I’m convinced that if you wake up just one hour earlier every day for the next 10 years, you’ll not only accomplish far more, but also build significant wealth and unlock countless opportunities in life. Conquering the magic of the morning—while most are still asleep—will give you a massive edge.

I’m reminded of this truth because I failed to wake up early one morning, and it cost me at least $2,000 so far.

After I published my June 22, 2025 newsletter—discussing what I thought might happen to the markets following the U.S. bombing of Iran and what we should do—I failed to fully execute!

Here’s what I wrote:

Repercussions of War on the Markets

The stock market has a complicated but often surprisingly resilient relationship with war. So far, the Tel Aviv Stock Exchange and the Iran Tehran Stock Market Index have held up relatively well despite rising tensions.

Historically, markets have often digested the onset of conflict and refocused on earnings, monetary policy, and economic fundamentals—unless the war leads to prolonged uncertainty or global disruption.

Let’s hope diplomacy can re-emerge, but as always, we must prepare for a wide range of outcomes—both economically and personally. Here’s an another chart that highlights major conflicts and how the S&P 500 reacted.

Here’s how the Israeli and Iranian stock markets have performed. We’re talking all-time highs!

So the takeaway from this latest unfortunate event is simple: buy the dip—if there is one.

How I see the most likely scenarios playing out, in order of probability:

1) Bonds rally first, driving down interest rates. The stock market may sell off slightly in response to the initial uncertainty, but then recovers as yields decline and investors reposition for risk.

2) Both stocks and bonds rally. Risk-on investors anticipate more fiscal spending, increased certainty now that war has been declared, and potential windfalls in defense and energy earnings. Meanwhile, risk-off investors are still drawn to relatively high guaranteed yields, providing support for bonds.

I don’t expect both stocks and bonds to sell off simultaneously—but we’ll see how the market digests the news this week.

Another consideration is how the Trump administration approaches tariff negotiations. The majority of investors now believe Trump will back off on aggressive tariff hikes with continued delays. However, with the administration going from talks of peace a couple weeks ago to bombings this weekend, maybe our trading partners will be more ready to negotiate. That should be a net positive for the U.S.

Failed to Wake Up Early to Deploy Capital

Usually, I’m up no later than 5:30 a.m., reading the news and writing my thoughts on Financial Samurai before the stock market opens at 6:30 a.m. Pacific Time. I’ve been following this routine ever since I started working on Wall Street in 1999. It’s very helpful now with wife and kids, who wake up between 6 a.m. and 7:30 a.m.

On Monday, June 23, 2025, I woke up at 5:30 a.m. again to do the same. But there was just one problem—here in Honolulu, the U.S. stock markets open at 3:30 a.m., not 6:30 a.m. as it does in San Francisco!

Of course, I knew this beforehand. But after eight days in Honolulu, I had fully adjusted to the time zone. It also didn’t help that I played a couple of hours of pickleball Sunday morning, followed by another hour and a half of pickleball and tennis starting at 8:45 p.m. I was spent.

Because I didn’t wake up in time for the market open, I missed the opportunity to buy the dip in the first 10 minutes—just as I had predicted. By the time I got up at 5:30 a.m., the market had already ramped and then begun to fade, so I was uncertain on what to do.

I did manage to buy about $8,000 worth of stocks when the market gave up all its gains by 6:30 a.m. HST, but that’s it.

Time To Be A Father

By 7 a.m., my wife and kids were awake, and I wanted to spend time with them before I drove them to school, departing at 7:35 am. By the time I arrived at the Diamond Head pickleball courts at 8:15 a.m., the S&P 500 had ramped above 6,000 (+1%) and later closed at a high.

My original plan was to invest $100,000 of idle cash, but I didn’t execute because I didn’t wake up early enough and chose to focus on father duties. Had I followed through, I would have been up at least $1,000 that very day on my new position alone. The next day, I would have been up another $1,200 as the market continued to jump higher.

Wake up earlier because family, hobbies, and outside responsibilities will distract you from making maximum money.

Thoughts Are Useless Without Action

I share my thoughts every week in my newsletter and publicly on Financial Samurai. And I’ve always tried to take action based on my beliefs. But this time, I barely did—due to a lack of discipline and a failure to adapt quickly to a new environment.

