Rick Hu: Mindset Matters

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Rick Hu, founder and CEO of Midas Wealth, a private wealth management firm, shares his story becoming the youngest Managing Director at Northwestern Mutual at the age of 25.

Prior to founding Midas Wealth, Rick built the Northwestern Mutual Chinatown office to lead it to become the number one district office in its category by its 5th year of operation. He’s focused on advocating for financial literacy in his local communities and his firm currently serves over 1,000 clients.

In this special episode for Asian Heritage Month, we discuss his journey becoming himself, becoming successful, and becoming a father and a son.

Episode Highlights

Applying the best of the East and the West

Rick’s journey as a Managing Director was not easy. He initially struggled and wanted to be like his peers, who were mostly white men in their 50’s – twice his age.

He eventually incorporated practices such as treating every team member like family and inviting his clients into his home to create his own unique way of operating. This flipped the tables and inspired his peers to want to be like him.

Breaking the minority curse

Rick earned the respect of his parents through his success while still remaining the same person. He’s set his relationship with his parents on equal footing, enabling open dialogue which was nonexistent in previous generations of his family.

Rick believes we all have it within ourselves to break this curse for our immigrant families.

A sneak peak into Rick’s mindset

  • Abundance over scarcity mindset – scarcity is aligned with fear. You overcome it through love
  • If you want to be above average but are doing the same things as others, you’ll only be average
  • Being badass means being uncomfortable because the opposite of success is not trying

More about Rick

You can find Rick on Instagram.