Everyone wants to be a rich person.
But what is being rich?
Let’s look over the dictionary definition of rich person.
Rich man : Noun- a person who possesses great material wealth
Then what is ‘wealth’?
Wealth
Noun- property that has economic utility
-a monetary value or an exchange value
-the state of being rich and affluent; having a plentiful supply of material goods and money
-an abundance of material possessions and resources
-the quality of profuse abundance
We can find the reason most of the people wants to be a rich person:
The LIFE of PLENTY
Then, what is living a life of plenty again?
Most of words, not only ‘wealth’, are recognized from personal experiences and characteristics.
(Surely a life of plenty will be more so. So no more need to look up a dictionary)
From my point of view (and majority of people will think the same way as I think), a life of plenty is a life that I do whatever I want to without concerning about money (such as a financial distress).
Let’s take a moment to look back for a second.
Am I living in a condition that I can do whatever I want to without financial suffering?
If I can do what I want to from my parent’s affluent supports,
I am a rich person anyway.
However, my parents do not have that much money to support me. (The wealth they have is only enough for both of them)
Then what am I doing to live in that condition?
Am I working for a company? or studying hard to get a job?
Let’s say I got into a major company at first.
Then can I do whatever I want to?
Am I able to ignore what others think and order because I feel comfortable enough?
The answer is NO. I am not a rich person even if I got a job.
Let’s suppose I have been working for a major company for 5 years. I am an assistant manager.
(Generally career ladder follows; Staff – Supervisor – Assistant Manager – Manager – Deputy General Manager – General Manager)
Can I live comfortably doing what I want to
No, Then I am not a rich person even if I am an assistant manager.
What about after being manager? or deputy general manager? Am I a rich man if I become a general manager?
Well, there’s no correct answer in a company.
Let’s say I voluntarily retired after years with 3 years salary worthing severance pay and compensation.
I got a lot. I can do whatever now. Am I a rich man?
I’m 53 at this stage. Can I live an affluent life?
I bought an apartment from my saving.
But I still have the remainder left. (I had to move to bigger house several times to raise my two kids)
Let’s pay off the balance to get rid of the interest burden. Now I have about 400 million won left.
But both of my two kids are in colleges.
Kids need tens of millions won for college tuitions and their living expenses. I can’t just disregard their language study in abroad and living expenses after they graduate college. At least, 100 million won have to go to one kid. Minimum 100 million.
After all, I have 200 million left. Am I a rich man?
To maintain current living condition (I went all the way up to the general manager position) for me and my wife, I spend at least 70 million won.
It seems pretty less than I expect, because I do not keep much on a saving account and insurance.
Am I a rich man?
When I turn 60, the pension I monthly receive is only enough for utility fees of my apartment.
I retired from a major company after I got the general manager position.
However I will be a penniless man if I do not get a new job or start a business few years after I retired.
I know I can’t make money as much as I used to earn, I have to start a new business.
Starting new business in the middle of 50’s narrows down options to a franchised restaurant business.
Shall I all in my 200 million won to open a franchised restaurant and become a store owner?
Then I am an owner! The BOSS!!
Am I a rich man then?
