The post is basically a summary of the youtube video – https://www.youtube.com/watch?v=ghO87MHWims.
Summary
This video chronicles the journey of two Singaporeans who quit their traditional jobs in their mid-20s to pursue early financial independence and a life of travel. They introduce the concept of “you money,” which is the minimum amount of money required to live a fulfilling life without being tied to employment. Their story spans from age 16 to 26 and emphasizes practical lessons in mindset, risk-taking, and financial strategies rather than conventional long-term investing advice.
Key Insights and Lessons
- “You Money” Concept:
Defined as the amount needed to start living life on your own terms without relying on a paycheck, highlighting that job security is an illusion in today’s economy, especially with frequent layoffs. - Early Career and Education Choices (16-18 years):
- Chose Polytechnic education over Junior College (JC) to acquire practical skills rather than following traditional academic paths.
- Took on part-time jobs and side hustles (e.g., teaching pizza-making workshops, waiting tables) to learn the value of money and entrepreneurship.
- Early experiences exposed legal realities of work contracts, prompting smarter job decisions.
- Launched a first business in baking, which initially failed but pivoted successfully to custom cakes and later baking workshops.
- Business and Hustle Mindset (19-21 years):
- Transitioned from product sales to scalable services like baking workshops, multiplying income by teaching multiple clients simultaneously.
- Learned negotiation, marketing, and distribution skills.
- Balanced entrepreneurship with full-time university studies and military service.
- Developed a passion for building and running businesses.
- University and Internship Focus (22-23 years):
- Emphasized the importance of early internships, even if low-paying, for skill-building, networking, and salary compounding.
- Adapted to COVID-19 challenges that led to the closure of their baking business.
- Pivoted into UX design internships, capitalizing on emerging industry trends to rapidly increase income.
- Darren started with startups, then moved to larger companies, building valuable experience.
- Purchased their first home as a long-term investment, benefiting from property appreciation (~10% yearly).
- Career Advancement and Strategic Choices (24-26 years):
- Focused on accelerating promotions using skills gained from previous hustles.
- Made a deliberate choice to skip an honors year in university to start working and earning earlier, resulting in significant financial gains (estimated extra SGD 200,000 combined).
- Built a financial runway sufficient to quit full-time jobs and travel by age 26.
- Cited inspiration from other Singaporean travelers who took unconventional paths.
- Mindset and Risk-Taking:
- Risk-taking is described as a muscle that requires repeated practice through smaller bets (e.g., education choices, business attempts, job decisions).
- Each successful risk builds confidence for the next.
- True wealth is not just money but the growth in one’s ability to make decisions, handle uncertainty, and maintain composure.
- Maintaining a clear personal goal simplifies life and reduces harmful comparisons to others.
- Environment is crucial; they emphasize surrounding oneself with people who embody the desired lifestyle, filtering out negativity.
- Current Status (After One Year of Full-Time Travel):
- Although their net worth technically puts them in the millionaire category, their passive income only covers basic expenses (mortgage, insurance, food).
- They continue budgeting, planning, and seeking new ways to grow wealth.
- Financial freedom is viewed as a starting point, not the end goal.
Timeline of Major Events
| Age Range | Key Events & Actions | Insights/Outcomes |
|---|---|---|
| 16-18 | Chose Polytechnic over JC; worked part-time jobs; started first baking business | Learned value of money, legal realities, and entrepreneurship fundamentals |
| 19-21 | Pivoted from baking cakes to workshops; balanced business with university and army | Scaled income through workshops; gained marketing and negotiation skills |
| 22-23 | Closed baking business due to COVID; started UX internships; Darren joined startups and Shopee | Developed in-demand skills; increased income; purchased first home |
| 24-26 | Focused on promotions; skipped honors year for work; built financial runway | Earned higher income sooner; accumulated enough savings to quit jobs and travel |
Quantitative Highlights
| Metric | Value/Description |
|---|---|
| First baking workshop price | ~$80 per cake |
| Hourly wage at Subway (initial) | $6 per hour |
| Negotiated Subway contract wage | $6.50 per hour (legal contract at age 16 was invalid) |
| Hourly wage at bar job | $10 per hour |
| Home appreciation rate | ~10% per year |
| Estimated additional earnings by skipping honors year | SGD 100,000 per person (SGD 200,000 combined) |
Core Concepts
- Financial Independence through Early Hustles: Use youth and low responsibilities to experiment with jobs and businesses.
- Pivoting and Flexibility: Failure is a learning opportunity; pivot quickly to more scalable or profitable ideas.
- Skill and Network Building: Internships and side projects compound over time to increase career value and earning potential.
- Calculated Risk-Taking: Regularly challenge norms and take informed risks to accelerate growth.
- Goal-Oriented Living: Define personal goals clearly and align lifestyle choices accordingly, avoiding social comparison.
- Environment and Mindset: Surround yourself with supportive, like-minded individuals to foster success.
Conclusion
This video offers a realistic, step-by-step blueprint for early financial freedom rooted in practical experiences rather than hypothetical or long-term passive investing. The creators emphasize the power of early experimentation, continuous learning, and strategic risk-taking while maintaining a clear vision of personal goals. Their journey underlines that financial independence is not merely about money but about evolving into a confident, decisive individual capable of designing a life on their own terms.