Hawaii is a fantastic place for early risers, especially in the summer when it gets uncomfortably hot by 10 a.m. However, as a capital allocator, you need to be up at an unnaturally early hour—before 3:30 a.m. local time—and be sharp. Otherwise, you risk missing opportunities.

You can come up with all the investment theses you want. But if you don’t take action based on your convictions, your thoughts are meaningless. You will not have a chance to make money.

Yes, for the most part, you should buy and hold index stocks forever. But if you want to potentially outperform the masses who do with the experience and knowledge you have, you should try and take further action.

Most people aiming to achieve financial independence don’t have the luxury of being paid millions as Wall Street strategists to be wrong. We don’t get paid for analysis. Instead, we get rewarded only when we actually put our precious capital to work, generate passive income, and earn returns that enable us to stay free.

Hard To Be An Effective Stay-at-Home Father and Investor Without Rising Early

From April 2017 to June 2025, I considered myself a stay-at-home father, alongside my stay-at-home wife. But during that time, I also managed all of our family’s investments—a role that sometimes feels like a full-time job. In addition, I’ve written over 1,200 articles on Financial Samurai, and published two national bestselling books, Buy This Not That and Millionaire Milestones.

So in reality, I wasn’t a traditional, fully dedicated stay-at-home dad. I still had a strong desire to do something productive beyond fatherhood. The only way I could make it all work was to wake up earlier—to write for a couple of hours before the family woke up. Then, I’d reply to emails and comments sporadically throughout the day, and often put in another one to two hours after the kids went to bed.

I wasn’t satisfied with only full-time parenting. So I extended my day to get more done. There were definitely moments when I wondered how much more I could accomplish if I didn’t have childcare responsibilities. But in the end, I found a happy medium: writing 15–20 hours a week and then spending time with family.

Being OK with this dual role of being both a writer and a stay-at-home dad likely stems from my experience getting an MBA while working full-time in banking. I was putting in 60 hours a week at the office and another 20 hours on school for three years straight. I knew what was possible, so I just kept going.

Since the pandemic, plenty of people have taken on two full-time remote jobs to double their income—simply because they can. The notion that we must work only 40 hours a week and get eight hours of sleep every night is, in many ways, an artificial construct.

The Hidden Danger of Always Waking Up Before the Sun

Time is your most precious commodity, and since none of us knows how much we have left, waking up early is a hedge against an early death. Waking up one hour a day literally gives you 15 extra days to live a year.

It gives you a head start, helps you accomplish more, and can lead to a richer, more fulfilling life. If you get sleepy during the afternoon because you’re getting up so early, try to take a nap somewhere.

But there’s a hidden danger in always being the one who rises before the sun: resentment—both from others and eventually, perhaps, from yourself.

If you work a traditional job, colleagues or subordinates may begin to resent your 5 a.m. emails or your consistent early productivity. It can create unspoken pressure on them to rise earlier than they’d like or work longer hours than they believe is fair. Over time, this quiet tension can grow.

But perhaps the most emotionally charged form of resentment comes from your significant other. If they consistently wake up one, two, even three hours after you, they may start the day feeling behind—while you’re already fully in gear. Even if your early rising is partly for their benefit, they may feel guilt, stress, or frustration that unintentionally erodes your relationship.

You Could Start Resenting Late Risers Too

In turn, you may begin to resent them for sleeping in. You might wonder why they can’t just wake up just 15 minutes earlier to better prepare for the day, instead of always rushing to be on time. On weekends, you may feel out of sync—ready for a morning hike while your partner is still in dreamland. If you’re both retired, drastically different schedules could slowly create emotional distance instead of deeper connection.

So be mindful of the downsides of waking up much earlier than your peers or life partner. You probably know by now that “I’m not a morning person” is often just a convenient excuse for not wanting to get up early. It’s no different from someone saying, “I’m not an exercise person” when they never go to the gym or for a jog. We can find excuses for anything if we want to—it’s what we do with our time that defines who we are.

If you do rise more than an hour before your partner, remind yourself that the true reward is intrinsic—clarity, peace, and purpose—not validation or praise. Stay grounded in your why, and use your extra time to strengthen your life, not create quiet divisions within it.

