Investment is essential. So how should you invest?
John Lee, CEO of Meritz Asset Management in South Korea, has given a lot of lectures on stock investment.
Here is a summary of his stock investing philosophy:
- Stocks are bought and collected, not bought and sold.
- The time to sell stock is when you need cash, like when getting married.
- Get rid of your credit card, don’t buy a car, don’t buy a house, and buy stocks with that money.
Personally, I totally agree with his opinion. I even agree with his saying don’t buy a house. I will write another article on why I do not plan on buying a real estate in the short run.
In the past, when I was working hard on YouTube, I made a video on this topic as well. The link is here.
The key point is that when you buy a car, the money runs out of your pocket with various fees, such as maintenance, repairs, taxes, and installment interest payment.
This is the contrary to achieving financial freedom.
The goal is to collect assets that generate positive cash inflows that put money in your pockets, and minimize liabilities that generate negative cash outflows that take money out of your pockets when you are young.
And investing in stocks is the fastest and easiest way to accumulate assets. I will talk about more on which stocks you can consider buying.
You can find Korean version article here.
