He had it all by 30, but was still ‘miserable’—now he follows these money rules

You can get pretty far just by avoiding mistakes: foolish impulse purchases, avoidable debts, emotional investments, neglected responsibilities. Slow down, think clearly, and protect yourself from yourself.

Markets fluctuate. Seasons change. Businesses rise and fall. Your sense of worth must be tied to something deeper: character, values, relationships, interests, service.

You can’t improve what you don’t follow. Use a financial tracking and management tool to get a clear picture.

Manage financial expectations by keeping your lifestyle well below your means, creating slack in the system, and never equating economic progress with a lifestyle breakthrough.

People who do best financially are often those who are obsessed with solving real problems, making real impact, or truly helping others.

The return from improving your skills, expanding your scope, creating new revenue streams, or stepping into higher impact roles dwarfs the difference between a 6% or 8% market return.

Always invest a little more and opt for quality when purchasing products for their benefits. They last longer and cause fewer headaches.

The world is full of silent scripts about what you should buy, achieve, or have by certain ages. Most of it is complete nonsense. Your life is not a competition with someone else. There is no timeline. You can create your own.

Never use debt to live a life you can’t really afford. One simple rule I follow: Never finance the purchase of a luxury item unless you can get twice as much in cash.

This reduces impulse buying and increases savings and investment rates. If you still want to buy that thing after 24 hours, go ahead.

There are some investments that require money and no time (index funds) and some that require money and a lot of time (active multifamily real estate). Be sure to consider both when evaluating the return on an opportunity.

Early in my career, I started making angel investments in early-stage technology companies. It didn’t make much sense on paper: I didn’t have much capital, and I knew most startups would fail. But what they lacked in financial returns, they made up for in access, networks and learning.

There are many things that seem like expenses but are better considered investments in yourself: fitness, quality food, books, personal development, mental health, etc. You’ll have more energy, feel better, and show up better in the world.

Once you start making more money, a host of options become available to reduce life’s little frictions. You can hire a personal chef, a full-time cleaner, a staff member or a driver. But sometimes it was this friction that created meaning. to value significant friction in your life.

Money problems rarely come down to math. It is caused by misalignment. Monthly financial check-ins provide transparency, trust, and shared direction. Focus on values. What does this month mean? What doesn’t it do?

Given the magic of compounding, even small percentage increases have a huge impact in the long run.

It may seem extreme, but peace of mind has its value. Knowing that you have financial security allows you to see and take advantage of exciting opportunities when they come.

Your willingness to imagine bad times in good times is what allows you to navigate them safely. What if you lose your job? What if you had a major medical expense?

Bestselling financial author Ramit Sethi says people ask $3 questions (Can I have this coffee?) when the real important questions are the $30,000 questions (How can I make twice as much?). I see friends spending countless hours optimizing their credit card scores while thinking about how they’ll get promoted three times next year. Unless it brings you joy – some people do game credit card points — skip these.

The barbell has weights at the ends and nothing in between. The barbell investing approach ensures that the majority of your investments are on the safe, simple, and stable side (e.g. index funds, bonds, cash), while the remainder have a high-risk, high-return profile (e.g. startups, crypto). The goal is to have some exposure to the high returns of risky things, but without taking too much risk because it’s a small piece of your overall financial pie.

Accounts everywhere, investments you don’t understand, obligations you can’t keep track of. This is how people lose control. Automate, consolidate and reduce unnecessary friction. The simpler the system, the more likely you are to stay on course.

Eliminate cognitive load to free up space to realize greater opportunities that can help you earn more.

I found myself spending hundreds of dollars per month through random subscriptions that I never used and didn’t know I had. Use your financial tracking tool to find and eliminate them.

Be frugal towards yourself and generous towards others. Generosity creates much more happiness than consumption.