How to Create and Grow Real Wealth the Right Way With Tim Sykes

Timothy Sykes is a stock trader who turned his $10,000 Bar Mitzvah money into $4,000,000 through exposing the losing game of penny stocks. He then went on to found Profit.ly a community of 84,000 traders, and run a leading trading coaching program called Millionaire Trader

Favorite Success Quote

“Be patient be dedicated and realize that it’s a marathon not a sprint.”

Key Points

1. Challenges Make Life Worth Living

You will often hear personal growth gurus and “enlightened” philosophers espousing the belief that “Life is a journey not a destination.”

As cliche as it sounds, anyone who has ever achieved “real” success in life knows it to be true.

Achievement is incredible. Reaching your goals is exhilarating. Finally feeling like you are “Making It” gives you a buzz that no substance can compete with.

But it doesn’t last…

Because as human beings, we have evolved to constantly seek new challenges and accelerate the old status quo.

Challenges are what make us come alive, they are what give us meaning, and they are, when it’s all said and done, what life is truly about.

You were not meant to earn a million dollars and then retire on an island in the sun.

You were meant to innovate, to find new ways to stretch yourself and progress your life.

And when you understand this… Everything changes.

You will no longer see challenges as a “Bad” thing. You will no longer view hardship as a problem.

You will realize that overcoming challenges is ultimately what will give your life meaning and purpose.

2. Money Might Make You Happy but it Won’t Keep You Happy

When you take the previous point a step further and apply is specifically to money, you will realize that the age old adage “Money can’t buy happiness”, while technically untrue, has its merits.

Money can buy happiness and pleasure.

Anyone who tells you otherwise is either lying or has never actually had any money.

Knowing that you never have to work again, knowing that you have absolute freedom, knowing that you can do what you want, when you want, with who you want will make you happy.

But it isn’t enough to keep you happy.

Eventually, you will get bored.

Regardless of how much money you have, if you are not growing and challenging yourself on a daily basis, you will eventually feel stagnant and depressed.

This is why most successful entrepreneurs who take a few years off after a big I.P.O. (thinking that they’re done for good) return to the game almost as quickly as they left it.

Money might make you happy, but it won’t keep you happy.

You need to use it to help others, explore new challenges, and push yourself to grow and evolve.

3. Stretch Yourself and Shoot for Big Goals 

When I was surfing through Quora the other day, I saw a very generic question asking “How can I make a million dollars by the time I’m 30?”

Personally, I felt that this was a ridiculous and arbitrary question.

However, when I started looking through the answers, I saw a response that caught my eye.

The most popular answer in the entire thread started out by posing a counter question, “Why are you playing so small? Why not shoot for something bigger?”

During my conversation with Timothy, he shared a very similar belief.

Over the past few years, Tim has been building schools with a charity called Pencil’s of Promise and he’s already donated in excess of $1,000,000 helping fund 30+ school builds.

However, for Tim, this is just the tip of the iceberg.

His goal is to build over 1,000 schools in the coming years… A $35,000,000 undertaking.

While we were talking about this project, he admits that this is a huge goal and that it’s entirely possible that he will never reach it.

However, it’s the thrill of having something so big to shoot for that keeps him going.

In your own life, how can you 10X your goals to push yourself and get excited?

How can you set a vision and a dream so big that you are thrilled to jump out of bed every morning and pursue it?

Remember, if you aim for the moon you may hit a stump.

But if you aim for a stump… You might miss.

4. If You Don’t Know what You Want to Do, Do Something 

We live in an age of such unprecedented opportunity and possibility that our society has succumbed to something called “Analysis by paralysis”.

Basically, people have so many freaking options to choose from that they can never choose one thing.

If you recently graduated high school or college and had only a few thousand dollars to your name, you could realistically dive into about a dozen different businesses in hundreds of different niches.

For the first time in human history, just about anyone who lives in the Western world has the ability to be and do whatever they want (if they put their minds to it).

The only problem is, most of us don’t know what we want.

So we wander aimlessly, afraid to take action and step into the unknown.

But I’m here to tell you… Just take action.

Just do something even if it’s the wrong thing.

As long as you are making moves, you can pivot and change later down the line to ensure you are making the right moves.

But if you are standing still… You’ll never get anything done and you will never achieve the success you are looking for.

5. The Game Isn’t Over Until It’s Over 

One of the most common questions and concerns that I see on the Knowledge for Men Facebook page, in my Quora feed, and even in the inquiries that are sent to my inbox is this…

“Andrew, I’m [insert age]… Am I too old to start a business, meet the woman of my dreams, achieve my ideal body etc. etc.?”

The answer?

Of course not!

If you still have breath in your lungs, then you still have time to pursue your dreams.

Some of the most successful and prolific entrepreneurs didn’t get started in business until their 50’s, 60’s, and even 70’s.

Many more didn’t achieve the success that they truly wanted until a few years before their death… But they did achieve it.

The game isn’t over until it’s over.

It’s never too late to go after your dreams and do the things that you truly want to do.

And it’s never too early.

So step up and embrace this.

Go for the things that you want in life regardless of your age or experience.

If you are on this planet and you are still alive, then you’ve got time to make it count and achieve your dreams.

The only question is, will you take action or not?