Kim Saeng-min, a renowned wealth expert in the entertainment world, is a model case of saving. He saved 14 years of his earnings in the industry to buy a house and create an impressive financial portfolio. His number one advice for saving one billion won is putting practicality before vanity. Reporters like himself were at first only needed for weekend slots on morning programs, but they are now seen on TV shows across the board. Some call this a Japanese influence, but little did Kim imagine that reporters would become a broadcasting staple. All he did was start doing new things a little before others. He has now established his own persona on the KBS signature entertainment program which he's been on for ten years.


Reporter cum comedian

His parent's hard life naturally taught Kim to pinch and save from his childhood years. There's a reason why he's such a caring son to his parents who unsparingly invested in their only son while both of them were working so hard. They didn't have their own home, but not once did Kim's parents discontinue his private tutoring or classes at institutes. He also went to a private elementary school. During high school, he was known as the most good looking guy at the library he went to study at. Upon receiving several compliments on his 'cute' crew cut hairdo, he decided to become a TV commercial actor and enrolled at Seoul Art College in the Drama and Film department.

But the real world was harsher than he thought. Entering college, he found that most of his classmates were above 180cm in height with great looks. His goal was to become a CF star so he didn't have particular worries about acting but whenever he stood before the camera, he became stiff and nervous. But he willingly did every gig he could. He didn't get frustrated over feeling a lack of talent. He didn't mind minor roles or odd jobs. He just worked hard. Before his ego came his desire to first look after his ailing parents. He fortunately made it through a comedian examination in 1992 and since became a comedian, but his life wasn't all smooth sailing. He thought he would land a lead role like his colleague Shin Dong-yeob or host a major program like Im Seong-hoon, but just getting a single part was difficult enough. He was able to do one or two stints but his popularity tapered off. If he were not let go from the comedy world in 1998, he might have remained in the comedic field today. A new life for him began when he passed an open audition for a show called "Cinema Date" in which he was required to appear onscreen for only 20 seconds. The rest, he simply had to narrate. Twenty seconds was manageable for even the camera-shy Kim. He was pleased to work for a show introducing movies, and he now had a regular income. He felt he had finally landed a secure job and escaped the stressful days as a comedian cranking out new ideas every single night. The narration gig gave him more of an elite image, expanding his potential as a reporter.

Since the news came out that he had saved one billion won with his TV appearance fees alone, interview requests have been piling up. Kim suddenly earned the image of a miser. But people in the entertainment industry know that it is simply his 'concept image' as a comedian and not who he really is. He showers his beloved wife with gifts and gives high-end presents to his junior colleagues to encourage them. Then how does he still manage to save?


Asset management is 'overcoming'

There aren't many celebrities who have earned one billion won. But quite a few top notch stars get more than one billion won for a single TV commercial. But yet many want to know Kim's way of saving, as he doesn't pursue a get rich quick plan but has been a model of consistent thriftiness and steady investment. He's become a role model in the entertainment circle.

His second piece of advice on wealth management is to focus on the future. Living day by day can make a world of difference in ten years when comparing people who have goals with those who don't. Kim says, the sooner the better to get started with managing your assets. There may be no investment that doubles in a year but there is a sure way to get six-fold growth in ten years. For instance, investing in a fund that grows 20 percent in compound interest over a year can make six times the principal in six years. Don't pursue hefty short term profits. It's wise to begin investing as early as possible. Kim stresses that 'knowledge is power.' The ignorant are likely to be lured by the get rich quick schemes. Kim has also lost a fortune in various investments and startups. The lessons learned the hard way became extensive knowledge, which is why Kim reads profusely and is eager to listen to people with experience.

This is why Kim tells beginners in investment to study rather than to look for 'ways.' You are responsible for making an investment and no one else. He also added that a home purchase comes first and foremost.