What would happen if an office worker earned an extra million won per month ? They say that the annual salary of a young person entering the workforce in our country is around 36 million won . So, for ease of calculation, let's assume that you earn 3 million won per month before tax . Okay, so I went from making 300 a month to making 400. So what percentage did it go up? It went up by about 33%. But we should n't think like that because what's important to us is our available investment income rather than our total income . Let's take a look . If I earn 3 million won a month, that's about 2.7 million won in years. So, let's break down where we're spending this 2.7 million won . First, I set aside 500,000 won for monthly rent and management fees . Since I live alone, I assume I'm just buying a studio apartment, and 500,000 won including management fees is a very cheap estimate . And including lunch and coffee, I set aside 300,000 won. These days, it's not easy to eat a meal for ten thousand won . If you drink coffee and it costs 300,000 won, it's not a lot to anyone. And I set aside 100,000 won for cell phone, internet, and subscription services. And for financial expenses, I set aside 300,000 won for insurance, bank interest, and installment payments . Transportation is roughly estimated to cost 100,000 won, but shouldn't we be paying membership fees and condolence money to live in society ? I set this at a bare minimum of 100,000 won. The reason this is the minimum is because our group usually has one or two accounts with 30,000 or 50,000 won in them . On top of that, if you add in the membership fee and condolence money, this is an extremely low figure of 100,000 won. And for those just starting out in society, there are a lot of people around them who are getting married . Okay, and for travel and leisure, I set aside 300,000 won. You might think, “Hey, I don’t go on trips that cost 300,000 won a year,” but even if I only go on one overseas trip a year, if I calculate that into Embang Ppampa and if I go camping once, if I calculate that into Embang Ppang, I would spend at least 300,000 won a month on average. What is your total living expenses ? Knock knock knock knock, it's 1.7 million won. So if I earn 2.7 million won and spend 1.7 million won, how much can we save and invest? yes . You can spend 1 million won. But if we were to earn an extra million won and not increase our spending, how much could we save? You can save or invest 2 million won right away . So, if my income increases from 3 million won to 4 million won, rather than thinking that my income increased by 33.3% or 3%, it would be more enjoyable from an investment perspective to think that my available income for investment increased by 100%. I thought there might be some people who think that saving 1 million won a month won't make much of a difference, so I made a table. So, what's the difference between saving 1 million won per month and saving 2 million won per month ? Well, the monthly savers would obviously be 1 million won or 2 million won, and then the annual savers would be 12 million won or 24 million won per year . So, if you look at saving this money, over the past 10 years, SMP's return has been 11 to 12%, and NASDAQ's return has been around 13 to 15%. So, let's be a little conservative and set the annual compound interest rate at 10% . How much do we need to save each month to reach 100 million won ? If you save up for 6 years and 6 months, you can save up 100 million won . But if we save 2 million won every month, how long will it take? It takes 3 years and 10 months. What this means is that if we save 2 million won each time, we can save a whopping 2 years and 8 months more than if we saved 1 million won each time . What I mean is that the period of time it takes for me to achieve my goal has been shortened by 2 years and 8 months. So, we might think that rather than earning an extra million won, we've earned more time . But since our goal isn't to raise 100 million, we decided to make it a bit more long-term . Well, if you save 1 million won per month for 5 years, you get about 77 million won. But if you save 2 million won per month, you will have 155 million won, and the difference is 77 million won. Okay, so if you save 1 million won per month for 20 years, you get 759 million won. If you save 2 million won per month, how much is that? It's 1.519 billion won. Lastly, if you save 1 million won per month for 30 years, you will have 2.26 billion won. If you save 2 million won each time, you will have 4.52 billion won. That's a difference of 2.26 billion won. When I was saving, there was a difference of 1 million won, but after 30 years, there was a difference of 2.2 billion won. Should I tell you something more fun? You save 1 million won per month for 30 years. It's 2.26 billion won. Do you know how much the principal is here? If you save 1 million won per month for 30 years, the principal will only be 360 ​​million won, but the profit will be 1.9 billion won. And if you save 2 million won each time, your principal is 720 million won, but your profit is 3.8 billion won. yes. The difference is bigger than you think . Is n't there a saying that a little goes a long way? Still, if you collect 30 sides of each teacup, you will really be able to retire. And you collect them in twos, not one at a time. Then you can retire faster. You can see how great the magic of Bokmi is, but when you actually look at it like this, you can really feel it. So, instead of just looking at this, it would be fun to calculate for yourself how