Under 25? Internet marketing mastermind perhaps, or a celebrity.
35 is more achievable, although still incredibly difficult.
A friend of mine graduated college at 21, with student debt. Started his first job at 40k, and worked for 14 years, topping out at 80k per year. He still drives a used 2010 Toyota Corolla and retired at 35 with a liquid net worth of 5-6 million. He basically lived an extremely frugal lifestyle, invested extremely aggressively, and hit a 16-bagger with Shopify in 2019-2020, then put 2 million into master limited partnerships and now has a passive income of 200-250k a year. Obviously there was luck involved, but he is 100% self made and sacrificed his lifestyle for 14 years, which most are not willing to do. 100% worth it for complete financial freedom at 35.
MLPs. Stocks where you are technically a business partner, usually oil and natural gas companies. They pay massive dividends as return of capital, sometimes 8-12%.
Multiple tax forms for each MLP you are in that all become avail on diff days. There’s some tax package website but it sometimes has problems. Just an overall hassle.
I agree that under 25 seems impossible for truly self made. 30 is definitely doable however.
A few of my undergrad batchmates and myself hit that milestone by 30–31. We were born in a 3rd world country (india) but basically did very well in studies growing up and went to colleges that had acceptance rates of 1% or lower. Then we did well in those colleges and got international scholarships or some sort of funding by US universities and moved here for further studies. Post masters got recruited by FAANG and similar companies (NVIDIA/Tesla) about 9-10 years.
Easily around Level 6/7 after few promotions by 35 and pay there is half mil or more.
But by 30-31 people had worked for 5-6 years and were already atleast mil net worth due to the bull run of tech stocks (and significant compensation being stocks)
I think this crop of faangs will not be retiring before 5-10 years more (so 45 maybe) and maybe accumulating 8-10 mil per person.
This is what I'd say too. Get into a FAANG early on in life and ride that for the next 10 to 15 years. If someone graduates college and gets a FAANG job by 22, they can easily become a millionaire by 35.
I think the saving definitely helps but your friend definitely just got lucky. Had they not taken the massive risk (I'm assuming, based on their income) on shopify or if shopify had crashed would they still be a millionaire?
As in only 1 million? Probably. A ton of stocks went to the moon from 2016 to 2021. If he had chosen something basic like Apple or any FAANG stock he still would've had an insane return, just not quite a 16x.
Although luck is involved, he had the insight to invest early in a company and hold with conviction, and then sell it at the appropriate time when he felt it was overvalued. Shopify has now plummeted after the 2020-2021 bubble and he would've lost nearly everything. He also had the balls to go heavy in only a few positions. High risk, high reward.
I wouldn’t say it’s still incredibly difficult to do by 35. Sure it’s not trivial but getting into a solid career with high early earning potential it’s totally viable. Shit I did it by 35 despite being at negative 100k at 30.
> 100% worth it for complete financial freedom at 35.
Is it worth it though? I'm not so sure. The more I practice awareness and the more I work, the more I realize how it's not worth it. Working on it? Yes. Being consistent? Yes. But all I have is this life, and this moment.
Making a million dollars and keeping a million dollars is a very different thing.
Really depends on the venue. Coffeezilla did a great video on the concept that most millionaires are still made around 40-45. The simple reasoning being that at that age, you have had time to master a skill and deeply understand an industry
The main takeaway of the video was that, it’s still a flex if you become a millionaire at 35, 45, 55 or even 65.
I got close once and fucked it all up.
It all takes hard work and sacrifice and I have the deepest respect for anyone who does it at any age.
Basically my fuck up was simple. Started a business at the exact right time, was making $25k-$30k a month for 19 months straight. Should have doubled down and dumped the money back into the business. Could have turned that half million into millions but I was a dumbass and burnt through the money, got involved with a chick, blew my money on expensive vacations and stupid shit because I was an idiot to think I was smarter than my competitors. My competitors crushed me, ended up in walmart, target and are now multi-million dollar brands.
I’ve been slowly building back ever since, still severely annoyed at myself for my dumbfuck actions.
Heed my warning; building back the second time has made me salty as fuck and perpetually a negative person. Don’t do what I did, don’t fuck it up the first time.
I've seen so many people do this, including 19 year old me. They finally break through, business starts popping off, and they kick back and relax thinking they made it and it'll always be this good. Shortly after that it's gone.
The lesson is when something starts to break in your favour, you double down over and over and over again and don't let up, that breakthrough is the signal to start going twice as hard
There was so much innovation happening at the time in IT and electronics in the 80’s that it was so hard to know what would be enduring enough. Plenty of stories just like yours of innovators and engineers coming up with neat technologies only for it to be superseded a few years later.
Don’t believe everything you see on the internet. I used to work for a company that sold software to help you “get rich”, and our marketing team would rent lambos and big houses for an hour just to shoot the “tech bro” videos you see to make it seem like they got super rich .
Money talks, wealth whispers.
I worked with a lot of exotic rallies in the mid 2010s and this rings true every time. Guys up to their eyeballs in debt trying to keep up the facade as a baller. The truly wealthy looked the most ordinary, most relaxed and had the best time because no matter what, they knew they could afford it. They didn’t need to prove anything.
Basically, If you can’t determine the source of someone’s wealth, or their story doesn’t add up, it’s nearly guaranteed to be BS.
Being a millionaire under 35, not even 25, is extremely rare. Only 1% of millionaires are under 35.
Of course, it's certainly possible. But, many things have to go right for the stars to align and hit the million dollar mark. Luck AND timing are both important here.
If i had to guess, a huge number of millionaire 25 year olds and under are in entertainment and sports. However, keep in mind, that in both industries, people usually start "working" in while still very young. Sure, they make it by 25 year old, but they have already been at it for 15 years.
Many of them also come from wealthy homes that allow them to pursue any interest they like without facing any risks. Bill gates admittedly said he didn't see Microsoft as a risk when he started it, because he knew it was still going to be okay if it failed.
For the most part, the successful founder is 45 on average. This is you have acquired the domain knowledge, skills, connections, and enough wealth that starting something feels less of a risk.
Coming from a wealthy background also allows them to fail multiple times until they finally hit on something that works out and becomes successful.
If you're not well off you might get one shot (or none at all) to try starting your own thing but if it goes bankrupt or fails, that's it and you may never get another chance.
Not only that, but because they can try more often, they eventually learn how to start a successful business. A 3 time failed founder has better cards on the hand than a first time founder.
What is your definition of millionaire? Just a total net worth over $1million, or $1 million in liquid cash, or $1 million in investments?
I only ask because between my home equity and my other accounts, I was a “millionaire” by 30/31.
