4 Things I wish I knew at 20 (to later become a Millionaire)

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Larry Cheung, CFA

Larry Cheung, CFA

Жыл бұрын

Hope you all are doing good. Welcome to my Channel if you're new. Please subscribe, turn on the notification bell, and join me on this Journey ☀️
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Пікірлер: 64
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
Follow me on Instagram (you're amazing): instagram.com/larrycheungcfa/
@robcanad
@robcanad Жыл бұрын
In my opinion people are too focused on trying to get rich as if that's the most important thing in life or what will make them happiest. Many people sacrifice family time for this pursuit and in the end they miss out on the very best things life has to offer.
@Bongleang963
@Bongleang963 Жыл бұрын
You are right. At the end money can’t buy time and happiness.
@pandau
@pandau Жыл бұрын
Money gives you options. I feel, I have everything to be happy. I should be a happy person. But I would like to have more options.
@robcanad
@robcanad Жыл бұрын
@@pandau nothing wrong with money and you are right it gives you options, but money can also take options away because the pursuit of material things can pull you away from important things like your partner, kids, parents, etc. Keeping that balance is important. We all know too many people that work 50-60+ hours a week and are exhausted at the end of the day when it's family time
@user-vy9mb2yr5p
@user-vy9mb2yr5p Жыл бұрын
@@robcanad That's why you put the work in young and before you have a family. Most people waste time partying, doing other things, and focusing on relationships that won't last. It's a choice you make while you're young or before starting a family. You can have both.
@robcanad
@robcanad Жыл бұрын
@@user-vy9mb2yr5p yeah you can do both at any age, nothing wrong with getting married young either or even having kids when you are young. That's what I did and it all worked out
@Dillermans
@Dillermans Жыл бұрын
Let me validate what Larry is saying from the perspective of a 30 year old who made terrible decisions throughout his 20s… You will be digging yourself out of a financial hole while people and corporations in much better positions are trying to distract and take advantage of what they hope will be your expense. Listen to Larry!!
@kemaltkn
@kemaltkn 11 ай бұрын
1- Sacrifices requires for Succes (Aggressively save money) 2- We are living in cycles 3-Passion is incredibly important 4-Getting rich and staying rich is different and the main goal is staying rich
@tracyshen2264
@tracyshen2264 Жыл бұрын
Great advice. Most people don't take advantage of their 20s. Most common choice is to enjoy life. Nothing wrong with that. Just thats how people get stuck in working full time jobs in 30s, 40s 50s maybe well into their 60s. I quited my job last year at 40. Now i m a full time house wife and mum of 2. How i spend my day is my choice. So much better. All this financial freedom started in my 20s.
@robcanad
@robcanad Жыл бұрын
Excellent move, my wife did the same thing retire at 39. It took some courage because it cut our family income in half everyone around us were double income households. Looking back it was the smartest move ever. Our life is so relaxed, no mad rush to get home, we have lots of family time and financially we may not be rich but we have money to take 2-3 vacations per year wherever we want.
@jp23x
@jp23x Жыл бұрын
Im in my 30s and got my civil engineering degree last year. I realized that i was in no way shape or form passionate about the traditional field of civil engineering. Ive been stuck in limbo since i graduated.
@clarkescollectibles
@clarkescollectibles Жыл бұрын
Hi Larry, just stumbled across your channel and loves this video. As someone in their 20s, I feel like a lot of my peers don’t look at the foundation that must be built to be comfortable and financially free later in life. You have convinced me to go back and finish my business degree, gain those 2-3 years of skills and apply them to my profession (banking/lending). Thanks Larry!
@kevinho4504
@kevinho4504 Жыл бұрын
Great video, I always send your videos to my boys in their twenties to watch as they are in hedge funds and you are a great teacher. ❤
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
Thanks Kevin. Best wishes
@TT-vs2ti
@TT-vs2ti Жыл бұрын
Stumbled upon your channel and I'm glad I did! I loved this video. You share good wisdom very articulately. I definitely worked hard in my late 20s and now ahead financially than most of my peers.
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
I'm very happy for you!
@ContrarianExpatriate
@ContrarianExpatriate Жыл бұрын
56 year old early retiree here. Your observations are spot on and mirror what I have encountered on my road to the 7 figures club.
