Last month, I tried to impart some of my life’s lessons. This month I’ll finish with the rest. On a side-note, the holiday season can be stressful and messy with friends and family so remember to breathe deep and take timeouts when needed!
- Wealth building is like a game, that’s why we played Monopoly as a kid to teach us. How you play the game is up to you. You can just go around the board and pass go and collect your $200 or you can start buying assets.
- Be careful who you trust; loyalty is rare.
- Wealth is not how much you make; it’s about how long you can live comfortably without working.
- The best investment you can make is in your health. This is something you can’t buy your way out of.
- You only need enough cash to cover 6-12 months of expenses; the rest needs to be invested. This is your emergency fund.
- Always invest in your education, never stop learning.
- There isn’t anything worse than someone who has no dreams and no goals.
- If you are playing the game, you need to understand the rules. Take an opportunity to build your EQ and SQ.
- Only take advice from people playing the game. Anybody can coach from the sidelines.
- Keep your circle small and loyal and stay away from people who complain.
- In your 20s, avoid liabilities and just stack assets. The compounding dollar is your best friend.
- Never hide your goals and dreams from your partner, a good partner will help you achieve them.
- Know the difference between having fun and being foolish.
I pray everyone has a safe and happy holiday season! Cheers to an amazing and prosperous 2025!
Best,
Phillip
