The basis for judging whether a person’s life can truly change lies in observing how someone continues to engage in meaningful activities every day, regularly and consistently. What matters is that the person does not stop doing a lot of work at once, but instead continues steadily every day, even if the efforts are small. Lao-tzu said, “Nature doesn’t rush. But it has been accomplishing everything.” If you want to be healthy, you can engage in small but consistent exercise each day. If you want to build wealth, you can pursue small production and investment activities daily. If you want to be smart, you can read or study even a small amount each day. Life consists of both simple-interest life and compound-interest life. - Joseph’s “just my thoughts”
Warren Buffett, who has amassed 99% of his wealth since the age of 50, revealed that the secret lies in “compound.” When you lend money, interest is added to the principal as income. Initially, interest is applied only to the principal, but compound interest is applied to both the principal and the accumulated interest. Therefore, at first, it seems negligible, but over time, significant wealth growth takes place. The same principle applies to reading: even if your reading speed is slow, consistently reading just a few books each day can lead to a wealth of knowledge. After a year, this accumulated knowledge creates a network effect, allowing you to quickly absorb new information. Consequently, your reading speed increases dramatically, leading to an exponential growth in the volume of material you can handle. This exemplifies the compound interest effect. Even small, consistent actions taken daily can build up and create a compound interest effect over time. Cartoonist Lee Hyun-se sta...