Today I turn 25.
I have built an investment portfolio of over $250,000.
And have made multiple 6-figures on the internet.
Here are 25 lessons I've learned about money:
I have built an investment portfolio of over $250,000.
And have made multiple 6-figures on the internet.
Here are 25 lessons I've learned about money:
1. Just start
Compounding doesn’t work with $0.
Whether it’s $5, $50, $500 or $5,000, open that account & just start.
Your money is not working for you in a savings account.
Compounding doesn’t work with $0.
Whether it’s $5, $50, $500 or $5,000, open that account & just start.
Your money is not working for you in a savings account.
2. It’s not what you make, it’s what you keep
Someone making $100,000 but invests $0/month is way behind someone making $50,000 and investing $400/month.
You must invest a portion of your income to build wealth.
It’s a requirement.
Someone making $100,000 but invests $0/month is way behind someone making $50,000 and investing $400/month.
You must invest a portion of your income to build wealth.
It’s a requirement.
3. 99% of people don’t care
Buying stuff because you want to impress other people is a sure way to unhappiness & wasting money.
99% of people could care less what kind of house you have, what kind of car you have etc.
If they judge you, they aren’t a good friend.
Buying stuff because you want to impress other people is a sure way to unhappiness & wasting money.
99% of people could care less what kind of house you have, what kind of car you have etc.
If they judge you, they aren’t a good friend.
4. Assets first
Assets will appreciate over time.
Liabilities will depreciate over time.
Before you buy liabilities, buy assets.
Use those assets to pay for your liabilities.
That’s the hack.
Assets will appreciate over time.
Liabilities will depreciate over time.
Before you buy liabilities, buy assets.
Use those assets to pay for your liabilities.
That’s the hack.
5. Surround yourself with the right people
The saying “you are the sum of your 5 closest friends” is 100% true.
Hang around people who party & drink all the time? Guess what you’ll do.
Hang around people who talk about investing & building businesses? Guess what you’ll do.
The saying “you are the sum of your 5 closest friends” is 100% true.
Hang around people who party & drink all the time? Guess what you’ll do.
Hang around people who talk about investing & building businesses? Guess what you’ll do.
6. Something is better than nothing
Investing $100 is better than investing $0.
Making an extra $200/mo is better than making an extra $0/mo.
Retiring with $500,000 is better than retiring with $0.
It doesn’t have to be either a home run or a strikeout.
Investing $100 is better than investing $0.
Making an extra $200/mo is better than making an extra $0/mo.
Retiring with $500,000 is better than retiring with $0.
It doesn’t have to be either a home run or a strikeout.
7. Pick up a side hustle
An extra $10/day adds up.
An extra $50/day adds up.
Building an extra stream of income allows you more money to invest.
More money to invest = reaching your financial goals even faster!
An extra $10/day adds up.
An extra $50/day adds up.
Building an extra stream of income allows you more money to invest.
More money to invest = reaching your financial goals even faster!
8. Delay gratification
I really want a Tesla. But I know that kind of purchase will set me back on my goals.
You have to be able to not give up what you want most for what you want now.
I really want a Tesla. But I know that kind of purchase will set me back on my goals.
You have to be able to not give up what you want most for what you want now.
9. Build a solid foundation
I’ve decided my foundation will be built on $VOO, which is the S&P 500.
A lower risk equity investment that will slowly grow my wealth over time.
Just like a foundation is the strongest part of a house, build a strong foundation in your portfolio.
I’ve decided my foundation will be built on $VOO, which is the S&P 500.
A lower risk equity investment that will slowly grow my wealth over time.
Just like a foundation is the strongest part of a house, build a strong foundation in your portfolio.
10. It’s never too late to start
I know I’m 25 & it’s easy to say “I’m 35 & it’s too late”.
IT’S NOT!
People have started in their 50s & done well for themselves.
Open that portfolio today. Deposit that $$$ today.
It’s never too late.
Just start!
I know I’m 25 & it’s easy to say “I’m 35 & it’s too late”.
IT’S NOT!
People have started in their 50s & done well for themselves.
Open that portfolio today. Deposit that $$$ today.
It’s never too late.
Just start!
Real quick. For my BDAY, all I want is for you to join my 100% free weekly newsletter. I write about:
+ my weekly buys.
+ investing lessons.
+ my $250k at 24 story.
+ insights on the market.
+ exclusive content not on Twitter.
Join 2,945+ other readers: diweekly.beehiiv.com
+ my weekly buys.
+ investing lessons.
+ my $250k at 24 story.
+ insights on the market.
+ exclusive content not on Twitter.
Join 2,945+ other readers: diweekly.beehiiv.com
11. Zoom out
Especially now. The markets have been down in the past year.
If you have a long time horizon, don’t be scared of the market dips… welcome them.
They are a buying opportunity to get your holdings on sale.
Especially now. The markets have been down in the past year.
If you have a long time horizon, don’t be scared of the market dips… welcome them.
They are a buying opportunity to get your holdings on sale.
12. High income ≠Wealth
Just because someone makes a lot of money doesn’t mean they are wealthy.
If they spend everything they make, they need the next month’s income to stay afloat.
And just because you have a lower income, it does not mean you can’t built wealth.
Just because someone makes a lot of money doesn’t mean they are wealthy.
If they spend everything they make, they need the next month’s income to stay afloat.
And just because you have a lower income, it does not mean you can’t built wealth.
13. Increase your income
The secret to my high net worth at 25 is from my increase in income.
Especially when you are starting out, the majority of your wealth is from your contributions, not from compounding.
To hit high numbers fast, it will come from large contributions.
The secret to my high net worth at 25 is from my increase in income.
Especially when you are starting out, the majority of your wealth is from your contributions, not from compounding.
