He had a head start compare to the rest of us. Two house and an inheritance. That's more than what most people get in their lifetime.

My heart breaks for the Mom selling her apartment to pay for her son's debt while he isn't changing his ways. She is trying to keep him alive and he is still gambling everything. How selfish do you have to be to ruin your Mother's life for a small chance at some cash?

This is crazy. He was so lucky that his parents prepared for his future and bought him a house. He lost it all just because he wanted to get "rich" and refuses to work a 9-5 job. He could have just kept that house and worked as a fitness instructor just to pay the small necessities. Greed really does destroy lives.

Dude is not an investor. He's a gambler.

Feel sorry for the wife that is pregnant with 2 children already, and all the husband could say was “I’m suffering a lot” you did this to yourself what about your innocent family

Does anyone actually feel sorry for this dude? He inherited a lot of money and then lost it quickly. I don't think he deserves any sympathy from the world tbh

I grew up in denmark and we were considered poor. In a small flat with a bedroom, a living room and a kitchen, and a toilet. No shower. I slept with my parent and my little sister in the bedroom until i was 12 years old. Our bath was the kitchen sink. My dad was a busdriver my mother worked 2 cleaning jobs 1 early in the morning 1 at night. We had food on the table, clothes on our body, but we could never afford to go on holiday in the summer. So i learned to be careful with money when i grew up. I have roof over my head, a good job, lorrydriver, food on the table every day, can buy clothes when i need to. Never wanted the headache with big mortgages, never wanted big and expensive cars. Im content with what ive got and i have no debt. Being happy and healthy is more important to me. It dosent matter how much money you have got, you cant buy happiness and a good health.

As a Korean, I am almost glad I grew up with a dad with a gambling addiction… because the trauma I experienced from that childhood keeps me AWAY from what is essentially gambling. I have so many peers who are struggling and barely hanging on despite showing off an image of success through fancy shit bought on credit… It’s so sad to see…

The one guy who's already deep to his knees in debts and yet still continues to do the same damn thing that got him to his current situation. He says he feels sorry for those who work in offices and that those people can make more by investing. But look at what happened to him? At least lots of these people "working in offices" aren't drowning in debts of the same magnitude as the one he has.

His mother still tried to help him after he took out a loan on her house. That’s wild because he would have been disowned and reported to the authorities. She’s basically enabling him at this point

"if they invest smartly they can get a few thousand a day" - 500K in debt.

I am watching this and...i've never felt so grateful for my situation. I don't have any money, and yet, i feel i've got absolutely everything i need. A small and modest roof over my head that's clean and welcoming to anyone, food everyday, essential clothing, and some money for emergencies. I've practice contentment all my life, and i'm almost 60. I'm happier than friends who have big houses, cars, and luxury goods. They come to me and they envy me, and my simplicity. They're depressed most of the time, trying to keep up with the upscale lifestyle. I've never wanted more than i already had, and, i think that's the key to happiness, to me. As long as you want more, as long as appearances and social status matters to you, you are vulnerable to that kind of trouble. All we heard in that documentary was about greed, and wanting more, wanting a luxury car, brands, a big house. What happens if they never wanted it in the first place? I wonder. I feel sad for them, they are trapped into that addiction hell now.

This is why financial literacy is so important. It also does not matter how old you are, if you don't understand the principals of financial investing, you're always going to make poor decisions with your money. It's very unfortunate to see these young kids YOLO'ing their families wealth on reckless trades.

All his father's hardwork to get a house for him all went down the drain. What an idiot! In today's economy, it's very difficult to purchase a house and he lost his just like that. smh

I can’t believe that guy is still giving investment advice to people who have stable jobs and probably more savings. It’s an addiction.

Win or lose everything? Bruh you've ALREADY LOST EVERYTHING... WHY ARE YOU STILL INVESTING??? This is exactly how credit card debts destroy lives, you're spending money that you don't have, and by spending more you're going deeper and deeper in debt. RIP

As long as I have stable housing, reliable transportation, food in the house, a stable income that provides these, a financial safety net, and good health, Im ahead in the game.😉

When I was living in a homeless shelter my neighbor came up on something like $50k in backpay from unemployment. I had been living in shelters for years by that point waiting my turn in the housing lottery. I was happy for her when it happened and I remembered saying, you can get out of here now, you could rent a place to live or even buy somewhere rural, go to school, start a business.. she said she was investing the money and it was all gone in weeks. It still haunts me to this day what she did. I am placed in housing now and have everything I need but I think of her often and wonder if she is still living, if she ever made it out of homelessness.

