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.
Read MoreFear is the greatest enemy of wealth creation. If you are not naturally courageous, you have to work much harder to constantly push outside your comfort zone. And the paradox of fear is that the more stuff you do that scares you, the less scared you are.
Read MoreMost people will never be rich. And according to the late Felix Dennis, there’s only a handful of reasons why. For those of you who are on this journey, it’s helpful to practice inversion - to look at how you might fail so that you can avoid those pitfalls. Knowing how not to get rich helps you get there in the long run. Let’s invert wealth creation to see why most people will never be rich.
Read MoreCuriosity leads to obsession, which leads to mastery. And only through mastery do you become the best in the world at what you do - and get paid well for it. But, it all begins with your genuine curiosities. If you want to get rich, the first thing you need to do is get your curiosity back.
Read MoreIn life, we rarely talk about the “losers.” Newspapers don’t report on what didn’t happen, finance gurus on Twitter don’t talk about the times they failed, and no one writes deep analysis on all the companies that quickly went bankrupt. This is because of survivorship bias. We focus on what we can see (the winners), and ignore what we can’t see (the losers). And it seriously distorts our ability to calculate the odds of something happening.
Read MoreWealth creation is the process of making good bets over time. These could be what stocks you buy, what creative projects you work on, or what business you start. Three considerations go into making good bets: Positioning, Timing, and Patience. You only need to get rich once. And one good bet can do it.
Read MoreLife is a single-player game. But who you work with along the way has as much of an impact on your success as what you choose to do. Great partners, mentors, and bosses take you places you never thought you’d go. And those relationships compound over time. The longer you’ve known someone, the less friction there is to go after really big wins. Here are some frameworks from wealth creators for choosing the right partners.
Read MoreMost people want to be wealthy. They’ll talk about it. Yearn for it. Maybe even start down the path to try and obtain it. But far fewer need to be wealthy - carrying a compulsion with them that keeps them up at night. If you want to be rich, desire isn’t enough. Compulsion is.
Read MoreChange isn't the exception in life, it’s the rule. And those who can learn fast, pivot quickly and position themselves to gain from rapidly changing circumstances eventually win. If you want to quit the “rat race” and become independently wealthy, you must adapt to change.
Read MoreNo two humans are exactly alike. And this simple recognition can be your competitive advantage. If you can learn to follow your unique interests, talents, and skills, you can escape competition and become your own niche. You can become the best at what you do. And that will get you paid.
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