How To Get Rich On The Path of Least Resistance

Just like water flowing in a river or electricity through a wire, your life moves down the path of least resistance. And to change that path, you must change the underlying structure of your life - your desires, beliefs, assumptions, aspirations, and how you view the world. Because it’s this structure that determines your behavior. You’ll never be rich if you don’t believe you can get there. You’ll never try to get rich unless you believe it can happen. So, here’s how to get rich on the path of least resistance.

Brand Your Name To Build Wealth

You are not a job description printed in a box. And if you want to build wealth, you have to take advantage of all the aspects of your personality - your passion, your skillset, your personal well-being, your sense of humor - and transform those into a brand that is irreplaceable.

Want To Get Rich? Get Uncomfortable

To build the life you want, you have to do things you've never done before. The habits that got you here are not going to get you where you want to go. You have to push further. And there's a simple heuristic you can use to know if you are on the right track: you'll feel uncomfortable.

Status vs. Wealth: Why The Rich Don't Act Rich

Those who signal their “wealth” are rarely wealthy. This is because they are playing a different game than wealth accumulation. They are playing status games - which are exhausting and expensive. Meanwhile, true wealth accumulators avoid status games and buy productive assets instead. Play wealth accumulation games, not status games.

The Best Kind Of Work Feels Like Play

When you work on the right thing, it doesn’t feel like work. As Naval Ravikant says: “Building specific knowledge will feel like play to you but will look like work to others.” I get this feeling most often with writing. It doesn’t feel like work, but it looks like work to other people. And that’s the secret.

The Pursuit Of Wealth Is The Pursuit of Freedom

The pursuit of wealth is not the pursuit of material goods. You don’t need sports cars, luxury clothes, yachts, or a $10,000 watch (though they could be fun, for a while). The lasting result of real wealth boils down to this: freedom of your time. It’s the freedom to live your life on your own schedule and your own agenda, pursuing passions and creative pursuits that light you up. The pursuit of wealth is the pursuit of freedom, nothing more.

The Power Of No: Why You Need To Say “No” More

Time is your most important asset. It can’t be replenished, it can’t be stored for use later, and once it’s gone… it’s gone for good. That’s why you have to learn to say NO. If you don’t, other people’s priorities will become yours. And you’ll constantly wonder why you don’t have enough time or energy to build something for yourself.

Build A Skill For Income, Invest The Rest For Freedom

Most people jump from one project to the next - chasing one shiny object after another but never finishing anything. This is a bad idea because you want to compound the same set of skills for decades to become the best at what you do. But at the same time, you also want to expose yourself to the very real upside in other industries. How can you do both? Visual designer and entrepreneur, Jack Butcher, has a tweet that articulates the solution perfectly: “Build where you're best, bet where you aren't.”

Play The Long Game: Delay Gratification Now To Get More Later

All of life’s great returns come from compound interest. Whether you are compounding money, relationships, or skills, time is your greatest force multiplier. And that means you want to play the long game. You want to delay gratification now so you can get more later. Successful businesses, investors, wealth creators, athletes, and entrepreneurs all play the long game to maximize returns. Here’s how they do it…

Build Assets That Work For You After You’re Finished Working On Them

To become financially free, you need to spend your time making things that work for you after you’re finished working on them. These are systems, assets, media, and code that keep chugging along with uncapped upside when you’re finished with them. Only exchange as much time for money as you need to survive. Otherwise, work on stuff that works for you.

Building WealthThomas WaschenfelderMay 31, 2023build assets, how to build assets

Master The Mindset Of The Wealthy. Then Build.