Say some heartfelt truths.

Many people in this market have spent too much energy chasing trends, looking for inside information, and betting on rapid gains. But what’s the result? Nothing. In fact, for ordinary people to truly turn things around, it has little to do with these. Ultimately, what can pull you out of hardship are these three things—Charlie Munger has long explained them clearly.

**First: Practice strict frugality and save up the principal**

Don’t listen to stories about compound interest, investing, or doubling your money. Before that, you need to have capital. When Munger was young, what did he do? Simple living, staying away from consumption traps, always spending less than he earned. His goal was very clear—save up the first $100,000 first. It sounds old-fashioned, but the reality is brutal: without accumulation, all theories are pointless.

**Second: Continuous learning and expanding your circle of competence**

Opportunities don’t come every day. But when they do, you need to be able to seize them. This requires constant learning and broadening your cognitive boundaries. Munger once said a very classic phrase—In a lifetime, catching a few good opportunities is enough. The key is, you must have the ability to recognize them, and the courage to act at that moment. Most people rush in when they see hot topics, only to get cut. That’s because, fundamentally, they’re not well prepared.

**Third: Find good assets and hold patiently**

Big money is never made through frequent trading, but through waiting. Find something worth holding, then leave it be—don’t tinker. Stay away from leverage, gambling, and chasing hot trends. This tests your mindset and discipline—both of which are scarce.

It’s these three paths. Save money, learn, wait. No shortcuts, no fantasies. Either follow this logic or keep moving in place.