How To Be A Millionaire In Your 20s

67 Golden Rules
6 min readAug 15, 2021


Age is just a number in the money game. Whether you’re just starting in your 20’s or are already in your 50’s. Anyone can become a millionaire if they put their minds to it. You never know when you’re going to get your next big break. It can be as soon as you start working towards launching your career or after years of struggle. Sometimes, don’t we all wonder if it’s all based on someone’s luck? So how do we become a millionaire setting these factors aside? How do you become a millionaire? If you’re in your 20’s, how do you become a millionaire by the time you reach 30? These groundworks of actions work for anyone of any age.

  1. Save a certain amount of money you earn:

One of the most important factors of money is saving a certain amount you earn. If you’re an entrepreneur or are working jobs, you can always put a certain amount of money aside. Most successful people recommend you should put 10% of your income aside for savings.

If you feel you can’t do that, try with less, but with time you will be able to learn to save more. A little money saved is better than no money saved. People always find a way to spend all their money if they have it available in hand. Similarly, people learn how to ‘make ends meat’ if they really had to, with the limited amount of money they have. Learning to save might be a challenge, but is a powerful technique to start becoming a millionaire.

2. Invest what you have saved:

The money you have saved sitting there without doing anything does not speed up your journey to become a millionaire. Yes, it’s important to save, but it is more important to put your money to work. When you put your money to work, it earns more money and that earned money earns more and so on.

There are many places you can invest your money these days. Some of the best ways are investing it in the stock market or putting it in the bank for compounding interest. You can also invest in different businesses.

While investing be careful that you are investing in something you are familiar with and understand what’s going on. Otherwise, there might be a danger of losing your hard earned money. We all know the saying, “don’t put all your eggs in one basket.” It’s always good to diversify your investments so that if one investment goes into loss, the other one still remains intact.

3. Have multiple sources of income

Like we mentioned above about not keeping all your eggs in one basket, it’s also important to remember not to rely on only one stream of income. You can always do a side hustle or work part time to earn more. If you have an idea for a business or can provide a service, there are many platforms that have customers waiting to get your product or service. Creating a passive income source is key to automatically generate wealth over time. It involves assets that pay you monthly for little to no work, or from work you did once but no longer do.

Related: 28 Universal laws Of Success

4. Cutting down on your expenses:

While you’re dreaming big dreams of owning expensive cars and mansions, cutting down expenses might seem like a setback. Living frugally helps you to keep your expenses as low as possible so that they can use their extra income to continue investing in wealth-building opportunities.

Try looking for ways in reducing your bills and liabilities that take away money from your pocket. The more money you save, the more you have to reinvest to accumulate wealth.

5. Make everything automatic:

Once you have done everything we’ve talked about, it’s time to start making things automatic. When you are just getting started, there probably are only a couple of things you need to do. With time as you grow with your work, investments and businesses, you will need to start looking for ways to automate your work load.

There are many ways these days to automate your work by using technology. There are complex AIs that do calculations, set alarms and perform complex algorithms to make your work easier. Spending time in doing all these menial work might take up a lot of your energy than finding time to spend to think about doing bigger things for your career.

Also, when you get your income, direct a portion to be automatically transferred into your emergency fund and retirement savings accounts. Set up a recurring payment system for your bills, credit cards, utilities and others. Then you’ll set up automatic payments into your investment accounts.

6. Work smarter, not harder:

Most people think of working hard will make your rich and successful. If that is so, why do people who work the same amount of hours a day have different sources of income. Everyone in this world have the same hours to work during the day, but why do some people end up becoming millionaires and some barely make it? Rich people work smart than working hard.

Obviously rich people work hard too, but they find smarter ways of doing it. If you face some problems at work, they work on finding an easier solution to it. It makes their work flow more smooth and their improvement multiplies. Doing this helps them get way ahead of people who work hard and not smart. There is a saying by Abraham Lincoln, “give me six hours to chop down a tree and I will spend the first four sharpening the axe.”

7. Generate assets to pay for your luxuries

Once you’ve consistently worked on these groundworks of action, you will obviously cultivate your wealth and with that along will come luxury. Becoming rich is important, but staying rich is equally important as well. Rich people always have assets that pay for their luxury. For example, if they own an expensive car, they have passive incomes or assets that generate the money to pay for the car, which allows them to be free from spending all the money they’ve earned.

There are a lot of millionaires who have spent their money without having a backup money generator and have ended up bankrupt. Therefore, it’s always virtuous to own luxury with backup like an insurance policy, passive incomes or assets.

With these golden rules to become a millionaire, you are already taking the correct steps to walk on the path of success. Don’t keep thinking and sit back, take these steps right away, there is no loss. You will have to begin sometime or the other, so why not NOW?

Also after you begin, it’s always best to be consistent with it and continue relentlessly. You will definitely find money and success.

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67 Golden Rules

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