's time). The total score is 50 points. If you can't tolerate any loss, it's zero. If you increase 1 percentage point, you will increase by 2 points. If you can tolerate a loss of more than 25%, it will be 50 points.
For example, the percentage that you can bear the principal loss is 23%, and your score is 23*2=46.
Subjective investment mentality score
The following table lists the scores of different situations under different investment mentality. Find your corresponding situation, add it up and get your subjective investment mentality score.
For example, if you earn short-term price difference+only earn no loss+study experience+futures+nothing, your score is:10+10+10 =
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Find your own subjective risk attitude
Add up the scores of the above two steps, and you can find the final score according to the table below.
For example, the percentage that you can bear the loss of principal is 23, and the score of main investment mentality is 50, so the corresponding objective risk tolerance is "high risk tolerance attitude".
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3 Find the right portfolio for you.
According to your objective risk tolerance and subjective risk tolerance attitude, you can find a suitable portfolio according to the following table.
For example, if you have "high risk tolerance" and "high risk tolerance attitude", the investment portfolio suitable for you is: 10% bonds +90% stocks, and the expected rate of return is 9.5%.
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4 all kinds of asset allocation
After understanding the family's financial life cycle and their own risk preferences, the next step is to decide how to allocate assets. There are two schools of asset allocation: mathematical statistics school and best practice school.
Mathematical statistics school
The school of mathematical statistics refers to refining most general asset allocation models by analyzing the asset allocation schemes of most high-net-worth customers. Standard & Poor's household assets quadrant is a typical example. Standard & Poor's surveyed100000 families with stable asset growth in the world, analyzed and summarized their financial management methods, and obtained the standard & poor's family asset quadrant, which is recognized as the most reasonable and stable family asset allocation method.
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Best practice school
The best way for the school is to track all kinds of asset allocation schemes, take historical performance as the evaluation standard, and choose the best as the recommended allocation scheme.
A typical example is the Yale University Endowment Fund. Under the leadership of David Svencen, the Yale Endowment Fund abandoned the traditional investment tools and adopted a proactive management style. Over the past 30 years, its asset management scale has increased by 10 times. Among the eight categories of assets allocated by Yale Fund, alternative assets account for 30%. This part of the assets has brought obvious excess returns to the donation of Yale University, and the Yale Fund has continued to add such assets.
In the final analysis, the key to financial management is to establish correct values, maintain a good attitude, and then mobilize all resources to realize the appreciation of wealth. As for ways and means, everyone will be different. Some people entered the currency circle in the early days of bitcoin mining, some found a good private fund manager, and some found a good trend through macroeconomic analysis, but they all have one thing in common-focus. Do things to the extreme, break through the cognitive limit, do a good job in asset allocation, and work hard, and there will be corresponding gains.