Where did you grow up and what was your childhood like? Did you have any particular experiences/stories that shaped your adult life?

I grew up in a small town in Hungary, in a lower-middle-class concrete jungle. My parents got divorced when I was around ten. I stayed with my mother, and we were living paycheck-to-paycheck, while my father became a very successful entrepreneur through hard work. Experiencing this stark contrast, I decided early on that I wanted to make a lot of money, for which I was willing to work my socks off. My ultimate goal, however, was to get that money working for me so that I could live off of passive income instead of a life-long grind that permanently erased the smile from my father’s face. 

This experience made me become a serial entrepreneur, and start off as an income-focused stock investor as soon as I had some money to invest. I came a long way since then. Although I still consider the dividend an important component of the total return formula, today I’m taking a much deeper look at the companies I invest in, as you can read in my FALCON Method book.

As for additional defining childhood experiences, I was always the weak-looking, skinny boy at school. Later, when things temporarily went south in my professional life, all these ailments came to the surface to torture me. I decided to take on a crazy adventure to break out of my self-constructed cage and prove myself “in the realm of manhood.” Earning the Ironman title was my goal, for which one has to complete a 140.6-mile triathlon race within a given time limit. I couldn’t swim properly (I had a paralyzing fear of water, to be more exact) and didn’t even own a bike when I made the decision. Suffice it to say that a very insightful journey of self-discovery followed, which served as the topic of my “Confessions of an Ironman” book (to be published in English in 2021).

What is something you wish you would’ve realized earlier in your life?

It’s simple yet very powerful: I have all the answers within me. As I write in my yet-to-be-published “Confessions of an Ironman” book, no matter how many hundreds of books and seminars I came across on my journey of self-discovery, I felt that when I was a child, almost all of the messages conveyed were totally natural to me! The solutions and “techniques,” which are taught for unthinkable amounts of money, we carry within ourselves and instinctively use them from the first moment, until the point when the adults shut those functions down. 

As a child, you did not have a problem envisioning yourself as a princess, a ninja, or anything for that matter, and you could even behave like one. You were able to mold that fantasy world into your reality while getting completely immersed in the feelings connected with it. Later, when you reached a certain age, adults began to remind you that it was time to start changing and it would be much more useful if you spent your time with things they thought were more sensible because those were more socially acceptable. You, similar to them, ought to conform to those expectations and become “normal.” That is the only way you would be able to get ahead and make money as an adult.

The child, enthused and full of spirit, sees the contrast between his colorful, exciting world and the grey haze that is being forced upon him; still, he accepts what he’s shown, and leaves behind what he feels is right, and begins to follow the new direction. Job well done by the parents: now he is making a great living as a valued member of society, the display could not be more brilliant. The problem is that most of these people feel empty on the inside, and after spending fortunes and enduring great pains as adults, they relearn how to live in the moment, how to look at the world around them with genuine enthusiasm. The question is obvious: if this is the ultimate goal, why is this innate capability torn out of us at the earliest possible moment? It’s a curious cycle that all children are content with what they come into this world; then, their innate abilities are taken so that they can make money, which they can spend on relearning what they once knew.

I should have realized much earlier that I do have an inner compass and I should listen to my feelings, take them seriously, and take 100% responsibility for my life. Had I recognized this earlier, I wouldn’t have wasted so much time living a kind of life that conformed to social expectations. Once you realize that you are on your own in every key moment of your life, you may as well start living a genuine life according to your values.

What are bad recommendations you hear in your profession or area of expertise?

I keep bumping into ads that say: you can become a superstar trader or investor by taking a weekend course. That’s nonsense. When it comes to trading, managing your emotions, the psychological part of the story takes years to learn. As for investing, less frequent buy and sell decisions may make you believe that this area is easier to master, and you can become the next Warren Buffett, even if you are just a part-time investor. This is a delusion that advertisers want you to believe.

