The science behind becoming filthy rich
Published: 09 Oct. 2009, 20:06
“I want to prove with all my heart that an average person can become rich when they make ceaseless efforts and study,” said Hang, who explores how to make a whole lot of money in his book “The Science of Getting Rich.”
Aside from his job as a professor, Han is also the chairman of a nonprofit organization called the Korean Academy of Affluent Studies. The group, whose members are in a variety of professions, aims to promote an accurate image of the rich segment of the population and encourage people to return their wealth to the country.
To help prod wealthy individuals to give back and volunteer, the organization has established a “Rich Volunteer Prize” to recognize those who have indeed made a significant impact on society and philanthropy.
The group doled out the award last month - which marked the second anniversary of the organization - to 16 wealthy individuals who contributed to society by doing everything from offering free medical services to providing aid for the elderly. Publicly, though, the group kept the names of the winners anonymous.
“The winners range from those who are young to those who are old and include a chairman of a construction company, a director of a hospital, self-made entrepreneurs, lawyers, doctors and artists,” Han said.
Han talked with the JoongAng Ilbo about how to become rich and how wealthy people should carry themselves.
Q. What is the definition of “rich?”
A. A person should have about 1 billion won ($856,840) in cash along with properties worth more than 5 billion won. Rich people are those who have worked tirelessly and saved their money.
What kind of attitude do you need to become rich?
One has to have a strong determination to live a different kind of life than others. If you are a newlywed, both the husband and wife have to bring home the money and live with their parents or in-laws to save up cash. Rather than enjoying holidays or weekends, you should have two jobs. This is hard. But if you don’t have the will to do this, you won’t come anywhere near being rich.
What is the basic rule to saving money?
Economizing is the basis of saving. One rich man I know uses the back of fliers to take notes. Countless rich men use public transportation to get to work rather than drive. Driving luxurious cars and hiring expensive private tutors for kids will only take you further away from becoming rich.
What is the “100 Rich Men Project”?
It’s a project that recruits 10 middle class men and women annually and supports them for 10 years to become rich. Most winners of the Rich Volunteer Prize promised to support the project. Of course we won’t support them financially, but we do offer them useful information, manpower and places to establish their business.
Can anyone apply?
There’s one important condition: You have to sign a contract that says you’ll donate 10 percent of your profits to volunteer organizations. Anyone who signs up just for the money is not welcome here.
By Kim Jin-hee [[email protected]]
with the Korea JoongAng Daily
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