Skip to main content

something you learned very late in life, but wish you knew much earlier


Michel was what I considered “successful.”
But my understanding of success changed dramatically when my friend Michel lost everything after the 2008 financial meltdown.
Michel lived an extravagant life, which made everyone jealous about his “good life.”
He drove a luxury Mercedes Benz. I wanted one.
He had a magnificent office. I wanted one.
He traveled in luxury. I wanted that.
He had an impressive home. I also wanted one.
But Dave’s life dramatically changed overnight. As soon as he lost his job during the 2008 financial crisis, Dave’s massive debts made him lose everything.
It happened that Dave’s “millionaire” lifestyle was like a balloon filled with hot air — the moment his income stopped, everything came crumbling down.
Stress took over his health, which eventually led to diabetes and depression.
He could never get back up again.
To answer your question, what is something that I learned late in life, but wish I had learned earlier?
I used to live competing for financial success.
I stressed about achieving Dave’s lifestyle and also made stupid decisions. I wish I had listened sooner to my father’s advice who insisted, “Hector, success in life is not a race. Success in life is living wisely.”
For years I struggled with my dad’s advice. I wanted to live like my friend Dave. Luckily, eventually taking my father’s example saved me from ending up in the same situation as my friend.
When I witnessed Dave’s life collapse, I finally understood my father’s words of wisdom.
·         Dave’s life was hollow and fake. His lifestyle was not reasonable or realistic. He was living for the moment. My dad’s example taught me to live each day making wise decisions.
·         Michell was living to impress others. My dad’s example taught me to live each day with character.
·         Dave’s shallow and fake lifestyle came to an end abruptly. He never invested in the future. He burned everything that he made.
Today I’m not racing anymore. Today I see each day as an investment. I live life as if I were investing in search of compound interest.
Image result for its ok to grow slow

I wish I had understood earlier in my life that the sacrifices I make today will pay me dividends in the future.
Stay happy

Comments

Popular posts from this blog

Is finding passion a good thing?

"You’ve got it all wrong,"  my father said. "What do you mean?"  I asked. "Tell me,”  he continued, “What do you feel passionate about?" "Well, " I paused for a second,  "I feel passionate about entrepreneurship, technology, and car racing." "Passion is a feeling,"  my father said in a loud voice.  "If you pursue passion, you will end up in trouble. You can't run your life on feelings — feelings are not reliable. Emotions ALWAYS fade away! Always!” He’s right. I'm passionate about entrepreneurship. I’ve started businesses that have led me to unnecessary trouble. I'm passionate about technology. I’ve wasted money being an early adopter of unnecessary technology. I'm passionate about car racing. Several years ago I got into Go-kart racing.  “What was I thinking?” My father proposed a different perspective to me,  "You need to start with a clear purpose for your life. PURPOSE is the reas...

How do the rich earn money if it’s not exchanging their time for money?

Princess Leia owns an apple farm. Luke is the CEO of the farm. A team of one hundred Rebel Troopers works the farm. Rebel Troopers earn  $20 per hour  worked. We use this formula to calculate their income:  Paycheck = ( hourly  pay) x (hours worked) If Troopers work 40 hours per week, that would be 20 X 40, which equals $800. Rebel Troopers are commonly encouraged to save their extra money by depositing it into a bank. Their investment follows this equation:  Savings benefits = investment X annual interest The problem with “ the paycheck formula ” or the   “ bank-savings formula ” used as mechanisms to wealth is that the variables are  limited  and out of the Troopers’  control . ·          Troopers cannot work 3,000 hours in one week. ·          Troopers cannot force Luke to pay them $1,000 per hour. ·      ...

Why do millennial have more student loan debt than any other generation?

The lost generation: Today’s children get prizes and awards merely for participating — this sends a DANGEROUS message to kids: “We’re all winners.” This mindset is repeated continuously at the end of each project, event, or season. As a result, kids grow up expecting awards and praise just for showing up — (by the way, this sounds like socialism.) This mindset leaves kids terribly unprepared for the harsh realities of capitalism. Capitalism is ruthless. It rewards only winners, not just anyone that shows up to ‘work.’ Today, these kids are being offered an irresistible deal: “Go to college, and don’t worry; you can pay the massive college tuition with credit, and whenever you find a job with your ‘valuable’ degree, you can pay it back later.” “I MUST participate!” So, here they go to “participate,” at a mediocre college, to study a mediocre (and outdated) degree, to finally, AGAIN, get a “participation reward,” called a degree... Now, here comes real life: There’...