All the dudes in this documentary have no shame leeching off their families. Seen too many of that in a lot in asian households and its just sad. My brother did this to my parents even if he has 4 kids to raise. He gets a lot of cash from our parents and a new car for merely existing while the rest of us have to work for what we have. We need to let adult sons clean their own messes.

One of the men interviewed mentioned that "he felt sorry for those who work in offices"; my take on this is that an individual who works in an office has a stable career with great income and employee benefits, have a chequing, savings and investment accounts that have more than sufficient amounts. The career individuals also contribute regularly onto those savings and investments accounts that have high rates and compounds, allowing the money to increase over time. Those career office individuals have made better choices.

They’re all gambling addicts. The personal trainer say he feel sorry for office workers but he has a debt on 500K and barely $50 in his bank account. Tragic. He’s living a fantasy that will never make it.

This happens when you want to be filthy rich in a short term....what for?... buy high end brands and unnecessary luxury that make you more miserable.

A beloved and now deceased college professor of mine said something when I visited him in the hospital, just weeks before his passing: "For the most part, all that we accumulate beyond what we need, is all for show- it's all show"- Mr. Marcellus Brooks, Fisk University.

I have lived in South Korea for a big chunk of my life, and the culture here widely includes both a temptation for get rich quick schemes and a compulsion for fad following that leaves people massively vulnerable to risky bandwagon investments and outright fraud. This mother is also representative one of the great drivers of South Korea's elder poverty problem, which is children unabashedly draining their own parents dry to fund their own lifestyles and bail out their debts. It's very hard to watch happen to the people around you in real time.

I never had any money when I was younger, growing up in the foster home, joining the military at 18. Everything I have, I've earned. This is why I am conservative with money, even when it come to buying used cars instead of buying new.

He should file bankruptcy instead of dragging his mom into it

새벽이른 아침에 일어나서 하루를 준비하고 버겁지만 하루를 끝끝내 마무리하는 일상은 생각보다 큰 의미가 있습니다...20대면 앞으로 적어도 8,90살까지 사는데, 6,70년 먼 걸음입니다. 조금은 천천히 가도 괜찮다고 생각해요. 너무 조바심 느끼지 마시고 하루하루 소박하게 살아가다 보면 어느새 큰 자산이 되어있을 거라 믿습니다. 다들 힘내세요...저도 20대라 엄청 공감가네요.

This fitness coach guy out there doing the same thing that led him to his demise. He even called out and questioned people who work hard in offices. Man, those people may be clinging to the office work to provide for their family, or it may be because they have no other choice but to do so in order to get by in life.

I had problem comprehending trading in general. I tried watching other KZfaq trading channels, but they made the concepts more complicated. I was almost giving up until when i discovered content and explain everything in detail. The videos are easy to follow

That gym trainer dude. He lost 500,000K with no savings. Yet he is criticizing people with regular office job.

As Albert Einstein quoted, The definition of insanity is doing the same thing over and over again and expecting a different result. Investment 101, don't put all your eggs in one basket. Addiction is a sickness. The DO OR DIE is a poor/toxic mentality. I hope these men do not give up on life, and get help.

He wants a sports car, a posh apt this man is truly Immature, and the mother is an enabler .

The translation is off by a decimal place on one of the investors. He lost ~5M usd (not 500k) and in debt 2.9M. Thats what he wanted to use to buy a place in Gangnam

The hardest lesson for me was losing 5k in speculative investing during my early 20’s. I can’t imagine losing my house and 300k savings😵‍💫

This guy will never recover his losses and doesn’t seem to learn from his mistakes. I feel very bad for his mom who is so supportive of her son mistakes. He is the only person she got in this whole world.

This is why you need to secure your own household first before you invest in anything. As with any investments, be prepared to never make that money back.

I feel sympathy for the mother, I’m Korean but was raised in the west. I’ve worked hard day and night to fix my past wrongs and find redemption through hard work. Now I have a great job in corp and it gives me a sense of happiness to give back. (also vacations are nice time to time) I wish Korea had more mental health resources, the lack there of sucks the soul out of Seoul

What a wonderful documentary. Loved the part where the doctors/scientists were explaining how clinical it was. This is a world wide phenomenon.

I'm 29 years old. A licensed but still debt less in bank. Thankfully I'm not stupid to gamble my money to non sense and not just to look pretty rich .

A mothers love is blind when it comes to her child (for most mothers not all). This waste of existence of a son is taking that for granted and does not even realize it or even cares. And he is 29 years old too...

Well these guys deserve it. There’s no shortcut in life and yet they wanna get rich quick

Dude in the gym with white sleeveless shirt putting shade on 9-5 workforce people and giving lessons on how to invest in crypto when he is $500,000 in debt is quite delusional.

