Money!
I came across this research from Pew Center which showed that Asian households, had significant more wealth than other racial groups in America. While the article focuses on the external factors that contribute to the disparity in wealth it does not talk much about intrinsic factors at all. For example, many Asian families living in America live well within their means, many families do not have high debt and look to squeeze out maximum value out of their earnings. This post is a reflection on spending and financial thinking that probably is the single biggest factor in explaining this chart. When I first moved in to America, I realized the importance of Credit History. One needed to have “credit history” that shows the banks how good you are at returning money that you owe to qualify for things such as internet and phones. You are taught to get a credit card as soon as you come to the country so that you can build your record and establish yourself as a trustworthy person in the eyes...