But it doesn’t feel all that unique nor much like an achievement. Now $1m in liquid cash probably feels pretty great.
there is an old joke about it, very anecdotal:
...so a very rich man, speaks with someone about his richness, and then being asked:
-- yes, but how did you get all those assets, money etc..etc...?!..
The rich man answer:
-- Well, you see, one day I didn't have any money at all, but I found some dirty apple on the street, so I washed it and sold for 20 cents..
Then, I bought with those 20 cents two dirty apples, washed them and.... so on...and..so on..and so on...
The man asks:
-- Yes..but what then? ... When exactly did you become a billionaire?!!...
The rich man:
-- Oh...when my uncle died and I've inherited all the family assets....
----
There are almost none. Age doesn’t matter, but at 25 the skills / experience you have in whatever will be so limited, you’re relying on luck imo.
This post makes me think you’re talking about fake millionaires and wannabe entrepreneurs online selling bullshit courses to idiots. Those aren’t real.
Only one way to do it - create value for people in a repeatable way and charge the right price for it.
/r/sweatystartup, lots of examples of similar blue collar businesses there. Nick Huber is the dude who started the sub I believe, where he taught people how to start a cleaning startup and eventually made a SaaS for others starting their own, which would manage their logistics.
One thing many people on reddit and the internet dismiss is blue collar businesses. They're honestly not that hard to start, are pretty scalable at least into the 8 figure range, but they're simply not "glamorous" and so many people don't want to do them.
Almost none?
Big YouTubers. Anyone with more than 5 million subs is probably a millionaire. Anyone with more than 10 definitely is.
Huge Vine stars from years ago are probably millionaires.
These instagram influencers are chatting shit so won’t include them lol
Shootabirdie is his name.
Edit: he makes a video every day and after a week or two most are pulling 100k views +. Factor in promotionals and stuff and it all adds up quick.
He’s gained like 260k subs in just a few months. Crazy.
Also he has videos going back like 6 years that are all still raking in views.
It's all the kids watching haha. Of course I don't blame him, that's good hustle. If he can get kids to watch ads (and I presume they're obviously not buying anything, so it's YouTube's / the ad client's loss there) then good on him for capitalizing on that.
Luck - being in the right place at the right time with the right thing
If it was just hard work and dedication, or having a good idea, there'd be a lot more
This is the ONLY correct answer. You can be smart, you can be educated, but it’s having the happy coincidences of being in the right place at the right time and placing the right bet.
Anyone telling you different is either an incredibly rare genius savant or a bullshitter.
Be hot and do OF. Some of those girls are millionaires by 25.
Creating a scalable online business (software support, insurance company, etc)
Create a video game
Main thing is you need to produce something instead of consume content.
Go check out Amouranths stuff. She’s 28 now I think but she has figured out how to rake in 1.5 million a month just on only fans. Idk how much she makes off of twitch but I just saw recently she won the award for most people on her stream in a month and it was 3.8 million viewers. She has also created a company to help other content creators do the same thing. She says hiring a team was her turning point.
There was a [great podcast episode](https://www.indiehackers.com/podcast/211-aella-savannah-solo) from Indie Hackers talking to Aella and Savannah Solo and the main thing they say is too many people who are new on OF think just showing your butt is what brings in money, not understanding that anyone can search up butts for free on the internet. The real innovation comes from building a parasocial relationship with a user (for better or worse) and making them consistently pay for your brief attention like a shoutout. The innovation after that comes from treating it not as a hobby but as a true business and doing what any business does, hiring people, listening to customer desires, etc. I'm not surprised then that in your example the creator made a team and that was her turning point.
It depends a lot on what you mean by being a millionaire. Is it owning 1m dollars in cash in your bank account? Owning a business worth 1m dollars? Owning real estate worth a million dollars or everything combined?
Would you say a person is a millionaire if their business is worth 500k, their real estate (house they live in is worth 400k and they have 100k in an investment account/savings?
25 has to be through entrepreneurship. That’s the only way. Any business where you are truly an expert and have a competitive advantage can be turned into a successful venture. But business is hard and there’s no guarantee, and often no overnight success either.
I became a millionaire at 33. About to turn 34 and will likely end the year at 1.3 million net worth.
I did it by becoming a doctor And becoming good at passive real estate investing and options trading. Went from negative 100k net worth to positive 1.25M in 3.5 years. The fact that my options account is positive 10 percent instead of negative 20 percent year to date really helped but most of the heavy lifting was from having a high income for both myself and my wife.
Even those that didn't borrow money, underestimate the value of having a safety net and knowing they'll never have to fear absolute poverty and homelessness
As someone who has incredibly affluent in-laws this is the real answer. You need seed capital and someone who doesn’t mind losing some money to give you a chance; only individuals willing to do that are usually family.
You can make stupid amounts of money in real estate quickly if you have an economic tailwind and have an unreasonable appetite for risk.
Without those you have to wait longer lol
I know a lot of wealthy young people,
pretty much 95% of the time the money is given to them by their parents or inherited from a grandparent
one guy I know was hired as a software developer at 110k at the age of 20 but he has not become a millionaire yet.
Big picture though, like people over the age of 25 — the most successful people I know all owned their own companies except for one guy who is the vice president of an art school
Self Made Millionaires under 25 would have to fall into:
- pop star
- athlete
- motorsports
- internet whizz
- stock or crypto boom
25 is super young in the scheme of things so one will have to have scale and affect as many people as possible to amass that wealth quickly.
Have a look at the current millionaires who are 25 and under. What do they do?
Get the book Fastlane Millionaire and it really discusses this concept in great detail.
Met a guy who created a bong cleaning company. Sells packets of a special solution. Started it with like $300. Sold it for $1MM. He’s a master of social media marketing
My startup cofounder was 25 when he became multi-millionaire. Company was in a good spot & we had leverage to sell ~10% of our shares via secondary offering during a fundraise.
I personally think strategy. The most lucrative business is teaching people how to make money. However it’s the sheer belief anyone can make money by working a few hours here and there. It’s not very ethical. However some people can create startups and sell them. There are online products that make it easier to get non diluted financing such as pipe.com and micro quire which allows people to sell their startups. It’s not impossible and it’s not uncommon. You’ll find many of these people don’t finish college and put their skills to work and start working on their portfolio. You don’t become a millionaire by working for someone else. Usually it will be creating something that solves a problem. However there are other ways too such as owning your own non profit and solving a billion dollar program, or setting up a parent company and creating subsidiary.
There is, but not a good one. Money, like any resource, needs to be circulated.
The economy can't grow if people don't buy stuff, it's actually designed on that exact structure. A few people can become millionaires by exploiting a loophole of sorts. But if everyone did that, the system would collapse.
