The Almanack of Naval Ravikant is a collection of short concise statements about wealth, judgment, happiness, and self-love.
“Seek wealth, not money or status”
Naval Ravikant
Building Wealth
Let’s discuss how to build wealth?
Wealth is having assets that earn while you sleep.
Rent your mind and not your time.
You cannot be wealthy by renting your time. Wealth is built exponentially. You cannot earn non-linearly if you rent your time.
Become the best at what you do, and luck will find you.
Remember compounding applies to everything. This includes learning, relationships, business, exercise, eating, investment, etc. I mean Everything.
You must be patient with your results. Even if you have all the pieces together it takes time. The world is an efficient place.
Building Judgement
There is no shortcut to smart. You need to make space and time where you are bored to think and get great ideas.
Habits are design patterns for solving commonly known problems. The older the problem, the older the answer or solution. If you cannot decide on something, then the answer is no! You must include the law of compounding in your decisions. You always want to go with decisions that have long-term gains but short-term pain.
Being Happy
The right order of importance for our big goals in life is happiness, health, and wealth. Happiness is a learned skill like fitness. Happiness is a choice you make not something you find. Positive habits that foster happiness include meditation, running, walking, and positive affirmations.
Don’t think of yourself as big. You are a monkey with a plan.
Without exceptions, all screen time leads to unhappiness. All non-screens activities are linked to increased happiness.
Saving Yourself
The lust for money is a bottomless pit of desire. You avoid the risk of ruin by taking care of yourself and not lusting after money.
Money will solve money problems and material problems but not health, marriage, or relationships. Money will not make you calm. It will not make you happy.
Value freedom above all else. Money gives options and buys you freedom.
Your list of priorities starts with your physical health. Followed by mental, spiritual, family health, and family wellbeing in that order.
Your physical health comes before your happiness. You need peace of body to have peace of mind. Exercising is a year-long journey. Take action and be patient with the results.
My take on the Almanack of Naval Ravikant
Wow! The Almanack of Naval Ravikant. Well, it has had a huge impact, huge impact on my life. The simple statement – The older the problem the older the solution or answer. That alone is worth the price of the book. It means we must not over-think and complicate recurrent basic problems of life. As Jim Rohn says, there are no new fundamentals.
To wrap up, the ways of generating wealth have changed with the advent of the internet. You do not need permission to set up a YouTube channel and create content. We have more opportunities and tools to create content and become wealthy in the process.
There is no shortcut to smart. Thus, you need to put in the reading to learn new and valuable skills.
Happiness is a skill and is practiced every day. We must learn to focus on our physical health above all else.
Practical Insights on the Almanack of Naval Ravikant
There are so many practical insights we can derive from this wonderful book. These include:
- Rent your mind instead of your time to scale and become wealthy
- Build your business around your character strengths
- Set your goals
- Exercise or meditate to reset a stressful mood
- Build a reading habit
- Build positive habits.
- Learn to invest wisely.
The Almanack of Naval Ravikant: Audio Summary
The Almanack of Naval Ravikant: Audio Summary
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