A new online survey of 2,000 self-identified Asian/Americans found retirement and family are particularly important in the AAPI community.
The survey conducted by Harris Poll for Prudential Financial from June 19 through July 21 found 25 percent believe taking care of family members is a financial priority versus 15 percent of the general population. 33 percent serve as caretakers for another family member or special needs child versus 21 percent of the general population surveyed. 20 percent provide financial assistance to their relatives versus 6% of the general population.
“America is more diverse than ever, which means we need to understand the unique financial situations faced by such communities as Asian/Americans,” said Sri Reddy, senior vice president and head of Full Service Investments at Prudential Retirement. “Taking the time to partner with and learn about what they value and need is imperative for us to ensure that everyone has an opportunity to achieve their financial goals.”
The age Asian/Americans expect to retire is 64.6, 15 months earlier than the general population. In fact, retirement is the top financial priority among the Asian/Americans surveyed.
Asian/Americans are a diverse community and within the Asian American community are many differences, the survey found.
Chinese/Americans are older, less likely to have children and less likely to have larger households. They are self-described savers, have a higher educational level and more professional careers.
India/Americans are more likely to be born outside the United States and more likely to be married. As with Chinese/Americans, they are self-described savers, have a higher educational level and more professional careers.
Vietnamese/Americans are less likely to have children and more likely to have smaller households. They are in line with most Asian/American when it comes to their finances.
Filipino/Americans tend to come from larger households which are more likely to include extended family members. They are more religious and also more likely to have a higher volume of debt.
Korean/Americans are younger, more likely to be receiving support from family in retirement and less likely to be a caregiver for others.
Japanese/Americans are older and more likely to be born in the U.S. They are less likely to be caregivers or attend religious services.
SOME OF the Golden State Warriors' most devout fans are Asian/Americans. As the NBA championship finals continue between the Warriors and Cleveland Cavaliers, the fanaticism is hitting a new high. The National Basketball Association and the Warriors' organization has noted the makeup of their fan base and have taken deliberative steps to reach out to Asian/Americans and fans in Asia to encourage their loyalty.
Among the fans is Alvan Mangalindan, a resident of Hercules, a few miles up I-80 from Oracle Arena where the Warriors play. He was featured in a recent feature by KGO-TV because Mangalindan has the ultimate Golden State Warriors "fan cave." And that makes his house the obvious choice for an NBA Finals viewing party, whether he and his wife like it or not.
Alvan has been collecting Dubs paraphernalia since he was 12 years old. He has everything Warriors from the early days to the modern days. And much of it is signed. His pool table, his foosball table, his window blinds, and even the Barbie doll are all emblazoned with the Warriors logo.
The Warriors have made a strong effort to woo the large Asian/American community in the San Francisco Bay Area by having several nights devoted to them: Asian/American Heritage Night, Filipino Heritage Night, Pacific Islander Night and Chinese/American Heritage Night. Apparently, the marketing strategy is working.
To get a sense of how rabid the Warriors' the Asian/American fan base is take a look at the Warriors' Fan of the Day on KGO-TV's website to see plenty more Asian/American Warrior fans! And to get a closer look at Mangalindan's fan cave, view video below:
The Warriors recognize the diversity of their fan base.
As the Golden State Warriors pursue their fourth NBA championship in five years, when they play their home games during the 2019 NBA playoffs, take a close look at the gold-clad fans in Oracle Arena, home of the Oakland team. No single race dominates but there are lots of Asians: Chinese, Filipinos, Japanese, Koreans, Vietnamese, Asian Indians, Pakistanis, Burmese and more. The Warriors don't keep the demographics of it's fans but its hard not to notice that half the fans at Oracle are not white. According to the Census about 2 million Asians call the Bay Area home - perhaps the largest concentration of Asians outside of Asia, Hawaii included. Don't think that the Warriors' management hasn't noticed the composition of their fan base.