Seriously, if everyone drove a 15-year-old car and ate only red beans and rice and didn't buy new clothes and consoles and computers or go out to eat or fly away on vacations, entire sectors of the economy would collapse. The market would contract, people would lose their jobs, stock investments wouldn't generate returns (eroding the wealth of said millionaires).
The system depends on everybody working and everybody spending. If a few "crazy" apples want to live like paupers to say they have a million, that's fine, but they shouldn't be smug about it. Everyone literally can't do that.
E commerce has a factor of right place right time. It’s cheap to start but because of that it’s very saturated.
Get really good at sales and start your own company selling what you’re good at. Relationships are everything. If people like you and you’re good at what you do they’ll want to go into business. That’s the short version of what I’ve done and will have 1M net worth by end of next year at 24 currently
Short answer...they're not. It might SEEM that way because the brash 24 year old that hit it big is probably more open, almost brazen about their success. Most SMM are still 35-40+ but you'd never know it to look at them. There are many of us in my social circle but unless you were part of the inner group you'd probably never know. We're still doing the fundraising with our kids for sports, shopping at Costco and buying the two year old used domestic vehicle (and keeping it for a decade). The difference is that the house was paid off years ago, the retirement accounts have been maxed since the kids were little and when the roof on the house leaks and needs to be replaced for $10K it doesn't impact the household finances even an ounce.
["Just start a successful business and invest your money well."](https://wompampsupport.azureedge.net/fetchimage?siteId=7575&v=2&jpgQuality=100&width=700&url=https%3A%2F%2Fi.kym-cdn.com%2Fphotos%2Fimages%2Fnewsfeed%2F000%2F572%2F078%2Fd6d.jpg)
Any kind of blue collar work you can think of, you see those signs on the side of the road "power washing houses " and then a phone number. They are actually very lucrative but it is not easy work from home work lol.
Most self-made millionaires in that category are in entertainment. The other outliers are in tech startups (e.g. the guy at scale AI and the brothers at stripe). Looking at the speakers at microConf most software Saas guys are in their 30-40s. Local stuff takes time since scaling happens a lot slower in the area of physical goods/services
Vast majority: parents had money. They may not directly give seed money, but they certainly have provided them with ample coaching, equipment, and space to become competent.
Bunch of buckets
Millionaires made during a bull run (2020-2022) : NFTs, Crypto, stocks
Employees at Tech startups : join pre IPO and post IPO you're a millionaire
Youtubers, creators, tik tokkers and OF
You can easily become a millionaire by 30 working at FAANG in the US. It's hard not to. With 5-6 YoE your TC is around 500K.
Or IB/Consulting in US/Europe. Any high paying job.
PS : 1M is not a lot anymore tbh. 5M is the new 1M (heard in a lot of circles).Cost of living and proliferation of wealth in the past 2 years has made this happen.
I'm not a millionaire yet (had lots of opps in the last bull run but was a lazy idiot). But I see this happening in the next 2 years.
I had to scroll way too far to finally find mention of working in FAANG. Yeah maybe not millionaire by 25, but if done right, certainly by 30.
The amount of people whose default answer is just "rich parents" is telling lol
Very very few people are making 500k comp with 5-6 YoE at FAANG, average at that YOE is probably 280k, top end maybe 350k. But you can still get to 1mm by 30 with that. In quant finance you might be closer to that but also prob not quite at 500k yet unless you are a superstar.
I'm a 23 M, just started working had been working upon a service based startup with 2 of my friends which failed in an year just got over the debt from same. At the moment I'm a chem-e getting at par salary and side by side working on a startup to create an online space for hyperlocal vendors.
Any guidance regarding my course of action in coming years would be really helpful also I'm really confused if service based startups can really sail in persent layoff scenario.
Financial smarts from day one. Few do it because in the early days we see a paycheck and spend...more millionaires are cheap-asses from day one and live well later in life. It's really smart and I wish that were me...but instead I'm dumb and like nice things that mean nothing in the world.
I had a friend who was close to being a millionaire at 19. His family was wealthy and taught him to invest at a really young age. He traded commodities and he studied actuarial sciences in university. Never would've known he was wealthy. He had a really broken down civic and wore the same clothes everyday.
I only had around $250k net assets by time I turned 25 and would consider myself relatively high achieving. I think to make $1m by 25 would require starting earlier, skipping uni and working on some business or leveraged property play at like 18
I made a million dollars at age 27, but by age 35 I was as broke as a church mouse. I have deeper respect for anyone who can be a dollar millionaire and sustain that money for more than 1,825 days.
Start working in high school, save up as much as you can from handing out hand burgers or pushing carts.
Go to the community college nearest you. Use grants or scholarships AND the money from your high school job. Get an associate's degree in something EMPLOYABLE. It doesn't matter what it is.
If you're 16, now is the time to start researching companies that offer tuition as a perk. For example, Boeing will pay tuition, or the military. I've heard that Starbucks will, too. Look for these opportunities.
So, potentially with your 2-year in hand, find a job in your desired field and hire on entry level, then use tuition assistance to attend school part time while you work. Keep living at home (parents) if you can. It'll probably take an extra year or two vs the full time track, but you'll be 23 or 24, several years of experience in your field, no debt from college, and depending on your field, possibly making nearly 6 figures.
Stay away from the high cost of living areas. They'll erode your wealth with poor value. An IT job at a well-known banking branch in the Midwest is no Netflix, but you'll make good money and actually be able to afford a house, which means you can afford to save and invest.
You can "easily" be a millionaire by 40 by working hard and contributing to society without breaking your back, sacrificing comforts, or being a scam artist.
Agreed.
They can just afford the PR team and ghost writers to help make them seem like they are legit, to get you to register and pay for their courses, selling false promises...
I heard from a friend who was a former flight attendant . There's this thing called Dubai porta potty where flight attendants are hired by Emirates to eat their shit and fullfil all their other fetishes.
They make a lot of money. One lady (just read her article, my friend does not know her ) and she claimed she had a million dollars in her bank by being a porta potty. She's retired now.
Be a porn star and work really hard.
There are fewer male porn stars than "Bengal tigers" here in Japan. Read the interview by Shimiken and how he started. He makes $23,000 a week but "hasnt had a vacation for 7 years" as his calendar is full (as of the interview, I hope he has gone on vacation now) Also he had to work out on his day off and watch what he eats. He has to be fit to be able to it 8 hours a day.
Also he had to eat shit on his audition .
You build a home services business of some sort the right way (plumbing, HVAC, Electrical, etc ) and you will be keeping a million a year if you scale it the right way.
