I turned 31 last month.
10 years ago when I was 21, I had less than $1,000 in my bank.
If you told me I would be financially free before 30, I wouldn't believe you.
But it's not all about $$.
Here's 18 lessons I've learnt about habits, happiness, life and death:
10 years ago when I was 21, I had less than $1,000 in my bank.
If you told me I would be financially free before 30, I wouldn't believe you.
But it's not all about $$.
Here's 18 lessons I've learnt about habits, happiness, life and death:
1. Wake up early
I learnt this 4 years ago after listening to Jocko Willink.
I’m not a morning person. Until now I'm still not.
But I force myself to rise early most days.
Knowing you’ve accomplished more than others by the morning is a good feeling.
It sets you up right.
I learnt this 4 years ago after listening to Jocko Willink.
I’m not a morning person. Until now I'm still not.
But I force myself to rise early most days.
Knowing you’ve accomplished more than others by the morning is a good feeling.
It sets you up right.
2. Lift weights
Everyone in a competitive field should engage in some form of intense physical activity.
For me I lift weights 5-6x a week. But it could be any sport.
It teaches you valuable lessons like:
- showing up consistently
- putting in the reps
- pushing past boredom
Everyone in a competitive field should engage in some form of intense physical activity.
For me I lift weights 5-6x a week. But it could be any sport.
It teaches you valuable lessons like:
- showing up consistently
- putting in the reps
- pushing past boredom
3. Have dreams
I recall watching Tony Robbins when I was 16 years old, and that left an impression on me.
Seeing him speak and inspire others from stage, that’s what I wanted to do.
It gave my life a new purpose beyond video games...
I recall watching Tony Robbins when I was 16 years old, and that left an impression on me.
Seeing him speak and inspire others from stage, that’s what I wanted to do.
It gave my life a new purpose beyond video games...
I told all my friends about it.
Anyone who would listen, I publicly declared it.
Probably annoyed many of them.
Looking back, I'm blessed to have found what I wanted to do at an early age.
It gave me clarity in choosing my career, and where I chose to invest my time.
Anyone who would listen, I publicly declared it.
Probably annoyed many of them.
Looking back, I'm blessed to have found what I wanted to do at an early age.
It gave me clarity in choosing my career, and where I chose to invest my time.
4. Craftsman mindset
Friend of mine recommend me to watch “Jiro Dreams of Sushi” 8 years ago.
I’ve watched it many more times since.
That movie changed my worldview.
It taught me how to think like a craftsman in everything I wanted to do.
Friend of mine recommend me to watch “Jiro Dreams of Sushi” 8 years ago.
I’ve watched it many more times since.
That movie changed my worldview.
It taught me how to think like a craftsman in everything I wanted to do.
Seeing how the apprentice in Jiro’s restuarant had to practice for 10 years before he was allowed to cook the tamago egg...
That was touching.
Today, in almost anything I want to master, I see myself as a craftsman.
It’s helped me find joy in the process.
That was touching.
Today, in almost anything I want to master, I see myself as a craftsman.
It’s helped me find joy in the process.
5. Sickness, old age, death is a very real thing.
We all feel invincible in our bodies now. At least I do.
Seeing my grandma in her last days made me realize nobody has a lease on life.
Seeing the other old folks at the hospital when I was visiting her felt scary.
We all feel invincible in our bodies now. At least I do.
Seeing my grandma in her last days made me realize nobody has a lease on life.
Seeing the other old folks at the hospital when I was visiting her felt scary.
But it’s inevitable the day will come.
Maybe even earlier. I don't know?
Acknowledge our mortality and how powerless we really are.
That said, I really miss my grandma.
Holding her wrinkled hands and seeing her laugh.
Wouldn't be where I am today if not for her love.
Maybe even earlier. I don't know?
Acknowledge our mortality and how powerless we really are.
That said, I really miss my grandma.
Holding her wrinkled hands and seeing her laugh.
Wouldn't be where I am today if not for her love.
6. Acknowledge the role of luck.
Many of my accomplishments are not solely based on my effort.
They’re simply a result of being in the right place at the right time.
I like to keep that in mind whenever I feel too good about myself or people shower me with too much praise.
Many of my accomplishments are not solely based on my effort.
They’re simply a result of being in the right place at the right time.
I like to keep that in mind whenever I feel too good about myself or people shower me with too much praise.
