Wealth Weekly

The lessons I learned too late about money

Hey zxcv, it’s Mark.

I’ve made plenty of financial mistakes over my life which have cost me well over $200k.

Some of these took me years to realise the mistake I was making.

Looking back, I wish someone had just sat me down and said “here’s what you’re getting wrong.”

So that’s what I’ve decided to do for you today.

You can learn from my expensive lessons without paying the price I did:

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Mistake 1: Trying To Impress Others

In my teens, I cared way too much about what other people thought of me.

When I was 16, I bought a motorbike that I always wanted.

I proudly rode the motorbike home and showed it to my family. My Dad laughed at me and said that’s not a real motorbike it’s a scooter and scooters are for girls.

So he made me return the bike, get my money back and instead he found me a ‘proper looking’ motorbike because in his opinion, that’s what boys should have.

I parted with $180 of my hard earned cash, and within a week the engine had blown up and the bike was worth nothing.

Go with your instincts and not just to impress others. If something makes you happy, then it really doesn’t matter what anyone else thinks.

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Mistake 2: Working Hard, Not Smart

I know I always say in my videos that you’ve got to hustle hard because if you want to get ahead and earn good money.

However, you can overdo this, and if you do, then you risk losing your entire social network.

When your friends ask you if you wanna go out for a drink, see a film or just play some pool, sometimes it’s important to say yes. Even if it means not making as much money.

You really need a social network because remember, your network is your net worth. If you don’t start building that from a young age, then you’re going to struggle in the future.

People do business with people they like. I can’t even begin to imagine how many deals I have closed because of the connections I have made.

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Mistake 3: Not Investing in Index Funds Earlier

I lost a lot of money day trading, which put me off investing. I waited way too long to start making smart, long term investments.

I wish I had known about simple, low cost index funds like the S&P 500 sooner.

If I learnt about compound interest and long term investing much sooner, I wouldn’t have day traded to such a great extent.

The thing to take away from this is that you can never invest too much too early. No one gets to my age and regrets investing too much.

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zxcv, what mistake did you make that cost you money? I’d love to know, so hit reply to this email. As you know by now, I read every response.

All the best,

Mark Tilbury

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P.S. I’m retiring from one of my businesses to dedicate more time to helping you guys. If you’d like my help taking action, then feel free to put your name down on the waitlist (spaces are full right now) - www.thewealthportal.com​