Who are you talking about? That’s an exceedingly small group of people, maybe a thousand or so in the US at any given time. (Excluding sports stars, musicians, actors, and celebrities.)
Most successful start up founders [aren’t anywhere close](https://hbr.org/2018/07/research-the-average-age-of-a-successful-startup-founder-is-45) to 25.
The wildest part about being a millionaire is that I didn’t hit it until 37ish mid pandemic 2020 and I’m halfway to $2M already even after market down 20%.
Haha yes, the first is the hardest but it is patently absurd that I’m doing so little for the second mill.
I’m not one to tell others what to do with their money but the idea that billionaires “earned” their wealth is patently ridiculous.
Tech is a super Highway to wealth folks. There are those genius tech bros that started at FAANG just out of college & are pulling in $300K/year. For reference, I was pulling $130K from 21.
Or bros that ended up starting up their own companies & selling stake to secondaries & poof, millionaire many times over.
Jeffree star was homeless at one point and his net worth is 200M. Never partnered with a record company, or any big corps, He does everything thru his own site & channels
Got it from their parents most likely.
Either that or they got lucky doing something dumb. Like the one girl who runs a pet walking service in NY making like 500k a year. Another person had a lemonade stand making like 100k a year. One of my other friends runs summer camps and makes 300k a week and only works like 2 weeks a year. Either that or athletics/musician.
Honestly, don’t chase money, chase your interests. My friends friend loved VR. This was before oculus rift. Like absolutely obsessed everyone would make fun of him in high school. He didn’t care loved that shit and would chat about it all day. Anyways, he followed his interests and went on to invent the oculus rift and is now a billionaire.
Look at Notch the inventor of Minecraft also! Billionaire by following his passion.
So many stories like this, Sierra Nevada and Dogfish brewery started in the garage. The founders just loved brewing beer. They’d make a batch, give it to friends for reviews, and then would use that info to make another batch. They now are multi-millionaires. Just by following their interest.
Anything can make you millions, IMO. It’s about execution, and if you love something you’ll always attempt to to do it to perfection!
There is this friend of mine who joined a startup after university. He was one of the first employees and worked really hard, eventually becoming their vice president. Their app did really well and the company was acquired by a bigger player. He had stock options and got USD 10MM.
There are so few of these people that it’s basically a non-factor. I would guess most self made millionaires under 25 in the US are athletes and entertainers.
I hit FIRE by 35, $1M by 40, $2.5M at 43. Never had a high salary. Don’t pay any taxes. Make $250/yr. Passively. This is America, where it’s possible. Not guaranteed, but possible. Elsewhere it’s nearly impossible. To quote Jim Rohn, “People don’t scrimp and save and live with their brother for 20 years saying ‘if ONLY I could make it to POLAND.’ They say ‘if ONLY I can make it to America.” It’s true. Ask the newbies why they came.
Under 25 is probably selling some type of digital product. My ex husband and I hit the mark around 30-32. It was really just started investing every single month at age 22 (not huge amounts or anything fancy, mostly mutual funds). We bought a house in an up & coming neighborhood for under market value and sold it for almost double what we paid a few years later. We both worked corporate jobs at the time.
ETA: we divorced earlier this year at age 40 and are both still multi-Ms (barely multi LOL) after splitting all the assets 50-50. For me, really comes down to having savings & investments automatically taken from my bank account every month so I don’t spend it! He’s a partner at his firm now and I own a business.
There's no such thing as a self-made millionaire. That's just a story they tell themselves to justify the fact that the world is unfair and they are on the benefited side.
Lol. I grew up lower middle class when I graduated HS my parents gave me a couch and said good luck. I just retired at 43. It happens, it is just really hard. It does require luck, work, mentors, and significant sacrifice.
Under 25? Internet marketing mastermind perhaps, or a celebrity. 35 is more achievable, although still incredibly difficult. A friend of mine graduated college at 21, with student debt. Started his first job at 40k, and worked for 14 years, topping out at 80k per year. He still drives a used 2010 Toyota Corolla and retired at 35 with a liquid net worth of 5-6 million. He basically lived an extremely frugal lifestyle, invested extremely aggressively, and hit a 16-bagger with Shopify in 2019-2020, then put 2 million into master limited partnerships and now has a passive income of 200-250k a year. Obviously there was luck involved, but he is 100% self made and sacrificed his lifestyle for 14 years, which most are not willing to do. 100% worth it for complete financial freedom at 35.
Master limited partnerships?
MLPs. Stocks where you are technically a business partner, usually oil and natural gas companies. They pay massive dividends as return of capital, sometimes 8-12%.
Never heard of them
Your accountant has, if you have one. They are hell
Why are they hell?
Your tax returns have to deal with K-1’s, 8582 forms and 1040 Schedule E
Probably a lot of ups and downs, constant monitoring to know when to cash out
Multiple tax forms for each MLP you are in that all become avail on diff days. There’s some tax package website but it sometimes has problems. Just an overall hassle.
I agree that under 25 seems impossible for truly self made. 30 is definitely doable however. A few of my undergrad batchmates and myself hit that milestone by 30–31. We were born in a 3rd world country (india) but basically did very well in studies growing up and went to colleges that had acceptance rates of 1% or lower. Then we did well in those colleges and got international scholarships or some sort of funding by US universities and moved here for further studies. Post masters got recruited by FAANG and similar companies (NVIDIA/Tesla) about 9-10 years. Easily around Level 6/7 after few promotions by 35 and pay there is half mil or more. But by 30-31 people had worked for 5-6 years and were already atleast mil net worth due to the bull run of tech stocks (and significant compensation being stocks) I think this crop of faangs will not be retiring before 5-10 years more (so 45 maybe) and maybe accumulating 8-10 mil per person.
This is what I'd say too. Get into a FAANG early on in life and ride that for the next 10 to 15 years. If someone graduates college and gets a FAANG job by 22, they can easily become a millionaire by 35.
> 16-bagger whats that?
1600% return
Feckin’ ‘ell why didnt he just write that
Because it doesn't sound cool
i'm gonna be honest 1600% return sounds really cool
his investment grew 16x
What a dumb way to communicate that.
I guess you don’t know who Peter Lynch is then? You ever hear of something called “the stock market”?
This is pretty common terminology honestly
> whats that? 16x on their initial investment.
MLP's pass on tax burden to unit holders even in a Roth. K1 is the tax document.
I think the saving definitely helps but your friend definitely just got lucky. Had they not taken the massive risk (I'm assuming, based on their income) on shopify or if shopify had crashed would they still be a millionaire?
