Thread by @_Learn_Everyday

24 Lessons I learned from " THE ALMANACK OF NAVAL RAVIKANT".

GEMS OF WISDOM. Read it slowly and absorb it completely.

Read the thread🧵

1- Getting rich is about knowing what to do, who to do it with, and when to do it. It is much more about understanding than purely hard work, and you can't skimp on it. But it has to be directed in the right way.

2- " PRODUCTIZE YOURSELF"

"PRODUCTIZE" has leverage and specific knowledge.

"YOURSELF" Has uniqueness, accountability and also has specific knowledge.

3- Money is how we transfer wealth. Money is social credit. It is the ability to have credits and debits of others people time.

Wealth is much more business and assets that can earn while you sleep.

Assets and liabilities:-

https://twitter.com/_Learn_Everyday/status/1469413365411835907?t=GmUL_apoYZMlMOy_Fl3o5g&s=19

4- Sales skills are a form of specific knowledge.

Escape competition through authenticity.

You want to know how to do something, other people don't know how to do at the time period when those skills are in demand.

5- Learn to sell, learn to build. If you can do both, you will be unstoppable.

Being at the extreme in your art is very important in the age of leverage.

6- Judgement- especially demonstrated judgement, with high accountability and a clear track record is critical.

Warren Buffett wins here because he has massive credibility and, is highly accountable. People will throw infinite leverage behind him because of his judgement.

7- If you're going to live in a city for 10 years, if you're going to be in a job for five years, if you're in a relationship for a decade, you should be spending one to two years deciding these things. These three decisions really matters and are highly dominating.

8- Retirement is when you stop sacrificing today for an imaginary tomorrow. When today is complete, in and of itself, you're retired.

9- Your character and your reputation are things you can build, which will let you take advantage of opportunities other people may characterize as lucky, but you know it wasn't luck.

10- Be a maker who makes something interesting people want. Show your craft, practise your craft, and the right people will eventually find you.

11- Put yourself in the position with the specific knowledge, with accountability, with leverage, with the authentic skill set of you have, to be best in the world at what you do.

12- Money buys you freedom in the material world. It's not going to make you happy, it's going to solve your health problems, not going to make you calm or make your family great. But it will solve a lot of external problems. It's a reasonable step to go ahead and make money.

13- Society will give you money for things it wants but doesn't know how to get it.

14-
Wisdom- knowing the long term consequences of your actions.

Judgement- Wisdom applied to external problems is judgement.

They're highly linked; knowing the long term consequences of your actions and then making the right decision to capitalise on that.

15- The smartest people can explain things to a child. If you can't explain it to a child, then you don't know it. It's a common saying and very true.

To achieve this read my thread on Feynman Technique.

https://twitter.com/_Learn_Everyday/status/1490858573848801286?t=W-zUzVRYYG8BNpiZ4ZDvBA&s=19

16- The really smart people are clear thinkers. They understand the basics at a very fundamental level.

If you can't rederive concepts from the basics as you need them, you're lost. You're just memorising.

17- You can only make progress when you're starting with the truth.

What we wish to be true clouds our perception of what is true. Suffering is the moment when we can no longer deny reality.

18- Mental models are really just compact ways for you to recall your own knowledge.

Being successful is just about not making any mistakes. It's not about having correct judgement. It's about avoiding incorrect judgement.

19- IF YOU CAN'T DECIDE, THE ANSWER IS NO.
it's very important we only say Yes when we are pretty certain. You're never going to be absolutely certain, but you're going to be very certain.

20- Happiness is the state when nothing is missing.
Happiness is a choice and a skill you develop.

21- At the end of the day, you are a combination of your habits and the people with who you spend the most time with.

22- You always have three options: you can change it, you can accept it, or you can leave it.

23- You're going to die one day, and none of this going to matter. So enjoy yourself. Do something positive. Project some love. Make someone happy. Laugh a little bit. Appreciate the moment. And do your work.

24- All you should do is what you want to do. No one in the world is going to beat you at being you.

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This book is free and available here- navalmanack.com