If You’re Not Getting Rich in your 20s, You’re Doing it Wrong

If You’re Not Getting Rich in your 20s, You’re Doing it Wrong:

Some excerpts:

Because here’s the thing about your 20s. They are the time to work. The very, very best time in your life to work your ass off and create an exponential snowball of money, skills, and friendships. Your brain will never be more sponge-like and inexhaustible. You will never feel more motivated and less cynical than you do now. And you will never have another decade of pre-childraising freedom in your life. For the roughly 90% of people who plan to have children at some point make note of the following two bricks of wisdom:

• No matter how much you like working right now, Shit can get Old … fast.
• Kids are way more work than you expect, accelerating the aging of the aforementioned Shit.

These days, kids tend to happen in your 30s. If you attempt that feat with nothing but a well-networked career and a hangover, your life will suck. You need to be well back from the financial cliff, not worried about how you’ll cover the next round of bill payments if you lose your job. It works even better if you’re completely financially independent by that point.

Gaining your Pleasure through Creation, not Consumption

The Elite Daily article builds its case around advancement, networking, and socialization. All good things, to be sure, but also a bit of an illusion. We all like to fantasize about a $60,000 raise brought about by drinking the right mixed drinks in the company of the right influential people. And sure, maybe occasionally things like that do happen. But to think of this as an actual strategy for getting ahead is roughly as smart as bringing your lucky numbers to the lottery vendor faithfully every week and crossing your fingers for the big win. In real life (even New York City real life), you get paid for getting really difficult shit done, better than anybody else can do it.

This means fiddling with meticulous, gigantic spreadsheets at 11:56 PM so you can get the impressively casual email to the department polished and sent by 2:30am. Or wiring your brain to source code and compiler windows spread out across three 34″ monitors on your stand-up desk while you design software in zen-like silence at 6am before everyone else shows up at work. Or revising and re-researching your latest article for Elite Daily for the 55th time so it’s better and more viral than any article ever written before. It means training your body and mind in your off hours so that you can perform better than anyone else in the on hours. Inhaling books on investment, psychology, nutrition. Barbells and pullup racks in your apartment where your peers keep the Louis Vuitton purses and Apple products. Mixed greens in your apartment fridge where your peers keep redbulls and $50 bottles of vodka.

Sure, there’s more to life than work. There’s plenty of room at the edges for laughs over fine tequila and winks over surreptitious servings of weed. You can dance and feast and have ill-advised romances and circulate in the penthouse parties of billionaires. But this stuff is just the icing. It doesn’t make a good foundation. Work is the foundation, and all other activities need to be metered carefully to fit around that core of work.

When you find that rare eligible workhorse, you grab her and shower her with money and opportunity, hoping she will accept. You need to be that lone workhorse, getting stuff done while everyone else is out late and living off of credit cards and parental subsidies. This is where money comes from. Luckily, this is a happy situation and something to celebrate rather than dread. Doing your ultimate work is the core of human satisfaction. Filling the rest of your life with fun around this core makes things even better.

If work is your core rather than buying yourself treats, money automatically takes care of itself. This means you don’t need to painfully crimp your lifestyle to dribble a few percent of your income into savings. Instead you painstakingly design your lifestyle so you end up keeping and investing more than half of what you earn. Not hundreds per year. Tens or hundreds of thousands per year. Sure, you’ll blow a few hundred here and there, but you won’t do something completely apeshit like buying a multi-thousand-dollar wardrobe or financing a new car. These would just be distractions from your real life goals, so why would you allow them to steal your focus? 

Working with this level of focus brings you an unusually high income. Balancing it with less personal pampering allows you to spend less than everyone else while feeling like you are living like a rock star. The end result is being relatively wealthy while you’re still fairly young, and then realizing it was a damn good thing you did that, because by age 30 you’re ready to start doing your own thing without having the need to pay the bills get in the way of it. This leads us to our final brick of wisdom for 20 somethings:

There is a lot more to life than your 20s, and if you do it right, life keeps getting more fun.

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