Joseph's "Just My Thoughts"

Some people are poor but live with a rich mind , while others are rich yet live with a poor mindset . Poverty compounded costs, and wealth compounded profits. All of them operate on the principle of compound interest . Poverty costs a lot. So, what’s the difference between a rich mind and a poor mind? Their attitude toward time varies significantly. Not everyone, but when a poor person suddenly becomes rich, they still pay the cost of poverty. The most common form is installments . Thus, even if people are rich, they often live with a poor mindset, sometimes thinking of it as savings. Even if you are poor, you can live with a rich mind, which increases your chances of getting wealthy. Debt pulls the future into the present. Drawing the future ahead of time makes people slaves. They say they are slaves of money, but in reality, they are slaves of time . If you gradually change the habit of bringing future time into the present , your attitude will shift, and your behavior will change....

Invisibly, we engage in a fierce struggle with ‘ time .’ Both economic activities and wealth accumulation are battles against time. Time is fair and irreversible. Therefore, it makes sense to evaluate and judge the value of an asset based on time. Additionally, we analyze past records to assess and forecast the future , while also avoiding current deprivation by bringing the concept of ‘future’ into the present to compensate for insufficient assets. All of this is the magic of time. The past influences the present, and the future shapes the present. The present of the past is molded by the current moment, and the future will also attempt to predict what lies ahead by examining the present. We live by differentials and sometimes integrals . I believe this phenomenon occurs because the concept of infinity exists. - Joseph’s “just my thoughts”

Being in debt means using up the future in the present. Essentially, it’s about how we manage our time. Therefore, the most valuable resource for debtors is time, and it depends on which side time favors. Paying off debt is like repaying borrowed future time early. When the ability to generate wealth over time decreases, the future time becomes a burden, and the debtor faces the pain of bankruptcy . Taking on debt is costly. It may seem like borrowed money is repaid with money, but the irreplaceable resource of time is also returned along with interest. With the rise of postpaid credit cards as a common payment method, we’ve become less sensitive to the associated pain and cost. There are two ways to spend money: using present time or future time. The costs and pain are much higher when the future is spent as if it were the present. - Joseph’s “just my thoughts”

The price of a stock reflects the current valuation of a company based on its anticipated future performance. If the future looks uncertain, the current price is likely to fall; if it appears promising, it will rise. In other words, the company’s outlook on the future is mirrored in the current stock price. Investing in stocks essentially means buying and selling future values while trading at present prices. However, the reason I can’t buy the stock now is that I’m afraid its price will drop in the future. Conversely, if I cannot sell the stock when the price decreases, I struggle to do so because the loss caused by the expectation that the stock might increase, or by the missed timing for the sale, is too significant; this can overwhelm me with fear. Thus, stock prices are most readily influenced by the weight of ‘fear rather than desire.’ Even though the current stock price reflects future value, it often happens that this future value is not trusted. When we say that time is money ...

To be in debt is to draw the future into the present and consume it. Thus, living in debt leads to an empty future. The future becomes bright only by filling that void. However, some individuals sell time to people by pulling the future into the present. Starbucks Korea does this. The company requires customers to pay in advance for coffee they have not yet purchased through the membership program . Korean customers pay for coffee today, trusting that Starbucks will serve it in the future. Without this trust, no customer would pay in advance. Therefore, credit holds significant importance in economic principles and serves as the foundation on which the economy operates. After understanding the attribution and essence of the counter-presentations ( the object of transaction and consideration ) linked to debt, the wealthy utilize debt to their advantage. Starbucks Korea becomes a debtor to customers who pay for coffee in advance; however, even though it must provide coffee in the fu...

To be in debt means using future time in advance. If you go into debt to avoid a difficult situation right now without awareness because you think, “I can pay it back later,” you will experience the cruelty of life against the fairness of time. Assuming that income does not change and the present is maintained, the future spent in advance will again be insufficient when the future that has been drawn up in the coming time becomes the present. In the end, this means you have to continue incurring debt. Not only do you have to repay a debt, but you also have to pay interest as compounded interest . Therefore, the present that has spent the future ahead of the past is poorer. Moreover, prices are higher than in the past. Most people in this world do not understand why debt is a burden due to compound interest. - Joseph’s “just my thoughts”

