Ask HN: What is the best effective possesion one can have now? | Hacker News Reader

Ask HN: What is the best effective possesion one can have now?

24 pointsVenkatesh1023 comments

It can be of asset, liquid funds, objects, stocks, IPs, Knowledge.

Mindset. Imagine you are made destitute and thrown on the street. Even without connections, a former billionare will rise faster and easier than someone used to poverty. Knowledge is secondary and requires that same mindset to make use of. Of course money alone doesn't grant the mindset, but those with it seem to rub off and consider things differently. Such as Creating Wealth rather than Looking for a Job or handout.

To your point (kinda), about knowledge. I have a phrase I like to use:

Understanding Is Power.

I believe it aligns better with mindset. Knowledge is collecting money. Understanding (or mindset if you will) is investing that money to achieve interest. The key is, interest , as we know, compounds.

> Even without connections, a former billionare will rise faster and easier than someone used to poverty

That's nonsense.

If a billionaire ended up destitute and anonymous without their connections, living in the street, they'd lack a lot of the knowledge about survival that many poor people have.

The only thing going for them might be if they are manipulative psychopaths and can get other people to do things for them. But I don't don't see how that is any better morally than getting a ”handout”.

Seriously, if you are living on the street with only the clothes on your back, how are you going to "create wealth"?

Agreed. I saw a video once were a Maasia tribes person was sucking water from the ground without touching the water, so not to infect the water supply. I'd like to see how a few billionaires fair at that level of survival. One task you can't get others to do for you :-)

http://www.paulgraham.com/wealth.html

Health. And it's increasingly harder and harder.

Physical AND mental health. If one of those goes, the other will start to fail.

> A Healthy Person Has 1,000 Wishes, a Sick Person Has Only One

Knowledge of how to overcome unnecessary worry.

...and are you willing to share that knowledge?

For me, using the Headspace app to learn mindfulness/meditation helped a lot.

https://www.headspace.com/

YMMV.

(There are probably good books that teaches the same things, but I’m afraid I have no specific titles to recommend.)

Exactly. Peace of mind. Now and ever.

IMHO, discounting health, a fully paid home where you can live.

This. It doesn’t even need to be a big house. An apartment/condo that you own can be just fine (depending on family situation etc).

Effective, secure Shelter that you own and control.

A towel.

Know the odds, this should be a starting point https://en.wikipedia.org/wiki/Pareto_principle You will find it applies to most life experiences.

Well, first you probably need to state what your goal is…?

An array of solar panels large enough to charge your home and electric car as well as a battery backup.

health. everything else comes secondary.

Access to a decent healthcare coverage.

Health.

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