Timothy Sykes Turned 12K into $5.6 Million And Why He Decided Being A Billionaire Is Overrated | Timothy Sykes
Play • 52 min

In this episode of the Millionaire Mindcast, we have a fantastic guest, Timothy who shares wisdom, insights, and knowledge about how to make a real difference, the importance of giving back, the role of education these days, stock market strategy, and the danger of earning a lot of money too quickly!

Timothy Sykes is an entrepreneur, a world traveler, philanthropist, trading teacher and influencer, millionaire trader, and co-founder of Karmagawa, a charitable organization dedicated to saving the environment, endangered species, and more.

 Through the Timothy Sykes Foundation, 35 schools have been built or are in development, in over a dozen countries around the world. He’s been featured in a variety of different media outlets, including CNN, CNBC, Fox Business, Fox TV, Forbes, Larry King, Men’s Journal, and Steve Harvey.

Before Tim got into the education world, he failed in growing his hedge fund not realizing that he didn’t have the rules and risk management. He was always drunk and lost all his industry credibility. Until he found clarity and shifted his life. The opportunity came to him and started teaching people online, helping and showing everyone his trades.

But Tim doesn’t teach people to be rich but teaches that success is in their failure. He makes video lessons on every single loss and mistake, as well as wins in trading. Shares photos, videos, knowledge, and posts that really hit people. Tim became a number one trader that earns a lot of money, as well as a mentor that he wished he had in the beginning.  

However, he realized that it’s not only making the biggest bank account but taking care of his passion, helping his family and himself, and helping the world, make an impact, and make a real difference. His goal is to build thousands of schools. Now, have built 70 schools so far, trying to help one emergency at a time, and help communities that are involved.

On the other side, despite this pandemic, Tim believes that this is the best time to educate yourself. It is by learning digitally and remotely. Take advantage and learn things to adapt to the new normal, and changes to do better. It’s always hard and messy in the beginning, but through sharing education in the world, nothing is impossible.

In addition, every single person must have a goal to achieve. and it's okay to change goals and adopt new things. Challenge yourself, and do what fulfills you and push yourself. Charity becomes his new challenge after achieving all the material things he has ever wanted. This year, Tim donated all his trading profits to charity.

But then warns that if you’re trying to get as much money as you can with nothing else, you might succeed but you will not be happy. It is using our humanity to our advantage rather than trying to do everything on your own and keeping other people out of your life. It is education, having heart, and really embracing and not ignoring our community!

 Some Questions I Ask: 

  • When did you start investing in the stock market? (00:12)
  • Where did it all start for you? (00:29)
  • What shifted in your life between then and now? (02:52)
  • How did you have these philosophical revelations and at an early age to have mental breakthroughs that served you on a high level?  (05:30)
  • You seem to have this optimism, where did that come from? (08:46)
  • What are you paying most attention to right now that kind of aligns with your philosophy? (10:53)
  • What are some of the missing tools in humanities’ tool belt right now that can serve us moving forward? (14:00)
  • How do we help people get more perspective? (17:52)
  • How did your charity Karmagawa Foundation come about? (20:14)
  • What is your big vision for Karmagawa? (21:37)
  • What’s one small thing that people could do that has a big impact when collectively done? (23:25)
  • What do you say to that person that is at that early stage of wealth building to create more wealth and income? (25:12)
  • What have been some of the gaps or shanks in your armor that you feel like you’ve been exposed in 2020 that you’re working on? (30:28)
  • What is your health, routine, lifestyle look like?  (32:09)
  • Is work ethic something that people can cultivate or something that you feel like is in your DNA? (34:25)
  • What’s your overall outlook on the stock market and talk a little bit about the stock market strategy? (35:16)
  • Are you more of a buffet guy based on your skillset or do you have some diversification outside of the stock market in your whole wealth portfolio? (38:20)
  • What is your definition of success? When you get to your death bed, what do you hope you look to see in that rear view mirror?  (41:28)

 In This Episode, You Will Learn:

  • Why it’s dangerous to make too much money too quickly (03:37)
  • Timothy’s rule number (03:51)
  • How technology and education overpower the bad (10:26)
  • Why some rich people get depressed (26:30)
  • Simple ways of giving back to the community without money (27:44)
  • One thing that Timothy has mastered in trading (35:43)

 Quotes:

  • “For my success is in my failure.”
  • “It’s about learning the process and staying disciplined. “
  • “Trading is all about You versus You.”
  • “I didn’t know what I didn’t know.”
  •  “We are the problem of so many issues but we’re also the solution.”
  • “If we start working together then amazing things are possible.”
  • “There’s no right way to get rich or one right way to get happy, you have to figure it out for yourself.”
  •  “Trading is very much like gambling.”

 Connect with Timothy Sykes on: 

Website

YouTube

Karmagawa

Instagram

An American Hedge Fund book by Timothy Sykes

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The thing that encompasses your product, your offer, your funnel, and your value ladder. Hit me up on IG! @russellbrunson Text Me! 208-231-3797 Join my newsletter at marketingsecrets.com ---Transcript--- What's up everybody, this is Russell Brunson. This is a late night edition of the Marketing Secrets Podcast, that's why I'm talking a little bit quieter because I don't want to wake up my wife and kids. But I was thinking about you guys, wanted to jump on and share with you a concept that I call 'the umbrella brand'. I may have mentioned this before in a podcast. And when someone joins my Two Comma Club X Coaching Program, it's one of the first things I tell them to do. Because so many times we get into business and we're thinking about a part of the business. We're thinking about a product, or we start thinking about an offer. 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But I just wanted you guys to think through this concept of an umbrella brand. Do you have one? It's cool because right now, there's so many cool new things coming out on the market. For example, Clubhouse came out, and for a long time I was like, "How do I play clubhouse? What do I do? How do I not do this? I've got to figure something out." But if I step back and look my umbrella brand, Marketing Secrets, like, "Oh, I could jump in there and just do a Marketing Secrets Clubhouse room." I jump in there and just say, "Okay, I'm going to share marketing secrets." What does that mean? It means anything. I'm going to share things about marketing that I like, that are exciting. I could bring guest speakers in and like, "Okay, tell me your number one marketing secret. Tell me your number one marketing secret." And it gets really, really fun, right? I can say like in this podcast, every week I'm like, "Hey, what's your marketing secret." What's something I want to talk about, what's something I'm learning. What's something I'm discovering, what's something I remember from the past, I want to share with people. I can just share that. If I have a blog post, I can do blog posts on different marketing secrets. And so this umbrella brand... I don't know, all these things fall off it. Somebody who was going to clubhouse and see, "Oh, there's a Marketing Secrets room. What is this?" They're going to jump in the room, they're going to learn some marketing secrets and they're naturally going to come back and be like, "Okay, Marketing Secrets is this brand that teaches a lot of marketing secrets." But then now it pushes people to a specific offer like, "Oh, I'm going to read a book called Dotcom Secrets or Traffic Secrets or Expert Secrets, or all the things that fit underneath that umbrella brand. This is funny, this is me telling on myself. 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