Money and Happiness are not zero-sum games. They are positive sum games. Everyone in the world can be happy. Everyone in the world can be wealthy.
It takes decades to make money. it's gonna take longer than you would like. The best time to start making money was yesterday. The next best time is now!
Owning equity in a business is the only real path towards making money over time.
If you don't own equity in a business, your odds of making money are very slim.
The most important rule in making money: "Productize Yourself." You create a product out of something you naturally and uniquely do really really very well.
A Product is a set of things you uniquely know how to do, that society wants and you can leverage up.
Yourself means: you don't get to compete being somebody else. If you compete on being somebody else, you're not gonna be the best in the world. And if you are not the best in the world, you're not gonna get rewarded properly for it.
When you find the right thing to do, when you find the right people to work with, then investing deeply into that and sticking to that for decades is how you make the big bucks. Compound Interest is King!
Try to find a career or a job or an education where you will end up in a business where the inputs and outputs are disconnected.
If you get a career where you are tracked on the outputs, you're gonna get much better (Sales, Coding, building and selling a product).
Skin in the Game by @nntaleb is the best book I read in 2018.
You want to get Specific Knowledge: figure out what you were doing as a kid, teenager almost effortlessly that you didn't even consider a skill but people around you noticed.
Another book you want to pick up is Influence by Robert Cialdini. It has 'CLASSR'-consistency, Liking, Authority, Scarcity, Social Proof and Reciprocity as the tools to persuasion.
Basic Mathematics is underrated. If you're going to make money, invest money, your basic mathematics should be good. Pick the big three (Arithmetics, Probability and Statistics).
If you are going to go to University, the first rule is to learn things that you can't learn by yourself and this turns out to be mostly the STEM disciplines. Most things you can learn at home by yourself.
If you are going to make money, it has to be your number one desire. It is very hard to be successful in business while you're trying to live a rounded life.
Three Key Decision-Making Heuristics:
1. If you can't decide, the answer is NO.
2. If you have two choices to make and they are relatively equal, take the path that is more difficult and painful in the short-term
3. Always make the choice that leaves you calmer in the longterm
1. If you can't decide, the answer is NO.
2. If you have two choices to make and they are relatively equal, take the path that is more difficult and painful in the short-term
3. Always make the choice that leaves you calmer in the longterm
Peace of mind is the precursor to happiness. Happiness cannot be chased directly. If you chase happiness directly, you chase it as a pleasure and pleasure comes with withdrawal symptoms.
Value your time, it is all you have. It is more important that money, than all your friends. Do not waste your time.
As long as you are doing what you want, it is not a waste of time. You're not responsible for making other people happy.
When you're going into a relationship, you want to be very selfish, you want to be your worst self. Don't try to keep an act, because eventually your true nature will emerge.
Failure sucks but if you never had failure, you'd never improve. There would be no growth.
Passive income comes from owning a piece of a business.
Happiness is a choice you make, it is a skill you develop.
Most of the gains in life come from suffering in the short-term so you can get paid in the long-term. Short-term pains result in long-term gains.
