Always Be Learning or Earning

The Advice I Wish I Had Earlier in Life

When I write for The Lesson, I tend to keep things practical—marketing, leadership, strategy. But today, I want to get a little more personal. This one is for my son, who’s about to graduate high school and step into the real world.

Like many 18-year-olds, he has big dreams—success, financial independence, happiness—but figuring out how to get there is the hard part. I don’t have all the answers, but there’s a few pieces of advice I wish someone had drilled into me at 18. It’s simple, I tried to make it catchy, and I hope it sticks with him (and maybe you too):

Always Be Learning or Earning

If every day you’re either learning something new or earning something to invest, you’re moving forward. That’s the mindset I wish I had understood earlier. So, here’s how I broke it down to him.

Always Be Learning

Learning is like being a shark—you’re either moving forward, or you’re dying. The world is evolving faster than ever, and the truth is, no one can keep up with everything. But that’s okay. You don’t need to know everything—you just need to be smarter than you were yesterday. Here’s how:

• DON'T JUST GET THROUGH CLASS—GET SOMETHING OUT OF IT. Forget about perfect grades. A ‘C’ student who deeply understands the subject will go further than an ‘A’ student who crammed and forgot everything a week later. The goal isn’t to pass—it’s to prepare.
• ASK SUCCESSFUL PEOPLE HOW THEY DID IT. You’re going to cross paths with people who seem to have cracked the code. Instead of admiring them from afar, be curious. Ask questions. Most people love talking about their success. Give them the chance to transfer knowledge to you. If you’re lucky, you’ll walk away with a mentor. If you’re even luckier, you might get to work with them—offer to help, even for free, just to be in the room.
• MAKE TIME TO LEARN DAILY. One hour a day equals nine work weeks of self-improvement per year. That’s almost a full quarter of a year spent making yourself better. Read books, take online courses, listen to podcasts, watch educational YouTube videos, listen to an eBook in the car or at the gym—just keep growing.
• LEARN TROUGH LOCATION. Proximity matters. Where you go to school, the events you attend, even where you choose to work—all of these affect who you meet. Successful people surround themselves with other successful people. Position yourself in environments where you can network, learn, and observe firsthand how high-achievers operate. You’ll be surprised how many doors open when you’re in the right rooms. Someone once said the most valuable part of attending Harvard wasn't the education, but the connections made.
• FAILING IS THE PRICE FOR LEARNING. Understand that failing is part of the learning process and it’s ok. Michael Jordan to Walt Disney, Wright Brothers to the Beatles were rejected and failed. And like them, you never start over, you start from experience. Just be calculated and try not to fail so big you can’t recover.

Always Be Earning

While you’re learning, you should also be earning—and not just in the traditional sense. Wealthy people don’t just make money; they put it to work. Financial independence isn’t about luck or a six-figure salary—it’s about consistently making smart choices over time. Want to have a multi-million dollar net worth well before retirement age while you’re young enough to enjoy it? Here’s how to start:

• BUY A UNIVERSAL LIFE POLICY YOUNG. Most people don’t think about life insurance at 18, but it’s cheap now, and it builds cash value over time. Later, you can cash the policy in or borrow against it when you need financial flexibility, and it won’t count as taxable income.
• INVEST IN A ROTH IRA EARLY. The best part? It grows tax-free. If you invest the max of $7,000 annually and leave it alone, compound interest will do the heavy lifting. Your future self will thank you.
• CHOOSE A ROTH 401(k) WHEN AVAILABLE AT WORK. Traditional 401(k)s defer taxes (most people fall for this), but a Roth 401(k) lets you pay taxes now, so your money grows tax-free. If you invest $23,500 in one year and it grows at 10% (historical S&P 500 average), in 20 years that one year contribution could be worth over $150,000—completely tax-free. I’d rather pay taxes now on $23,500 than later on a $150,000. Psst now repeat that for 15 years.
• INVEST IN A DIVERSIFIED STOCK FUND. Index funds like the Vanguard S&P 500, Schwab Total Market, or Fidelity NASDAQ-100 are great ways to get started. You don’t need a finance degree or a lot of money—just start investing early and let time do its thing. $$$
• LIVE BELOW YOUR MEANS. Just because you can afford something doesn’t mean you should buy it. That extra $10,000 you could have spent on a new car? That could grow into six figures over time if invested wisely. Small sacrifices now lead to big rewards later.
• LEVERAGE ASSETS TO ACQUIRE MORE ASSETS. As your investments grow, you can use them as collateral for less costly loans to buy real estate, start a business, or expand your wealth like the ultra-rich do. Elon Musk didn’t sell Tesla stock to buy Twitter—he borrowed against it and got to have both. Learn how to use what you have to get what you want.

Time is Your Friend

Son, when it comes to earning and investing, time is your biggest advantage. The earlier you start, the less you have to risk, and the more your money can grow. You don't need a lot of money to begin, so no excuses, just do what you can. Even if you’re just stocking shelves or answering phones today, what you’re really doing is funding your future.

Most people don’t think about this stuff until they’re in their 30s or 40s—by then, they’ve lost the most valuable asset of all: time. Start now, and by the time you reach 30, you’ll either be well on your way to financial independence or wondering why you didn’t take action sooner.

And here’s the thing—it’s not about being rich just for the sake of it. It’s about freedom. The freedom to choose the life you want. The freedom to take risks. The freedom to say no to things that don’t align with your values.

I wasn’t given this advice at 18. But I’m giving it to you now. Live your dream.

(Disclaimer: I’m just a dad, not a financial advisor. Seek professional financial guidance before making investments!)