What a cowardly thing to do, trying to take his own life and leaving the debt to his elderly mother🤬😡🤬. Get off your butt and work!

This is why financial literacy is everything. Don't chase hype due to FOMO. Building wealth takes time and should be looked at on a long term horizon.

I've lived in Korea and the youth there wants a lavish lifestyle and spends money on nonsense. It's MUCH more extreme than here in Western Europe imho.

Thank you. In many parts of the world, getting rich isn't really what a young person aspires to.

I’ve only visited South Korea once, and it was back in 2018. I went there on a business trip, and boy oh boy, let me tell you…it’s the most superficial society on planet Earth, that’s for sure. I thought mine was, and it is obviously (I’m from the UAE) but South Koreans are on another level. A galore of ostentatious behavior, and conspicuous spending, stemming from a dire need to compensate for one’s insecurity, by trying to fill a void through the acquisition of material stuff, that no one, absolutely no one, actually needs. This is also why, I don’t really feel bad for many of my cousins. Imagine working from 18, with a $88k/annum income for 13 years straight, living with your parents, being single, in a country with no income taxes whatsoever, and you still have ZERO savings by the time you’re 31!!!! Like WTF!!!

He's spoiled, lazy and irresponsible. I just feel bad for his mom.

"His problem was investing in cryptocurrency" Ah yes, saw that coming, when a person isn't satisfied with destroying it's own money so it destroys entire family's money

Unfortunately this is not really about "investing" or "debt", if these young people moved to Macau or Las Vegas the end result would be the same. It is a gambling addiction and it is destroying their lives and their parents lives.

its not bad to want more in your life but never take for granted what you currently have because chances are its a lot more than what some others have.

Always live below your means, don't buy something you can't afford just because you want it & be careful of what you invest in

This guy is not just a bad investor but also gambling addict.

This is a good video. Problem is the cost of living is rising much faster than the rate of salary increment.

This is why you invest a small amount first then research again.

Wrong currency translation: @6:06 his original goal was to make at least 5 million USD, not 500k USD. He also earned at one point about 2.5 million USD, not 250k USD; making his loss a lot more tragic

Many people don’t understand the difference between investing and gambling.

"Investing" in crypto is not smart. Borrowing money to invest in crypt is downright stupid. It may be ok to do short term (less than a few days) trading in crypto, but it is too risky to put any real money in it.

This behavior is absolutely like a GAMBLING 🎰 addiction . As a former Gaming Commissioner…I worked with Gambling Addicts who would 86 themselves from being able to gamble. This is an ADDICTION fueled by Greed. Mom will eventually give the last bit of resources she has to him and that will be the end of that. SAD 😔, she’s choosing to be codependent instead of helping him.

Even in a community culture like Korea, why would a parent let the son use the house for crypto currency?

"Sometimes, it's not about having a talent, skill, or passion. But what if I told you that with the right investment, you can still achieve your goals? No talent, no skill, no passion, but good investment can bring you financial freedom. Don't underestimate the power of smart financial decisions!"

Ah yea crypto and stocks were a big trend in Korea during lockdown. They treated it like a quick short term get rich scheme after watching a couple of KZfaq videos, so a majority of Korean lost money and some were taking out loans for investing too. So the trend quickly died and they’re all back to trying to get some Seoul real estate again.

"friend" that invite you to invest into something. those are not "friend"; they are just "fiend" in most cases.

while some filipino dreaming working in your country for skilled job offer. they feel like heaven for achieving goal please appreciate that korean people.

Not investing, but gambling.

Your translation is wrong, his goal is $5millon, not $500k 1 billion 10억 = $ 1milion 5 billion 50억 = $ 5millon

The love of money is the source of all evil. 250k debts for investing 😮

In korea, image is the most important. That is why most of the young people show flashy things even they can’t afford it just to earn respect. That is also one main reason why they fell for the “get rich quick scheme “. One korean vlogger even mentioned that in his country it’s very impossible to get rich unless you are born in a rich family.

At least hes still young. Just imagine if he did this at age 60

Having a child is like buying a lottery... You never know you gonna have a SMART KID or Drumb arrrrssss kid Sometimes you raise your child with love and advices and they still join gangs

the number of debts is astronomical, the first people in the material have 250k USD, then we see people who have 10-50k at first I thought, that's a lot less, not so bad, only after a while I realized how huge these 'smaller' ones are ' numbers

It's very very sad. These kids are trying to make it or break it... They broke it

I am working as a housemaid when i was 26 yo(been working for 15 years now and counting) and my boss is working about the economy in the world for example they will buy the building that is going to bankrupt and etc. She told me to never invest in Bitcoin and other investments online and i'm fortunate even being a single parent that i spent my money to buy a land in my country and now a certified tax payer, and some other investments in crops and as well as i am able to support my two children in their education.And i also went on travelling solo.Thanks God that i've learned some financial literacy.God bless everyone!

