James Clear

James Clear quotes on wealth

Author of the #1 NYT bestseller Atomic Habits. I write about building better habits.

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1

There are 4 types of wealth: 1. Financial wealth (money) 2. Social wealth (status) 3. Time wealth (freedom) 4. Physical wealth (health) Be wary of jobs that lure you in with 1 and 2, but rob you of 3 and 4.

2

Real wealth is not about money. Real wealth is: -not having to go to meetings -not having to spend time with jerks -not being locked into status games -not feeling like you have to say “yes” -not worrying about others claiming your time and energy Real wealth is about freedom.

3

Wealth is the power to choose. Financial wealth is the power to choose how to spend money. Social wealth is the power to choose who to hang out with. Calendar wealth is the power to choose how to spend your time. Mental wealth is the power to choose your thoughts.

4

You are richer than 93% of people. Not in money, but in time. 108 billion people have lived throughout history. 93% of them are dead. You have what every king and queen, every pharaoh and ruler, every CEO and celebrity of the past would give all their wealth for: Today.

5

What is the real goal? The real goal is not to “beat the market.” The goal is to build wealth. The real goal is not to read more books. The goal is to understand what you read. Don’t let a proxy become the target. Don’t optimize for the wrong outcome.

6

Concentration produces wealth. Diversification protects wealth.

7

If you want to be rich, then be kind. It’s hard to create wealth unless you work well with others, and it’s hard to work well with others if you are unlikable. Even if you can do it without kindness, rich jerks end up poor in friendship. You can buy friends, but not good ones.

8

Wealth is a game that compounds. Health is a game that plateaus (and then declines). As we age, we should spend more time staying fit and less time making money. Increasingly, working to ward off the effects of aging and allowing the effects of compounding take over.

9

An expense gives you back less than what you put into it. A transaction gives you back roughly the same as what you put into it. An investment gives you back more than what you put into it. Many things look like investments, but are actually expenses.

10

The two-sentence guide to wealth and weight loss: Spend less than you earn. Eat less than you burn.

11

The best way to create wealth is to create or own assets that (1) earn money while you sleep and (2) don't require your attention while you are awake.

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