7. Impermanance and the fleeting nature of life
A wise buddhist master once told me:
“The person who hates you today could become your best friend tomorrow.
The person who sings your praises today could also stab you in the back tomorrow”.
A wise buddhist master once told me:
“The person who hates you today could become your best friend tomorrow.
The person who sings your praises today could also stab you in the back tomorrow”.
Never ever let sweet words get to your head and sedate you.
Nor hold hatred for too long in your heart.
The day restarts tomorrow, and people forget really quickly.
Live in the present.
Nor hold hatred for too long in your heart.
The day restarts tomorrow, and people forget really quickly.
Live in the present.
8. Know what truly makes you happy
Some years ago when I amassed my first 6 figures in net worth, I started buying high end watches.
It felt good looking at the bling, and spending on myself.
But everywhere I went, I felt scared of crowded places.
Some years ago when I amassed my first 6 figures in net worth, I started buying high end watches.
It felt good looking at the bling, and spending on myself.
But everywhere I went, I felt scared of crowded places.
I kept my hands in my pocket all the time, afraid of people hitting the watch.
I asked myself:
“do I own the watch? or does the watch own me?”
I sold off all the watches just 2 months later. I felt light again.
The happiest part was the day I bought it, and the day I sold it.
I asked myself:
“do I own the watch? or does the watch own me?”
I sold off all the watches just 2 months later. I felt light again.
The happiest part was the day I bought it, and the day I sold it.
9. Know whether you’re a generalist or specialist
I’m a specialist.
So I played the game to my advantage.
I know many smart polymaths in my life who could excel wherever you put them in.
Their game will be different.
I’m a specialist.
So I played the game to my advantage.
I know many smart polymaths in my life who could excel wherever you put them in.
Their game will be different.
Knowing I was only good at a small circle of skills, I would adopt a craftsman mentality to get good at them.
But I also combined these skills. That's the secret.
The key to creating value is not to be the best at what you do.
It’s to be the only person who can do what you do
But I also combined these skills. That's the secret.
The key to creating value is not to be the best at what you do.
It’s to be the only person who can do what you do
10. Know the difference between income and wealth
Income is what you trade your time for. We all have to do that in the beginning.
But it’s wealth that truly buys your freedom.
Wealth is the thing that makes you money when you sleep.
When you are not working.
Income is what you trade your time for. We all have to do that in the beginning.
But it’s wealth that truly buys your freedom.
Wealth is the thing that makes you money when you sleep.
When you are not working.
There are many folks with high incomes that I know, but with little wealth.
They’re always busy.
There are also friends I know with zero incomes, but huge wealth.
They're much more relaxed and happy it seems.
They’re always busy.
There are also friends I know with zero incomes, but huge wealth.
They're much more relaxed and happy it seems.
11. You must be an OWNER
Whether it’s property, business, or stocks of companies you understand well…
You must own equity.
You must be an owner of something valuable.
Otherwise you will always be working.
You will never be able to dislodge time from money.
Whether it’s property, business, or stocks of companies you understand well…
You must own equity.
You must be an owner of something valuable.
Otherwise you will always be working.
You will never be able to dislodge time from money.
Even the highly paid brain surgeon is prisoner to this.
Because when he’s sleeping or on holiday, he doesn’t earn.
When he’s retired, he doesnt make anything.
Once he stops working, he stops earning.
Because when he’s sleeping or on holiday, he doesn’t earn.
When he’s retired, he doesnt make anything.
Once he stops working, he stops earning.
Learn to focus more on your personal balance sheet, instead of your income statement.
When I first learnt this, I stopped chasing income growth.
Instead, I started asking myself every quarter:
“Am I owning more assets?”.
That became my top focus.
When I first learnt this, I stopped chasing income growth.
Instead, I started asking myself every quarter:
“Am I owning more assets?”.
That became my top focus.
12. Wealth is what you do NOT see
It’s not the cars or watches or yachts or expensive holidays.
True wealth is the ability to walk away from a high paying job without fear.
It’s not the cars or watches or yachts or expensive holidays.
True wealth is the ability to walk away from a high paying job without fear.
It’s the ability to feel secure even if you are hit with expensive medical bills.
It’s the ability to say no to things that compromise your values.
True wealth is invisible.
Which is also why so many people never attain it because they’re focused only on what they can see.
