How To Get Rich

Get Rich Without Getting lucky :)

Naval Ravikant (Angel Investor) Explained How a normal guy can become wealthy without getting lucky. Each lesson helps you to improve your life.

#1 Seek Wealth

Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.

#2 Avoid Status

Ignore people playing status games. They gain status by attacking people playing wealth creation games. Focus on a positive-sum game, not on a zero-sum game.

#3 Own Equity

You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.

#4 Set Hourly Rate

Set personal hourly rate. If fixing a problem will save less than your hourly rate, ignore it. If outsourcing a task will cost less than your hourly rate, outsource it.

#5 Build & Sell

Learn to sell. Learn to build. If you can do both, you will be unstoppable. To do this arm yourself with specific knowledge, accountability, and leverage.

#6 Knowledge

Specific knowledge is often highly technical or creative. It cannot be outsourced or automated. You can find it by pursuing your genuine curiosity and passion.

#7 Accountability

The most accountable people have singular, public, and risky brands: Trump, Kanye, and Elon. So take business risks under your own name and Society will reward you.

#8 Use Leverage

Fortunes require leverage. Business leverage comes from capital, people, products, and the Internet with no marginal cost of replication. (code and media)

#9 Permissionless

Code and media are permissionless leverage. They're the leverage behind the newly rich. You can create software and media that works for you while you sleep.

#10 Go Forward

If you can't code, write books and blogs, and record videos and podcasts. Build your audience on a topic/niche that you like or are passionate about.

#11 Avoid Shortcut

There are no get-rich-quick schemes. That's just someone else getting rich off you. So avoid shortcuts and think long-term.

How to Start Investing: 10 Best Lessons You Should Know

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