One of my favorite Twitter threads of all time is titled “How to get rich without getting lucky” by the Socrates of Silicon Valley, Naval Ravikant.
The biggest insight for me was the difference between being rich and being wealthy. Being rich is about having a shit ton of money. Meanwhile, wealth is about living lifeon your terms.
I’ve kept this distinction in mind when having conversations with friends about what we should do next in our lives.
Should we quit our jobs? Should we move to a different country? Should we get out of that relationship we know isn’t good for us? Should we start a company? Should we make a drastic career change?
It’s hard to make these decisions without having clear principles. Once I clearly defined my principles, making these types of decisions became much easier.
For me, my guiding principle is to build wealth. Aka, to live life on my terms. If you feel stuck in your current situation, take a few moments to think about what your guiding principles are. Here’s what I came up with for me:
Wealth is waking up without an alarm clock. Wealth is being physically fit enough to play basketball, roll jiu jitsu, swim, bike, box, ski, do crossfit, etc. Wealth is being able to put high-quality food in my body for fuel.
Wealth is about having a family that loves and respects each other. Wealth is about being surrounded by a tight knit community.
Wealth is being able to start my work day when I want. Wealth is working with people that inspire me. Wealth is being in a flow state a few hours each day. Wealth is being able to work from wherever I want. Wealth is about feeling a sense of ownership in my work. Wealth is being home by 6pm to practice hobbies, hangout with friends, have dinner with family, or rest.
Wealth is about being able to take the day off because I want to. Wealth is about being able to take a month off because I want to. Wealth is about having assets that earn while I sleep.
I also found it useful to define anti-principles. Aka, shit that makes your life miserable. Here are a few of mine:
Wealth is not having to be in meetings half my day. Wealth is not managing a massive team of people. Wealth is not having a boss that limits my creativity. Wealth is not having to work on the weekends unless I want to. Wealth is not having to be indoors most of the day. Wealth is not being paid an hourly rate or salary. Wealth is not feeling lonely.
Going through this exercise has helped me articulate a clear vision of the type of life I want to build. With these principles in mind, making decisions becomes a bit easier. Now I evaluate opportunities based on whether they bring me closer to or farther from my ideal lifestyle.
Of course, we can’t always predict how decisions will impact our future. But at least now you’re the one defining what it means to have a successful life. Not your parents. Not your friends. Not that famous person you follow on IG.
Try this exercise out for yourself and let me know how it goes 💥