Recently, I sat down for an interview with British actress, influencer, and podcast host Amy Jackson Westwick.
In our interview, we discussed 16 life-changing lessons.
When it was all said and done, Amy had this to say:
“Tim, I love the way you see the world. I love the way you talk about the world.
I love the LOVE you have for the world.
Thank you for sharing all of your inspiration. Come on … Absolutely fantastic.”
It’s true, I chased money for years before I realized the truth.
Which is why I want to share these lessons with you now.
1. Cut Losses Quickly In Trading and In Life
This industry is full of failure and bitterness. The answer?
Rule #1: Cut Losses Quickly.
Too many people fall in love with penny stocks.
Once upon a time, I fell in love with a penny stock and lost $1 million (my heart was broken).
I was dead on about home-printed ticketing technology. But I was dead wrong about the company.
If you do it the wrong way, you’re going to lose.
It’s no different than driving a nice sports car and ignoring the road signs. If you go through red lights, you’re going to crash and burn.
2. Obsession and Dedication Beats Talent and Intelligence
I was self-taught (it was the early days of the internet).
In high school, there were computer blocks with 10 computers in the library.
And because the internet was so slow, I would load one web page on one computer.
Then, while it was finishing, I would go to the next.
So, I had an early 10-monitor computer setup, but it was really just the library at my high school.
I skipped class (sorry kids).
Many people come into the market every day (whether they’re trading penny stocks or crypto or anything else) with the wrong mindset.
“Give me something to buy…”
That’s gambling. It’s no different than going to a casino. You don’t have the odds on your side.
But if you prepare…
• Study hard
• Study on weekends
• Look at charts
• Look at trends….
You CAN get the odds on your side.
Many of my top students are not the smartest at math.
They’re not book smart. They just want it bad enough.
It might not be 100% of the time, but I win roughly 70% of the time (which is pretty good).
3. Money Is a Means to an End, Not an End in Itself
My purpose initially was to travel, to retire my parents (because they worked hard) and to take care of family.
Done.
Then I wanted to make $1,000,000 because I thought that I could (and I did).
It wasn’t easy, but I did it.
Then I wanted to teach. So far, I’ve created roughly 50 millionaire students.
One goal at a time.
But after all that money, all that luxury, all that travel, you want more.
And that got me into charity.
Now I want to build 1,000 schools. My charity Karmagawa has built 130 schools in 32 countries.
Roughly 33,000 kids go to our school every day.
The cool thing is, because we have so many schools, some of the kids have graduated.
They have jobs and they’re supporting their families.
4. Success Feels Empty Without Purpose
A lot of wealthy people, especially traders, are set in their ways.
For a while, I was the same.
I did the luxury hotels, the sports cars, and all the materialistic stuff.
It gets boring…
I remember the last time I spent too much money at a nightclub (STORY in Miami).
I had this giant table in the front of everything and it was $22,000 for the night.
At the end of the night, I walked home. It was a three-hour walk.
All I could think was “what am I doing with my life?”
I was feeling empty, so I started to travel, to learn about the world.
On a trip to Bali, I convinced my driver from the Viceroy Bali to take me to his village.
I met his family. It was so different and so beautiful.
We tried to build a school there, but village politics got in the way.
That inspired me to start building schools.
5. Education Is High-Leverage
A lot of people in the Western world take education for granted.
“School? Whatever, I don’t need that. I’m not going to learn that much.”
In third-world countries, it can mean the difference between life or death.
If you can’t read or do basic math, it condemns you to poverty.
So we’re trying to teach kids just the basics.
It’s my obsession.
6. Fake Information Causes Real Damage
There’s a myth that eating pangolin scales or rhinoceros horns makes you strong.
Source: Millionaire Publishing
People kill these animals for keratin. It’s in our FINGERNAILS.
Eating pangolin scales has ZERO scientifically proven benefits.
We’re killing animals because of myths. And it goes beyond the animals…
For example, an adult pangolin can eat 15,000 ants and termites in a single night.
When pangolins get killed, the insects live (and destroy the forest).
So, based on a myth, we’re destroying the forest by killing the protectors of the forest. It’s crazy.
7. Travel Helps People Move Past Fear and Prejudice
Many people don’t get to travel. They don’t appreciate other cultures, especially with what’s going on in America.
Source: Millionaire Publishing
Once you learn about other cultures, you learn to appreciate them. You find that we’re not so different.
Even though we might have different beliefs, we’re very similar. It’s pretty amazing when you go to other countries.
I encourage you to go beyond the typical vacation spots when you travel.
Get out of your comfort zone.
Go to a third-world country, see what the world is like (you might be surprised).
Don’t Waste Any More Time
I wish I had known these lessons earlier in my career.
It took me time to realize what REALLY matters.
Now that I have, I’ve never been happier. Come back Monday for part 2 of the biggest life-change lessons.
What’s your favorite life lesson? Email me at [email protected].
Cheers,
Tim SykesEditor, Tim Sykes Daily
