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 lifetime.

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 hit the gas and exchange 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 listen to me, this first bucket of gold can be 500,000, it can be 300,000, or it can even be your first 100,000. It represents the first time you truly mastered the weapon of capital, and how you treat it will determine whether you are the master of money or a slave to money for the rest of your life.

I have seen too many stories like this: 29-year-old programmer Xiao Zhang, with an annual salary of 600,000, saved 1 million in three years. Last year, while 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 extra 200,000." He divided the 1 million into three parts: index funds, dividend stocks, and NASDAQ. This year, with the market correction, he has an unrealized loss of 8%, but he is not worried; instead, he is increasing his position. Why? He calculated that with an annualized return of 7%, this 1 million will turn into 7.6 million in 30 years. Meanwhile, the colleague who bought the BMW, three years later, still has 320,000 left on the car loan, while the car dealer quotes 180,000. This is the ticket to compound interest; if you tear it up, you can never enter this wealth game again.

But the most terrifying enemy is not poverty, but consumption traps. It is the exquisite lifestyle that makes you look rich, and the instant gratification that makes you feel great. They are like gentle killers, giving you a one-way ticket to the abyss of financial ruin. You earn 30,000 a month and rent a 6,000 house, which isn't excessive, but you have to get the latest Apple device bundle, claiming that good tools are necessary for efficient earning. You spend 20,000 on a gym membership and personal training, justifying it with the idea that investing in health is investing in the future. You check in at Michelin restaurants and trendy afternoon teas every weekend, arguing that life should have quality. After a year, what do you have in your account? A few bags, several trendy brand items, and a pile of electronic products. Meanwhile, that colleague you mocked for being stingy stuffed their 200,000 bonus into stocks and funds. The first pot of gold you worked hard to save just evaporated in the lies of consumption upgrades.

Warren 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 the math: if a million dollars is spent today, it would grow to $29.4 million in 50 years if put into a compound interest machine. He has said that if you are not willing to own a stock for ten years, then you shouldn't consider 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.

Let me do the math 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 use it to buy a car, after five years that car will be worth 150,000, and you'll have lost 350,000. But if you invest that 500,000 into an investment portfolio with an annual return of 7%, and then add 100,000 every year, by the time you turn 60, how much do you think you'll have? Over 21.85 million. What does that mean? It means a passive income of 127,000 yuan every month, it means you no longer have to watch your boss's face, it means you can confidently say "I want to spend time with my child, I don't care about this awful class," during the years when your child needs companionship the most, and it means when your parents are sick, you can directly say "get 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 choice not to do what you don’t want to do. It’s choosing to spend Sunday with your children in the park enjoying the sun, rather than being in the office reviewing PPTs; it’s choosing to quit your job to travel the world, instead of worrying about next month’s mortgage; it’s choosing to age with dignity, rather than still asking at 65 where security guard positions are available. Ultimately, financial freedom is about the right to choose, but that right is earned through controlling desires and treating your first pot of gold well when you are young. Every cup of Starbucks you resist ordering for 30 bucks, every pair of AJs you don’t order, every time you grit your teeth and put your bonus into an investment account, these are not acts of austerity, they are your votes for the right to choose.

So, if you have the first hundred thousand, five hundred thousand, or one million, treat it like your newborn child, give it time, give it patience, and find it a good place. 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 anywhere 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. Instead of asking how much you can spend this month, ask how much this money will be worth in 30 years after investing. Stop comparing who has the more expensive car, and instead compete on who has the higher passive income. 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 lay down the foundation for your financial freedom.

In 30 years, when you are sitting on the balcony by the sea, and the numbers in your bank card are automatically depositing money into your account every month, you will thank the restrained version of yourself today. Now go check your account and ask yourself: Is this money meant to fight for my freedom, or to pay for someone else's performance?