Allen Wong is a young millionaire from the world of mobile app development. When he did an AMA (ask me anything) on reddit, he had some interesting things to say about growing up poor and becoming rich. While he does enjoy a jet-setting lifestyle and is the proud owner of a Lamborghini, he doesn't spend his money like you might think.
The AMA is great, but our favourite morsel from Wong appears in a reply on a post about, of all things, bathroom tiling where he lists his three favourite things about being young and rich: (1) considerable freedom, (2) the ability to help others in a significant way, and (3) trading money for time.
You control your schedule
Allen Wong loves his freedom, and frequently mentions that he hates alarm clocks. When you are an app-made millionaire, you can wake up whenever you want. No buzzing at 6 AM to hop in the car to get to the daily grind. No morning radio jocks talking about the traffic. Life is sweet when you can wake up on your own. Getting enough sleep is one of the easiest ways to live a better life, and Allen Wong is living the dream. If he stays up late eating New York pizza and gaming all night, he doesn't suffer when the morning rolls around. That's true wealth right there.
His second pillar of living the good life is helping others. It might sound insincere coming from a guy with an exotic sports car, but Wong's generosity goes deep. After using his earnings to help his mother recover from a mental illness, he now spends a lot of his time doing things for charity with his vast financial resources. Some of these include funding college tuitions for his friends' kids, selling Lambo rides for charity, generous tipping, and touring children's hospitals in his custom-made Iron Man suit. Using his money to ease the suffering of sick kids brings a lot of personal rewards, and it's an awesome way to enjoy your wealth as a young multimillionaire.
Trade money for time
The last thing Wong loves about being rich is the ability to trade his money for time. When he was growing up, he was always quick to spend less and wait more. Avoiding bridge tolls and waiting in long lines at the airport meant more money when he was poor and had nothing but time. Nowadays, Wong has preferred flyer status and speeds past the lines. I'm sure he doesn't worry about paying bridge tolls anymore, either. His parents raised him to be frugal, but he's the first one to tell you that time is the only thing money can't buy. Wong spends money to save time — an amazing luxury of the wealthy.
Like many millionaires who grew up without money, Wong still maintains some spending habits from his youth. He usually buys things on sale, and he still feels guilty about spending money on himself. When he travels, he goes with economy class. Wong could never shake his roots in living frugally. In his reddit post, he mentions that it's often hard for him to spend money without feeling like he's ungrateful for his wealth. He chooses to spend it on convenience, friends, travel, and charity instead of mansions and a fleet of Lamborghini sports cars. He does own one, but he doesn't drive it around much. Wong says that he doesn't attract girls as much as male car fanatics when he drives his fancy car around. Plus, he's afraid people might notice if he dares to pick his nose while they're admiring his gorgeous ride.
We encourage you to dig deeper into the information that Wong shares in his AMA. Anyone interested in living with wealth or simply enjoying their life more can learn a thing or two from Allen Wong.
We encourage you to share Allen's story with your friends for their thoughts. It's an amazing story, and his advice offers a unique perspective on life and how to live it.