Learn finance in a Bear Market.

Please take good care of your first million, as it can determine whether you can truly achieve financial freedom in your life.

When you first hold that million in cash in your hand, will you turn it into the first brick of your wealth empire, or will you step on the gas and trade it for a luxury car that depreciates faster than your heartbeat?

I know what you're thinking: 1 million? I don't even have 100,000 in savings. But hear me out, this first pot of gold can be 500,000, it can be 300,000, or even your first 100,000. It represents the first time you truly mastered the weapon of capital, and how you treat it determines whether you are the master or the slave of money in this life.

I have seen too many stories like this: a 29-year-old programmer named Zhang, with an annual salary of 600,000, saved up 1 million in three years. Last year, when his colleagues all switched to BMWs, he drove that second-hand BYD. Some laughed at him for being stingy, and he said, "Every year I drive this broken car, my account earns an additional 200,000." He divided the 1 million into three parts: index funds, dividend stocks, and Nasdaq. This year, with the market correction, he is down 8%, but he is not worried; instead, he is increasing his positions. Why? He calculated that with a 7% annual return, in 30 years, this 1 million will turn into 7.6 million. Meanwhile, that colleague who bought the BMW, three years later, still has 320,000 left on his car loan, while the dealer offers 180,000. This is the ticket to compound interest; if you tear it up, you will never be able to enter this wealth game again.

But the most terrifying enemy is not poverty, but the trap of consumption. It is the exquisite lifestyle that makes you look wealthy, and the immediate satisfaction that makes you feel ecstatic in an instant. They are like gentle killers, giving you a one-way ticket to the abyss of financial ruin. You earn a monthly salary of 30,000 and rent a 6,000 house, which is not excessive, but you must equip yourself with the latest Apple devices, justifying it by saying that good tools are necessary for efficient earning. You spend 20,000 on a gym membership and personal trainer, reasoning that investing in health is investing in the future. Every weekend, you check in at Michelin-starred restaurants and trendy afternoon teas, claiming that life should have quality. After a year, what have you gained in your account? A few bags, some trendy brand items, and a bunch of electronic products. Meanwhile, that colleague you mocked for being stingy has stuffed that 200,000 bonus into stocks and funds. The hard-earned first pot of gold has evaporated in the lies of consumption upgrades.

Buffett, the man who understands money the most on this planet, do you know how frugal he is? The house he lives in was bought for $30,000 in 1958, and the car he has driven for decades is an ordinary Cadillac. It's not that he can't afford a mansion, but he knows that if he spends a million today, it could grow to $29.4 million in 50 years if invested in a compound interest machine. He once said that if you are not willing to own a stock for ten years, then don't even think about owning it for ten minutes. The same goes for your money; the first pot of gold is not meant to be spent, but to generate more money.

Come, let me do some calculations for you, I guarantee you won't be able to sleep tonight. Suppose you are 30 years old this year, and you have your first 500,000. If you spend it on a car, after five years that car will be worth 150,000, and you will lose 350,000. But if you put that 500,000 into an investment portfolio with an annual return of 7%, and then invest an additional 100,000 every year, by the time you reach 60, guess how much you'll have? Over 21,850,000. What does that mean? It means a passive income of 127,000 yuan per month, it means you no longer have to worry about your boss's moods, it means during those years when your child needs your companionship the most, you can confidently say "I want to be with my child, skipping this terrible class is fine", it means when your parents are sick, you can directly say "to use the best medicine", instead of squatting in the hallway for crowdfunding.

True financial freedom is not about being able to buy whatever you want, but rather about having the freedom to choose not to do what you don't want to do. It's about choosing to spend Sunday with your kids in the park enjoying the sun, rather than sitting in the office presenting a PPT; it's about choosing to quit your job to travel the world, rather than worrying about next month's mortgage; it's about choosing to age with dignity, rather than being 65 and still asking where to find security guard jobs. In essence, financial freedom is the right to choose, but that right is earned through your ability to restrain desires when you are young and treating your first bucket of gold well. Every cup of 30 yuan Starbucks you resist ordering, every pair of AJ shoes you don't buy, every time you grit your teeth and put your bonus into your investment account, these are not acts of asceticism; they are your votes for the right to choose.

So, if you have your first hundred thousand, five hundred thousand, or one million, treat it like your newborn child, give it time, give it patience, and find a good place for it. Don't let it go to luxury car dealerships, don't let it go to luxury goods counters; let it go to the stock market, to funds, to bonds, to any place that can make it work for you 24 hours a day. Let money work for you, instead of you working for money.

Change your perspective on wealth starting today. Don't ask how much you can spend this month, but rather how much that money will be worth in 30 years after investing. Don't compare whose car is more expensive; instead, compete on whose passive income is higher. Don't envy others' glamour; quietly build your own compound interest empire. Remember, your first bucket of gold is your soldier, not a tribute for your enjoyment. Send them to the battlefield to carve out your financial freedom.

30 years from now, when you sit on the balcony by the sea and the numbers in your bank card automatically send you money every month, you will thank the version of yourself today that restrained your desires. Now go check your account, and ask yourself: Is this money fighting for my freedom, or paying for someone else's performance?