My takeaways from the Sovereign Individual

I recently read this book and is what I learnt:

• The recent period of middle class and less inequality was a outlier and not the norm. Throughout history you will you find examples where there was a wealth disparity between peoples. This is in effect of compounding your habits (or wealth) where in those productive people kept on producing. Causing inequality of outcomes
• the internet will break down abritrage opportunities. No longer will your job be priced to be done in the country you live in if someone else from a lower cost location can do it. Note that this is also includes your fellow countrymen living in those lower cost locations. Those lower cost locations are no longer the deprived locations as seen in ages past.
• the internet forces you to compete with everyone, and also gives you opportunity to network with anyone. Harder to get in, but when you do – there is alot more money to be made
• we live with the tyranny of location – the internet will allow you to be break free from that and thus the government will act more like businesses nowadays, trying to entice the best customers

After understanding the above things, here is how to put it into practice

• Build that second and third income on the internet
• Put a discount factor on buying properties that have no location advantage. If we break free from the tyranny of location than it will be of fact that the old idea of living next to the city is not as advantageous – you can work from next to the beach, on a farm, in a low cost location
• Look for places that are advantageous. e.g. close to nature, next to airport, good community