Hello Aspiring Chillers,

Where to Invest:

1. Education

2. Retirement Accounts

3. Stocks

4. Real Estate

5. Crypto

6. Buying a small business

7. Starting my online business

As I have stated in the past I think this is the single most important investment you are ever going to make. It will change your trajectory 10-fold if you make an investment in yourself before the market. Figuring out exactly where to make that investment is the tricky part.

Education Background

Let's set the stage. Before pursuing formal education, my only job was umpiring youth baseball. Having played baseball through college, there wasn't much time for a conventional job amidst training and school.

Like many others, I entered university with no clear idea of what I wanted to do with my life. However, I enjoyed learning despite detesting the bureaucratic aspects of school, such as tests, lazy teachers, and group projects. Inspired by my father's success in accounting, I decided to follow in his footsteps, only to realize three classes shy of graduation that I despised it. Fortunately, I had also chosen to double major in Finance, which required only six additional classes due to the significant overlap between the two fields.

After graduation, I collaborated with a professor on a paper about high-frequency trading, which introduced me to programming with R. This sparked a new passion in me, leading me to pursue a minor in Computer Science. To fund my studies, I worked as a valet, earning $8 an hour plus tips—a humble income for someone with two degrees, but the schedule allowed me to attend school during the day and work at night.

With my minor completed, I moved to Chicago to pursue a master's in Game Development. Two months into the program, I landed a job at a trading firm that offered the opportunity to start coding after six months of trader training. Eventually, I paused my Game Development degree to focus on my job, later leveraging my position to partially fund a master's in Data Science.

I share this story to illustrate how, at the time, college seemed like the best path to success. However, there are more accessible and affordable ways to achieve similar goals, especially with coding. Platforms like YouTube, Udemy, and Masterclass offer a wealth of resources, often for free or at a low cost. In fact, I've spent the last eight years learning for over an hour a day on YouTube, accumulating at least 6,000 hours of content at double speed.

Becoming a professional through YouTube and other non-traditional courses is possible, but it requires discipline, a genuine desire to succeed, and an understanding that there's no better time to start than now.

Why Learning over Earning

The ultimate goal is to maximize earnings over an entire career, not just in the short term. Delaying gratification by investing in growth opportunities can lead to greater long-term financial success. For example, my decision to go back to school for a computer science degree significantly impacted my career trajectory.

I use programming as an example because it's what I know best, and it's a high-paying career path. However, there are plenty of other fields where learning and excelling can lead to substantial financial rewards. Take some time to reflect on the following questions:

• Am I doing what I love, or am I just doing it because of circumstance X?

• What skill could I add that would take me to a higher income job or profession?

• What skill does the person ahead of me have that I don’t? (If you don't know, go and ask them!)

• Would switching companies or industries fetch me more cash? (People who switch jobs every two years tend to make 50% more over their career.)

• Should I consider a different path altogether? (80000 Hours is a great resource if you're unsure about your career direction.)

Learning new skills is challenging, and it requires dedication and effort. Nothing in life is free; you'll pay with either time or money. If you don't have a lot of money, be prepared to invest a lot of your time. It is worth it but it takes work.

Cash in!

Eventually, the focus should shift from learning to maximizing earnings based on your skills. In theory this is when you would look to maximize your earnings instead of looking for growth related opportunities. This stage may feel less rewarding than the learning phase, as it often involves being pushed to your limits. It's crucial to ensure you're ready for this transition. Prior to this stage it is okay to leave some money on the table for better opportunities.

For a more detailed perspective on my views regarding college versus alternative forms of learning, I recommend watching the 25-minute video I shared in last week's article.

Look forward to next week where we are going to deep dive on retirement accounts!