How to be Wealthy... and what does that mean?

Naval Ravikant explains on Joe Rogan's podcast what it means to be wealthy and how to get to it... without sacrificing anyone else's happiness.

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[antoniolabrasca]

Every family has that one person who will break the family's financial struggle, I hope you become the one 😊

[davidOmoL]

Best advice I ever got was, "Invest For The Long Haul, Don't Get Too Greedy And Don't Get Too Scared. The biggest risk of all is not taking one

[marlenetraut]

✌️Giving all praise to this team of guru's for bringing my life back on track when I thought everything was gone, but with the help guidelines I was able to realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 38k in stocks (with the help of my Financial Advisor of course) and made about 146k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.

[rameshhansaravendra]

If you have no credit cards, no loans, no debt, you're richer than most people.

[irn]

I found that working with big companies way better in terms of quality of life improvements and work life balance, than working in a small business.

[prakhar.odyssey]

Love this! The biggest take away for me is to have ownership and equity. One way to do it even if you have a job and currently exchange time for money, the goal should be to learn and master high-income skills and leverage them to build a community, and the identify problems and then create productized solutions for your community in exchange for compensation. This is highly scalable and has leverage to build wealth.

[scorpiofrancis]

Most work in the near future is going to be contract based, this is what he means by “working for yourself”. You don’t have to own your own company, you just own your time & set your value.

[ardeand]

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.

[ScalperSpecltr]

Naval is describing the life of a trader! We are already doing that and each and every day!

[victorlaranjahal]

I have great admiration for Naval, and his book is a must-read handbook for anybody who's serious about making money. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[johnnyventura]

This is spot on. The future if work is working on your own time. Learn a CIS skills and you will be truly wealthy

[postblitz]

Counter-point to his last quote: a lot of people are very happy to work for a huge company and just not care about it after they go home. They do the time, get the money and focus on their life the rest of the day. They might be happier than the self-starts who worry all the time on how things are progressing.

[dgainx]

As someone who has worked in both corporate & startup. The smaller the company does not equal being happier lmao

[hugosalinasaliaga]

My experience is that smaller companies offer lower pay

[goodperson]

"be your own boss" thing is still not gonna make you free, you have no choice but hustle and dedicate most of your time to your "boss" status.

[jessicamamikina]

Just do something that will earn you money while you sleep, no matter how little. A pandemic is the perfect way to open your eyes to really see what life could be like without your usual income stream and everyone had to stay home. Well I never felt it because I invested in a trading company where I earn 4 digits per week. The best thing you can do for yourself is invest more and spend less.

[frankjamesbonarrigo]

People Never predict the future accurately

[sarangsharma]

In my opinion small companies have a toxic working hierarchical environment where power abuses are often sees. But big companies really treat you well, give you more rights, treat you more like a valued member with dignity and power plays are much less effective and/or non existant. By small companies i dont mean 5 guys who got together but a 300 plus employee company verses a huge firm. Small companies also over commit to survive and that puts a toll on employee working hours in my opinijon

[fitforfreelance]

This is pretty much just business. As people work for themselves, they will hire people to work for them. You might not have a typical 9-5, but meetings will be necessary whether you're a contractor or employee

[_vptr]

We have to understand that there is a very important competitive reasons why companies like to do important things inhouse, it is to have more control and better differentiate themselves. Earlier Apple was known for end to end control on their product, now new age companies like Tesla are doing the same. Companies that outsource most part of there work might expand quickly but they do it at the expense of quality control and loosing competitive advantage. Atleast in software/IT side, size of the companies have been steadily increasing in the past decade. With the advent of large language models and sophisticated AI, since these take massive compute and data to train, I don't see size of companies like Microsoft and Alphabet drastically decreasing anytime soon.