The great Charlie Munger said that to figure out a problem, always invert. What does that mean? Well it means that you should not only look at how to solve the problem, but also how to get into it. For instance, what makes a good student? What makes a bad student? It's like checking your algebra answer by plugging in your solution to the original problem.
How do you get rich? How do people become poor? You'll probably find that what you do for both are the opposites. But both can give you insight into the ultimate goal of figuring it out. And yet, all you see are books about how to get rich. Where are all the books about how people are poor?
The same thing with fat people. Look at fat people and look at thin people. What are the differences in their diet and exercise habits. You'll notice opposites and trends.
Outliers: you will also notice outliers. There are the rich people who inherited it or who won the lottery. They're interesting to study, but they don't help you much. Just like the damn skinny people who can eat whatever they want and not gain weight, but always seem to have those chiseled abs.
Here's the thing about outliers though. They shouldn't be ignored, but they also shouldn't be followed. The reason being because they rarely last. Metabolism and poor spending habits catch up to them both. Instead focus on the long-term winners. The people that grew their wealth over decades and the also the ones who have been stuck in a cycle of poverty for generations. You'll see stark contrasts when it comes to the following: education, spending habits, self-enrichment, multiples streams of income, the type of income, knowledge of taxes, reading habits, bad/good habits, etc.
Do what the rich do, and do the opposite of what the poor do. You may not get where you want to be twice as fast, but you'll definitely get there faster.
RSS Feed