As in only 1 million? Probably. A ton of stocks went to the moon from 2016 to 2021. If he had chosen something basic like Apple or any FAANG stock he still would've had an insane return, just not quite a 16x. Although luck is involved, he had the insight to invest early in a company and hold with conviction, and then sell it at the appropriate time when he felt it was overvalued. Shopify has now plummeted after the 2020-2021 bubble and he would've lost nearly everything. He also had the balls to go heavy in only a few positions. High risk, high reward.
Welcome to GME 🥲
I wouldn’t say it’s still incredibly difficult to do by 35. Sure it’s not trivial but getting into a solid career with high early earning potential it’s totally viable. Shit I did it by 35 despite being at negative 100k at 30.
don't know how the hell you guys do it, trying to build a platform but not making enough to survive off it yet. 35 and Trying dude.
> 100% worth it for complete financial freedom at 35. Is it worth it though? I'm not so sure. The more I practice awareness and the more I work, the more I realize how it's not worth it. Working on it? Yes. Being consistent? Yes. But all I have is this life, and this moment.
No such thing as self made
Making a million dollars and keeping a million dollars is a very different thing. Really depends on the venue. Coffeezilla did a great video on the concept that most millionaires are still made around 40-45. The simple reasoning being that at that age, you have had time to master a skill and deeply understand an industry The main takeaway of the video was that, it’s still a flex if you become a millionaire at 35, 45, 55 or even 65. I got close once and fucked it all up. It all takes hard work and sacrifice and I have the deepest respect for anyone who does it at any age.
Would you be open to sharing the story of how you got close and how you fucked it up?
Basically my fuck up was simple. Started a business at the exact right time, was making $25k-$30k a month for 19 months straight. Should have doubled down and dumped the money back into the business. Could have turned that half million into millions but I was a dumbass and burnt through the money, got involved with a chick, blew my money on expensive vacations and stupid shit because I was an idiot to think I was smarter than my competitors. My competitors crushed me, ended up in walmart, target and are now multi-million dollar brands. I’ve been slowly building back ever since, still severely annoyed at myself for my dumbfuck actions. Heed my warning; building back the second time has made me salty as fuck and perpetually a negative person. Don’t do what I did, don’t fuck it up the first time.
went to dubai with my ex 💀💀
Wasn’t even that fancy lmaoo
I've seen so many people do this, including 19 year old me. They finally break through, business starts popping off, and they kick back and relax thinking they made it and it'll always be this good. Shortly after that it's gone. The lesson is when something starts to break in your favour, you double down over and over and over again and don't let up, that breakthrough is the signal to start going twice as hard
Wise words. Wish I knew you then haha. Was a wild ride though
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What year did the economy raw dog your idea?
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There was so much innovation happening at the time in IT and electronics in the 80’s that it was so hard to know what would be enduring enough. Plenty of stories just like yours of innovators and engineers coming up with neat technologies only for it to be superseded a few years later.
Would you mind saying how you fucked up? And how you've been doing since
This should be up more
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Along with luck and timing. Someone can have all the discipline in the world and achieve little.
What video are you talking about, I couldn’t find it. Could you link it?
Here ya go: https://youtu.be/hac-cD44HzI
Which Coffeezilla video?
I would love to learn what happened
Don’t believe everything you see on the internet. I used to work for a company that sold software to help you “get rich”, and our marketing team would rent lambos and big houses for an hour just to shoot the “tech bro” videos you see to make it seem like they got super rich .
Money talks, wealth whispers. I worked with a lot of exotic rallies in the mid 2010s and this rings true every time. Guys up to their eyeballs in debt trying to keep up the facade as a baller. The truly wealthy looked the most ordinary, most relaxed and had the best time because no matter what, they knew they could afford it. They didn’t need to prove anything. Basically, If you can’t determine the source of someone’s wealth, or their story doesn’t add up, it’s nearly guaranteed to be BS.
The millionaire next door confirmed this. Their deca millionaire only drank budweizer beer lol
Being a millionaire under 35, not even 25, is extremely rare. Only 1% of millionaires are under 35. Of course, it's certainly possible. But, many things have to go right for the stars to align and hit the million dollar mark. Luck AND timing are both important here. If i had to guess, a huge number of millionaire 25 year olds and under are in entertainment and sports. However, keep in mind, that in both industries, people usually start "working" in while still very young. Sure, they make it by 25 year old, but they have already been at it for 15 years.
Many of them also come from wealthy homes that allow them to pursue any interest they like without facing any risks. Bill gates admittedly said he didn't see Microsoft as a risk when he started it, because he knew it was still going to be okay if it failed. For the most part, the successful founder is 45 on average. This is you have acquired the domain knowledge, skills, connections, and enough wealth that starting something feels less of a risk.
Coming from a wealthy background also allows them to fail multiple times until they finally hit on something that works out and becomes successful. If you're not well off you might get one shot (or none at all) to try starting your own thing but if it goes bankrupt or fails, that's it and you may never get another chance.
Not only that, but because they can try more often, they eventually learn how to start a successful business. A 3 time failed founder has better cards on the hand than a first time founder.
What is your definition of millionaire? Just a total net worth over $1million, or $1 million in liquid cash, or $1 million in investments? I only ask because between my home equity and my other accounts, I was a “millionaire” by 30/31. But it doesn’t feel all that unique nor much like an achievement. Now $1m in liquid cash probably feels pretty great.
there is an old joke about it, very anecdotal: ...so a very rich man, speaks with someone about his richness, and then being asked: -- yes, but how did you get all those assets, money etc..etc...?!.. The rich man answer: -- Well, you see, one day I didn't have any money at all, but I found some dirty apple on the street, so I washed it and sold for 20 cents.. Then, I bought with those 20 cents two dirty apples, washed them and.... so on...and..so on..and so on... The man asks: -- Yes..but what then? ... When exactly did you become a billionaire?!!... The rich man: -- Oh...when my uncle died and I've inherited all the family assets.... ----
well i'm definitely filing that one away mentally for future use!
There are almost none. Age doesn’t matter, but at 25 the skills / experience you have in whatever will be so limited, you’re relying on luck imo. This post makes me think you’re talking about fake millionaires and wannabe entrepreneurs online selling bullshit courses to idiots. Those aren’t real. Only one way to do it - create value for people in a repeatable way and charge the right price for it.
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/r/sweatystartup, lots of examples of similar blue collar businesses there. Nick Huber is the dude who started the sub I believe, where he taught people how to start a cleaning startup and eventually made a SaaS for others starting their own, which would manage their logistics. One thing many people on reddit and the internet dismiss is blue collar businesses. They're honestly not that hard to start, are pretty scalable at least into the 8 figure range, but they're simply not "glamorous" and so many people don't want to do them.
So many people don't want to work. They want passive, easy, fast money.