To hit high numbers fast, it will come from large contributions.
14. Add to your streams of income
Caveat, having 10 streams of income paying $100 each is no better than having 5 streams of income paying $200 each.
But, relying on just 1 stream of income is too close to relying on 0 streams of income.
Again, an extra $300/mo adds up.
Caveat, having 10 streams of income paying $100 each is no better than having 5 streams of income paying $200 each.
But, relying on just 1 stream of income is too close to relying on 0 streams of income.
Again, an extra $300/mo adds up.
15. Invest in what you know
When I first started out investing, I bought stocks I had no idea about.
I lost most of that $$$.
Educate yourself on the investments you are making.
DYOR is thrown around a lot… but seriously, DO YOUR OWN RESEARCH.
When I first started out investing, I bought stocks I had no idea about.
I lost most of that $$$.
Educate yourself on the investments you are making.
DYOR is thrown around a lot… but seriously, DO YOUR OWN RESEARCH.
16. You are in control of your money
We can’t control the markets. They go up, they go down.
But we can control what we do with our money day to day.
We control if we spend $25 on Uber eats every night.
We control if we spend $750/mo on a car over a $400/mo car.
We can’t control the markets. They go up, they go down.
But we can control what we do with our money day to day.
We control if we spend $25 on Uber eats every night.
We control if we spend $750/mo on a car over a $400/mo car.
17. Stay away from bad debt
I used to think all debt was bad, but I was wrong.
Bad debt = debt on liabilities, high interest debt.
A car loan = bad debt
A rental property loan = not bad debt
Bad debt will hinder the rate at which your wealth grows.
I used to think all debt was bad, but I was wrong.
Bad debt = debt on liabilities, high interest debt.
A car loan = bad debt
A rental property loan = not bad debt
Bad debt will hinder the rate at which your wealth grows.
18. Cash flow > Net worth
My $250,000+ net worth can’t pay my bills forever.
But increasing my monthly cash flow can.
I was able to leave my 9-5 because I increased my cash flow.
Use your cash flow to fund your net worth.
My $250,000+ net worth can’t pay my bills forever.
But increasing my monthly cash flow can.
I was able to leave my 9-5 because I increased my cash flow.
Use your cash flow to fund your net worth.
19. Take calculated risks
I’ve built a solid foundation in the stock market.
Now I’m taking calculated risks with a small % of my money.
Once you mastered the layup, it’s okay to take a couple 3-pointers.
Foundation first, then calculated risks.
I’ve built a solid foundation in the stock market.
Now I’m taking calculated risks with a small % of my money.
Once you mastered the layup, it’s okay to take a couple 3-pointers.
Foundation first, then calculated risks.
20. Decrease expenses
You can only cut your expenses so far.
BUT
That doesn’t mean get the $750/mo car payment that’s 35% of your monthly income.
Make smart financial decisions.
You can only cut your expenses so far.
BUT
That doesn’t mean get the $750/mo car payment that’s 35% of your monthly income.
Make smart financial decisions.
21. Educate & Execute
I’ve read 100+ books on investing, business, self growth & mindset.
I took the time to educate myself about business, learning from the most successful people.
Then, I executed on it.
Educate yourself first, then execute on that education!
I’ve read 100+ books on investing, business, self growth & mindset.
I took the time to educate myself about business, learning from the most successful people.
Then, I executed on it.
Educate yourself first, then execute on that education!
22. Budget
This one always gets me because having a budget is just 5% of the work.
Sticking to your budget is the other 95%.
Anyone can make a budget, but not everyone sticks to it.
Stick to your budget so you can hit all your financial goals you have set.
This one always gets me because having a budget is just 5% of the work.
Sticking to your budget is the other 95%.
Anyone can make a budget, but not everyone sticks to it.
Stick to your budget so you can hit all your financial goals you have set.
23. Remove emotions from investing
It is REALLY easy to get mad, sad, pissed when the market is down.
But emotions will cause you to make decisions that are not smart.
Investing has to be emotionless.
If you can remove emotions from it, you can be a great investor.
It is REALLY easy to get mad, sad, pissed when the market is down.
But emotions will cause you to make decisions that are not smart.
Investing has to be emotionless.
If you can remove emotions from it, you can be a great investor.
24. Invest in yourself
There is not greater return on investment than investing in your knowledge & skills.
Don't let high school or college be the last time you learn something new.
Invest in your health. Invest in your knowledge. Invest in YOU.
There is not greater return on investment than investing in your knowledge & skills.
Don't let high school or college be the last time you learn something new.
Invest in your health. Invest in your knowledge. Invest in YOU.
25. Don’t forget to enjoy the present
The wealth building journey takes time.
Don’t give up everything today for the future because you’ll be miserable in your day to day.
You can build wealth while also enjoying the present.
All we are guaranteed is the present.
Enjoy it.
The wealth building journey takes time.
Don’t give up everything today for the future because you’ll be miserable in your day to day.
You can build wealth while also enjoying the present.
All we are guaranteed is the present.
Enjoy it.
If you are reading this & you wished me a happy birthday, THANK YOU 🙏
I won’t be able to say thank you to everyone personally, so I wanted to say it here.
I’m very grateful for this community.
We all share one goal:
Financial freedom
I appreciate all of you!
I won’t be able to say thank you to everyone personally, so I wanted to say it here.
I’m very grateful for this community.
We all share one goal:
Financial freedom
I appreciate all of you!
Thank you again for reading this thread!
Even though my hairline screams I am 40, I really am only 25!
Appreciate everyone & thank you for being along this journey!
đź’ś
- @DecadeInvestor
Even though my hairline screams I am 40, I really am only 25!
Appreciate everyone & thank you for being along this journey!
đź’ś
- @DecadeInvestor
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