This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Lesson 2: Choose Your Desires Thoughtfully
Most people today have distinct tastes and interests. Still, they are taught to have those tastes and interests through the media, advertising, and witnessing what other people buy, like, and admire.
Early on, we are taught to buy into a particular lifestyle, but not many people ever ask the question, “Do I even want this?”
Don’t let society dictate what you desire and how you want to live. Be in charge of your life in its entirety.
Many people can afford a particular lifestyle, but many others can’t afford or can barely afford their lifestyle. They are unfailingly strapped for money, seeking their next paycheck, living with mountains of debt, and surrounded by a whole bunch of things without an ounce of genuine contentment or joy.
I encourage you to choose your desires carefully. Sure the newest car is nice, but do you realllllly want it?
1. Do you like everything you see?
2. Do you like everything you see others buy?
3. Do you want to copy what everyone else does for the rest of your life?
4. Do you even like the way that Bentley or Rolls Royce looks?
5. Do you really need hundreds of shoes?
It’s easy to get caught up in materials and things (and please know I know that materials are lovely!), but how many materials will it take for us to be satiated.
My philosophy: Buy the luxuries you strongly desire and will indeed use (many people have so many things that go unused).
Don’t buy just to buy. Don’t buy to impress. Don’t buy to keep up. Don’t buy to fill a void. Don’t buy to make yourself feel better. Don’t buy to look better. Buy with purpose. Buy intentionally.
I call this day and age “The age of the frauds” because most people live a lifestyle they can’t even afford.
I challenge you to live intentionally. Live minimally. Don’t take the rest of your life to realize that the things you buy will never add an ounce of joy and contentment to your life.
Often, it’s the things that are free that are most valuable:
Our relationships
Our minds
Our bodies
Our souls
Our happiness
Our memories
Our experiences
…and experiences tend to be more fulfilling than things.
Be the person that can afford to live the life they are living. Be the person that can buy their actual dream car with cash. Don’t be the person that wants to look the best but is always in debt. Don’t be a fraud.
Lesson 3: Monetize Your Passions
I have three questions for you:
1. What are you adept at?
2. What are your hobbies?
3. What are you passionate about?
Your answers to these questions offer you direct insight into multiple ways you can earn income. The best way to earn an income is by doing something you genuinely enjoy.
Figure out what you are good at early, and get creative with monetizing your interests, hobbies, and passions.
Create multiple streams of income from your passions, so you can be financially independent of working for someone else.
Lesson 4: Don’t Procrastinate
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Don’t procrastinate on your dreams.
Don’t procrastinate on traveling the world.
Don’t procrastinate on your continual evolution.
Don’t procrastinate on things that matter to you.
Don’t procrastinate on the places you want to go.
Don’t procrastinate with your health.
Don’t procrastinate on the people you love.
Don’t procrastinate on the things you want to try.
Don’t wait. Don’t procrastinate.
The second book I wrote at the age of 12 is called “Don’t Wait Until It’s Too Late.” I wrote this book because I had to speak on how many people wait to start their lives. People are always waiting for the perfect time or some unknown time in their minds to do the things they want to do.
What are you waiting for, and why are you waiting? Is the wait necessary? There are only so many tomorrows. Why not make the most of your days now?
Let me tell you something:
Your relationships matter.
Your health matters.
Your dreams matter.
Your life matters.
You matter.
Take care of these things listed above. You don’t need to wait to care for them.
And finally, your dreams are like babies. And just like babies, you must feed and nourish your dreams. Don’t neglect your dreams. Consistently invest in your dreams with your time and energy. It will pay off.
Remember, whatever you choose to neglect…pretty soon, it will matter. The consequences of neglect always show up, eventually.
Lesson 5: Be Money Savvy Early
If you haven’t done the following already, I encourage you to get to it:
1. Open up a ROTH IRA (post-tax retirement account), and invest the max amount each year. This will save you so much time, stress, and financial trouble down the line. It will also make you a millionaire by merely saving and investing money early.
Compound interest; look this term up. It will change your life if you let it.
I can’t stress this enough, but you got to invest now and young!!! If you don’t understand investing, take the time to educate yourself.
2. Create a 1-year emergency fund that can cover your monthly expenses for 12 months; adjust the amount of your emergency fund as your expenses change. Establishing an emergency fund creates the opportunity for you to be financially independent and never strapped to a job.
3. Budget consistently. Always know where your money is going and where your money is not going. Have a 100% transparent relationship with your money, so you never run into surprises (e.g., a negative bank account, fraudulent activity, or wasting money).
4. Skip the credit cards until you’re ready to handle them responsibly.
5. Set up automatic payments for all of your bills. Always pay your bills on time, and never miss payments because you forgot. Set yourself up for success by automating everything you can.
6. Live with your family or roommates – as long as your mental health can stand – to save money and live a cheap lifestyle. People waste thousands of dollars every year when they could easily be living with someone else. You can’t beat free rent or a 50% discount on rent.
7. Choose your state residence wisely. If you can’t afford to live in the “Manhattans” or “San Francisco’s,” then don’t. Wait until you can live there without it costing your entire income. Sure the experience is pleasant, but that’s what vacations are for.
8. Avoid car payments. If you can, avoid having a car payment. Instead of putting that monthly payment on a highly depreciating asset like a car, you can invest that money into your ROTH IRA, stocks, or mutual funds.
9. Avoid overpriced housing. Living in an upscale house is fantastic, but work your way up. You don’t need to start at the top (if you can’t afford it).
Start from a comfortable and respectable spot for your finances, and gradually make your way up to something better as your income increases.
Your housing should cost less than 25% of your net income. Many people recommend that your housing costs not exceed 25% or 30% of your gross income, but I always recommend living off the money you actually bring home (net income).
10. Be a person who always has money. Just because you’re young doesn’t mean you have to be broke. Be a saver, not a spender.
11. Create multiple sources of income. I always say having one income source is like betting your entire life savings on a sick horse. Create a business (more on this later). Always have income sources that you control. Don’t place yourself in a position where all of your income is dependent on someone else.
21. Read books on personal finance; this is one of the best ways to learn about money. Educate yourself constantly about money. Never stop learning about how money works and how money can work for you.
13. INVEST NOW. I have to repeat this because so many young people don’t take this seriously. I started investing at the age of 14, and if I could do it over, I would have opened my retirement, broker, or mutual fund account the day I was conceived.
There is one thing you can never get back: time. Use it wisely, and let compound interest work in your favor. The more time you have on your side, the more powerful compound interest will work to your advantage. Furthermore, the younger you start investing, the less money you will need to invest over time.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.