@henrytang2453
@henrytang2453 Жыл бұрын
Thank you so much, videos like these are legitimately life-changing for a young man like me trying to find direction.
@robertsugarland
@robertsugarland Жыл бұрын
One of the best advices regarding success that I ever heard. To understand it like your describe it, makes me go in one direction and not disperse in other unknown roads.
@bellabethany9
@bellabethany9 Жыл бұрын
This is really profound - thank you
@splendidsnapshot9915
@splendidsnapshot9915 Жыл бұрын
Finance knowledge, wisdom and perseverance are the key.
@1attempting2bkind52
@1attempting2bkind52 Жыл бұрын
This is very inspiring. Thank you beautiful person.
@CelestiaSays
@CelestiaSays 9 ай бұрын
I agree. I'm on the same boat with you.
@larsvedder2506
@larsvedder2506 Жыл бұрын
Thanks for the set of great tips. Positive and constructive messages I can use at 26. Greetings from Amsterdam!
@Alessandra83221
@Alessandra83221 11 ай бұрын
Words are not enough to Thank you. I Just sent it to my 16 old boy. Keep up the great work🙏
@sobbski2672
@sobbski2672 Жыл бұрын
As a college senior that just had an unforeseen change in my research, I appreciate the optimism and advice!
@sobbski2672
@sobbski2672 Жыл бұрын
Also, (4 .. 20 ;)
@ShaneSideris
@ShaneSideris Жыл бұрын
I love the video. Such solid advice. I like the concept of 1. Learn 2. Earn 3. Return!
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
Thanks Shane!🎉
@noname-rv7yh
@noname-rv7yh Жыл бұрын
Thank you!
@christopherk7920
@christopherk7920 Жыл бұрын
This video post was the first thing I watched this morning. Despite being 48 this yr, i find it refreshing and thought provoking ! thank you Larry - chris fr Malaysia
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
Thank you Chris 🎉
@user-wv8zz1iv5v
@user-wv8zz1iv5v 8 ай бұрын
Yes, we need to be flexible and welling to learn every time it's possible. I think college is more to learn how to think with philo, languages, built a critical mind. University is more specific to a sector we will work, but job tasks are more specific to the job and tech/tools chg...We need to be flexible, welling to be a student often in life, humble and open to new...I agree with what you say. Hope many young listen. Well done!
@richardwills-woodward5340
@richardwills-woodward5340 Жыл бұрын
I'm in my 40's and lost everything through Covid and in the bizarre environment since. My challenge now is to build back with the PE company for my Far East clients I am starting focused on the property development space (but with a difference) - those I have surrounded myself by over the years make this possible and a degree of funding possible from what little I have left and the contacts around me. It is going to be a very long road. There we are - such is life.
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
I know what you’re going through - stay strong - hope to see you succeed 🎉
@entadus
@entadus Жыл бұрын
Nice vid thanks
@avocadoarmadillo7031
@avocadoarmadillo7031 Жыл бұрын
I am in my late 20s, and I have been trying to gently nudge my friends into a more financially responsible mindset. One friend told me that 'retirement accounts are worthless' because of her wages. She performed spectacularly in undergrad as a biochemical engineer, so I encouraged her to find another job. I recommended several which happened to have mandatory high-reward pension plans ;). I started investing about a year ago as I landed my first white collar job, and have already seen nice returns, and now genuinely enjoy the markets.
@luchozarco1379
@luchozarco1379 Жыл бұрын
Larry first of all, I want to thank you so much for making this amazing content, and helping the community to reach our goals. This video was so special for me due to the fact that on 2 days I will become 20 years old, I'm from Colombia, and my dream is to be a big player in the financial industry. Watching your videos no matter the topic you focus give me a boost of motivation and enthusiasm. I agree that being passionate and being focus is one of the most important things for being good and successful. Thank you so much Larry.
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
Thank you so much!
@atangbingana283
@atangbingana283 Жыл бұрын
"Mid-Size Creator" Don't sell your self short buddy. You're Huuuge to us.✊
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
You're the best :)
@kaig9707
@kaig9707 Жыл бұрын
Hey Larry, What do you think about Bitcoin? Appreciate your videos.
