Last Updated on August 2, 2023

The biggest life lesson I learned

Sometime after high school, my friend told me I could spend all the money I wanted because I would make it back when I was older. It sounded odd, but I believed it and took it to heart.

That was a huge mistake. Here I am at 36 with nothing to show for all my work. I started working when I was 16, so I made at least $400,000 during that time. I spent my money on books I never read, memberships I never used, and clothes I never wore.

Looking back, If I had been wiser with my money, I would have been way better off financially and personally today. I should not have listened to my friend and invested my money. I would have had more leisure time at this age and more freedom to go and buy what I wanted at this age.

I didn’t care much for money; I thought it was something you get and spend. I never realized the power of investing money and how much it can make your life by having more money to spend in the long run.

When you are young big decisions like this, impact your future significantly, and when you are young, you are slow to think about the consequences.

What you should do when you are young is save your money and invest in a well-thought, well-researched business opportunity or, better yet, real estate property which is the safest investment a young person can make. I also wish I had sought out the advice of a financial advisor and listened to his advice.

I met someone that was 50. They had saved all their money since they were ten. They owned a 20-apartment complex and were financially secure and safe for life. Saving and investing for the long term is the correct answer to what you should do with your money when you are young.