Naval Ravikant - How To Go from Employee To Financially Independent (The Secret for True Wealth)

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Naval Ravikant illustrates with a beautiful example how would someone go from being an employee to reach financial independence and maximize wealth accumulation.
Enjoy!
👉 Naval Ravikant
📲 How to Get Rich (podcast)
• How to Get Rich
📚 Books
📖 The Almanack of Naval Ravikant, by Eric Jorgenson.
* Free - www.navalmanack.com/
* Amazon Store (affiliate Link - No Extra Charge) - amzn.to/3qNAKBc
👉 Mohnish Pabrai
📲 Digital Content / Work
/ mohnishpabrai
👥 Social
/ mohnishpabrai
📚 Books (includes affiliate links - No Extra charge to you!)
📖 The Dhandho Investor: The Low-Risk Value Method to High Returns, by Mohnish Pabrai.
* Amazon Store (affiliate link - No Extra Charge) - amzn.to/3GWLgvz
📂 📂 📂 Naval's Collection Playlist
• Naval Ravikant (Nugget...
---- Source ----
[min 37:40] • Naval Ravikant was liv...
✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎ End Notes ✎ ✎ ✎ ✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎
"In Sillicon Valley, I learnt the value of owning a business and getting out of a salary work. Super important. Eveyone should aspire to that."
e.g./ Real Estate Business
Base Case (worst) --- You are a builder who gets paid by the hour. In this case, you get paid the minimum.
Level up 1 --- A contractor. He/she gets paid by project (instead of hour). He then pays the labor (the level down) per hour, and keeps the difference.
Level up 2 --- A developer. He/she may deal with investors/banks to raise money to buy the crappy house. Then hire a bunch of contractors and rebuild the house (for a net profit).
Level up 3 --- Someone running a fund to invest in Real Estate Ventures.
Level up 4 --- A digital platform for buying houses (?) e.g./ Opendoor
The bottom line --- The more leverage, accountability and specific knowledge. The bigger the outcome. The bigger the upside. And because you own the upside (through your equity stake), the more money you will make.
Thanks to the "magic" of compounding, having these 3 things over a long period of time will make you wealthy!
⏰ Time Codes
0:00 - Intro
1:05 - Level 0
2:05 - Level 1
2:52 - Level 2
4:25 - Level 3
4:36 - Level 4
4:46 - Conclusions / Lessons
5:27 - Working Your Way Up
✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎ ✎ ✎ ✎ ✎ ✎ ✎✎ ✎ ✎✎ ✎ ✎✎✎✎✎✎✎
#Naval #Ravikant #Periscope
*****
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you!
*****

[@thatryanp]

What a boss. Even while on the call he was cleaning someone's oven

[@didafm]

I know quiet a few construction workers who are far better off financial then people I know who got degrees.

[@Drew_Warner]

Not from leverage tho. From financial discipline.I agree with you big tome. Higher leverage income definitely does not equal financial freedom. Title is wrong on this one

[@TudorIrimescu]

Just wanted to tell you. I love this channel. Keep doing what you're doing because it's great.

[@PickingNuggets]

Appreciate it! Thank you ❤️

[@aressto]

Max value, especially notes. Thank you so much

[@PickingNuggets]

Thank you :)

[@SyvilMedia]

I’m about to watch this video. The amount of videos I’ve watched on KZbin and studied . It’s very frustrating that they’re not actually saying anything practical.

[@dothex4919]

Thank you so much for making these! Beautiful knowledge ❤️

[@PickingNuggets]

Thank You ❤️ And really appreciate the support :)

[@sicario_paintball]

How can you not love Naval 💛

[@reece_harding]

This is incredible

[@jianliu8339]

specific knowledge and higher leverage and accountability and compound

[@pfuhad3760]

Thank you , i am now going to listen naval podcast on how to get rich once again .

[@PickingNuggets]

Good idea! These concepts are worth to internalize amap!

[@cool__eee3646]

Always lit men 🔥🔥

[@PickingNuggets]

thank you!

[@vikasvg]

Thanks

[@jitendrasolanki4304]

Great Work 👌

[@PickingNuggets]

Thanks !

[@areez22]

Excellent video

[@PickingNuggets]

Thanks !

