James sani

If you want a million dollars, solve a million-dollar problem.

JAMES SANI

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@vladimiroane

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Money

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The myth of corrupt millionaires

We have grown up to see money as the tool of evil for corrupt individuals. However, more than 60% of millionaires are self-made. They started from 0 and built their empires one brick at a time.

This includes people like:

  • Warren Buffet
  • Howard Schultz (ex Starbucks CEO)
  • Oprah Winfrey
  • Jeff Bezos
  • Elon Musk
  • etc...

They worked hard, on problems that affected millions. And they came up with solutions that scale.ย 

Money is about value, not time

You are paid in proportion to the perceived value of your work. Not based on how hard you work: A handyman may work hard, but his work is easily replaceable so he will make less money than a lazy accountant.

The most valuable employees are the ones working on the biggest problems. The richest people are those who solve a problem for billions.ย 

If you want money, stop chasing money. Look for big problems and come up with solutions. The market will reward you generously.ย 

Money = Freedom

Money is just a belief. A number on a screen. What we want is the feeling of freedom: The ability to do what we want, when we want it, without having to think if we afford it or not.

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RELATED IDEAS

The Buffet Indicator

The Buffett Indicator is the ratio of total the United States stock market valuation to GDP. It is said to be the best predictor of market corrections or crashes.ย 

As of May 6, 2021:

  • Aggregate US Market Value: $51.8T
  • Current Quarter Annualized GDP: $22.6T
  • Buffett Indicator:ย $51.8T รท $22.6Tย =ย 229%

Historically, when the stock market went above GDP by 50-100% it crashed, going below GDP. 2021 is the year in the last 100 years when the ratio was over 2x the largest stock market in history.

Cathie Wood: Time To Sell Stocks?

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The pain and pleasure principle

(n.) Everything we do in life is driven by the need to avoid pain or the desire to gain pleasure.

"Humans will often do more to avoid pain than to gain pleasure"

This will drastically change your entire life

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What is a Mindset?

Mindset habits are:

  1. ย The thoughts you thinkย 
  2. The stories you tell yourself
  3. The lens through which you view life.ย 

3 mindset habits you NEED in your life (+ how to apply them)

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