10 life lessons from Bill Gates

Bill Gates delivered a powerful and personal commencement speech at Northern Arizona University—a graduation ceremony he never had for himself, having famously dropped out of Harvard to start Microsoft.

Reflecting on what he wished someone had told him when he was younger, Gates offered five insightful pieces of advice to the graduating class—lessons that go well beyond the classroom and into the real world of careers, purpose, and life.

His words are just as relevant for seasoned professionals and investors as they are for fresh graduates.

Anyway...here are his 10 life lessons:

Rule 1: Life is not fair - get used to it!

Rule 2: The world won't care about your self-esteem.

The world will expect you to accomplish something before you feel good about yourself.

Rule 3: You will not make $60,000 a year right out of high school.

You won't be a vice-president with a car phone until you earn both.

Rule 4: If you think your teacher is tough, wait till you get a boss.

Rule 5: Flipping burgers is not beneath your dignity.

Your grandparents had a different word for burger flipping: they called it opportunity.

Rule 6: If you mess up, it's not your parents' fault, so don't whine about your mistakes, learn from them.

Rule 7: Before you were born, your parents weren't as boring as they are now.

They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you thought you were.

So before you save the rainforest from the parasites of your parent's generation, try delousing the closet in your own room.

Rule 8: Your school may have done away with winners and losers, but life has not.

In some schools, they have abolished failing grades and they'll give you as many times as you want to get the right answer.

This doesn't bear the slightest resemblance to anything in real life.

Rule 9: Life is not divided into semesters.

You don't get summers off and very few employers are interested in helping you find yourself.

Do that on your own time.

Rule 10: Television is not real life.

In real life, people actually have to leave the coffee shop and go to jobs.

Bonus Rule:

About Michael Yardney Michael is the founder of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.