It’s the ability to say no to things that compromise your values.
True wealth is invisible.
Which is also why so many people never attain it because they’re focused only on what they can see.
13. Teach
The person who learns the most in the classroom is the teacher.
Being a speaker and trainer has taught me more about a subject than I ever expected.
Knowing you need to explain something publicly, it pushes you to understand a topic well.
The person who learns the most in the classroom is the teacher.
Being a speaker and trainer has taught me more about a subject than I ever expected.
Knowing you need to explain something publicly, it pushes you to understand a topic well.
And taking a complex concept and breaking it down to easy terms requires you to deeply understand the fundamentals.
So if you want to learn something fast, teach it to someone else.
It will surface the gaps in your understanding without mercy.
So if you want to learn something fast, teach it to someone else.
It will surface the gaps in your understanding without mercy.
14. You can always tells someone to “go to hell” tomorrow
I’ve said my generous share of hurtful things I can never take back.
While I’ve apologized and felt regret, the trust broken with someone else can never be restored.
Strong emotions, whether good or bad, can be harmful.
I’ve said my generous share of hurtful things I can never take back.
While I’ve apologized and felt regret, the trust broken with someone else can never be restored.
Strong emotions, whether good or bad, can be harmful.
The key is to remain composed, and delay what you want to say.
And after 24 hours if I still feel it, then I say it.
This is still something I am terrible at.
Working on it.
And after 24 hours if I still feel it, then I say it.
This is still something I am terrible at.
Working on it.
15. Read, a lot
This is actually my big weakness.
I’m always plugged in. Either reading, listening, or watching something.
But over the years, I’ve noticed it’s been more beneficial than harmful for me.
This is actually my big weakness.
I’m always plugged in. Either reading, listening, or watching something.
But over the years, I’ve noticed it’s been more beneficial than harmful for me.
Reading has opened up so many new ways of thinking for me.
Almost any problem you face in your life now, someone else out there has been through.
You just need to find that and expose yourself to their thinking patterns.
Almost any problem you face in your life now, someone else out there has been through.
You just need to find that and expose yourself to their thinking patterns.
16. Learn to speak in public
You become more confident when you can speak well.
But when you can speak in public and engage a crowd, you develop thick skin.
This is useful in any area of life.
You become more confident when you can speak well.
But when you can speak in public and engage a crowd, you develop thick skin.
This is useful in any area of life.
You become used to rejection and negative feedback
You learn to be vulnerable, and care less about others’ opinions.
This can be a liberating feeling.
You gain a quiet type of confidence.
This was me doing my first public seminar at 23 years old.
You learn to be vulnerable, and care less about others’ opinions.
This can be a liberating feeling.
You gain a quiet type of confidence.
This was me doing my first public seminar at 23 years old.
17. Learn to write to sell
Specifically, this skill is called copywriting.
I was fortunate to learn this when I was in my early 20s, and spent time to develop this craft.
When your written words can convince and persuade, you will always find a way to create income.
Specifically, this skill is called copywriting.
I was fortunate to learn this when I was in my early 20s, and spent time to develop this craft.
When your written words can convince and persuade, you will always find a way to create income.
This also taught me how to get my ideas out on paper first before I edit.
I learnt that the best writers write once and edit 9 times.
The magic of writing comes out in the editing, not the writing.
I learnt that the best writers write once and edit 9 times.
The magic of writing comes out in the editing, not the writing.
18. Lastly, cover your downside
I maxed out all the insurance policies for myself and my loved ones, before I started investing my money heavily in the market.
This is crucial.
You can't make bold bets when you’re fearful and worried.
I maxed out all the insurance policies for myself and my loved ones, before I started investing my money heavily in the market.
This is crucial.
You can't make bold bets when you’re fearful and worried.
And life is all a series of bets.
Whether small or big, you are always making bets to better your position in life.
If you’re tied down worrying about bills and accidents, you lack the mental energy to think clearly.
Plus, a pessimistic mind cannot see possibilities.
Whether small or big, you are always making bets to better your position in life.
If you’re tied down worrying about bills and accidents, you lack the mental energy to think clearly.
Plus, a pessimistic mind cannot see possibilities.
If you found this helpful, then follow me at @heymaxkoh
I share about how I attained financial freedom before age 30...
By investing in great businesses.
I share about how I attained financial freedom before age 30...
By investing in great businesses.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
