Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.
Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth.
Tim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
Wealth creation is an evolutionarily recent positive-sum game. Status is an old zero-sum game. Those attacking wealth creation are often just seeking status.
Tim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
Economic security is acquiring sufficient assets—not income, but assets—such that the passive income they generate exceeds the level of spending you choose for yourself—your burn rate
Scott Galloway • The Algebra of Wealth: A Simple Formula for Success
It’s ownership versus wage work. If you are paid for renting out your time, even lawyers and doctors, you can make some money, but you’re not going to make the money that gives you financial freedom. You’re not going to have passive income where a business is earning for you while you are on vacation. [10]
Tim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
wealth is built through buying assets. You could acquire an asset (stocks, real estate, a share in a business) and sit back and do nothing all day while your assets accumulate value. Then one day, you can sell the asset and cash in.