How to Get Rich (without getting lucky) - Naval Ravikant

The school never teaches you this. In school, they always teach you the find the value of X! Come on, teacher! I want to find the value of money, not X!

Okay, I asked this question to some of my friends, and all I got was some troll answers like - "Watch Money Heist and be inspired" "Marry Elon Musk's Daughter "... wait, isn't she just a kid!

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If you search the internet for the answers, the most common responses are - save money, invest in good stock, and be a millionaire within 40 years! Fourty years is too long! Ain't nobody got time for that!

So, there's this guy named Naval Ravikant! He is an entrepreneur and investor, having invested in many famous companies in the early stages. And according to online sources, he has a net worth of 60 Million Dollars. So, he is rich! But more importantly, he knows how to become rich!

Check out Naval's Legendary Tweet -

In 2018 he tweeted - "How to Get Rich (without getting lucky)." Then he started sharing tons of good advice in the comment section. So, in this article, we will go through his tweets on becoming rich! Of course, it won't be easy, and otherwise, everyone would have been millionaires by now! But, if you follow all of the following advice, I can guarantee that you'll be one step closer to becoming rich!

Seek Wealth, Not Money of Status!

Almost all of us think that we need money if we want to be rich. Our parents and teachers always say that you need to study to get a good grade and then a good job to earn lots of money. Rather than focusing on money, you need to focus on becoming royalty with assets.

Here's the difference! Money by itself is useless! If you just put money in the bank, it's going to stay there like a lazy bum! Earning may be super low interest, like 0.5%, while the inflation rate is 2-3%! Not a good deal, right?

But if you can put your money in assets like business, rental properties, or stocks, all these assets can earn money for you while you sleep! That's why you'll always see all the super-rich people have some sorts of assets like Jeff Bezos have Amazon, Elon Musk has Tesla, Warren Buffet has Berkshire Hathaway. Once you focus on building wealth, money and status will automatically follow!

Understand that Ethical Wealth Creation is Possible

Some people think that someone else must be on the losing side to build wealth, and that's why they always make fun of insurance agents or wealth gurus. But they are scammers on different levels, they are scams of the earth, and the world is better off without them! True Story!

Here's the secret to building wealth ethically! How much you earn depends on how much value you can provide. For example, if I work as a programmer, I give value to my boss, and then my boss will pay me a programmer's salary! But if I start teaching programming to any online platform, you're providing value to more people. And you will find more income. Or, you can find more ways that your boss finds as profitable so that he will increase your salary!

You're Not Going to Get Rich Renting Out Your Time

Like I mentioned earlier, to become rich, you need assets. You will never become rich by working at Mcdonalds'! No offense, McDonald! Because if you are getting paid based on time, your income will be fixed. You work 8 hours; you get paid $3k! Ok, just sayin!

None of the wealthiest people in the world are paid based on time, and that's why property agents or insurance agents can earn a lot more money because they are paid based on results. How much they earn depends on how much work they put in. So, find a way to get paid based on the outcome and be a hard worker.

Pick an industry where you can play long-term games with long-term people

This advice is a bit extreme! You can be super-duper rich by giving society what it wants! Like Steve Jobs becoming rich by making iPhone, Elon Musk became rich by creating electric cars; Bill Gates became rich by making Windows! Of course, the world needs all this innovative stuff.

But if you are like me, you're just a normal guy or girl; you don't have to give society what it wants! That's too big! You just need to start small and keep working to increase the value that you are giving out. For example, I started writing a lot about Hive and SEO at an early stage. I believe at least some of the newbies got help from my articles, and slowly, I started getting followers. And then slowly, my income from Hive is increasing day by day! So start small and be consistent!

Anyone can say, I will go to the gym every day and build muscles! But if you give up within a month or two, all your hard work will be like -"And .... it's gone!!!"

The Internet has massively broadened the possible space of careers

When there was no internet, the thing people could do were so limited! But now, with the internet, there are many more kinds of stuff that you can do! Best of all, you can do it at your house! That's why in recent years, you will see a lot of YouTubers, Twitch streamers, Drop Shippers appearing because the internet has made it so much easier to earn money.

Here's my advice. Find something that you are good at; then you see how you can use that on the internet. Maybe you are good at playing video games, and you can stream on Twitch or make gaming tutorials. Perhaps you can be good at talking. Then you can be a coach to teach how to be a better salesperson! So with the internet, your possibilities are limitless!

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There are lots of other tips in that Tweet of Naval. You can have a look and let me know which one is your favorite! Maybe I will cover other tips in another article!

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