The dumb thing about him is using loan money for investing

"if they invest smartly, they can make that few thousand in one day". look whos talking about this. you dont event invest smartly and just add another burdon to your mother

Never go into debt, keep a good credit score and earn money slowly, you don’t get rich overnight which some people fall into that trap

While I don't feel sorry for people who gamble their entire families' savings, I do understand why people get started. It's true that one can't become rich or even middle class anymore by working hard. That might have been the case for the boomer's generation, but not anymore. I also grew up with the promise of "study hard, work hard, and you'll be set", but none of that was true, and I feel more and more bitter and angry for working hard. Wealth today is not made, it is inherited.

good, 29 years old and you are throwing money into the unknown hoping it would return as lottery? yeah he deserves every bit of it, but poor mom has to deal with it.

What a scum. How could he do that to his mother? Had too much money and decided to gamble; there's no excuses for what this dude did. Dude even tried to take his own life instead of trying to make up to his mother.

I feel extremely sad for the mother.

Most of these bad cases happen not because you understand too little about the economics, or because your life was too difficult somehow. It mainly happens because of your personality traits. Rational behavior is not diving into something you don't understand, with all you got (and don't have). The one thing that is really missing in society is for people to be able to block themselves from trading sites (just like for gambling). At least then one can get that help to block themselves, always something. I remember way back when I heard about bitcoins, my barber would talk so fondly about it and how much he earned on it, my thought at that time was that this will surely turn down. When you start hearing people around you hyping something up, that means it's already about to be over. There is no easy money, or everyone would do it. Best investment you can make, is in yourself as mentioned towards the end of this. Improve your ability to earn more money!

As of now, I am in my 30s and watching this with $3k USD in savings and no debts. After watching this, I feel very fortunate. PH country.

THEY ARE INVESTING IN CRYPTO BUT IS NOT INVESTMENT IS A GAMBLING ADDICTION, INSTEAD OF WORKING HARD AND EAR MONEY THEY WANT TO GET RICH FAST AND EASY.

5:43 lol this guy mocking at salaried worker when he is a wreck himself investing crypto.

29:27 "Currently working as a deliveryman, he has stopped... outside a sports gambling shop" Totally had me there.

Many of my younger co-workers in the US have 300,000 dollars in debt from student loans. I was shocked when I realized, how expense 4 years in a university had become in the US. They have a professional degree, but this is too much for any young person. Something needs to be done. I feel for these people, they seem to be in a similar situation, but worse because they do not even have a useless degree to show people.

In the US we call these sorts of investors 'degens' as in 'degenerate gamblers'. There are lots of people like this in the US too but it's much much rarer for people to take out debt and gamble on this stuff. And people don't have access to loans that are so large unless they are making more money. You occasionally read about people taking out a loan to buy bitcoin but they are typically made fun of.

Most don't have what it takes to succeed in trading. Just find other areas where you can succeed. The problem is greed and lack of patience.

Whether you are a man or a woman who is addicted to gambling, you should not associate with or marry these types of people.

Absolutely sobering how this type of addictive trading is prevalent on the other side of the world (I'm in the US). The situation here is also tragic and with the advent of social media there seems to be no end to the hopes of overnight riches among some of the youth today.

Putting money in Bitcoin is not investing. It is gambling.

Mommy is always there to protect and support her kids : Those mommy 🤗 should be in heaven

The country is built on debt. There will be a huge collapse soon due to younger generations defaulting on loans and credit card debts.

what a great channel, this channel definitely deserve more viewers.

My two rules in investing - don’t do single stocks you don’t fully understand, don’t do crypto.

The addiction is real. I luckily I stopped before getting worse. Invested 58K a few years ago in stocks/cypto and lost about 18K. It's sitting at around 40K now. I went cold turkey and stopped putting money in the account and just let it ride. Luckily I hedged my other funds in more stable investments like rare commodities and rare automobiles and those gain quite a bit in the last several years, so technically I broke even for total investments.

financial literacy isn't everything. It's more about discipline and self control.

It's hard for me to have empathy for them. They are greedy and reaping their own greed. I only sorry for the mother.

Please translate the money amounts correctly - his goal is 5,000,000,000 KRW, which should be translated to 5,000,000 USD, NOT 500,000 USD

They are complaining that it take 10 years to acumulate enought cash to buy house there in Korea. .... My thoughts as European ....damm guys u are really lucky to live in such a country...that it take just 10 yers to buy house.