24/7 Wall St. Insights

• Jamie Dimon is the CEO of JPMorgan Chase.
• Dimon’s insights are valuable to individuals and professionals of all ages and backgrounds.
• Also: Discover the Next Nvidia.

Jamie Dimon, CEO of JPMorgan Chase, holds a ton of experience and wisdom when it comes to business, finance, and management. People of all ages and backgrounds can learn from his approach to personal development, professionalism, and career growth. Even if you’re fresh out of college, you might find valuable insights from Dimon’s discussions.

Here are 11 Jamie Dimon quotes every 20-year-old needs to hear.

1. “I’m a little bit of an eternal optimist. People always say to me, ‘If you go do this and it fails, what are you going to do?’ I don’t care. I’m going to give it my best shot. That’s what I’m going to do. If it doesn’t work, it doesn’t work. And I’ll try again.”

• Source: Jamie Dimon

Keep a Positive Attitude

Having an optimistic mindset makes all the difference — both in your personal life and in business. Your 20s are the perfect time to build your positive attitude. Even if you end up failing in your endeavors, it’s better to have given an opportunity your all than to have talked yourself out of even trying. You never know what you can accomplish, and oftentimes, confidence is magnetic. If you truly believe in yourself, others will start to believe in you, too.

2. “Don’t do anything stupid. And don’t waste money. Let everybody else waste money and do stupid things; then we’ll buy them.”

• Source: Jamie Dimon

Be Intentional

Many people, especially in their 20s, will take uncalculated risks and experiment in nonmeaningful ways that get them into trouble down the road. While it’s great to explore different avenues and discover who you are as an individual, it’s also important to remain grounded and focused—especially when it comes to your career. Rather than tossing money away for temporary fun or making poor choices in the name of youth, be intentional with your actions. This will set you up for success down the road. 

3. “My daughter asked me when she came home from school, ‘What’s the financial crisis?’ and I said, it’s something that happens every five to seven years.”

• Source: Jamie Dimon

Don’t Let Today’s Financial Woes Discourage You

While the economy isn’t necessarily in the best place today, remember that it won’t be this way forever. It ebbs and flows in ways we can’t always avoid. So long as you are patient, resilient, and optimistic about your future, you will be able to forge a path for yourself. Financial crises will occur throughout all of our lives; don’t panic or make life-altering decisions in the name of fear.

4. “The term ‘too big to fail’ must be excised from our vocabulary.”

• Source: Jamie Dimon

Acknowledge the Risks

When something is deemed “too big to fail,” usually, this means it’s too important or large for a bank or the government to allow it to go bankrupt. However, as Jamie Dimon noted, we shouldn’t view anything as safe from this threat. Instead, it’s important to acknowledge the risks associated with every endeavor. Additionally, consider the larger-than-life entities that have failed seemingly against all odds. What could they have done differently to avoid this fate? How can you learn from them? Your 20s are a great time for reflection.

5. “No one can forecast the economy with certainty.”

• Source: Jamie Dimon

Be Comfortable With Uncertainty

Uncertainty is simply a part of life. Learning to accept it — and navigate it — will set you up for success early on in your career. Especially when it comes to the economy, no one knows for certain what’s in store. If you can move forward with confidence, flexibility, and willingness to pivot if needed, you will be much further ahead than others who are lost in the details. 

6. “Look, every institution will make mistakes. I acknowledge we make mistakes, and they can hurt my reputation and our company’s. But you also must be willing to let go a little bit, trust others, and not always be so stringent, provided you have robust controls.”

• Source: Jamie Dimon

Let Go in Business

Mistakes happen; it’s how you respond to them and move forward that truly matters. Don’t let the possibility of messing up make you controlling or unwilling to let others take the reins in business. Embrace the process of learning, growing, and figuring it out with others.

7. “Just because you have a good hand today doesn’t mean it’s good tomorrow. And some of the things we’re doing may become very disadvantageous at some point.”

• Source: Jamie Dimon

Always Be Willing to Pivot and Learn New Things

You are never too old to learn new things, but you might as well take advantage of your 20s while you can by experimenting with different passions and opportunities. The business world is constantly shifting, and the more skills you accumulate, the better off you’ll be. Flexibility is a great attribute to carry into your career.

8. “I was a normal human being, but I did like that. I read a lot. I also liked math and science.”

• Source: Jamie Dimon

You Don’t Need to Be a Superhero to Find Success

Many people believe they need to be some sort of child prodigy or highly gifted individual to find success, but that’s not true. Through hard work, passion, and dedication, anyone can become successful in their career. Don’t focus on standing out or appearing a certain way to others; instead, focus on your unique journey and how you might work toward your goals.

9. “Humility is the realization that those who came before you paved the way. Never fool yourself into thinking that your success is just your own.”

• Source: Jamie Dimon

Remain Humble in Business

While it’s great to be confident in business, it’s just as important to remain humble. Even when you’re experiencing profound success, you should never forget the people who helped you get where you are today. This doesn’t mean you shouldn’t credit yourself for those same successes. Rather, simply acknowledge that you didn’t do it on your own. Practice gratitude for those who came before you, and pass on that same wisdom and encouragement to those who follow behind you.

10. “You can never have equal outcomes, but you can have equal opportunity.”

• Source: Jamie Dimon

Seize Your Opportunities

Two people could be presented with the exact same opportunity and experience completely different outcomes. If you aren’t willing to take advantage of the opportunities you receive during your 20s, you’ll never know just how far you could’ve gone. Many young professionals are too afraid to get started while others aren’t willing to put in the work. However, on the other hand, some individuals will do anything to forge a successful path — especially early in their careers. Make sure you value every opportunity you receive in your youth. 

11. “Any good job is a good job. This whole concept of a dead-end job? It’s not true. I’ve heard it my whole life. Jobs lead to dignity. If you’re good at the first, then you can get the second. Jobs lead to household formation. Jobs are a better solution for society.”

• Source: Jamie Dimon

Value Every Job You Have

Every job you have throughout your lifetime serves an important purpose. While some jobs are more enjoyable and worthwhile in terms of pay than others, each occupation brings you closer to the one that’s truly meant for you. You can gain valuable skills and experience even at the most mundane or low-paying jobs. For example, many college students endure low-paying or unpaid internships merely for the résumé boost and first-hand experience they offer. It might feel like a waste of time working at certain companies or in certain roles, but you can always gain valuable exposure and insights.

Why We’re Covering This

Jamie Dimon’s quotes can help those in their 20s navigate the uncertainty that comes with that decade of life. With the above quotes and tokens of advice, you can set yourself up for success early on in your life and career.

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