[@nipunsadvilkar4304]

Great content! Can you provide link to specific lecture you've mentioned in the video of Mohnish Pabrai about owing a business? There are so many lectures on his channel, not sure which one you are referring to?

[@PickingNuggets]

Hey Nipun! I don't know if there is any specific lecture in which he explicitly mentions the importance of owning a business. I learnt it in a more implicit way by watching all of his lectures (I have watched them all at least once). Mainly through his life stories (that he usually tells), I have come to grab this concept. I don't think is a concept you can internalize deep enough in only 1 lecture. Just like compounding, the maths are there and we can see it "on paper", but it takes time (at least to me) to realize its power (because we as humans are wired to think linearly). I was lucky I stumble upon these lectures in plain quarentine with nothing really to do 😂

[@michaeljames3912]

This was a little ignorant of the huge difference in skill levels and income between entry level laborers and highly skilled tradespeople. Naval says the money won't solve problems, but can solve your money problems. Well a highly skilled and in demand tradesperson can definitely solve their money problems and build a good investment portfolio by living well inside their means.

[@1edber]

Great knowledge here. What is that sound in the background??

[@PickingNuggets]

Thank you :) is a fireplace!

[@TheStaubzauger]

The developers

[@chetankantharia0]

Podcast link of "How to get rich without getting lucky" which is in description is not working

[@PickingNuggets]

Thank you! I will update it. This one should work: kzbin.info/www/bejne/Z163i6SFqLt2hK8&ab_channel=Naval

[@didafm]

Owning a business is way harder then being an employee.

[@benixmaximus]

I think a lot of successful business people suggest to work on your craft alongside your employee job. Finding something that you are passionate about will give you the drive to keep at it and put the time in. Create a business model that compliments your personality. For example, if you aren't a people person then you may want a business model that works without having staff.

[@didafm]

@@benixmaximus agreed. However I worked 50 hours per week plus 1.5 hour of commuting every day.

[@kianhughes6309]

It doesn’t need to be. A successful business in my opinion is one that can survive without you, where everything is delegated and outsourced. It’s creating the business that takes a little more effort, and getting it off the ground in the first place. Robert Kiyosaki once said that if you spend a lot of time on your business, it’s not a business, it’s a job

[@didafm]

@@kianhughes6309 lol you've never ran abusiness

[@kianhughes6309]

@@didafm You’re right. I don’t run a business, I own one instead.

[@Leopar525]

Are there any books with these subjects? It is so super interesting

[@PickingNuggets]

For sure! Check out the links in the description!

[@Abhishekb936]

Almanack of Naval Ravikant and Psychology of money

[@SamirPatnaik]

Rich Dad Poor Dad

[@hasenamanyecgaa]

Tell me the music used man.

[@PickingNuggets]

The song is Lights from Patrick Patrickios!

[@192titan]

What does huge upside mean?

[@PickingNuggets]

Equivalent to gain

[@Leopar525]

What’s with the restaurant sounds on the background ?

[@tenzin3409]

Why are you asking the uploader, hes not naval

[@PickingNuggets]

Naval mentioned it was a fireplace (in another talk)

[@Leopar525]

@@PickingNuggets thank you

[@Leopar525]

@@tenzin3409 he did answer, how about that?

[@MINDSHOPSCHOOL]

What's that background noise :(

[@Clyde.artwork]

The background noise man....cmon

[@didafm]

Construction workers make alot more then $15. More like $22-50

[@michaeljames3912]

Who, entry level laborers or tradespeople like electricians and carpenter? a master tradesperson can make many times that and they are in huge demand.

[@ethanhart3579]

what the fuck is up with the background noise

[@Sebastian-42-69]

If everybody is owning a business, then who are you going to employ? So it's wrong what Naval Ravikant said and not everyone can be rich, right? I somehow don't believe everyone can.

[@haydenwilsonx]

Correct not everyone can/wants to

[@Talkless142]

Down voted for background noise

[@Kyouma.]

Owning a business sounds nice, but won't other people have to do the salary work *for you* then? So you should aim to not work in salary jobs anymore to instead have others do salary jobs for you to make you wealthy? Sorry, but I don't buy this way of thought. It's at least immoral

[@PickingNuggets]

Good choice!

[@shubhambagri97]

Not immoral. It's free market. Some like jobs, some don't. Owning a business obviously comes with risks of losing it all.