4 Mistakes I Made in My 20s

Summary

In this reflective video, Thomas shares four major regrets from his twenties, focusing on lessons learned through personal mistakes. These include poor investment choices, neglecting self-care through breaks and vacations, buying a suburban home that doesn't align with his lifestyle, and failing to stick to a few core commitments to master skills. By opening up about these regrets, he aims to help viewers make better decisions in their own lives, while emphasizing the importance of accountability, balance, and following one's values.

Takeaways

• 😀 Regret 1: The speaker reflects on a bad investment decision, specifically selling Nintendo stock to buy Tesla at a high price, violating his own investment principles of avoiding market timing and being greedy.
• 😀 Regret 2: The speaker wishes he had taken more vacations and breaks, recognizing that even though he had the ability to, he prioritized work over relaxation, which negatively impacted his personal well-being.
• 😀 Regret 3: The speaker regrets buying a house in the suburbs, as it doesn't meet his preference for walkability, which was more important to him than space or a larger house.
• 😀 Regret 4: The speaker reflects on not sticking with certain hobbies and skills long enough to become truly proficient, particularly with music, and expresses a desire to have committed more to it.
• 😀 📈 The speaker emphasizes the importance of consistent, boring investment strategies like low-cost index funds and dollar-cost averaging, which have proven effective for long-term success.
• 😀 🏠 The speaker encourages prospective homebuyers to consider the true costs of homeownership, including property taxes and maintenance, and to prioritize what truly matters to their lifestyle (e.g., walkability).
• 😀 🎶 The speaker admits to being easily distracted by new interests and hobbies, often abandoning old ones, and suggests setting up systems to stay committed to long-term goals like music production.
• 😀 💼 The speaker points out the negative effects of procrastination, particularly on social media, and how small distractions can add up to wasted time that could have been spent on real breaks.
• 😀 📅 The speaker shares how using tools like Beeminder and deadlines from sponsors helped him stay accountable to his YouTube schedule and avoid falling into perfectionism or procrastination.
• 😀 ☕ The speaker promotes Trade Coffee, a subscription service that curates coffee based on individual preferences, offering a personalized experience while supporting independent roasters.

Q & A

What is the main purpose of the video?

The main purpose of the video is for the creator to share four of his biggest regrets from his twenties, reflect on the lessons learned from those regrets, and offer advice to viewers so they can avoid making similar mistakes.

What was the creator's first big regret from his twenties?

The first regret was a bad investment decision involving selling Nintendo stock to buy Tesla at a high price. He violated his own investing principles of avoiding market timing and chasing trends.

What strategy did the creator use for investing before his regret?

The creator followed a long-term, low-cost investing strategy by putting most of his capital into index funds, and investing regularly through dollar-cost averaging. He also allocated a small percentage of his capital to individual stocks that he believed in, like Nintendo.

Why did the creator regret buying Tesla stock?

He regretted buying Tesla stock because he violated his own investing principles, including not trying to time the market and not being swayed by the 'hot hand fallacy,' where people believe that a rising trend will continue indefinitely.

What is the creator’s new investment philosophy going forward?

The creator plans to stick to his tried-and-true principles: continue investing in low-cost index funds for passive investments, and only buy individual stocks when there is a solid reason, such as belief in the company’s fundamentals, not based on short-term hype.

What is the second big regret shared in the video?

The second regret is failing to take more breaks and vacations during the past decade. Despite having the ability to take time off, the creator often prioritized work over personal time, which led to burnout and missed opportunities for relaxation.

How did the creator explain the importance of taking breaks?

The creator emphasized that taking breaks and avoiding burnout is essential for long-term productivity. He highlighted how procrastination, such as spending time on social media, ends up wasting just as much time as a real break would have, but without the restorative benefits.

What was the third regret the creator mentioned?

The third regret was buying a house in the suburbs. While the creator was excited about the space and customization options in the house, he later regretted not prioritizing walkability, something that had been important to him in the past.

Why does the creator value walkability in a neighborhood?

The creator believes that walkability is crucial for happiness and for making a place truly lovable. He shared how, after moving to a suburban neighborhood, he missed the ability to easily walk to places like coffee shops or grocery stores, which was something he valued in his previous lifestyle.

What is the creator's fourth regret from his twenties?

The fourth regret was not sticking to a small number of commitments to become truly skilled at them. The creator mentioned several hobbies he started but eventually abandoned, like training for Ninja Warrior and learning music, and reflected on how focusing on fewer commitments could have led to greater mastery in some areas.

How does the creator plan to improve his approach to hobbies and skills in the future?

The creator plans to implement systems of accountability, similar to the ones he used for YouTube, to help him stay committed to his hobbies. He also wants to prioritize pushing through difficult phases in learning (the 'dip') to achieve mastery, particularly in music, which he cares deeply about.

What advice does the creator give to viewers about making decisions in life?

The creator advises viewers to learn from their mistakes, own their regrets, and use the lessons to make better decisions in the future. He encourages viewers to evaluate their values carefully and to take action that aligns with those values.

How does the creator integrate coffee into his life, and how does this tie into the video’s sponsor?

The creator integrates coffee into his daily routine and shares his favorite coffee brand, Trade Coffee, which matches users with coffee based on their preferences. He mentions that the coffee, specifically the Bowery roast, was something he enjoyed while filming the video, and promotes Trade Coffee as the sponsor for the video.