Han Dong-cheol’s “Why? Does Money Pass Women By?”

Most countries, excluding some socialist ones, have adopted “capitalism.” While money is not the measure of happiness, accumulating a certain amount of wealth can bring one closer to “happiness.” Especially in societies named after capitalism, such as capitalist societies, “capital” is highly valued.

However, looking around, wealth tends to be concentrated among specific individuals. Moreover, in general, especially among the younger generation in their 20s and 30s, it is very difficult to see cases where women have accumulated a lot of money.

“Why? Does Money Pass Women By?”

This book criticizes why women fail to accumulate money and introduces ways to do so.

It is said that the reason why women accumulate less money compared to men is that they are obsessed with appearance and vanity, neglecting practical wealth.

The book not only ends with criticism but also discusses in detail how to accumulate wealth. It introduces various methods, such as how to make initial capital and what methods can be tried while still a student.

“Reduce unproductive time, strive to the point of death in the field of interest, until it leads to profit…”

The key point introduced in the book is to reduce unproductive time and strive to the point of death in the field of interest. That is until it leads to profit.

To achieve this, the author advises reducing time spent on activities like watching TV and constantly coming up with creative ideas for businesses that can earn money. Moreover, once a certain amount of money is accumulated, continuous study of investment methods is also recommended.

The author advises to first maximize income sources based on “labor.” It is recommended to create more than five sources of income. This is based on a household of two people, not a single person.

If one person does two or more jobs and two people work together on one job, then there will be a total of five sources of income. The book even introduces somewhat extreme methods. After marriage, buy a house, give it to in-laws, and live with them while giving them rent, and work part-time at places like PC rooms even after leaving work from the company.

The author talks about accumulating hard-earned money through labor and then using it for investment.

“72 Rule: Time it takes for the principal to double”

The book also introduces the 72 rule. This formula states that when you divide 72 by the interest rate, you get the time it takes for the principal to double. To find out when 100 won principal becomes 200 won, you can calculate “72/interest rate = period.” If the interest rate is 8%, then “72/8 = 9,” so it takes 9 years for the principal to double.

“Dollar Cost Averaging: Systematic Investment”

The book also introduces the term Dollar Cost Averaging, which means that if you invest a certain amount of money steadily over a long period, even if the stock price doesn’t necessarily rise, you will make a profit little by little. In other words, it can be called systematic investment. This principle also applies to mixed funds, not just stocks.

The author recommends investing in risky assets and safe assets in a ratio of 6:4 and advises on wealth management.

“What to do after becoming rich?”

People want to accumulate wealth, but they often do not think about how to maintain and live happily with the wealth they have accumulated after becoming rich, says the author.

Therefore, it is good to think in advance about what to do after becoming rich. It is not difficult to become rich; it is more difficult to maintain that wealth after becoming rich.

“What is the true form of a rich person?”

The book introduces the stories of two people who showed the true form of a rich person, Mrs. Baek Seon-hang and the only doctor. Both worked hard, succeeded, and earned a lot of money. Then, they returned the earned money to society.

This is a rare sight in countries like South Korea, where chaebols dominate the economy, but in such a societal atmosphere, they can be seen as showing an adult-like appearance rather than just being ordinary rich people.

“Wealth Studies: How to Become Rich”

There is a discipline called “Wealth Studies” in Korean universities, according to the book. The author himself attempted to make Wealth Studies a discipline for the first time.

The first step is significant in anything. Although it may feel materialistic to say Wealth Studies, in a capitalist society, living without money is not possible. In the end, you have to study how to wisely earn and maintain wealth.

Personally, I would rather earn more than have no money. As there is a saying that you need to have plenty in the barn to have a good heart, I want to have enough to be able to show interest and help others when needed.

Although it may not be a sufficient condition to pursue happiness, it can be considered a necessary condition, so it would be helpful to know in advance how to become “rich.”

Especially in times like now, when economic uncertainties are increasing, and predicting the future becomes difficult, it will be even more important.

“Why? Does Money Pass Women By – Five Genes to Make You a Female Rich Person”