By Jingyu Zahng
Northwest Asian Weekly
With the economic development in China, the accumulation of people’s wealth is growing.
However, personal financial education is relatively absent and weak, and there are a lot of the population facing practical financial problems, such as supporting their children’s education and parents’ living. Kathy Niu, the founder of Golden Sun Financial Education, through her many years of study and practice, proposes many new methods and theory about financial education. She wants to share her financial theory with more families and a wider audience in the society.
In the past seven years, she has won the 2012 Chinese top ten annual innovation of the year award, 2012 Best Innovation Award, 2013 Brand of Women Innovation Award and the Chinese Education Innovation Women award”
When she came to study in the United States in 1979, she majored in business at the University of Washington.
Her thesis was based on a book that describes how an employee manages to become a millionaire with only a monthly income of only $2,000. At that time, such level of wealth was much more difficult to achieve. She volunteered at a bank in US and then ended up working at the bank before graduation.
Three years later, her personal assets increased to over one million from $5,000 dollars.
She believes half of family income should be investment and financial research.
In 2005, Niu returned to China and began to promote financial education. She felt housewives were a group of people who especially lack any kind of financial knowledge. She believes that the smallest unit of society is the family and women play an important role in managing their families’ financial issues. Every person has an obligation to enhance their ability to help more people who need help. In tragic events like the earthquake in SiChuan province, the first thought from everyone should be that our compatriots are suffering such a tragedy and that we should immediately take actions to help them. People who live nearby the center of the event should support people working on the front-line. We can lead the whole nations’ resources and human-power to support the people who need help as soon as possible.
It’s difficult to make any direct contribution to the society if you only live on your monthly salary. However, as long as there is enough income, you still manage to fulfill the your obligation by paying taxes for national construction. If there are more caring person who can donate, the nation would not need to take out a lot of fund from people’s retirement, education and health care. If everyone has an ability to self-sustain, it will be much easier for the government to do more good for the people who are in more desperate need of help.
Kathy Niu decided to stay in China. She believes that helping 100 families to become millionaires is much more meaningful than helping one business owner to become a billionaire. With that idea in mind, she established the Golden Sun Company. The company currently has more than 3,000 franchise stores in over 100 cities in China.
** update on June 12, 2020. Niu is being sued for running a Ponzi scheme. Niu’s attorney said the suit is without merit. **
Jingyu Zahng can be reached at email@example.com.