@pavelsokov
@pavelsokov Жыл бұрын
Great Advice Larry!
@luliluli1471
@luliluli1471 Жыл бұрын
Subscribed. A great thank you from Norwich UK. Keep up with your great job mate!🙏🏻
@carolconstantino1638
@carolconstantino1638 11 ай бұрын
Mr. Larry how does these apply if I am in my mid 30’s already. If I follow the 10 year rule I knew it would be a different story. But I wanna know what’s your take on these?Thanks
@ScottsFinancialThoughts
@ScottsFinancialThoughts 2 ай бұрын
Nobody wants to build wealth brick by brick. They want to get rich quickly and that’s why you should build wealth brick by brick. A solid foundation is key. There is a wealth transfer happening. The question is are you going to take a piece of the transfer or are you going to have your wealth transferred to someone else.
@muruganm848
@muruganm848 Жыл бұрын
It is true I gained money easily during the winter down markets of 2022 buying outs and then lost it taking high risk trades. Diligence and slow growth is much better than explosive and exponential growth.
@Videoeditsfun1
@Videoeditsfun1 Жыл бұрын
I just recently turned 21 and have experience many slapped in the face by the market. Instead of earning during this QE or crypto boom/ NFT. I was losing like mad. But I am not going to give up.
@vinaypolavarapu2111
@vinaypolavarapu2111 Жыл бұрын
advice for investing in a roth IRA for long term growth?
@Q5992vvr
@Q5992vvr Жыл бұрын
I never knew Larry was a f-ing g!! Or rather I always knew.
@rotcataergeht
@rotcataergeht Жыл бұрын
I Grew up without parents. i live with my dad only 4yrs he didnt teach me anything at all. hes a gambler addict. i never live with my mom they separated. After i turned 18yr old my uncle kicked me out becus im adult now. From 18yr to 35yr i was completely Lost. i dont know where to go to for advice. i have nobody to guide me. i can only rely on myself as a result i made mistakes after mistakes which drag me deeper into a Hole. At 40s, i have enough life experiences. now i understand WHY so Many young ones are so successful at younger age... Their parents are Guiding and helping them. Thats the secret of most successful life.. have a good parents to guide you and/or start a good career at early age.
@rotcataergeht
@rotcataergeht Жыл бұрын
..and my Uncle? he didnt teach me anything either. Him and my aunt called me stupid often. How you like that, instead of teaching someone to be smart you continue to call him stupid. i wouldnt do that to any children.. its Wrong. But i thanked them for raising me but hate em at the same time. As for friends? I have not even one friend. im a loner. most ppl think im strange and dont make friends with me.
@Our_Patterns
@Our_Patterns 10 ай бұрын
Didn’t know Tech Lead had a second channel
@derbyboon
@derbyboon Жыл бұрын
Can I earn as a job in trading
@jod5834
@jod5834 Жыл бұрын
👍👍👍💯💯💯
@kiwi73
@kiwi73 Жыл бұрын
Great video I love your enthusiasm and passion, I wish I had known you when i was in my 20's, I think the hardest thing along the journey is EARNING the money needed to invest and become wealthy. This is overlooked as easy...it is not and is the hardest part. I am starting at zero at 48 years old, during covid I retrained, built on previous experience and it has paid off with a high paying job in a foreign country but now starts my race as I only have ten years to get something done...it requires saving like a 30 year old.. I need advice but I still have the energy and drive, determination to get it done!
@JohnInvest17
@JohnInvest17 Жыл бұрын
You are the average of 5 people you spend the most time with.
@navagiopoint
@navagiopoint Жыл бұрын
Respectfully, how come you were completely wrong about the market - made 8/10 of your past video about recession only to see this rally, especially on tech? We learn from our mistakes, care to do an analysis /explanation on what happened?
@LarryCheungCFA
@LarryCheungCFA Жыл бұрын
The economy is different from the market, and given that the markets change every day, I wouldn’t say I’m wrong. Remember that markets are open every single day and that price changes all the time.
@thailandistheshitman
@thailandistheshitman Жыл бұрын
If you focus your 20s on money then you will miss out on the best experiences that comes with that age
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