Author touts short-term investments for beginners

By Jin Yu-young

Yoo Mok-min, who founded the investment company Three Steps in 2018, was not always a successful finance man.

In fact, he began working as a contracted part-timer in his mid-thirties after giving up on his pursuit to become a government official. At this age, he was years behind members of his cohort, some of whom were already working in managerial and higher corporate positions.

He quickly turned around his financial and professional situation by opening his eyes to the world of investment and stocks. With just a little over $4,000 he had scraped together from his part-time job, he earned close to $3 million in just three years, a 60,000% profit.

He gives readers a detailed explanation of how he managed this feat in his book “The Salary Independence Project.”

“The Salary Independence Project” by Yoo Mok-min

Rather than using complicated and jargon-filled language, Yoo simplifies the world of stocks and investments by talking from personal experience, writing the book from the perspective of short-term investors, and focusing on changing attitudes rather than listing out methodology.

He clears up many misconceptions people have towards the terms “wealth” and “investment.” Many people hesitate from investing their money in stocks, as they believe the risks are too great and are based on arbitrary chance, like gambling. He points out, however, that contrary to popular belief, even small investments can turn a large profit.

By closely observing past charts, familiarizing ourselves with buying and selling, and thoroughly monitoring the stock market, one can make over $1 million in just a few years. For those with no previous experience analyzing financial charts, the author clarifies any confusion by dedicating an entire section of the book to breaking down these graphs.

Wealth, he says, is not an absolute monetary sum: you must act according to your own standards and determine a sum that is manageable and feasible. To do so, he urges beginner investors to make short-term investments and to act quickly. In a potentially volatile stock market, taking too long to make a decision can be futile. Therefore, one must be well informed of trends and act with both swiftness and confidence.

Through his company Three Steps and book “The Salary Independence Project,” Yoo gives people more fulfillment in life by helping them reach their financial goals, completely independent of their careers. His own story of starting as an underdog with no experience to becoming the owner of his company makes his argument even more convincing and gives readers hope that they too can make smart investments.

Jin Yu-young is a Korea Times intern.