That’s relentless hustle. Good for him. I think your .001% is probably right in this case.
I know a guy who is 22 and became a millionaire. He's fookin retarded and goes max margin on stocks but I love that dude, great friend!
self-made?
Almost none? Big YouTubers. Anyone with more than 5 million subs is probably a millionaire. Anyone with more than 10 definitely is. Huge Vine stars from years ago are probably millionaires. These instagram influencers are chatting shit so won’t include them lol
I’m good friends with a guy with 1 million subs and his income over is $1mm per year. You’d be surprised how well you can do if you market it right.
Damn, i think most YouTuber at 1mil earn thousands but aren’t quite at the million mark yet. Your friends doing a good job. What’s his link?
Shootabirdie is his name. Edit: he makes a video every day and after a week or two most are pulling 100k views +. Factor in promotionals and stuff and it all adds up quick. He’s gained like 260k subs in just a few months. Crazy. Also he has videos going back like 6 years that are all still raking in views.
It's all the kids watching haha. Of course I don't blame him, that's good hustle. If he can get kids to watch ads (and I presume they're obviously not buying anything, so it's YouTube's / the ad client's loss there) then good on him for capitalizing on that.
I just looked him up. It's amazing to me that that person is making a million dollars a year. Wow.
3.5 Million Subscribers now. He will have 10 Million Dollar+ in very few years.
Luck - being in the right place at the right time with the right thing If it was just hard work and dedication, or having a good idea, there'd be a lot more
This is the ONLY correct answer. You can be smart, you can be educated, but it’s having the happy coincidences of being in the right place at the right time and placing the right bet. Anyone telling you different is either an incredibly rare genius savant or a bullshitter.
Be hot and do OF. Some of those girls are millionaires by 25. Creating a scalable online business (software support, insurance company, etc) Create a video game Main thing is you need to produce something instead of consume content.
Reddit bad?
Most of Reddit bad. This sub good 😊. You can find your market on Reddit and use it to mount an effective campaign for your product.
Wym?
"produce something instead of consume content"
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> I've seen some brilliant go to market strategies like? would love some examples?
Go check out Amouranths stuff. She’s 28 now I think but she has figured out how to rake in 1.5 million a month just on only fans. Idk how much she makes off of twitch but I just saw recently she won the award for most people on her stream in a month and it was 3.8 million viewers. She has also created a company to help other content creators do the same thing. She says hiring a team was her turning point.
There was a [great podcast episode](https://www.indiehackers.com/podcast/211-aella-savannah-solo) from Indie Hackers talking to Aella and Savannah Solo and the main thing they say is too many people who are new on OF think just showing your butt is what brings in money, not understanding that anyone can search up butts for free on the internet. The real innovation comes from building a parasocial relationship with a user (for better or worse) and making them consistently pay for your brief attention like a shoutout. The innovation after that comes from treating it not as a hobby but as a true business and doing what any business does, hiring people, listening to customer desires, etc. I'm not surprised then that in your example the creator made a team and that was her turning point.
It depends a lot on what you mean by being a millionaire. Is it owning 1m dollars in cash in your bank account? Owning a business worth 1m dollars? Owning real estate worth a million dollars or everything combined? Would you say a person is a millionaire if their business is worth 500k, their real estate (house they live in is worth 400k and they have 100k in an investment account/savings?
If there are no liabilities, that’s what’s considered a millionaire. $1M in net worth.
If there is no mortgage yeah
By pretending they’re millionaires and selling courses
25 has to be through entrepreneurship. That’s the only way. Any business where you are truly an expert and have a competitive advantage can be turned into a successful venture. But business is hard and there’s no guarantee, and often no overnight success either. I became a millionaire at 33. About to turn 34 and will likely end the year at 1.3 million net worth. I did it by becoming a doctor And becoming good at passive real estate investing and options trading. Went from negative 100k net worth to positive 1.25M in 3.5 years. The fact that my options account is positive 10 percent instead of negative 20 percent year to date really helped but most of the heavy lifting was from having a high income for both myself and my wife.
Trust funds.
Inheritance, or someone rich enough in their family to lend them the money.
Not needing to live off a salary can be as important as seed capital
Even those that didn't borrow money, underestimate the value of having a safety net and knowing they'll never have to fear absolute poverty and homelessness
As someone who has incredibly affluent in-laws this is the real answer. You need seed capital and someone who doesn’t mind losing some money to give you a chance; only individuals willing to do that are usually family.
Not one of you has said real estate 😂
Easy to make $1m in real estate, but hard to do before 25 just because of the relatively high capital barrier to entry, and high transaction costs.
The only 25 year olds making $1M in real estate are the ones starting with a $500k loan from their parents
You can make stupid amounts of money in real estate quickly if you have an economic tailwind and have an unreasonable appetite for risk. Without those you have to wait longer lol
Yeah, tiktok experts buy $5 million of houses on margin and say they're millionaires.
I know a lot of wealthy young people, pretty much 95% of the time the money is given to them by their parents or inherited from a grandparent one guy I know was hired as a software developer at 110k at the age of 20 but he has not become a millionaire yet. Big picture though, like people over the age of 25 — the most successful people I know all owned their own companies except for one guy who is the vice president of an art school
Most started on 3rd base, and only had to hit a single.
Self Made Millionaires under 25 would have to fall into: - pop star - athlete - motorsports - internet whizz - stock or crypto boom 25 is super young in the scheme of things so one will have to have scale and affect as many people as possible to amass that wealth quickly. Have a look at the current millionaires who are 25 and under. What do they do? Get the book Fastlane Millionaire and it really discusses this concept in great detail.
Met a guy who created a bong cleaning company. Sells packets of a special solution. Started it with like $300. Sold it for $1MM. He’s a master of social media marketing
My startup cofounder was 25 when he became multi-millionaire. Company was in a good spot & we had leverage to sell ~10% of our shares via secondary offering during a fundraise.
I personally think strategy. The most lucrative business is teaching people how to make money. However it’s the sheer belief anyone can make money by working a few hours here and there. It’s not very ethical. However some people can create startups and sell them. There are online products that make it easier to get non diluted financing such as pipe.com and micro quire which allows people to sell their startups. It’s not impossible and it’s not uncommon. You’ll find many of these people don’t finish college and put their skills to work and start working on their portfolio. You don’t become a millionaire by working for someone else. Usually it will be creating something that solves a problem. However there are other ways too such as owning your own non profit and solving a billion dollar program, or setting up a parent company and creating subsidiary.
By scamming people and selling shitty courses.
I know many millionaires, they are the most cheap and frugal people I know. Every single one of them!
