The Naval Podcast – Live Below Your Means For Freedom

Check out Naval’s Episode Page & Show Notes

This podcast clip is part of an ongoing conversation between Naval Ravikant and Babak Nivi. Unless otherwise noted, quotes are from Naval. For reference, check out Naval’s famous How to Get Rich tweet storm.

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

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