Books to Make Money from the Beach
Financial Freedom Under the Sun: Achieving Wealth Without Worry
Hello everyone,
Summer is approaching, and it's time to relax, enjoy a few beers on a beach in Hawaii, Cuba, or Ibiza. The choice is yours. Ironically, this is the time when we tend to neglect our investments. Many people feel anxious about what the markets might be doing.
If this is you, there's an issue. The problem is that you don't have an asymmetric portfolio and are excessively concentrated or poorly positioned. Sooner or later, a black (or gray) swan event will wipe out all your gains.
Personally, for most summers, I enjoy returns by doing nothing. Just being on the beach, making money, while sipping a beer, makes me happy and gives me peace. It reassures me that all that anxiety isn't necessary to live off your investments.
Naval Ravikant claims that the year he made the most money was the year he did the least. He went around telling everyone he was retired, yet his wealth kept growing.
This is what he calls wealth (and it’s what we should aim for); money is merely a means to achieve wealth.
While the beach is a time to disconnect, there are a few books I'd like to recommend. I love reading about history (not political, but human or economic), the future (generally technology), and, in some cases, personal development focused on mental peace and happiness.
Obviously, everyone has their quirks and vices. These are mine. If they don't align with yours, it might not make sense for you to read the following recommendations.
Here’s a list for your beach reading. They're not ranked by preference but in the order they came to mind.
Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life. This book talks about achieving work-life balance. It presents different examples of people who have succeeded, each with various types of investments.
Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail by Ray Dalio. This classic begins by explaining how the economy works and then discusses the cyclicality of markets. It provides a broad view of how the world functions and highlights our narrow mental framework (similar to "The Fourth Turning," which covers the same topic, but I'd stick with Ray's book).
The Power of Now: This book teaches how to be happy in the present moment, which is the only moment that truly matters. Embracing this concept is the most productive thing you can do. Living on autopilot leads to dying while being awake but with your eyes closed.
Sapiens: A Brief History of Humankind: No one remembers the Mayas; can you name an important one? Do you think people will remember you in a few thousand years? Probably not. This book tells history like you've never heard it before.
The Psychology of Money: A personal finance essential. Applying the principles in this book will yield returns superior to 95% of money managers and give you more personal finance knowledge than 99% of them.
I hope you enjoy these recommendations.
In fact, I'd love for you to reply to this email and share your recommendations with me.
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