much more you could earn. It doesn't end here. Once I have some seed money, I can use it as leverage to buy a house . Then, the houses I can access when my seed money is 200 million won and when it is 400 million won are completely different. Let's take a look at the table. There are a lot of changes in housing policies these days, but let's take a look assuming that the LTB for a single-family home is around 60% . If I have about 200 million won in cash, the amount I can borrow will be about 300 million won. So how much can I buy ? You can see up to 500 million . Then, the apartments I can buy with 500 million won would be either a pre-construction apartment, an outskirts apartment, or a newly built apartment. In terms of region, it would be the very outskirts of Seoul or the outskirts of Gyeonggi-do . And a 500 million won house is centered around housing. So we have 200 million in seed money, so we have 400 million. So what happens then? So, if I have 400 million won in seed money, how much of a loan can I get? Of course there are variables, but generally you can get around 600 million . So how much can I buy? I can buy a house for up to 1 billion won . You can increase leverage . Then, with this 1 billion, you can buy a semi-new apartment or a pretty decent apartment in Gyeonggi-do . If we were to give an example by region, it could go from the lower-middle class areas of Seoul to the core areas of Gyeonggi-do. And at this point, it goes beyond just housing and takes on the character of an asset. So, to put it simply, if I have 200 million won, I can buy a 500 million won apartment, and if I have 400 million won, I can buy a 1 billion won apartment . These days, there are a lot of houses worth 2 billion or 3 billion won, but that's something they have to figure out on their own, and it's something that we as freshmen in our society need to think about realistically. how is it? Isn't saving an extra million won per month a bigger difference than you might think ? I think this is why I tried to cut down on my spending and work on side projects to earn extra income . People say that the value of labor is decreasing at an absurd rate these days, and I agree with that . But I think it would be better to take that as meaning, not that I shouldn't work, but that I should use the money I earn from my work for investment . As the value of labor falls, the value of investment will rise by that much. Okay, so today we've simply talked about what would happen if you earned an extra million won, but we could expand on that a little bit . You might think, "I need to earn an extra million won," but since you're the only earner, your spouse might also earn an extra million won, or you might spend less because you have more time to spend on side projects, or your investment returns might be much higher than 10% . And the most important thing is the experience you gain while working on side projects. As I gain experience, at first I didn't earn much, but then I started earning 100,000 won, then 1 million won, then 200, 300, and finally 500. Later on, the possibility of replacing my main job opens up, and there are many cases where opportunities arise because of the relationships I build while working on side projects. We can certainly feel the joy of rolling over the extra money we earn and seeing the amount of money accumulating in that account . When I talk about side projects like this, some people might say, "Then when are you going to do it?" Side projects are fun, money is accumulating in my bank account, and I see myself growing . Then you do n't need as much rest as you think. Why? It's fun. When I see money piling up in my bank account, when I see myself growing, when I feel like people are looking out for me, that is leisure. It will feel like a game and a journey all in one . It's the same with traveling. You wouldn't know it if you just looked at the trip itself, but it's so hard to go there and search for food and pack for the plane . But it's fun. You can do this side project and get results. Then it really is that much fun. It's true. Among those of you who are reading this, there may be some who think, "Oh, if I live that hard, I'll end up wasting my life forever." However, I think that rather than slowly being eliminated, it's a good idea to sharpen your skills and live in a slightly better environment . But if you get too immersed in it and can't sleep because of it and become more stressed out, that's not a good thing, but until then, I think it's an option worth trying. The thrill of earning 200,000 or 300,000 won from a side project is different than receiving a 1 million won bonus from the company. As we live, there are times when we feel like our lives are set in stone and we want to change things up . But when you want that kind of change, I think the more you put in the effort and the more difficult it is, like a side project or side job, rather than just accumulating easy choices like winning the lottery, the more likely it is that your life will change. So, in the long run, it seems like is a game that is much more cost-effective when it's difficult than when it's easy. So, that was your cost-effective channel Moving Water. If you liked the video, please click the like button. Oh, and lastly, if my monthly salary is 3 million won, how long will it take for it to increase to 4 million won? It would take 5 years for my annual salary to increase by 6% per year to reach 1 million won. Hey, your salary just keeps increasing by 6% every year? Oh, that would be great. But that won't work out well.