It is a very simple idea to use the power of compound interest

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It is a very simple idea to use the power of compound interest  Smart people are easily attracted by complex things, and underestimate the great influence and importance of simple ideas. But Monish Pabrai is a full pragmatist, and he will not fall into this trap. "It is a very simple idea to use the power of compound interest, a very simple idea to imitate, and a very simple idea to be honest." He said. However, when you apply some powerful ideas with great enthusiasm, the cumulative effect is "incomparable".
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There are six clear and practical steps to turning the desire for money into reality

 There are six clear and practical steps to turning the desire for money into reality


First, imagine how much money you want. Just say to yourself, "I hope I can get enough money." It is far from enough. We must quantify our wishes (psychologically, this certainty is reasonable, and we will introduce it in detail in the next chapter).

Second, in order to obtain the above-mentioned certain amount of money, make clear how much effort you can make to exchange this wealth (there is no money in the world for nothing).

Third, determine when you want to get this wealth.

Fourth, make a specific plan to realize the ideal, and then start to implement the plan immediately regardless of whether you are ready or not.

Fifth, make a clear and specific list, write down the amount of money you want, the deadline for getting the money, the price you need to pay, and a clear plan for successfully obtaining the wealth.

Sixth, read the list aloud at least twice a day, read it before going to bed and read it again after waking up in the morning. In the process of reading, it seems that you have seen and felt this wealth, and you should believe that you have so much money.

Follow the above six steps to realize your dream, and the sixth step is particularly important.

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