If the tension between you grows too great, your partner may eventually make an effort to wake up earlier to preserve the relationship. But if they don’t, it could be a sign that they’re not willing to meet you halfway. Remember, you can’t change people until they want to.

Get Into the Habit of Waking Up Earlier For Your Sake

If you want to build more wealth and accomplish more in life, start by waking up earlier. Work while the world sleeps. In the quiet hours of the morning—without distractions—you’ll unlock a level of productivity that’s hard to match.

No more rushing to get out the door. Early mornings give you the time and mental space for deep focus. Whether you’re working on a side project, learning a new skill, or building a business, your progress will accelerate.

Life will conspire against you to build wealth—through hobbies, family obligations, and unhealthy distractions. Don’t let it.

If you want to outperform the average person, start your day before they do. Stay consistent, and in 10 years, you’ll likely surpass even your own expectations of what’s possible.

Readers, why do you think more people don’t wake up earlier to get things done? With only 24 hours in a day, why spend a third of it sleeping? Wouldn’t you rather wake up early, knock out important tasks, and gain momentum before the workday starts or your kids need you?

Suggestions To Build More Wealth

Pick up a copy of my USA TODAY national bestseller, Millionaire Milestones: Simple Steps to Seven Figures. I’ve distilled over 30 years of financial experience to help you build more wealth than 94% of the population—and break free sooner. Most people don’t read personal finance books, which puts you at a distinct advantage if you do.

Track your net worth for free with Empower, a financial tool I’ve trusted since 2012. Their investment tools make it easy to see your overall asset allocation and spot any excessive fees dragging down your returns.

If you have over $100K in investable assets (savings, investment accounts, 401ks, IRAs,) and want to get a free financial check up from one of their professionals, you can sign up here.

The statement is provided to you by Financial Samurai (“Promoter”) who has entered into a written referral agreement with Empower Advisory Group, LLC (“EAG”). Click here to learn more.

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Background: I’ve been investing in stocks since 1996 and spent 13 years working in equities at Goldman Sachs and Credit Suisse. Today, I manage an eight-figure public investment portfolio that helps cover my family’s living expenses. I founded Financial Samurai in 2009, and it has grown into one of the leading independently owned personal finance sites in the world. Everything I share is grounded in firsthand experience and real-world knowledge. For more information, check out my About page.

Have you heard of the no-spend chalenge? It’s a popular concept among budget-minded and minimalist bloggers who encourage us to save more and declutter our lives. The idea is simple: stop spending on non-essentials for a set period and see how much you can save. The more you save (and invest), the sooner you’ll achieve financial freedom.

For the most part, I haven’t needed to try it. I don’t buy much aside from athletic gear that wears out every 6–12 months since I play a lot of tennis and pickleball. The last time I bought a pair of jeans was over a decade ago, and I can’t even remember the last time I bought a dress shirt.

Since 1999, I’ve averaged a ~50% saving rate. During my final year of full-time work, I pushed it to 80% to prepare for my exit. So while I’ve always been frugal, I’ve never done a formal no-spend challenge.

But if there were ever a time to try one, that time is now.

Let’s Give the No-Spend Challenge a Go

Here are some compelling reasons to take part:

• Inflation expectations are rising, meaning goods and services will likely keep getting more expensive. Adjusting now helps you adapt.
• There’s a ~30% chance of recession or stagflation over the next 12 months due to ongoing trade tensions and geopolitical uncertainty. As a result, you could get laid off and struggle to find work for an extended period of time.
• The stock market is priced at ~22X forward earnings, which makes it vulnerable to another correction. Holding more cash gives you options.
• You may have missed buying the dip. Saving now gives you a chance to be ready for the next one.
• You’re underinvesting in your children’s financial future. A no-spend month can help redirect funds to Roth IRAs, custodial accounts, or 529 plans.
• You’re working to become a wealthy Bank of Mom and Dad, giving your children a stronger launchpad for the future.
• Your local housing market is slowing, with overbuilding and persistently high mortgage rates. Grow your down payment to take advantage of better deals.
• You might be living paycheck to paycheck due to recent lifestyle inflation or a big-ticket purchase. A spending reset helps rebuild your liquidity.

