Wealth is an asset that can help you make money while you sleep.
This article distills perspectives on wealth and success from the Navarre Book, including the definition of money, the skills to get rich, the power of compounding, the difference between return on equity and reward, and the importance of leverage. The article also emphasizes the importance of pursuing interests and lifelong Xi.
According to the Navarre Treasure Book, money is a symbol of social credit and has the ability to call on other people's time. Wealth, on the other hand, is an asset that can help you make money while you sleep, and it is a computer program that serves customers day and night. In simple terms, wealth is businesses and assets that generate consistent income.
In order to make money in society, we need to provide society with something that is in demand but not available. If you simply invest a lot of time in exchange for pay, high-paying professions such as lawyers and doctors, you can get very little compensation. True wealth is created through the creation of a company or investment.
All the rewards in life, whether wealth, relationships, or knowledge, come from compound interest. The power of compound interest lies in the continuous investment of time and effort, so that the original foundation continues to grow, which leads to greater returns.
The difference between earning a return on equity and earning remuneration is that a return on equity is a type of passive income, whereas earning remuneration is an active income. To achieve financial freedom, we need to own equity in a business or other assets that can generate passive income.
There are three types of leverage: labor leverage, capital leverage, and copying products with zero editing costs.
Labor leverage is to let someone else work for you;Capital leverage is the use of money to amplify the influence of decisions;Products with zero cost of copying and editing are the use of the Internet and other platforms to infinitely copy and disseminate content.
Jobs in the world are divided into jobs where leverage exists and jobs where leverage does not exist.
We should avoid supporting work such as customer service, because the input and output of this kind of work are relatively closely related, and the output depends mainly on the length of the input. We should choose those jobs that can be leveraged to achieve greater success.
Wealth is an asset that can help you make money while you sleep.
All the rewards in life come from compound interest.
There are three types of leverage: labor leverage, capital leverage, and copying products with zero editing costs.
Jobs in the world are divided into jobs where leverage exists and jobs where leverage does not exist.
This article distills perspectives on wealth and success from the Navarre Book, including the definition of money, the skills to get rich, the power of compounding, the difference between return on equity and reward, and the importance of leverage. At the same time, the article emphasizes the importance of pursuing hobbies and lifelong learning Xi, and reminds us to manage the time of knowledge workers reasonably and avoid choosing jobs with leverage. By understanding these perspectives, we can better understand the mysteries of wealth and success, and provide valuable references for our own future planning.
The Navarre Book is a collection and collation of Eric Jorgenson's wisdom mantras from Navarre, a well-known angel investor in Silicon Valley, especially on wealth, happiness and success in life. The book mentions that wealth is obtained by creating value for society, not through opportunistic or illegal means such as ***. At the same time, happiness is not the pursuit of money and material satisfaction, but the pursuit of one's own inner satisfaction and happiness. In addition, the book also mentions some ideas about success in life, such as pursuing one's own interests, Xi constantly learning and growing, and building good interpersonal relationships.
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