Naval

There Are No Get Rich Quick Schemes

40 snips
May 23, 2019
Explore the harsh reality behind get rich quick schemes—most just enrich the promoters at your expense. Delve into the credibility loss that ads can bring to valuable insights. Discover the uncomfortable truth that every founder often must deceive their employees. Learn why anyone truly qualified to give wealth advice should have made their fortunes elsewhere, emphasizing the importance of authentic paths to success.
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INSIGHT

No Get-Rich-Quick Schemes

  • Get-rich-quick schemes are often scams, benefiting the seller, not the buyer.
  • True wealth creation takes time and effort, not shortcuts.
INSIGHT

Credibility in Wealth Advice

  • Credibility is crucial when giving financial advice.
  • Selling get-rich-quick schemes undermines credibility.
ANECDOTE

Credible Examples

  • Naval cites Felix Dennis, Bob Parsons, and Andrew Carnegie as credible wealth advisors.
  • They earned their wealth elsewhere, adding to their credibility.
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