More Reasons to Try a No-Spend Challenge

If the above practical reasons aren’t good enough to help you curb spending, here are some other reasons worth considering.

• Test your financial resilience before life forces you to.
• Strengthen your money discipline. It’s a muscle. The more you flex it, the stronger it gets.
• Reset your baseline for happiness. You may realize you don’t miss spending nearly as much as you thought.
• Reduce decision fatigue by eliminating what to buy — and focus energy elsewhere.
• See if you truly need to earn as much as you do. When I left work in 2012, I made ~80% less for the first two years (excluding my severance package, which I invested 100%). But because I had been saving 70%–80% of my income for years, my lifestyle wasn’t impacted. In fact, it dramatically improved. I felt freer, less pressured, and had time to mentally and physically heal.

Challenge Duration: Minimum 3 Months

Anyone can do something difficult for a week. But to really change behavior, a challenge needs to last at least three months – long enough to form new habits and make meaningful progress.

Here’s what I’m cutting out for at least three months:

• Cheeseburgers, potato chips, French onion dip, candy
• Tennis shoes so I can finally go through my inventory
• Haircuts (I’ll use clippers and do it myself)
• Flights nicer than Economy
• Budget-busting vacation rentals
• Electronics (laptop, phone, earbuds, games)
• Household labor for primary home or rentals (gardening, cleaning, etc.)
• In-game purchases, e.g. Pokémon Go coins

Of course, I’ll still spend on necessities: shelter, insurance (health, life, property, auto, umbrella), grade school tuition, and basic food. I will also spend what’s necessary to make my parent’s ADU unit inhabitable again, such as buying a new fridge and range.

However, the extra savings will go directly into stocks, Treasury bonds, private real estate, and venture capital. My goal is to reduce discretionary spending by at least $1,500 a month, or $4,500 during this challenge.

With AI innovation picking up speed again, I want to invest as much as possible now. One of the easiest ways I’m doing this is through Fundrise Venture, which has exposure to top-tier AI companies like OpenAI, Anthropic, Databricks, Anduril, and more.

If You’re Saving Less Than 20% Of Your Income…

You’ve got a huge opportunity.

To build financial freedom faster, aim to max out your tax-advantaged retirement accounts and save an additional 20% or more. If you earn under $100,000 a year, that might feel tight, but try it. You may surprise yourself with how little you actually need.

If you’re already saving 20%, challenge yourself to bump it to 25%–30% during this no-spend period. Saving that much means every year you work and save could buy you 3–4 years of freedom in the future.

Savings Rate Chart For Financial Freedom

To motivate you to save more, check out this financial freedom savings rate chart. Just bumping up your savings rate by 5% can shave years off your working life.

If you can push your saving rate to 50% or more, you could retire within 20 years of starting your career, and probably even within 10 years from today. My chart doesn’t include potential investment returns, which accelerates your path to financial freedom.

Believe me, you’ll adapt quickly to living on less. Don’t be afraid to spend less now in exchange for freedom later. Achieving financial independence requires tough choices, but once you make them and look back, they won’t feel so tough after all.

When I look back at my net worth progression, I’m often surprised by how much it’s grown after several years of strong investment returns. It doesn’t seem real, and I end up double checking the figures a lot. You will be just as amazed by how powerfully your net worth can compound over time.

If You Want to Cheat on the No-Spend Challenge

There’s a loophole, but only if you earn it. If you just can’t resist spending on something non-essential, you’re allowed to cheat only if you generate extra income through a side hustle or a smart new investment.

For example, if I want to splurge on first-class tickets to Honolulu, I’d need to earn an extra $1,200 per person, perhaps through personal finance consulting or teaching tennis. By coupling the challenge with earning, I’ll always be mindful of whether the extra spending is truly worth it.

So, will you join me? What are you willing to cut back on?

Let’s take on a no-spend challenge and see where it leads.

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With interest rates rising, now’s a great time to earn more on your savings. CIT Bank’s Platinum Savings account offers top-tier rates on balances of $5,000 and up (4.1% currently), with no monthly fees and full FDIC insurance. Make the most of your idle cash. Affiliate partner of Financial Samurai.

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