Who Wants to Be a Millionaire … At the age of 12?
What does the life path consist of? A child learns to read, goes to kindergarten, school, goes to university, finds a job. This scenario is considered familiar and normal. But a South Korean boy decided to break the system. By the age of 12, he has achieved unprecedented success without study.
The boy was interested in trading in the stock market. When the country was quarantined, and schoolchildren were sent on forced vacations, Kwon Joon decided to devote all his free time to his new hobby.
In April 2020, Kwon’s mother opened a retail merchant account for her 12-year-old son, which was initially funded with 25 million won, which is roughly equivalent to the US $22,500. The Korean market has experienced the most difficult times in the past 10 years, and it was COSPI ‒ the stock index ‒ that began to actively recover.
The Korean boy was so convincing that his parents supported his decision. He made weighty arguments and believed in his own success. On TV, Kwon heard from an expert that such a chance occurs once every ten years, and now it should not be missed. The young man also noted that he intends to reach the level of Warren Buffett.
The teen’s plans do not include short-term trading. Joon plans to multiply his income for decades. “Only a long-term perspective,” declares the young entrepreneur with adult seriousness.
While Kwon’s classmates were taking a break from school, the future investor analyzed the market, currency fluctuations, and market prices; looked through investment options, and chose the most attractive ones.
Just imagine, a child managed to invest in Samsung, Hyundai motors, and the trendy Korean app KakaoTalk!
Kwon’s example inspires thousands and thousands of people to take action. He proved that even in difficult conditions of crisis and unemployment, it is quite possible to find a job to your liking, even at such a young age. The prospect of stable remote work is especially attractive for graduates. According to statistics, 75% of college graduates have difficulty finding work. There are not enough jobs for everyone and young people prefer to adjust their career plans as soon as possible.
Therefore, the 12-year-old businessman declares that instead of studying at an expensive university for the money of his parents, he will follow in the footsteps of the great Warren Buffett and will be able to provide for the family himself.
