becoming rich is easy, actually

Summary

In this video, Colin from Yale University shares three habits to become rich: reading books on business and psychology, watching educational podcasts and videos, and learning evergreen skills that match your personality. He recommends specific books and videos to gain financial wisdom and emphasizes the importance of skill-building over investing in stocks or crypto.

Takeaways

• 😀 To become rich, one should aim for freedom from a job, gain status and respect, and have the ability to buy whatever they want without restrictions.
• 📚 Reading books, especially those about business and psychology, is a fast way to accumulate wealth wisdom and mentally prepare for financial success.
• 📚 Recommended books include 'The 4-Hour Work Week' by Tim Ferriss, 'The Psychology of Money' by Morgan Housel, 'The Almanack of Naval Ravikant', '$100 Million Offers' by Alex Rovai, and 'Million Dollar Weekend' by Kegan.
• 📚 Reading one book a month and spending just 10 minutes a day before bed can significantly accelerate the acquisition of wealth wisdom.
• 🎬 Watching educational podcasts and videos on topics like wealth creation, mindset, and business strategies can be beneficial for financial growth.
• 🎬 Specific recommended videos include 'How to Get Rich Without Getting Lucky' by Naval, 'Reprogram Your Mind to Be Rich in 22 Minutes' by Alex Orosi, 'How Billionaires Think' by Sam Ovens, 'The One Person Business Model' by Dan Cole, and 'This Isn't Fun But It Makes Me 2K an Hour' by Alex Becker.
• 📝 Actively taking notes while watching educational content is crucial to retain and apply the knowledge gained.
• 🛠️ Learning skills that are evergreen, future-proof, and match one's personality is essential for building a successful career and wealth.
• 🛠️ Skills should be in high demand, such as design, marketing, programming, or content creation, and should align with one's individual strengths.
• 💼 Specialized knowledge in a particular field can be monetized, even without technical skills, as demonstrated by Rick Rubin's success in music production.
• 💰 Investing in stocks or crypto should be approached with caution and only considered after establishing a solid skill set that generates consistent income.

Q & A

What is the primary message of the video?

The video aims to provide insights on how to become rich by adopting three simple habits: reading books, watching podcasts and videos, and learning skills that are evergreen and future-proof.

Why does the speaker recommend reading books about business and psychology?

Reading books about business and psychology is recommended because it allows individuals to acquire years of wisdom in a short time, which can help them become rich in their mind before becoming rich financially.

What is the significance of reading a book a month as suggested in the video?

Reading a book a month is significant as it allows individuals to gain substantial financial wisdom in a relatively short period, making it easier to understand and apply wealth-building strategies.

Which book is recommended as the first one to read in the video?

The first book recommended in the video is 'The 4-Hour Work Week' by Tim Ferriss, which teaches about lifestyle design and working less while making more money.

What is the role of podcasts and videos in becoming rich according to the video?

Podcasts and videos play a crucial role in becoming rich as they provide actionable advice and insights from successful individuals, which can help viewers reprogram their minds and develop wealth-building habits.

What specific videos are recommended to watch in the video?

The video recommends watching 'How to Get Rich Without Getting Lucky' by Naval, 'Reprogram Your Mind to Be Rich in 22 Minutes' by Alex Orosi, 'How Billionaires Think' by Sam Ovens, 'The One Person Business Model' by Dan Cole, and 'This Isn't Fun But It Makes Me 2K an Hour' by Alex Becker.

Why is it important to take notes while watching these videos and listening to podcasts?

Taking notes is important because it helps in retaining the information and ideas shared in the content, making it easier to apply them in real-life situations and avoid forgetting them.

What skills are considered 'evergreen' and 'future-proof' in the video?

Skills that are evergreen and future-proof are those that are always in demand and are unlikely to become obsolete, such as programming, software development, writing, video editing, and design.

Why does the speaker advise against investing in stocks or crypto without having a solid skill that makes money?

The speaker advises against investing in stocks or crypto without a solid skill because it's risky and unlikely to result in significant wealth without substantial capital. Focusing on learning high-income skills is a more reliable path to wealth.

What is the speaker's final advice on becoming rich?

The speaker's final advice is to focus on learning skills that match one's personality and are in high demand, and to combine these skills with one's individual edge to become powerful and wealthy.