To receive investment or borrow money is to use the “future” in advance. We should be cautious about using the “future” ahead of the present . The way to determine whether a transaction is favorable or unfavorable is to assess whether the time associated with it is beneficial or hostile to you. Time affects both the weak and the strong equally. This fairness is daunting. It embodies the fear that there are no exceptions to this principle. If the amount of sand (time) in both hourglasses is the same and the gravitational pull is equal, but the amount of sand falling is different, the outcome is significantly different. The fairness of time causes those who live in the future rather than the present to consume irretrievable value. The poor either do not recognize or overlook the fact that increases or decreases in wealth inevitably discriminate against those who live simultaneously. There is nothing more foolish than moving forward in time knowingly. - Joseph’s “just my thoughts”

The most common excuse for people who can’t save money is that they don’t have enough to spend. This is true, but it is also unacceptable. You don’t have enough to spend because you’ve pulled your future income into the present and spent it in advance. Taking a loan , getting an investment , and using a credit card all share one thing in common: they move future time into the present. There can be no investment that ignores the effect of time and no money management that does not consider time. Discounting the future means that there is no present income; instead, future income is drawn into the present and used. There is only one way out of this trap. Currently, the only way to reduce expenditure is through frugality . After that, you can only increase your income . - Joseph’s “just my thoughts”

If I’m poor now, it means I’m more likely to become poorer in the future. Statistically , that’s the case. If you don’t have the money to go to the hospital now and you don’t seek treatment, you could suffer from cancer in the near future. Paying now reduces the risk of greater expenses later. Consequently, the rich can purchase the same goods or services at lower prices than the poor. The same principle applies to knowledge and health. Interest is a cost. If you don’t acquire knowledge, interest will accumulate, and if you neglect your health now, interest will also increase. We often forget that an expense is revenue for someone else. - Joseph’s “just my thoughts”

For humans, humility begins with the understanding that we cannot know the future. If you encounter misfortune now yet believe that good fortune will arrive in a few days, you will not be disheartened during difficult times. Conversely, if you are fortunate now but are aware that misfortune will strike soon, you will not become arrogant. Thus, humility involves preparing for an uncertain future. Being humble doesn’t mean you avoid misfortunes altogether; nevertheless, your possibilities of navigating them successfully statistically improve. Knowing the future is not necessarily an advantage in our lives. - Joseph’s “just my thoughts”

The most reliable path to wealth in this world is having foresight. Among the characters of the Old Testament, Joseph exemplified this; initially sold as a slave in Egypt, he eventually ascended to become the imperial premier, elevated from a prisoner due to his ability to foresee events. Fourteen years later, his foresight again led to the nation’s prosperity. For anyone to gain this foresight, they must gather information, analyze it, and put in substantial effort. However, there’s a key condition: the knowledge of the future must be kept exclusive to oneself. Moreover, it’s not enough to simply know; one must believe in and act upon one’s insights. Thus, both the wealthy individual and the prophet share a critical trait. Essentially, wealth stems from a unique grasp and monopoly on the future. - Joseph’s “just my thoughts”

Human abilities have limits. When current skills fall short, people often rely on potential future abilities; yet, these capabilities won’t emerge without bounds. Drawing on future potential to resolve present issues can lead to complications—this occurs due to the Law of Equivalent Exchange, which reveals that previously used potential can create new challenges in the present. Delaying payment for these abilities merely postpones the inevitable, leaving the core issues unresolved. This payment is termed “hardship.” - Joseph’s “just my thoughts”

When you find yourself lost, your true journey begins. If the future appears unclear and uncertain, the adventure has already started. If you focus solely on concerns during your travels, you may miss opportunities. Embrace the unexpected and find joy in it. - Joseph’s “just my thoughts”

There are two types of businesses in this world when approached through the value of time and divided by the kinds of business: a business that requires discounting future value and a business that needs a surcharge. The bundle discount is a “future value discount business,” while the loan business is a “future value premium business.” Currently, it is unnecessary, but a bundle of sales is a business that offers customers incentives called “discounts” when they buy what they want in advance. The principal is not returned now in the loan business but must be returned in the future, providing the present incentive as a “delay repayment” in advance. Future discounts and surcharges can exist simultaneously in a business or a product; some enterprises will be ruined by mixing them if they change positions. - Joseph’s “just my thoughts”

McDonald’s main menu featured barbecue, and the hamburger was one of 27 items. McDonald’s provided a system for customers to order directly, pick up a hamburger after a while, and serve the food on a plate rather than in a wrapper. When they faced stagnant business, they looked back at the cause and found that 80% of sales came from hamburgers, French fries, and beverages. It took a long time to reduce the menu and switch from plates to wrappers. The past holds back the present and the future. Poor success also involves the burdens of the past. - Joseph’s “just my thoughts”