Naval Ravikant is probably the most popular & influential investor in recent times.
Back in 2018, Naval shared his thoughts on how to get rich without getting lucky on Twitter. And these rules are a must-read for people from all walks of life who want to solve their money problems.
Here’s the breakdown:
Rule #1: Seek wealth, not money or status
Naval reminds us that what people care about isn’t status or money.
It’s actually wealth.
Wealth is having assets that earn while you sleep. We all know these things “in theory,” we just forget them in the moment.
There’s no point in sacrificing your time and health to run after money and status. Wealth gives you true freedom.
You have to actively remind yourself what matters most.
Rule #2: Keep Learning
Most people who try to become rich think it’s about knowing some secret.
When actually, it’s quite simple.
You just need to keep learning. Learn to sell. Learn to build. If you can do both, you will be unstoppable.
So, don’t fall into the get-rich-quick trap that most people do.
Rule #3: Choose People Wisely
It takes people a long time to learn this one.
Success is about working with people who are intelligent, have high energy, and have high integrity. This applies to your business as well as your personal sphere.
Do not partner with cynics or pessimists as their beliefs are usually self-fulfilling.
As they say, one rotten egg can spoil the whole basket.
Rule #4: Leverage The Internet
This one is my favorite.
It’s okay if you are not a techie, this rule still applies. In the last few years, the Internet has broadened the scope of many careers. It has even brought forth newer career options.
You have to leverage the internet to achieve your financial goals. Thanks to the internet, learning is free. But so is selling your product/services to millions of people via social media.
It’s about time you start using internet the right way instead of killing your time on Instagram reels and TikTok videos.
A lot of people are yet to figure this one out.
Rule #5: There is no skill called “business”
Naval suggests that one should avoid business magazines and business classes.
Build your specific knowledge by pursuing your genuine curiosity and passion rather than whatever is hot right now.
You will get rich by giving society what it wants but does not yet know how to get. At scale.
I connect with this personally because I am not an MBA graduate at all. But still, I managed to leave the 9-5 and venture out on my own.
You can read his complete Twitter thread here: https://twitter.com/naval/status/1002103360646823936