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...
Some individuals take the easier route instead of engaging in laborious tasks. It can be frustrating, but often there are clear reasons behind these unreasonable circumstances. In such cases, it’s tough to change the individual because they are embedded in an irrational structure. The issue lies not in the personality itself but in this structure. Changing the structure can lead to changes in personality. In reality, personality remains the same; it simply holds different significance within the context of the structure. - Joseph’s “just my thoughts”