We should all take a moment to appreciate the role of luck in our lives. I, for one, am a firm believer in the power of luck. Recognizing the lucky moments in our lives can bring us a lot of joy. I’ve always been an optimist and plan to stay that way for the next 100 years. Let me share a story about a lucky event that changed my life. Without this event, my life would be completely different. This story also reinforces my belief that a significant portion of our wealth can be attributed to luck. So, let’s count our blessings and always be grateful for what we have!
Back in 2001, the Nasdaq had just marked its one-year anniversary of hitting its peak, but it was down by 50%. I was wrapping up my second year as an analyst at GS, worried that I wouldn’t be offered a third year. I knew my chances were slim, as only the top performers were kept on. I felt out of place at one of the world’s leading investment banks. I was a public school kid who didn’t know how to dress up. I even got scolded by my VP for wearing a Hawaiian puka shell necklace my girlfriend had given me. I was the odd one out, and it took me 7 rounds and 55 interviews to land my job.
One day, while screening phone calls for my senior colleagues, I received a call from Jim, the Head of the Asian Equities business. He was calling from Hong Kong and wanted to speak to my boss, Tom. I managed to connect them, and I overheard them discussing whether to keep me on for a third year. I knew I should have hung up, but curiosity got the better of me. I heard Tom say that I was too distracted by my stock trading to be a good fit for a position in Taiwan. My heart sank. I knew my days at GS were numbered.
Knowing that I would be unemployed by June, I started looking for new job opportunities. I found a potential role at Bear Stearns’ Asian Equities desk. However, while waiting for a second round of interviews, I received another phone call. This time, it was from a guy named Michael, who offered me a job in San Francisco. I was ecstatic! I ended up accepting the offer, which included a promotion, a significant salary increase, and relocation expenses.
Looking back, that phone call was a turning point in my life. It led to a job that I held for 11 years and allowed me to build a strong network in the industry. I am incredibly grateful for that lucky break.
It’s easy to focus on the negatives, especially during tough times. But it’s important to remember and appreciate the good things that have happened to us. Writing about these experiences can help us remember and appreciate them more. I believe that the more grateful we are, the happier we will be.
I’ve also found that investing in real estate can be a great way to preserve and grow wealth. I’ve been investing in real estate since 1999, and I recommend it to everyone. It’s a stable asset that provides utility. I’ve personally invested in residential and commercial real estate in the Sunbelt, where rental yields are higher and valuations are lower.
As you build your wealth, it’s important to keep track of it. I use Empower, a free tool for tracking net worth, checking for excessive fees, and planning for retirement. I’ve been using it since 2012 and have seen my net worth increase significantly.
So, what are you grateful for this holiday season? I’d love to hear about your lucky breaks! If you’re interested in reading more finance-related stories, feel free to sign up for my free newsletter. You can also subscribe to my podcast, where I interview investors, authors, entrepreneurs, educators, freelancers, and anyone else who can help you live a better life.