The organization started having Asian Heritage Night when Jeremy Lin was a rookie in 2010. When Lin left after one season, the Warriors continued the night and added Bollywood Night, Asian American Heritage Night, Polynesian Heritage Night and Filipino Heritage Night. They honored Chinese New Year with a special shirt featuring the name of the Warriors in Chinese characters. Some may quibble with the design but it was historic that the team even bothered to have the shirt making them only one of two NBA teams to note the date, important in Asian cultures. (The other team was the Houston Rockets, which was the first team to mine the Asian fan base because of the popularity of center Yao Min, who is still revered as a superstar in China.)
The Golden State Warriors are also looking to the future -- at the largest market in the world, China. The team recently surpassed one million followers on Weibo. Weibo is a Chinese social media platform that combines the services of Facebook and Twitter, and is one of China’s most popular websites. Last October, the Warriors became the first NBA team to launch an official Weibo account so they will be well set when the NBA Global Games are held in Beijing and Shanghai.
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Golden State Warriors
Jennifer Cabalquinto
It doesn't hurt to have Asians in highly visible positions. A Filipina/American, Jennifer Cabalquinto, is the team's Chief Financial Officer, perhaps the highest ranking woman in the NBA outside of owners. She has over 20 years of finance leadership experience in a variety of start-up, turnaround, and high growth business environments including Telemundo, TV stations and cruise lines. “Do you know we have more Facebook followers from the Philippines than we do in the United States?” said CFO Cabalquinto. “It’s amazing. Of the top ten cities where our Facebook followers are based, eight of the top ten cities are in the Philippines. It’s just phenomenal.”
Every sports team has a hype guy to get the fans excited. For the past 11 years, for the Warriors, that's Franco Finn, aka "Freestyle Franco."
Being the hype man for this place is really a dream come true,” Franco told a reporter from Balitang America. “It’s just amazing. I’m a Golden State Warriors fan ever since I could remember and now I get to say I pass by this building and say 'Wow, do I really get almost 20,000 fans here hyped up on their feet?' It’s an amazing experience.” Franco starts by introducing the players as they come on the floor then leading the chants on the loudspeaker. "Dee-fense! Dee-fense! Dee-fense," or when star Stephen Currie is on the free-throw line, the chant changes to "MVP, MVP, MVP, ... or the iconic cheer that strikes fear in opponents, " War-riors! War-riors!" That's Franco at work.
As he says in the video, from his observation, every game should be Filipino Heritage Night because Filipinos are such devoted and knowledgeable fans. You can be sure if he sees any of his kababayan (fellow countrymen) in the seats, he'll make an effort to interact with them.
The team strengthened that tie-in with Filipino/Americans when the Warriors raised funds for victims of Typhoon Haiyan that ravaged the Philippines two years ago.
Sabrina Ellison
‘It’s super important that the Warriors are embracing the Filipino culture,” says Warriors Girls Director Sabrina Ellison, a Filipina/American. When the dance team comes out on the floor. Freestyle Franco goes into action, exhorting the crowd to cheer for the dancers. Among the dancers are several Asian/American Warriors Girls – Patrisha, Danielle and Clarise.
And then there is Superfan Burmese/American Paul Wong, one of the Warriors' many loyal Asian season ticket holders. The Warriors' fans are noted through the league but Wong stood out among the fan base.
Wong etched his way into Warrior lore in 2007 when the team was making it's first playoff appearance in decades, he came up with a two-word slogan that hiked fan frenzy even higher. He printed up hundreds of "We Believe" posters with his own money and handed them out during the opening series against the Dallas Mavericks. Management took notice and the next game, printed up 20,000 yellow t-shirts emblazoned with the rallying cry. "The team represents what the Bay Area is all about: diversity," Wong told a Mercury News reporter. "That's what makes them so popular."
San Francisco is one of the most popular destinations for tourists from Asia and for Asian investors seeking to invest in the safe and stable U.S. real estate market. Add to that, the fact that immigration from Asia has surpassed Mexico; the future remains bright for the Warriors' investment in the Asian and Asian/American markets.
