I've seen comments like, "You need 10 billion won to be rich these days."

I've seen comments like, "You need 10 billion won to be rich these days." The Korean dictionary says, "You are rich because you have a lot of money." Generosity will vary from person to person. Someone thinks that even if you have 1 billion won, you are rich. You can think that you have 10 billion won to be rich. These days, many people seem to think that you need 10 billion won to be rich.

I read a quote from Howejeol's "The Unchanging Law" book. An interview in The New York Times in 2007. Gary Kremen, founder of the online dating site Match.COM, was 43 years old at the time. Kremen has a fortune of $10 million. He is the top 0.5% rich in the U.S. He is the world's richest. He is the top 0.001% rich. But in Silicon Valley, he is an ordinary person. "You can't even give out a business card here for $10 million," Kremen said. Kremen worked 60-80 hours a week. He thought his wealth was too small to cut back on work and take a break.

A person like Cremen of Silicon Valley lives as a workaholic, saying, "We are short of money even though we have more than 10 billion won in assets as of 2007. Rich seems to be a relative concept.

People who think that 10 billion won is worth of money are even more unhappy than those who think that 10 billion won is worth of money. If the standard for the rich is 10 billion won, people who have more than 1 billion won in wealth will not be satisfied. For some people, even 0 won, which has no debt, is a dream. Many people have debt of tens of millions of won or hundreds of millions of won. Even if you have 10 million won in your bank account, you are much happier than a person who has debt.

By my standards, rich people are in the top 1%. If there are 100 people, they are the richest person among them. It's just my standard. Currently, 3 billion is said to be the top 1%. [1] If the net worth is 3 billion, I think it is rich. If the top 10 percent is a rich person. If there are 10 people, it is the best-off person among them. If it exceeds 1 billion, it is said to be the top 10%. If there is 1.4 billion, it is the top 5%. [1]

The top 0.1% is said to be 7.7 billion won. [2] The fact that there is 10 billion won means that it is within the top 0.1%. The summary is the top 10% of the 1 billion, the top 5% of the 1.4 billion, the top 1% of the 3 billion, and the top 0.1% of the 7.7 billion.

[1] 2023.12.12 SBS, top 10% with 1 billion without debt in Korea?...What about you?
[2] 2023.05.20, Seoul Finance, How much net worth to become the top 0.1 percent richer? "Active Investment Technology"