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How To Become A Millionaire By Age 30

How To Become A Millionaire By Age 30

Do you want to become a millionaire by 30? Here’s my story on how I reached a million-dollar net worth in my late-20s. It involved a lot of work, luck, and risks. But I believe all justneedcash readers will eventually become millionaires someday.

Now that I’m in my mid-40s, in retrospect, I should have taken even more risks. Taking so many risks is a key theme if you want to become a millionaire at a young age. Move to where you have the most career opportunity. The second key theme to becoming a millionaire by age 30 is to own appreciating assets that work hard for you.

Thanks to inflation, it takes at least $3 million to live the lifestyle of a real millionaire today. If you own assets like real estate, stocks, and businesses, inflation will start working for you. Don’t make life harder than it already is!

How To Become A Millionaire By Age 30: Financial Upbringing

Growing up made me strong considering the status of the middle-class household. My parents had just one source of income and always looked sad due to their current situation, frowned upon ordering anything other than water when we went out to eat.


I knew nothing of expensive shoes or clothes because I had just a few. My wealthier friend gave me his old Air Jordans 4s that were two sizes too large. I couldn’t even afford a camera or a Nintendo game system. We had comfortable lives but didn’t have more than we needed.

I was curious because many of my wealthier friends’ parents are business owners, and I told myself I have to own my a business so I don’t have to live like my parents. I’m not ashamed of them but I have to live my own career path in other to chase my dreams of becoming a millionaire someday.

By the time I was 13 I was hooked on every single episode of “The Lifestyles Of The Rich & Famous,” narrated by Robin Leech. A million-dollar house and a $40,000 sports car. What a life! I thought to myself in the 8th grade. Might as well give it a go. That’s when I started really hitting the books.

Millionaire By 30 Money Mindset

If you want to become a millionaire by 30, you must adopt a strong money mindset. Know that there is money everywhere for the taking. You’ve got to believe you deserve to be rich.

Further, becoming a millionaire by 30 is becoming more common rather than the exception thanks to inflation. After all, $3 million is the new $1 million today.


There are so many standard ways to become a millionaire. If you don’t become a millionaire by 30, you will eventually get there with enough time.

If you work for 40 years and save and invest just 20% of your after-tax paycheck a year, there is no doubt in my mind you will amass at least one million dollars. Compounding is a powerful force. I will give you three(3) reasons why your first million could be the easiest.

Three Reasons Why The First Million Could Be The Easiest

1) Tremendous energy

When we first graduate from high school or college, we have a tremendous amount of energy to show what we can do after all our education. We’re hungry, motivated, and need to prove to others and to ourselves our worth. 60-90 hour work-weeks are no problem!

Unfortunately, so many of us piss away our youth. We buy new cars without considering an investment plan. Some of us get into expensive credit card debt and we spend more carelessly believing there are more to come, well that’s a great mindset but doesn’t happen without work unless maybe you are from a wealthy home where everything is provided and a company to run after graduation.

Nobody owes us anything. But we owe it to ourselves and to our parents who sacrificed all that time and money raising us to give life everything we’ve got.


2) Fewer dependents

Most of us won’t have children by the time we graduate from college. As a result, we can focus 100% of our efforts on generating wealth by developing our careers or our businesses.

Compare ourselves to middle-aged adults with two children, a mortgage, and aging parents to take care of. We are like finicky Ferraris on a starting line ready to blow away our older model competitors.

I’m now a dad to two young children. As a result, I’ve got to wake up by 5 am every morning to write before my children get up. Otherwise, nothing would get done on justneedcash. By the time 1 pm rolls around, I’m exhausted playing with my kids. Remember to always take advantage of your youth!

3) Nothing to lose

When we graduate with nothing, we have nothing to lose. Compare that with people with property, stocks, and other investments during economic downturns, and they have everything to lose.

With very little assets, we should be taking more risks. Now is the time to start a company, invest in that growth stock, take a new job opportunity, or move halfway across the world on a hunch that good things might happen. If we don’t take risks while we are young, we certainly aren’t going to take them when we are old.


How To Become A Millionaire By 30

I had no idea I became a millionaire at age 28 until two years later when I did my first detailed net worth spreadsheet in 2007. It’s easier to achieve something when we don’t even realize what we’re doing. I was too busy saving, investing, working, and trying not to blow my money on things that I didn’t need.

Like most people believe, 30 is a big milestone. Ever since college, I told myself I was either going to make it, know that I was going to make it or be an absolute failure by 30.

The fear of being a failure at 30 with no job, no woman, no savings, no investments, and no world experiences made me so motivated to not mess things up. I felt I needed to become a millionaire by 30 in big cities like New York and San Francisco.

Keep Aggressively Saving And Investing Lifestyle

Years later, I’ve continued to grow my net worth with a variety of passive and alternative active incomes. My family is a great motivator to keep ongoing. The last thing my wife and I want to do is go back to work while our children are still young.

Amassing wealth is about savings, discipline, perseverance, luck, and X-Factor, and the belief that you too deserve to be wealthy. Eventually, you will have more than enough so that you’ll either retire or keep on playing for fun.


The Road To One Million Dollars

To the best of my memory here’s how I was able to amass a million dollars by age 28. Today, my net worth is much larger thanks to the amazing bull market.

When I graduated from college, the total amount of cash I had was roughly $4,000. I had saved some money from summer jobs temping and working at McDonald’s for $4 an hour what a disaster it was for me.

Tips for Becoming a Millionaire at a young age

Please take note of these tips I will be stating below it will help you become a millionaire by 30

  • Don’t mess around in high school and college or else you will have a hard time landing a good job that pays well.
  • Save until it hurts each month
  • Work hard and know your place
  • Stop making excuses
  • Consider both aggressive and conservative investment strategies
  • Property is one of your best friends over the long term so own one
  • Pretend you are poorer than you are and show few signs of wealth
  • Regularly invest in yourself
  • Diligently keep track of your progress
  • Regularly turn funny money into real assets
  • Consistently recognize your luck
  • Invest for the long run
  •  Keep on reading and learning about money

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