Food can add up!

I met up with a couple people from back in college this past weekend and have had several conversations about work-life balance as well as quality of living in Asia. There are times when I do spend $29 HKD for dinner while other times $280 HKD for just lunch. How you choose to spend really depends on what you eat and where you eat. It can be dirt cheap to what I consider NYC like prices. A couple days ago, I was paying $30 HKD for an Asahi. Friday night, $175 HKD for a rum-n-coke and a gin-n-tonic on a rooftop bar. That's like NYC Prices!!!!

Now hear this! Minimum wage in HK is $3.6 USD. I was told median income in HK is $12,000/month. I'm not sure what to think of that but I do know that there's a huge income gap between the rich and the poor. I have had mixed reviews, some are happy to be back working in HK and rave about the 15% flat rate income tax. No sales tax and no capital gain tax. While others are struggling to gain a work-life balance. Typically, people start the day at 9-10am and they leave work at like 7-9pm. Those in investment banking work till 11pm and sometimes, they even pull all-niters. There are pros and cons..cheap food and more income to keep but owning a property is nearly impossible as they are extremely high-valued. 2% mortgage rate but NYC like property values. Qualification? entirely based on your salary!

Really interesting...I'm going through a bit of a culture shock. Majority of Hong Kong people don't save money...low income..but everyone has a maid. and it's like $5000HKD for maid that will cook and clean and babysit!