To Reach the Level of Richness - The UOS Times
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To Reach the Level of Richness
Song Jin-young Reporter  |  sjy285@uos.ac.kr
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[0호] 승인 2010.03.08  
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Since we live in the capitalism society, we can’t get away from it. Sometimes it makes us all feel abundance. On the other hand, it makes us feel indigent all of a sudden. It receives love and hate at the same time. But everyone needs it so eagerly. Can you guess what it is? The answer is ‘the money.’ Because we can’t live without it, we should study money and prepare for the future. All of us know how important it is, but less people know how to save and make it for their future. For that reason, we will talk about some investment techniques in this article.

The Jews are world famous for their sense of economy. “Wall Street is dominated by Jewish people,” is not an exaggeration. Alan Greenspan (former chairperson of FRB), Sanford I. Weill (former chairperson of City Group), Henry Paulson (former chairperson of Goldmansachs), George Soros (known as the best fund manager in the 20th century) are all Jews. We can understand the reason how they could constitute such high percent of the world economy from the way of their ceremony to celebrate their coming-age. When one of their family members reaches the age 13, all families come together and give him or her a large sum of money to teach them about investment techniques. Of course they should study it for themselves. After some years, they can make 10 to 20times more money. In this way, how can’t they become a money specialist?

It’s too early to get discouraged about the fact that you haven’t made a large amount of money, or complain your parents’ method of dealing money. Start right now with us to be rich in the future. To be rich is the dream of all the citizens, but it is not easy at all. Therefore, it is important not to make haste to earn lots of money but take it step by step to reach the level of richness you desire. You can start your investment with just a little pocket money. If you have lots of money, what do you think about starting your investment with real estate or in stocks? They are highly risky means to make money, but in the contrast, they guarantees you to earn big amount of money in a short time. In this article I won’t talk about it anymore, instead I want to address how we can make capital to start investments.

The basic concept of an investment is same as making a snowball. If you want to make a big one, you should find or make a pivot. In this economy, you can get pivot by saving a certain part of your income. To make a pivot, I suggest you to keep household accounts and create a budget. You can use either a traditional paper book or a trendy electronic program. Whatever you choose, it will help you to save money towards your investment. When you get enough money, start your investment by opening a housing deposit account. Whether you want to be allotted an apartment or make a large sum of money someday, it will be helpful.

If you think getting a house is your priority, you should open the account as quickly as you can. After 6 to 24 months (the length of month is depends on the area), you will be prioritized to be allotted an apartment. If you want to be allotted public housing, a supplier considers the period that you joined as most important factor. On the other hand, the privately-built apartment’s supplier regards the amount of money that you have in your account as more important matter. For that reason, you would be better to open the account quickly. If you are not interested in being allotted an apartment, the housing subscription deposit account is still good option because it guarantees you higher interest rates compared to other common deposits.

After that, I suggest you to consider fund which is another method of investment. Of course it also has a risk, but as you are not a professional investor, it is more stable investment. This is because the financial institutions can invest and diversify with raised capital. These types of funds are stock funds, compounded funds, stock compounded funds, bond compound funds, foreign mutual funds, and so on. As I mentioned, there are many different types of funds in the market. Thus I can not tell you which one is better. Therefore you should research about these different funds to choose a suitable one for you. It can be hard work, but the reason for this research is to make a capital or to learn how to increase your fortune someday.

The attached table shows you different types of investments. When you decide to start financial management, make a portfolio (For example, I would like to travel abroad in 3 years, so I need a certain amount of money) and refer the following table. Happy investing!!
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