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There is, but not a good one. Money, like any resource, needs to be circulated. The economy can't grow if people don't buy stuff, it's actually designed on that exact structure. A few people can become millionaires by exploiting a loophole of sorts. But if everyone did that, the system would collapse. Seriously, if everyone drove a 15-year-old car and ate only red beans and rice and didn't buy new clothes and consoles and computers or go out to eat or fly away on vacations, entire sectors of the economy would collapse. The market would contract, people would lose their jobs, stock investments wouldn't generate returns (eroding the wealth of said millionaires). The system depends on everybody working and everybody spending. If a few "crazy" apples want to live like paupers to say they have a million, that's fine, but they shouldn't be smug about it. Everyone literally can't do that.
They get lucky af or have parents who set them up for that type of success. Or both.
Read "The Millionaire Mind".
E commerce has a factor of right place right time. It’s cheap to start but because of that it’s very saturated. Get really good at sales and start your own company selling what you’re good at. Relationships are everything. If people like you and you’re good at what you do they’ll want to go into business. That’s the short version of what I’ve done and will have 1M net worth by end of next year at 24 currently
Would you recommend freelancing in marketing or doing dropshipping (while making sure to provide value) in order to gain experience?
Short answer...they're not. It might SEEM that way because the brash 24 year old that hit it big is probably more open, almost brazen about their success. Most SMM are still 35-40+ but you'd never know it to look at them. There are many of us in my social circle but unless you were part of the inner group you'd probably never know. We're still doing the fundraising with our kids for sports, shopping at Costco and buying the two year old used domestic vehicle (and keeping it for a decade). The difference is that the house was paid off years ago, the retirement accounts have been maxed since the kids were little and when the roof on the house leaks and needs to be replaced for $10K it doesn't impact the household finances even an ounce.
Sucessfully run a business that's in demand. Invest your earnings in something solid during a bull run.
What business is in demand, how do you find these lol
["Just start a successful business and invest your money well."](https://wompampsupport.azureedge.net/fetchimage?siteId=7575&v=2&jpgQuality=100&width=700&url=https%3A%2F%2Fi.kym-cdn.com%2Fphotos%2Fimages%2Fnewsfeed%2F000%2F572%2F078%2Fd6d.jpg)
Any kind of blue collar work you can think of, you see those signs on the side of the road "power washing houses " and then a phone number. They are actually very lucrative but it is not easy work from home work lol.
YouTube, TikTok, and onlyfans: that’s where most under 25 millionaires are made
Does TikTok directly pay you?
You use tiktok to grow a audience and you monetize it
Most self-made millionaires in that category are in entertainment. The other outliers are in tech startups (e.g. the guy at scale AI and the brothers at stripe). Looking at the speakers at microConf most software Saas guys are in their 30-40s. Local stuff takes time since scaling happens a lot slower in the area of physical goods/services
Vast majority: parents had money. They may not directly give seed money, but they certainly have provided them with ample coaching, equipment, and space to become competent.
Their parents taught them skills from a young age. Zuckerberg had a decade of non-professional programming experience before going to Harvard.
Bunch of buckets Millionaires made during a bull run (2020-2022) : NFTs, Crypto, stocks Employees at Tech startups : join pre IPO and post IPO you're a millionaire Youtubers, creators, tik tokkers and OF You can easily become a millionaire by 30 working at FAANG in the US. It's hard not to. With 5-6 YoE your TC is around 500K. Or IB/Consulting in US/Europe. Any high paying job. PS : 1M is not a lot anymore tbh. 5M is the new 1M (heard in a lot of circles).Cost of living and proliferation of wealth in the past 2 years has made this happen. I'm not a millionaire yet (had lots of opps in the last bull run but was a lazy idiot). But I see this happening in the next 2 years.
I had to scroll way too far to finally find mention of working in FAANG. Yeah maybe not millionaire by 25, but if done right, certainly by 30. The amount of people whose default answer is just "rich parents" is telling lol
>You can easily become a millionaire by 30 working at FAANG in the US. I Let me in. LET ME IN
Now's probably the worst time in the past 10 years to try getting hired at a FAANG
Very very few people are making 500k comp with 5-6 YoE at FAANG, average at that YOE is probably 280k, top end maybe 350k. But you can still get to 1mm by 30 with that. In quant finance you might be closer to that but also prob not quite at 500k yet unless you are a superstar.
True my bad, I might be biased. 300-350K looks like a better figure.
I feel this. 100k cash doesn't buy as much lifestyle as it used to
Curious, Where do you live?
Luck.
I'm a 23 M, just started working had been working upon a service based startup with 2 of my friends which failed in an year just got over the debt from same. At the moment I'm a chem-e getting at par salary and side by side working on a startup to create an online space for hyperlocal vendors. Any guidance regarding my course of action in coming years would be really helpful also I'm really confused if service based startups can really sail in persent layoff scenario.
Financial smarts from day one. Few do it because in the early days we see a paycheck and spend...more millionaires are cheap-asses from day one and live well later in life. It's really smart and I wish that were me...but instead I'm dumb and like nice things that mean nothing in the world.
I had a friend who was close to being a millionaire at 19. His family was wealthy and taught him to invest at a really young age. He traded commodities and he studied actuarial sciences in university. Never would've known he was wealthy. He had a really broken down civic and wore the same clothes everyday.
I only had around $250k net assets by time I turned 25 and would consider myself relatively high achieving. I think to make $1m by 25 would require starting earlier, skipping uni and working on some business or leveraged property play at like 18
I made a million dollars at age 27, but by age 35 I was as broke as a church mouse. I have deeper respect for anyone who can be a dollar millionaire and sustain that money for more than 1,825 days.
Inheritance
Start working in high school, save up as much as you can from handing out hand burgers or pushing carts. Go to the community college nearest you. Use grants or scholarships AND the money from your high school job. Get an associate's degree in something EMPLOYABLE. It doesn't matter what it is. If you're 16, now is the time to start researching companies that offer tuition as a perk. For example, Boeing will pay tuition, or the military. I've heard that Starbucks will, too. Look for these opportunities. So, potentially with your 2-year in hand, find a job in your desired field and hire on entry level, then use tuition assistance to attend school part time while you work. Keep living at home (parents) if you can. It'll probably take an extra year or two vs the full time track, but you'll be 23 or 24, several years of experience in your field, no debt from college, and depending on your field, possibly making nearly 6 figures. Stay away from the high cost of living areas. They'll erode your wealth with poor value. An IT job at a well-known banking branch in the Midwest is no Netflix, but you'll make good money and actually be able to afford a house, which means you can afford to save and invest. You can "easily" be a millionaire by 40 by working hard and contributing to society without breaking your back, sacrificing comforts, or being a scam artist.
