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#2: Specific Knowledge and Talent

Everyone has talents, knowledge, and skills. To truly build wealth, you need to figure out which talents and skills you can use to your advantage. In particular, you want specific skills that not everyone has and that you can sell in some way or another.

You need to pursue your talents, hobbies, and passions. Learn how to turn them into actionable skills that people will pay for, and you’ll go far. If you turn your skills into a platform, you’re on the fast track towards building wealth!

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#1: The Creation of Wealth

According to Naval, wealth is not money. Money is the tool used to transfer wealth.

Instead, wealth is things that can earn for you and be productive, even while you sleep. Wealth is inventions, business ideas, computer programs, or products. People will buy and pay for these, even if you’r...

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Naval personally believes that rational Buddhism is an excellent guiding philosophy. That means we should meditate on the moment and live by our values while continuing to grow and improve.

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They’re more likely to help you or work with you because they know you’re someone they can count on.

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#5: Enjoy Wealth Creation!

Money is a necessity at a certain level, but you have the freedom to do what you want once you get past that point. You can retire, work, invest, invent or do anything else.

But how do you get there? There are three main ways to enjoy your life and your wealth creation.

First, you can...

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Many activities reward you in the short term but sap your happiness over the long term. Screens, caffeine, sugar, and alcohol are some of the ways we please ourselves in the short term. But over time, our brains depend on these things, and we become unhappy as soon as we can’t get them.

Try...

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Leverage is a tool to multiply your force. But, you have to work hard at wisdom and judgment.

If you apply a lot of force in the wrong direction, you’ll do poorly. In the same way, if you pick the right direction but barely apply any force, you won’t see good results.

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But, we can learn to be happy and focus on the present and more important things.

This can be tough, but learning to be happy is a skill you can develop. If you stop longing for what you don’t have, you start building up your skills at contentment. Then, you can genuinely start being happy...

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#3: Wealth is a Long-Term Game

You won’t be successful overnight. You have to build that success with compound interest in many ways.

Compound interest in money is how most people think about it, and it can be important. Growing your money through the magic of compound interest on investments is wonderful. Still, it’s no...

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#7: How to Build Happiness

Like many other things, happiness is a skill. You can’t just be happy: you have to work at it and find something that works for you.

Everyone is different, and what makes one person happy may not work for another. Try things out and see what healthy habits make you happy. Once you find thos...

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#6: Happiness, the Learned Choice

Happiness is a matter of perspective and experience. What works for you may not work for someone else. But there are still some principles that remain the same across the board.

Naval believes that happiness is an absence of desire. It’s an absence of longing for things we don’t or can’t ha...

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#8: Caring For Yourself

You need to take care of your health. This isn’t just your body; but your spirit, mind, and family’s health. But how do you do that?

Our modern world encourages so many distractions and unhealthy habits: from how we dress and move, to our activities, and how we eat. You need to make a consc...

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#9: Growing and Building Yourself

To truly build and grow yourself, you have to commit to it. You can’t just give yourself a soft “I’ll do it someday” attitude; you have to commit to yourself and others. If you tell people that you’re going to do something to grow, they can help hold you to it.

Building yourself requires ha...

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Once you find other people to care about, the meaning of life changes. You no longer just care about yourself and what you can do. You care about your friends and family, and you want to ensure that they continue to succeed after you’re gone.

Whatever way you view things, you should live yo...

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The key to leverage is to treat it as a force multiplier. You have to use your mind to create products, systems, and ideas worth more than your simple hours of labor. Find something that you can lever to be worth ten people’s labor, or even a hundred or a thousand!

It’s essential to have go...

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Succeeding in life by taking care of yourself involves many hard choices. But if you make the hard choices now in the short term, you’ll find your long-term results will be well worth it.

It may not seem like it at the moment, but eventually, you’ll be glad you pushed through. You’ll thank ...

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Not only that, but you must do things differently to set yourself above the crowd. For example, many people read books on macroeconomics, but how many read Adam Smith?

To grow yourself, you need to read, but you don’t have to follow society’s rules. Study science, but don’t just read the sa...

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#4: Leverage and Judgment

You need to gain leverage to help you apply your knowledge and talent in a way that helps you build wealth. The book itself is a form of leverage! With it, the author can teach principles to far more people than he would ever manage in a lecture hall.

Media and code are the top ways to use ...

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Second, you can “become a monk” and reduce your spending to as little as possible. For most people, this will not be an enjoyable option at all. You might have some investments, but they won’t pay off for a while.

So, the best option is to find a job that you enjoy doing. As the saying goes...

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#10: The Meaning of Life

According to Naval, there are a few ways to look at the meaning of life. One is to view it through the purposelessness of everything. At the end of time, the universe will decay, and nobody will remember who you were or what you did.

That can be tough to accept, though. The other way to loo...

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Building these things takes time, so plan on the long-term game. Treat people well, learn valuable skills, and make sound investments and judgments. You may not see great results in the short term, but your long-term results will be worth it.

Finally, find valuable and worthwhile things for...

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Introduction

Naval Ravikant is an Indian-American serial entrepreneur, investor, and former CEO of AngelList. AngelList is a website designed to pair investors with startups. He has also invested early in companies like Uber, Twitter, and Postmates.

As a result, Naval has gained a wealth of experience. ...

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Final Summary

You must take care of yourself to be happy. This includes eating healthy, meditating, and regular exercise. Do these things, and the path to building wealth will be much more pleasant!

Wealth is important, but it isn’t the only key to happiness. You have to focus on building your skills, ha...

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Trying to manifest fully as a being

Life gets busy. Has The Almanack of Naval Ravikant been gathering dust on your bookshelf? Instead, pick up the key ideas now.

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