The Naval Podcast – Live Below Your Means For Freedom

Check out Naval’s Episode Page & Show Notes

This podcast clip is part of a conversation between Naval Ravikant (@naval) and Babak Nivi (@nivi). Unless otherwise noted, quotes are from Naval.

Key Takeaways

  • “People who are living far below their means enjoy a freedom that people busy upgrading their lifestyle just can’t fathom”
    • Once you start making money, keep living like your old/poorer self
    • When you upgrade your life as you make more money, you just stay in the “wage slave trap”
  • Nassim Taleb has said – “The most dangerous things are heroin and a monthly salary”
    • They’re both highly addictive
  • One reason the very high marginal tax rates for the so-called wealthy are flawed:
    • For many people, they toil/work extremely hard for decades, and then it finally pays off with a massive payday
      • “Then of course Uncle Sam shows up, and basically says, ‘Hey, you know what, you just made a lot of money this year. Therefore, you’re rich. Therefore, you’re evil and you’ve got to hand it all over to us.’ So, it just destroys those kinds of creative risk-taking professions.”

These notes were edited by RoRoPa Editing Services