Wealth Building: Prioritizing Tangible Assets for Financial Growth

Prioritize home ownership as the first step in asset management, moving earned and business income into tangible assets.

### Prioritizing Home Ownership: A Strategy for Asset Management
It's important to move earned and business income into tangible assets to avoid the depreciation of financial assets due to inflation. Many wealthy individuals prioritize tangible assets, especially home ownership, proving its significance in asset management. Strategic planning and making sacrifices can help individuals, especially those with families, to stretch their budget and prioritize buying a home.

### Principles of Becoming Wealthy
Observing the process of becoming wealthy, individuals have a common principle of controlling expenses and taking prompt action. Wealthy people prefer to invest but also maintain their desired lifestyle, making necessary financial sacrifices. The focus is on controlling spending rather than obsessing over minor differences in interest rates, emphasizing the challenge of making sacrifices for financial gain.

### The Debate Between Investing in Reconstruction or New Constructions
Investing in reconstruction requires a significant amount of capital and time, especially when considering the low proportion of jeonse. On the other hand, new constructions offer a more integrated community and require relatively lower investment capital, making them appealing to dual-income families. The debate also involves the difference in cost between buying a property for reconstruction and purchasing a new apartment nearby, with the former being more expensive due to future expectations.

### The Dilemma of Apartment Investment: New Construction vs. Reconstruction
The prices for reconstruction are lower than new constructions, despite the age of the properties, leading to a preference for new properties. Major areas in Seoul are experiencing significant price increases, raising concerns about the future trend. The emerging wealthy individuals and limited availability of apartments in top-tier areas are expected to drive prices up, shifting the focus towards new construction investments.

### Investment Options for Individuals with Savings in Gyeonggi Province
Buying affordable newly built properties in areas connected to the GTX transportation network in Gyeonggi Province is a good option for individuals with 100 to 200 million won in cash. The proximity to the Samsung Station line and the three GTX lines connecting to Gangnam Samsung Station make it a beneficial investment, especially in the long term. Wealthy Man TV recommends young viewers to move their earned and business income into tangible assets like real estate, emphasizing that financial assets are more susceptible to inflation.

### The Importance of Prioritizing Home Ownership for Wealth Building
Wealthy individuals prioritize tangible assets, with home ownership as a crucial goal for asset management. Waiting for the right time to invest in real estate is not a good strategy, as timing the market is difficult. Most rich people build wealth through real estate and then gradually move into financial assets, making home ownership a priority.

### Real Estate Investment Insights from Jeju WM's CEO Ko Jun-seok
* 💰 ** Prioritize **Tangible Assets**: Move earned and business income into **tangible assets like real estate** to combat inflation and secure **long-term wealth**.
* 🏠 ** Home Ownership Priority**: CEO Ko emphasizes **home ownership as the first step in asset management**, citing it as a **common trait among wealthy individuals**.
* 🏙️ ** Strategic Property Purchases**: Suggests a step-by-step approach to entering desirable areas, starting from **more affordable regions** and gradually moving towards **prime locations**.
* 📉 ** Timing and Strategy**: Warns against waiting for market downturns to invest, as **timing is unpredictable** and **essential in real estate**.
* 🛠️ ** New Construction vs. Reconstruction**: Favors investing in **new constructions** over reconstruction due to **shorter timelines**, **lower investment capital requirements**, and **better community amenities**.
* 📈 ** Market Trends and Future Outlook**: Predicts **continued price increases in top-tier areas** due to **limited supply** and **increasing demand from new wealthy individuals**.
* 🚄 ** Transportation Infrastructure**: Highlights the importance of considering areas connected to future transportation developments, such as the **GTX lines in Gyeonggi Province**.
* 📊 ** Asset Allocation Strategy**: Recommends focusing on **real estate first**, then gradually diversifying into **financial assets as wealth grows**, aligning with the typical trajectory of wealthy individuals.

"확실하게 말씀드릴게요" 과거로 돌아간다면 좀 더 빨리 '이렇게' 할 겁니다 [고준석 대표 3부]

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