my honest advice to someone who wants to get rich

An ambitious young man, lacking positive role models and coming from a poor background, sought advice on achieving wealth. This individual encountered an older man, characterized by a perpetually sour demeanor, who immediately dismissed the younger generation as lazy and unwilling to work hard. The young man attempted to explain the current economic complexities, including juggling college education with employment, but the older man was unreceptive to the differing challenges faced today.

The younger generation was lazy and didn't know the first thing about hard work.

Witnessing this exchange, an observer who had achieved significant financial success early in life intervened. This intervention acknowledged that while previous generations certainly worked hard, the contemporary landscape presents unique and more intricate obstacles. The core message delivered was that encouragement and guidance are necessary, rather than belittling the efforts of those who are the future leaders of the world.

The world has evolved, making the path to established success less linear than in previous decades. Young people are actively managing educational pursuits alongside employment responsibilities while planning for an uncertain future. This complexity necessitates a supportive environment where experience is shared to guide rather than criticize the current workforce.

The initial two decades of life are often spent in structured learning environments that do not adequately prepare individuals for generating income. When young adults enter the working world, they often feel behind when comparing themselves to social media portrayals of instant success. It is vital to understand that this feeling is often due to systemic educational gaps, and individuals are truly just beginning their financial journey.

Instead of immediately launching a business without foundational expertise, the focus must shift to sharpening one's abilities, metaphorically described as sharpening an ax. This involves mastering high income skills, defined as competencies that possess the potential to generate earnings of at least $10,000 per month. Mastering one or two such skills positions an individual favorably early in their career.

The true value of these skills extends beyond immediate income; they act as gateways, facilitating interaction with highly successful individuals and providing access to proprietary information that others might pay substantial sums to acquire. The son of the narrator exemplified this by honing videography skills in school, leading to clients and earning $10,000 monthly within a year of graduation.

Rushing the process or aiming for rapid millionaire status is counterproductive. The objective should be sustainability, ensuring one becomes a lasting success rather than a fleeting one-hit wonder. This requires extending the personal timeline and trusting the process, understanding that mastery of the right skills guarantees eventual financial rewards.

Handling money carelessly leads to its dissipation, much like handling a stack of cookies causes them to crumble. The temptation to constantly trade, buy, or move liquid funds often results in suboptimal decisions. Real wealth generation relies on understanding the mechanism of compound interest, which requires capital to remain invested and untouched for long durations.

How did Warren Buffet amass 99% of his 137 billion net worth after his 50th birthday?

Money cannot be left idle in standard bank accounts; it must be deployed into appreciating assets. While options like real estate or gold exist, the stock market is presented as a favored vehicle for significant returns. The critical shift occurs when the first million is earned: the real game is retaining and growing that fortune, which means moving it away from personal control swiftly.

A personal rule adopted involved never selling long-term stocks, leading to passive income streams that allow for living expenses to be covered entirely by investment returns. This mindset shift—viewing invested money as no longer personally accessible—fuels the hustle to acquire more capital, similar to a boxer training in a humble gym who ultimately defeats the one with luxury facilities.

The primary obstacle preventing wealth accumulation is often not the fear of failure itself, but the intense concern regarding external judgment upon failure. Many motivated individuals become paralyzed, unwilling to step outside conventional norms because they fear social repercussions. However, achieving significant advancement necessitates taking calculated risks that differentiate one's actions from the majority.

The greatest asset available to younger individuals is time. This abundance of time should significantly lower the perceived level of risk associated with bold moves. While real-world fear exists—such as leaving a stable carpentry job due to workplace toxicity—overcoming that fear proved to be a critical, positive turning point.

Not taking opportunities can lead to regret, and you may find yourself wondering how your life could have been different.

As individuals age, their capacity to absorb market volatility decreases. Therefore, younger investors should favor riskier, growth-oriented investments over conservative assets like bonds or gold, which are better suited for wealth preservation in later life stages. Being adventurous now capitalizes on the time advantage; failure should be reframed as experimentation, since most successful people have endured numerous setbacks.

The confidence levels of individuals often do not align with their actual knowledge, a phenomenon illustrated by the Dunning-Kruger Effect Curve. Many people fail to progress past the initial peak of unwarranted confidence because they mistakenly attribute wealth creation to luck rather than recognizing it as a skill requiring continuous learning and application.

Even those who have achieved financial success must remain students of the current environment, utilizing modern platforms to stay informed. This continuous learning allows for the identification of emerging opportunities before they become common knowledge within one's peer group. Respecting the process and earning one's stripes through consistent education is paramount.

The standard Western educational model, which dictates learning ceases in the early twenties, is fundamentally flawed in a rapidly progressing world. Without regularly updating one's mental software and clearing out outdated knowledge—the equivalent of computer viruses—the brain's operational capacity will degrade. This constant updating is essential to avoid obsolescence.

For individuals aiming to become the first in their family to achieve wealth, breaking the cycle of poverty is necessary. Research indicates that befriending wealthy individuals significantly improves the chances of financial success. This association encourages behaviors like increased stock market participation and greater propensity to save money.

Nervousness surrounding investing or starting side projects diminishes when surrounded by a supportive circle capable of explaining complex topics clearly. The recommendation is not to abandon existing friendships arbitrarily, but to strategically join environments where successful people congregate, allowing natural friendships to form. The younger generation holds the ideas and drive necessary for the world's future prosperity.