All you have to do is read three books (Buffett: The Making of an American Capitalist by Roger Lowenstein, Tap Dancing to Work by Carol Loomis, and The Snowball by Alice Schroeder) to get the picture of how Warren Buffett has sacrificed everything in life to become the world’s best investor. You will also learn how badly he neglected his family and all his relationships along the way. Would you be willing to do the same? Is that in line with your value system? If you don’t pay the price that Buffett did, you may want to shoot for different results, and better yet: may steer clear of the active stock-picking career altogether. Stock investing is a profession, and so it requires total dedication. Although copying Buffett and posing as an investor may seem sexy, investing is not something that you can become exceptionally good at by doing it part-time. And if you’re not exceptionally good at analyzing companies, valuing them, and managing your emotions, you may be better off with passively managed index funds or discovering and following a strategy that suits your mentality (like the FALCON Method with 1000+ subscribers). There is no “one-size-fits-all” solution when it comes to my area of expertise: investing. The most important thing is to only invest in what you understand, be it an index fund, a stock that you thoroughly analyzed, or a newsletter’s strategy that is so much in sync with your personality that you can stick with it through thick and thin. Staying the course is the key that gets you results; all the rest is marketing nonsense.

Tell me about one of the darker periods you’ve experienced in life. How you came out of it and what you learned from it?

Around the age of 30, I felt I was trapped in a company that I co-founded. I was involved in operational management, and although money was pouring in nicely, I wasn’t enjoying what I was doing. To make things worse, my business partner had a stronger personality, and since I didn’t stand up for myself those days, more and more decisions were made that I didn’t agree with. As I surrendered control and kept licking my wounds, my self-esteem was plummeting day by day. Compared to my current level of experience, I was still a rookie stock investor back then, and in that state of mind, I kept making bad investment decisions. As a result, I didn’t feel I was moving any closer to my ultimate desire: financial freedom, so all my suffering seemed useless. Although my business card and bank account communicated success, I felt terrible about my dismal investment performance, my weak-looking body, and I most certainly couldn’t endure the frustrating work environment any longer. Here was my glittering success story blasting to pieces.

To make a change, I decided to attend Tony Robbins’ Unleash the Power Within (UPW) event in London, which tore me out of my miserable situation. When I got home, I started blogging about dividend-focused stock investing (which was my approach around that time), and I discovered that writing (and later teaching) forced me to think at a deeper level and thus become much better. One of the happiest and most liberating days of my life was when I put down my general manager, managing director, and board membership positions, all at once, a few short months after the UPW event. They would surely look impressive on a business card today, but those are not what makes me who I am; I don’t identify with titles anymore.

Switching to the “do what you love, and money will follow” approach has changed my life. After relinquishing my corporate roles, I could devote all my time to my field of passion, which was stock investing. I created best-selling online courses, wrote books, and eventually founded a monthly newsletter service that is based on the structured, evidence-based investment process that made me financially free. (Actually, the FALCON Method business grew so big that we can afford institutional-level data, so the current stock selection process is much better and more multifaceted than the one that made me financially free.)

I believe that everyone should take the time, look inside, and discover their true passion. The feeling of “this is who I am, with 100% integrity and zero compromises” is the final destination of self-discovery, and one should aim for nothing less. Once you’re there, it becomes really easy to stand out from the crowd of people who are just drifting, passionless and goalless. And more important than standing out is that devoting your time to what you are enthusiastic about will inevitably make you a happier person. Money is just the byproduct of being on the right track to self-realization.

What is one thing that you do that you feel has been the biggest contributor to your success so far?

The decision to share my knowledge and experience. I was 32 when one of my friends asked me why I was not teaching people how to do “this dividend thing.” I thought nobody was interested, but he insisted that if I committed to creating a seminar on dividend investing, he would get me the first attendants. Long story short: my friend was right, people do want to know how to break out of the rat race, and seven years later, I have managed to get my message across to tens of thousands in 33 countries with my books, online courses, and newsletter service.

Before this stage, I didn’t enjoy the daily grind for money, not even at the company I co-founded. After the push from my friend, I discovered that I could maximize my usefulness by being true to myself and teaching people my unique recipe for stock investing. These days money is just the byproduct of what I love doing, and it seems the more people I help, the more cash lands on my account.

What is your morning routine?

I wake up at 5:01 every weekday. This used to be 5:00 for many years, but I got a hint from a friend that changing it to 5:01 would give a feeling that my daily routine is not that rigid, and my life is not overly systemized for the sake of productivity. Avoiding that “round number” early in the morning does feel good, so I’m sticking with this strange advice.

