I became a millionaire at 26. Here's 13 lessons for anyone in their 20s.

Summary

The speaker shares invaluable life lessons from their 20s, emphasizing the importance of building intellectual, social, and human capital before focusing on financial wealth. They advise young adults to invest in self-improvement, cultivate a strong network, and leverage their skills to attract opportunities. The speaker also encourages taking risks, pursuing passions, and understanding the value of political awareness. They stress the significance of maintaining friendships, learning from family, and recognizing that values evolve with time. With candor, they share personal experiences, including the regret of not asking family members about their life stories, advocating for curiosity and connection with loved ones to enrich one's understanding of oneself and others.

Takeaways

• 💼 Prioritize building intellectual capital first by investing in personal development and learning new skills.
• 🤝 Develop social capital by helping others with your knowledge and skills, which will enhance your network and opportunities.
• 🧑‍🤝‍🧑 Focus on human capital by recruiting others to your cause, which can help scale your efforts and time.
• 💰 Accumulate financial capital last, as it will naturally increase once you've built up the other types of capital.
• 🚀 Work hard and strive for your goals early on to realize what truly matters to you sooner rather than later.
• 💡 Recognize that everything in life is a projection and understand that others' opinions are based on their own experiences, not necessarily on you.
• 🛑 Stop idolizing people and material possessions to maintain your self-worth and power.
• 🤔 Separate self-worth from the work you produce to prevent self-sabotage and maintain mental peace.
• 🎯 Act on your excitement and take risks, especially in your 20s when you have more time to recover from mistakes.
• 📚 Go deep into specific skill sets rather than wide and shallow explorations to become an expert and stand out.
• 🧭 Embrace being lost as a part of life's exploratory phase and an opportunity to meet your new self.
• 🏛 Understand the importance of politics and your rights, as they can significantly impact your life and decisions.
• 👥 Maintain and invest in friendships, lifting others up instead of developing an ego that may isolate you.
• 👵 Ask questions and collect stories from your family while you still have the chance, to understand your roots and gather wisdom.
• 🔄 Be prepared for your values to change over time and make necessary adjustments to align your life with them.

Q & A

What is the first type of capital that one should build up according to the speaker?

The first type of capital one should build up is intellectual capital, which involves investing in oneself and learning as many skills as possible.

How did the speaker change their life by investing in intellectual capital?

The speaker changed their life by reading personal development books, such as 'How to Win Friends and Influence People,' which improved their relationship navigation and opened up opportunities.

What is the second type of capital that the speaker suggests building after intellectual capital?

The second type of capital is social capital, which involves building a strong and rich network by helping others with the skills and knowledge one has acquired.

How does the speaker define financial capital in the context of the different types of leverages?

Financial capital, in the speaker's context, is the money and assets one has after building up intellectual and social capital. It is the foundation for making life-changing money through investments.

What is the advice the speaker gives regarding the pursuit of material possessions and career achievements?

The speaker advises working hard and acquiring everything sooner rather than later to realize that material possessions and career achievements may not be as fulfilling as initially thought.

How does the speaker suggest one should deal with the projections they receive from others?

The speaker suggests understanding that projections are a reflection of other people's experiences and viewpoints, and not necessarily one's own. One should discern and choose to accept or let go of criticism based on its value to personal growth.

What is the importance of not idolizing people or material possessions according to the speaker?

Not idolizing helps maintain one's self-worth and power, preventing the devaluation of oneself and creating more peace and freedom in one's life.

Why does the speaker emphasize the importance of taking risks in one's 20s?

The speaker emphasizes taking risks in one's 20s because there is more time to recover from mistakes, rebuild skills, and learn valuable lessons without the burden of extensive responsibilities.

What does the speaker mean by 'going deep instead of wide' when talking about skill development?

The speaker means that once an individual identifies a skill or subject they are good at and passionate about, they should focus on deepening their expertise in that area rather than spreading themselves thin across many interests.

How does the speaker feel about the concept of being lost in one's 20s?

The speaker views being lost as a beautiful and exciting phase of life that represents a transition from the old self to the new self, and encourages embracing this period as a part of personal growth.

Why does the speaker regret not asking more questions to their family members while they had the chance?

The speaker regrets this because they realize the value of the wisdom, life lessons, and personal history that family members hold, which could have provided a deeper understanding of their own family and themselves.