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Akashat_jain Authors Danny Baldus-Strauss

7 days 30 days All time Recent Popular
Danny Baldus-Strauss
Danny Baldus-Strauss
@BackpackerFI
23 lessons I learned on my path from $0 to $2M in 8 years

// THREAD

1. “Play long term games with long term people” @naval

Anything that provides instant gratification is probably bad for you and your wealth.

Anything that provides delayed gratification is likely good for you.

There’s no such thing as “get rich quick” or “overnight success”

2. “Focus on the $10K+ questions, not the $5 ones.” @ramit

Spend time focusing on the big decisions like asset allocation & building good credit rather than the $5 Starbucks decisions.

Set an hourly rate for yourself.

Outsource everything that’s under that rate to save time.

3. Invest early and often. Time in the market > timing the market

Consistency is the name of the game.

Automate everything.

Sometimes investing can be boring and that’s a good thing.

Early on, investing more and often is far more important than yield or portfolio performance.

4. Learn to avoid lifestyle inflation.

You really do need less than you think, trust me.

Get out in nature, and you’ll see.

Freedom + time are worth much more than nice cars and clothes.

Keep your lifestyle flat even as you get promoted and make more.

Invest the difference.
ALL , LIFE LESSONS
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