In his piece, Lee Sang-heon, the Director of Employment Policy at the International Labour Organization (ILO), shares a deeply personal reflection on his reluctance to invest in stocks throughout his life. He recounts how his connection to a stock from his university days, which his parents held in Korea Electric Power Corporation, was more about national pride than financial gain. Despite the discussions around privatization at the time, the stock was seen as a commitment to the country rather than a means to profit. Lee notes how parents would reassure him about the stability of the company, but he wonders if they were truly secure in their investments or just hopeful. This nostalgic look back highlights his initial perception of stocks as symbols of collective national identity.

As Lee transitioned into the field of economics, he still found himself avoiding stock investments, leading others to question his choices. He acknowledges that while economists may be adept at discussing money, it does not necessarily mean they are successful in investing. Drawing on historical examples, he reflects on the failures of renowned economists such as Irving Fisher, whose overconfidence preceded the Great Depression, and John Maynard Keynes, who faltered in the market despite his theoretical knowledge. Lee concludes that while understanding market theory is one thing, applying it to personal finances is another layer of complexity, often fraught with anxiety and risk, which he finds daunting.

Ultimately, Lee admits that his hesitance was also exacerbated by his financial struggles. Even when his savings began to grow, his confidence had already been shaken by past experiences. He presents a relatable picture of his trips to the bank, where he awkwardly inquires about better interest rates, acutely aware of the disconnect between customers and their financial institutions. His reflections serve as both an introspection on personal financial decisions and a broader commentary on the psychological barriers that many face when navigating the unpredictable world of investments.