The Almanack of Naval Ravikanth — Summary

I am thrilled to read this book, and thanks to Naval for giving nuggets of wisdom in every chapter. Here, I am listing down my key takeaways from the book, and I highly recommend anyone to read this book. I have decided to gift this book to all my close ones, especially my Gen-Z circle.

Making money and being happy are skills — Naval says that you may think making money will make you happy. However, exploring the things that bring meaning the impact will bring you happiness. If you are faced with a problem with two relatively equal answers, choose the more painful one in the short term. If you can't decide, say no. Remember, good investments are compounded. The best way to be happy is to live in the moment and turn the volume of your monkey mind down.

1. If you are unsure of a decision, the answer is always no - The human brain is not equipped to deal with too many options. If you make wrong decisions, you will waste time and money. If you waste a lot of time on decision-making, then the straight answer could be a NO.
2. A good reputation is an invaluable asset - The relationships you build with people over a long period make life easier & create trust. Compounding is always playing the long game.
3. Money isn't just about capital, markets & investments — it's also about psychology. When comparing yourself with others, you get caught in the relative mindset. That's not a good foundation for building relationships that compound. If you want to make money, you should work with better people than you. Money can't buy happiness or make all of your problems disappear. It only solves money problems.
4. Money can give you freedom — unless you love it for its own sake — Money can't buy you happiness, but it can provide you with freedom. If you love money, there is never enough. Money isn't the root of all evil. It can be used well or poorly, depending on the goal you are achieving.
5. Happiness is a choice to remain in the present moment — The more you live in the present moment, the happier you will be.
6. Regular office employees can also live the new rich lifestyle — By defining your goals and eliminating all interruptions, you will increase your effectiveness.
7. A Quiet mind is a happy mind — Happiness does not exist in the external world. It is a state of your mind. The monkey mind is like a monkey swinging from one branch to another, and all humans are monkey minds that run many thoughts/judgments daily. To sit still for 30 minutes is happiness. To be happy is to sit quietly. If you have a monkey on your desk at work, don't be afraid to turn it off.
8. Discovering what calms your mind, building good habits is key to happiness — Happiness is a skill; the more you do it, the better you get. Some find yoga does the trick, some others mountain climbing. Quiet your monkey mind and build good habits. You will be well on your way to finding happiness.