Success doesn’t come overnight. You have to build it, bit by bit, just like a massive structure. When people ask successful people about that one secret which made them successful, they often smile and stare, because there is no one secret except hard work, perseverance and not giving up in the face of situations when there is no hope at all. Experience comes as we move along in life. We daily crib and regret our past mistakes. But learning not regretting from the past is the key. Some successful and rich people of the world shared what they wish they had known in the 20s. These insights give some great pieces of advice for the young and middle aged alike. You can apply these insights in your life right now to make a difference.
Mark Cuban (Investor, owner of NBA’s Dallas Mavericks, Landmark Theatres, Magnolia Pictures, AXS Tv)
Billionaire investor Mark Cuban is famously rich. He is an investor and Entrepreneur. Mark’s biggest wish about what he had known in his twenties is about credit cards. Don’t invest in credit cards. Save the money and invest in stock markets.
“I should have paid off my cards every 30 days,” says Mark.
Tim Ferriss (Investor and author of the famous book “4 Hour Work Week”)
Tim’s advice is to focus on learning new skills instead of earning money in your 20s. For example, you are making $1000 in a job that is low skill or not meaningful. This is not good for you in the long term. So it is perfectly advisable to break the circle, learn a skill that would pay you less in the short term, but has strong potential to give you let’s say $5000 a month.
Alexa von Tobel (CEO LearnVest.com, author of “Financially Fearless”)
Alexa stresses the importance of organizing your finances. Most of the Millennials don’t have a plan when it comes to money. They don’t know what would be in their accounts after five years. They spend a lot. They don’t have a set plan to manage their expenditures. Alex says that she felt the importance of this thing so much that she went on the start LearnVest to help millions of people manage their finances.
Adam Nash (CEO of Wealthfront)
Adam says that you should focus on getting a perfect career in your twenties. How? Try to get into a company with hypergrowth. Try to see the potential of the companies and make the right decision.
“When you think long term, the company you join is far more important in your 20s than the specific compensation or role,” says Nash.
Blake Mycoskie (founder of TOMS, an apparel and shoe company)
Blake says that you should focus on your passions and true callings instead of money in your twenties. Had he chased money on his 20s, says Blake, he would have never been able to become a millionaire today. He is helping thousands of people today with a growing company. In your 20s, it is difficult not to run after money, but you have to understand that it is the true passion and aspirations that would pay you back. Just wait a little more.
Kevin Cleary (CEO, Clif Bar Company)
Investing money is the key in our twenties according to Kevin. He says that in his twenties, he was full of energy and time. Investing with risks in your twenties has a huge potential.