61-year-old self-made millionaire: 4 things I regret wasting money and time on in my 20s
June 04, 2019 @ 13:55 UTC
Grant Cardone: “Looking back at my 20s, there was so much I didn’t know about money. With what little I earned, I wasted on useless things that didn’t benefit me at all. Here are the top four things I regret spending my time and money on”.
1. Drugs and alcohol
After graduating high school, I became obsessed with all the wrong things. I spent money on drugs and alcohol — and even developed an addiction problem. I should have been spending that money on things that would help me develop new skills, gain knowledge and make powerful connections.
Kevin O’Leary says that taking a gap year to travel is a bad idea — and I couldn’t agree more. I took so much time off early in my entrepreneurial career that it almost derailed me. I was also spending money I didn’t have on airfare, hotels and food. I’m not saying you can’t ever take any time off. I can travel the world in my own plane today because I ultimately decided to put in the hard work. Get obsessed with your purpose, and you’ll find that your travel plans can wait. Comfort is the enemy of abundance. Don’t let an $800 ticket to Europe get in the way of your freedom.
3. Sleeping in
When you’re young, it’s easy to be lazy and not feel guilty about it. But guess what? The rich and successful get a good night’s rest, but they don’t sleep in. Let everyone else in their 20s sleep like they’re rich. You should be up at the crack of dawn.
4. Being too comfortable in my jobs
I wasted half of my 20s working low-paying jobs that didn’t challenge me to grow and develop valuable skills. I’m not saying low-paying jobs are bad; sometimes you have to start a lower salary. But being content and without any drive won’t make you successful in life. You should constantly be asking yourself, How can I earn more money? It might mean asking for a raise, switching to a new job with a higher salary or taking on a side hustle. Be a money fanatic. The acceptance of the idea that eight hours invested in your job is enough regardless of your financial position is a misunderstanding of epic proportions.