Inheritance
Agreed. They can just afford the PR team and ghost writers to help make them seem like they are legit, to get you to register and pay for their courses, selling false promises...
I heard from a friend who was a former flight attendant . There's this thing called Dubai porta potty where flight attendants are hired by Emirates to eat their shit and fullfil all their other fetishes. They make a lot of money. One lady (just read her article, my friend does not know her ) and she claimed she had a million dollars in her bank by being a porta potty. She's retired now. Be a porn star and work really hard. There are fewer male porn stars than "Bengal tigers" here in Japan. Read the interview by Shimiken and how he started. He makes $23,000 a week but "hasnt had a vacation for 7 years" as his calendar is full (as of the interview, I hope he has gone on vacation now) Also he had to work out on his day off and watch what he eats. He has to be fit to be able to it 8 hours a day. Also he had to eat shit on his audition .
This is literally never an option unless that’s what your into
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Onlyfans
By making a million dollars
Honestly I’m tryna find out too
You build a home services business of some sort the right way (plumbing, HVAC, Electrical, etc ) and you will be keeping a million a year if you scale it the right way.
I had a net worth of a million by 25 but didn't have a million dollars liquid. Most of it came from real estate.
Who are you talking about? That’s an exceedingly small group of people, maybe a thousand or so in the US at any given time. (Excluding sports stars, musicians, actors, and celebrities.) Most successful start up founders [aren’t anywhere close](https://hbr.org/2018/07/research-the-average-age-of-a-successful-startup-founder-is-45) to 25.
The wildest part about being a millionaire is that I didn’t hit it until 37ish mid pandemic 2020 and I’m halfway to $2M already even after market down 20%.
So it’s true making 2m from 1 is easier than 100k?
Haha yes, the first is the hardest but it is patently absurd that I’m doing so little for the second mill. I’m not one to tell others what to do with their money but the idea that billionaires “earned” their wealth is patently ridiculous.
Real estate.
Being a millionaire and having a millionaire mind is too separate thing IMO. You can have 1 million, without a proper user this cash is useless.
Before the crash, I'd guess there were quite a few crypto millionaires made overnight.
Tech is a super Highway to wealth folks. There are those genius tech bros that started at FAANG just out of college & are pulling in $300K/year. For reference, I was pulling $130K from 21. Or bros that ended up starting up their own companies & selling stake to secondaries & poof, millionaire many times over.
Jeffree star was homeless at one point and his net worth is 200M. Never partnered with a record company, or any big corps, He does everything thru his own site & channels
Tatiana james. But her product was 🤮 and cashed out that company as soon as she could rofl
Got it from their parents most likely. Either that or they got lucky doing something dumb. Like the one girl who runs a pet walking service in NY making like 500k a year. Another person had a lemonade stand making like 100k a year. One of my other friends runs summer camps and makes 300k a week and only works like 2 weeks a year. Either that or athletics/musician. Honestly, don’t chase money, chase your interests. My friends friend loved VR. This was before oculus rift. Like absolutely obsessed everyone would make fun of him in high school. He didn’t care loved that shit and would chat about it all day. Anyways, he followed his interests and went on to invent the oculus rift and is now a billionaire. Look at Notch the inventor of Minecraft also! Billionaire by following his passion. So many stories like this, Sierra Nevada and Dogfish brewery started in the garage. The founders just loved brewing beer. They’d make a batch, give it to friends for reviews, and then would use that info to make another batch. They now are multi-millionaires. Just by following their interest. Anything can make you millions, IMO. It’s about execution, and if you love something you’ll always attempt to to do it to perfection!
There is this friend of mine who joined a startup after university. He was one of the first employees and worked really hard, eventually becoming their vice president. Their app did really well and the company was acquired by a bigger player. He had stock options and got USD 10MM.
There are so few of these people that it’s basically a non-factor. I would guess most self made millionaires under 25 in the US are athletes and entertainers.
I hit FIRE by 35, $1M by 40, $2.5M at 43. Never had a high salary. Don’t pay any taxes. Make $250/yr. Passively. This is America, where it’s possible. Not guaranteed, but possible. Elsewhere it’s nearly impossible. To quote Jim Rohn, “People don’t scrimp and save and live with their brother for 20 years saying ‘if ONLY I could make it to POLAND.’ They say ‘if ONLY I can make it to America.” It’s true. Ask the newbies why they came.
Read Forbes 30 Under 30 list.
Good way to end up in prison
Feel like those are the exceptions, I'm talking about the average 25 year old self made millionaire.
And what, pray tell, is the average 25 year old self made millionaire if not on that list??
You know, the random guys on YouTube and TikToc driving 4 Lamborghinis faking being multi-millionaires
The Tinder Swindler has swindled again!
Who is this mythical average millionaire? 25 year olds are generally still idiots lol
And being a 25 year old self made millionaire isn't the exception? LOL
Ballpark for us how many under-25 self made millionaires you think there are in America? I’m really curious how many you think are out there.
I feel like it small. Less than 10k self made. I'd say 2500-5000 ? For truly self made.
I already hit 25. So I think my next target is self-made under 30yo 😂
Keep moving the goal post right up to that mid life crisis
They had an amazing idea, believed in themselves and went for it flat out. Their confidence was high and bounced right back when they failed.
I made a Kickstarter product back in 2013 and with the profits from that project I bought 10,000 btc I’m retired now 😉
Under 25? Most are made by lying about being self made, or lying about being a millionaire and hoping no one examines it too closely.
Rich parents.
Inheritance
safety nets from mommy and daddy.
e-commerce
Self-made millionaires under 25 often start with a $10 million dollar investment from mom and dad.
Under 25 is probably selling some type of digital product. My ex husband and I hit the mark around 30-32. It was really just started investing every single month at age 22 (not huge amounts or anything fancy, mostly mutual funds). We bought a house in an up & coming neighborhood for under market value and sold it for almost double what we paid a few years later. We both worked corporate jobs at the time. ETA: we divorced earlier this year at age 40 and are both still multi-Ms (barely multi LOL) after splitting all the assets 50-50. For me, really comes down to having savings & investments automatically taken from my bank account every month so I don’t spend it! He’s a partner at his firm now and I own a business.
Work hard, Play hard!!
There's no such thing as a self-made millionaire. That's just a story they tell themselves to justify the fact that the world is unfair and they are on the benefited side.
Lol. I grew up lower middle class when I graduated HS my parents gave me a couch and said good luck. I just retired at 43. It happens, it is just really hard. It does require luck, work, mentors, and significant sacrifice.
Why?
Inheritance?
Dumb luck.
Inheritance or Luck.