This post is part of the 📖 The Almanack of Naval Ravikant series.
Today, I am reading Building Judgement section of the Wealth: How to get rich without getting lucky chapter from the book, The Almanack of Naval Ravikant: A Guide to Wealth and Happiness written by Author, Jack Butcher.
Getting rich is not just about luck; happiness is not just a trait we are born with. These aspirations may seem out of reach, but building wealth and being happy are skills we can learn.
So what are these skills, and how do we learn them? What are the principles that should guide our efforts? What does progress really look like?
The Book The Almanack of Naval Ravikant: A Guide to Wealth and Happiness is a collection of Naval’s wisdom and experience from the last ten years, shared as a curation of his most insightful interviews and poignant reflections.
Yesterday, I read Be Patient section from the Wealth: How to get rich without getting lucky chapter.
Wealth: How to get rich without getting lucky
There’s no shortcut to smart
If you want to make the maximum amount of money possible, if you’re going to get rich over your life in a deterministically predictable way, stay on the bleeding edge of trends and study technology, design, and art — become good at something.
You don't get rich by spending your time to save money.
You get rich by saving your time to make money.
Hard work is overrated. How hard you work matters a lot less in the modern economy.
What is underrated?
Judgment. Judgment is underrated.
In an age of leverage, one correct decision can win everything.
Without hard work, you'll develop neither judgment nor leverage.
How to Think Clearly
“Clear thinker” is a better compliment than “smart.”
Real knowledge is intrinsic, and it’s built from the ground up.
I think 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 it’s very true.
You would rather understand the basics than memorize all kinds of complicated concepts you can’t stitch together and can’t rederive from the basics.
If you can’t rederive concepts from the basics as you need them, you’re lost. You’re just memorizing.
Make the time. It’s only after you’re bored you have great ideas. It’s never going to be when you’re stressed or busy, running around or rushed.
If someone uses a lot of fancy words and a lot of big concepts, they probably don’t know what they’re talking about.
To see the truth, you have to get your ego out of the way because your ego doesn’t want to face the truth.
The brilliant thinkers are clear thinkers. They understand the basics at a very, very fundamental level.
The smaller you can make your ego, the less conditioned you can make your reactions, the less desires you can have about the outcome you want, the easier it will be to see the reality.
That’s it for today. Tomorrow, we will read the Shed Your Identity to See Reality section.
Author(s): Eric Jorgenson
Part 12 of 33 in the 📖 The Almanack of Naval Ravikant book series.