After getting up, I’m doing some yoga, meditation, and read for at least one hour. If I have writing engagements (like deadlines to submit my book manuscript or the monthly FALCON Method newsletter), then I like to do most of the writing right after getting up, as that’s when I tend to be the most creative. By the time my family members get up, I’ve already accomplished a lot, and that feels great. (My vizsla dog is an exception, her wake-up time seems totally random.) 

What habit or behavior that you have pursued for a few years has most improved your life?

Reading for at least one hour every day. I never leave this late; actually, I like to start the day by reading as this gives a sense of fulfillment. I observed that once you get into this habit, one book follows the other naturally, as what you read shapes your interest. I firmly believe that books are the most undervalued assets in the world; you can acquire another person’s knowledge and life experience for a fraction of the true value.

Of course, reading only has the potential to change your life if you are ready to take action once you have learned something that you’d like to put to use. Reaching for the next book is always easier than getting up and actually doing something. If you avoid this trap, reading a lot and re-reading the best books you discovered really has the power to improve your life. This has worked wonders for me.

What are your strategies for being productive and using your time most efficiently?

As the founder of the FALCON Method newsletter service, I’m operating a business that has 1,000+ active subscribers. I also authored a bestselling book on income-focused stock investing, and created top-rated online courses, so people are finding me with all their questions via email, making my mailbox almost unmanageable. It may not be surprising that my most important productivity rule is to use time blocks when planning my day. I only open my email (and Facebook) in the designated short time blocks; otherwise, the continuous distraction would ruin my whole day.

If I have a big project, like submitting a manuscript to my publisher, I am implementing my “one-hour-a-day” recipe. This says that if I consider something a meaningful goal, I should have 60 minutes to devote to it every day. Noticing that I keep failing to do so can be quite revealing about how much I really want that particular goal. That said, this creative time block should include no internet and phone access at all. All in all, I don’t believe in jam-packed day plans. Initially, you may underappreciate the power of that one hour of fully dedicated creative work, but if you stick with it, you’ll be amazed where it can take you within a few short weeks or months.

Last but not least, maybe the most important element of my productivity “secret sauce” is that I totally unplug on Saturdays, meaning that I use no internet and no phone at all. Aaron Edelheit’s book entitled “The Hard Break: The Case For The 24/6 Lifestyle” may get you hooked as well. After these recharging Saturdays, I’m itching to get back to work and create something valuable.

What book(s) have influenced your life the most? Why?

I’m trying to keep the list short and not essentially investment-related. 

Rolf Dobelli’s “The Art of the Good Life” is a book that I’ve read four times so far. I have highlighted so many actionable ideas in it that I feel it is worth coming back to those pages when I’m stuck with something or feel down.

The “Dice Man” by Luke Rhinehart is a scandalous classic that can help inject some spontaneity into one’s overly systematized life. The story was both amusing and eye-opening, a pretty good combination.

“The Compound Effect” by Darren Hardy illustrates how every little step moves you toward or further from your goals and thus gives you the motivation to think more consciously about your daily routine. 

Eric Barker’s “Barking up the Wrong Tree” is the book that I’ve just ordered in print after it had made a huge impression on me while reading in Kindle format. It is full of great examples and entertaining stories about how most conventional “success teachings” are plain wrong.

When it comes to investing, my current approach has been shaped by hundreds of books and several years of experience. Still, if I had to pick just one investment-related writing, it would be the collection of Warren Buffett’s letters to Berkshire Hathaway’s shareholders, which is available on Berkshire’s site, and in a book format as well. It’s hard to go wrong by reading the thoughts and tracking the progress of the world’s best investor since his 1965 letter.

Do you have any quotes you live by or think of often?

Although I’m not a diehard Star Wars fan, I have a medal display engraved with Yoda’s phrase: “Do or do not. There is no try.” This message resonates with me as I am not an experimenter but a doer. Those who experiment are simply in search of obstacles to stumble over. I did not achieve financial freedom around the age of 33 with an “I’ll give it a try and see if it works” attitude. Crossing the Ironman’s finish line (twice) also required solid determination, especially from the base state from where I started.

I also like David Dreman’s quote: “The rational man, like the Loch Ness monster, is sighted often but photographed rarely.” This thought keeps crossing my mind as I’m trying to navigate my relationships consciously.