The ULTIMATE ADVICE For Every 20 Year Old! | Shark Tank's Kevin O'Leary

i wish for all of you a catastrophic failure something that makes you cry that you just want to sit in a dark closet for saying why did i do that how did that happen the idea that you're going to be successful in all your endeavors is complete bs and the key to that is every time you fail because there'll be more than once you have to learn from it you do not want to do that again beautiful day for a little hike in the mountains and i thought it would be just spectacular to do another episode of ask mr wonderful right on top here beautiful day i just took a little stroll up the mountain i thought it'd be terrific to do this a little fresh air a little relaxation but i got a great question here from robin let me read this to you hi mr wonderful i'm 25 years old i'm working in technology i'm wondering if i could ask you what are the five things i should be thinking about to be successful at my age and tech is not a bad place to be these days obviously so i'm assuming robin's got a good job but let's talk a little bit about the future so five things it's a great question five things well number one on the hit parade for me particularly if you're in your mid-20s is you've got to have a plan a plan about investing in yourself in other words you're starting your career you got to start thinking about how much money am i going to put aside each week that i'm going to invest for the long run so when i'm 65 i have my nest egg you don't know what life's going to bring you it's serendipitous anything can happen you don't know when you're getting married how many kids you're going to have whatever but you got to start in your 20s right now because it sounds like you got a job and i don't even care if you don't have a job whatever income you've got you've got to put some aside now the number i like to throw around all the time is a hundred dollars take a hundred dollars each week and invest it now the good news is there's all kinds of apps you can use you can download one you can link it to your bank account and you can start saving that's real important 100 bucks a week if the market does what it's done for the last hundred plus years make six to eight percent in the long run you're going to end up with a million and a half bucks in the bank i know that sounds crazy but it's true that's kind of what it does when you start to think about investing conservatively and compounding all that interest and dividends and everything else so that's number one on the hit parade think about that and make that a discipline 100 bucks a week you know i got to tell you robin you can do it it's not impossible all right number two this one's a little funky chicken but i've been thinking about it lately you have to have some kind of plan you know about your own self-care routine you got to think long-term about your body about what you eat and how you take care of yourself and the number one thing for me is your skin your face it's what people look at every day and if you're young and you think about this which means for me moisturizer and sun protection i've been doing that forever now i'm doing a plug a shameless plug for a company that i use called tiege hanley because they send me this stuff in a little box which i find very useful and i don't have to know how to use it but the one i'm always using moisturizer it's good spf 20 protection against the sun very important check out tiege hanley and get started for just 25 also they are offering my viewers a great deal just click the first link in the description to get a free toiletry bag with your first box you'd be amazed if you just think about that every day moisturizing and sun protection because you know everybody goes outside you walk somewhere you hang out whatever you're doing you go cycling you're on the beach you're burning you're frying your skin you're aging yourself prematurely it's not corny it's smart when you start doing this early in life you'd be amazed over the long term how this can help you so that's something you should really put some thought to i like these guys because i hate perfumey stuff and you know i've talked about them before i use them and i don't like to endorse products that i don't use so really it's about self-care it's a routine number three this is a little more complicated in your life you need to find a mentor someone you can go to that you respect that you can bounce ideas off because making your own decisions all the time you're going to find out without any kind of feedback you can be wrong and there's nothing wrong with another opinion another voice that you can listen to that would give you some great advice now you can change mentors as life changes as your circumstances change but you should have one in your life it could be an older brother could be a sister could be one of your parents could be somebody completely random my first mentor in business was a guy named jerry patterson who was actually a lawyer and a hockey agent a guy that would bring over russian hockey players to the original six in boston philadelphia detroit i mean how random can that be but he was really focused about business he gave me some great lessons in life and then later in life i turned to my stepfather george who was phenomenal in helping me through building you know some of my businesses and the point is was always somebody to go to and the great thing about a mentor is you know you can be completely honest with them generally they have your best interests at hand so that's very important that's number three now number four i have to be sure i put this the right way but it's important too is learning how to fail i wish for all of you a catastrophic failure why there is no lesson in life like failure the idea that you're going to be successful in all your endeavors is complete bs that never happens for anybody the most important lessons you can learn are from failure why that's the definition of experience failing getting up getting back at it getting back in the race is what experience is and the key to that is every time you fail because it'll be more than once you have to learn from it you do not want to do that again that's the whole idea the more you fail the better you become because you don't make those mistakes over again but i wish for everybody in a good way now that you understand it a catastrophic failure something that makes you cry that you just want to sit in a dark closet for saying why did i do that how did that happen and then you learn from it that's absolutely crucial you know i actually remember sitting in a dark room thinking about a mistake i made i think i i think i was like 15 years old but it you know these these moments in your life really stick and they help you grow all right next number five on the hit parade gotta find a partner in life it's not as easy as it sounds like i'm not going to give you marriage advice here or or you know whoever you're going to hook up with your significant other ends up being very important and they must be someone that understands you and you need to understand them because the the the romantic euphoria that is the part of the beginning of a relationship is spectacular and i've said this many times i wish that on everybody and some people continually fall in love and out of love just to get that high of the euphoria of of just the start of the relationship but that's not really the challenge the challenge is staying together not so easy and the reason you got to think about this is staying together is hard but you're building a foundation of trust a foundation of perhaps family an economic foundation couples that stay together build their lives together and they have similar goals financial goals life goals and that equity becomes very valuable over time it's not easy but in your 20s you think about if you want to have kids you got to start thinking when you're 25 years old robin you got to start thinking about okay how old do i want to be when i have my first child and look this is a problem that's been around for people for for the generations for thousands of years you got to think ahead because i one of my great regrets in life is i didn't get married till i was 36 and i didn't have children you know until i was 38 i wish i'd had them sooner i wish i'd made my decision earlier i can't change that but i'm giving you advice you asked me for it i wish i got married a lot earlier and i wish i'd started having a family a lot sooner because i would have enjoyed them even more and they've to me family is everything now and you'll find that too this is advice good bad or ugly it's your family and it becomes a big part of your life and your joys and your sorrows and everything else i don't want to get too sentimental here but you get the timing idea so if you can find that special person in your you know late 20s that ain't a bad thing that's a good thing and you have to think more about just you know the euphoria of romance you got to think long term is this the right person to hang with for the rest of my life it doesn't work out that way all the time and some people get married multiple times but you wish every time you started one it would be the one so the top five number one save ten percent of your salary invest for the long term number two master the art of really self-care it's an art it's a focus you take care of yourself it's very very important find a mentor always have one during your life you might change but find one there's nothing wrong with that and then of course fail hard at least once you've got to fail hard once you learn so much from it it's so crucial and lastly and this is a tricky one in life gotta find a partner someone that's in sync with you and hopefully for your whole life it'll make it far richer but they've got to understand who you are they have to understand you that's what matters so that's just some food for thought you know five things that you really should think about now in your mid-20s it's that easy they're going to be important today tomorrow next week but i think it's good advice now how you deal with it you have to decide on your own but i think all of these are things that i've learned were very important and even more important now that i can reflect on them if you like that video where did you see my next one don't forget to click right over here and subscribe

Channel: Kevin O'Leary

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Id: MP-4PCUyeFw

Length: 10min 43sec (643 seconds)

Published: Tue Dec 01 2020