Collecting the best personal finance articles around the web.
Jan 12, 2019 • 8 tweets • 1 min read
The basic principles taught in "Rich Dad Poor Dad":
1. The rich don't trade time for money. They acquire assets that make money for them.
2. The rich acquire assets (stocks, bonds, real estate, websites, businesses, etc.) while the poor and middle class acquire liabilities that they think are assets (houses, cars, most material possessions, etc.).
Oct 30, 2018 • 7 tweets • 1 min read
The basic principles taught in "Rich Dad Poor Dad":
1. The rich don't trade time for money. They acquire assets that make money for them.
2. The rich acquire assets (stocks, bonds, real estate, websites, businesses, etc.) while the poor and middle class acquire liabilities that they think are assets (houses, cars, most material possessions, etc.).
Oct 25, 2018 • 5 tweets • 1 min read
THREAD // Important concepts to understand about psychology and human behavior that impact your finances
1. Nobody cares about your failures.
Many people are scared to ask for a promotion, apply to a new job, or reach out to new clients because they fear failure. The truth is, nobody cares. Nobody is tracking your failures. Everyone is too consumed with tracking their own failures.
Oct 24, 2018 • 7 tweets • 2 min read
THREAD // Should you pursue money or your passion in your 20s?
One question Tim Ferriss asks interviewees in Tribe of Mentors is:
"What advice would you give to a smart, driven college student about to enter the ‘real world’?"
I noticed a common trend among answers.
Most interviewees said to pursue skills, money, and knowledge as much as possible in your 20s so that you can have the means to actually impact society in a meaningful way in the following decades.
Specifically, three interviewee responses stood out.
Oct 24, 2018 • 6 tweets • 1 min read
THREAD // Ideas that have had a profound impact on my life
Nature: more time outside = less anxious, more calm
Stoicism: it's not about what happens to me, but how I react
Finance: wealth comes from accumulating assets and avoiding liabilities
Essentialism: say no to anything/anyone that threatens to consume my time without giving me joy in exchange
Minimalism: less stuff = less mind clutter
Resilience: being gritty is better than being talented
Oct 23, 2018 • 7 tweets • 2 min read
THREAD // 7 lessons from 7 mentors that have changed my life
1. Great relationships and great wealth are both a product of compound interest. The serious returns come from consistent investments made over the course of many decades. (Naval Ravikant)
2. The best source of new business is the work on your desk. To acquire new clients, please the ones you have. To grow your following, focus on writing a great post today. To get promoted, do your best work on your current project. (Charlie Munger)
Oct 23, 2018 • 6 tweets • 1 min read
THREAD // My favorite quotes from "A Guide to the Good Life" by William B. Irvine:
"The easiest way for us to gain happiness is to learn how to want the things we already have."
"Humans are unhappy largely because we are insatiable; after working hard to get what we want, we routinely lose interest in the object of our desire. Rather than feeling satisfied, we feel a bit bored, and in response to this boredom, we go on to form new, even grander desires."
Oct 20, 2018 • 6 tweets • 1 min read
THREAD // Advice on Saving & Investing in Your 20s
1. When you’re just starting out, focus on becoming an income machine, not an investment guru.
2. Don't obsess over finding your passion. Instead, master some skill, interest, or knowledge that others find valuable.
3. Once you do start making serious money, resist the temptation to blow it on lifestyle upgrades.
4. Outside of your day job, become a voracious learner.
