10 Essentials to Becoming a Millionaire in Your 20’s

1. College and graduate school are irrelevant.

If your number one goal is to become a millionaire, not to hold a specific type of job, then college and graduate school are pretty much irrelevant. They cost money, they can put you in debt and if you want to be a millionaire, you can learn everything you need to know online about most things without the big tuition costs.

2. Focus on profiting from boring niches.

So many people today think that if they want to become a millionaire, then they need to do so by following boring, widely accepted niches. It will take ages for you to become a millionaire through traditional occupations like becoming a lawyer, doctor or banker (in fact, these occupations usually have earnings limits that are very difficult to break through). Push past these pre-conceived notions of what it takes in order to become a millionaire. You don’t need to spend years in school to be a millionaire.

Read: How to Network Like a Millionaire

3. Sacrifice your social life to study.

It can be really hard to want to sacrifice your social life, especially when you are in your early twenties. However, if you want to truly become a millionaire, you need to be willing to sacrifice your social life in order to focus on your career. Spend this time studying, perfecting your talent or working on your skills, product or developing your company. The more you can focus on working on your talents instead of being out socializing, the better your time will be spent on becoming a millionaire.

4. Accept defeats and mistakes along the way.

No matter where you are looking to go with your career, chances are you are going to face a number of defeats and setbacks. These mistakes are completely normal. What is important is how you handle them. My first millionaire student Tim Grittani actually lost a lot trading stocks for the first few months until he got the hang of it. Mistakes are normal. How you handle them is what sets you apart.

5. Aim higher than one million.

Money shouldn’t be your endgame. Rather, you should focus on making the best product or service possible, and the money will come as a result from that. Your goals should always be growing and you should never feel like you are done working towards your goals. If you want to make $1 million, the second you reach that goal, you should be looking to your next one.

Read: 10 Characteristics of Successful People

6. Don’t scam people.

The key to making millions is patience and honesty. You need to be forthright when it comes to working with others, or you will never make as much money as you want to. Criminal or unethical money never lasts and it will never give you the type of professional reputation that you can use to create millions.

7. Take advantage of hot sectors.

When certain sectors are really hot, you need to get in early to make your money. Take advantage of these hot sectors to start making your millions. Right now one of these hot sectors is social media, specifically Instagram, Snapchat and Periscope. These hot sectors can lead you to the millions you want to make.

8. You don’t need to focus on next generation technology.

Many aspiring millionaires — especially young aspiring millionaires — think that they need to focus on next-generation technology in order to make their fortunes — this isn’t the case. Even merging something old and boring with a fresh take is what led to the creation of eBay.

9. It doesn’t matter where you live.

One of the great things about the Internet is that it allows for sales, commerce and profits to come from anywhere. You can run your business anywhere that you have an Internet connection; you don’t need to physically live in a big market to make money. This is a great opportunity to live somewhere you actually want to live while still making a great deal of money.

10. Your business doesn’t need to profit for you to succeed.

So many people are only focused on creating a business that has profits. Businesses don’t need to have profits — they just need growth, users and some edge. Many businesses are acquired just for their attributes other than profit margins (just look at how many Internet startups get sold). Focus on user growth rather than raw profits. No one pays for a good idea that’s lacking in users.

(For Beauty, Book, Entrepreneur, Business Bloggers & More!)
Article Credits Go Respectably to Entrepreneur Media, Inc.
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67 Comments
  1. A K A M E R A 3 years ago

    Awesome post! I love your page! take a look at my post on the shows I attended for NEW YORK FASHION WEEK, please! https://akamera.wordpress.com/2016/03/10/nyfw-fw-16/

  2. […] Source: 10 Ways To Become A Millionaire in your 20’s (For Fashion Bloggers & More!) […]

  3. samjsanderson 3 years ago

    This was such a great post! I’m really blown away. I really like the example about trading stocks. Failure is a given it is so true, it just depends how you deal with it that separates the winners!

    • samjsanderson 3 years ago

      If you’re only in high school you are destined for great things! Keep learning and growing you are way ahead of most people your age.

  4. Dreaming of Mae 3 years ago

    Your blog is one of my favorites. I love that you’re active and comment back to everyone <3 thank you!!!

  5. Miss Exploraholic 3 years ago

    Amazing read. Read some of my interesting stuff here https://missexploraholic.wordpress.com/category/fashion-lifestyle-2/

  6. thekurlypineapple 3 years ago

    Reblogged this on thekurlypineapple.

  7. SimpleTechLife 3 years ago

    I think this couldn’t be more than accurate, at only 20 I’m trading stocks, own real-estate, and continuously learning. You’re preaching the truth!

  8. Edu Ruiz Leon 3 years ago

    High school! The brightness of your future is blinding me.

  9. Jay Colby 3 years ago

    Great post

  10. The Little Mermaid 3 years ago

    Wow! This is one fabulous piece of informative writing. Thanks for sharing with us! I enjoyed it.

  11. Sakeenah Aleem 3 years ago

    Great ideas! I loved!!

  12. Jona 3 years ago

    I couldn’t refrain from commenting. Very well written!

  13. Merih T 3 years ago

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  14. Graziella H. 3 years ago

    Great post

  15. […] via 10 Essentials To Becoming A Millionaire in your 20’s (For Fashion, Beauty, Book Bloggers & Mo… […]

  16. miraclewingsweb 3 years ago

    That’s awesome! Spot on! Perfect!

  17. briandalynn 3 years ago

    Good read, thanks!

  18. Andrew Joseph Pegoda 3 years ago

    But, focusing only on money only causes a person to be more unnecessarily stressed out. And don’t discount college and grad school so much! 🙂 Higher education is a great place to make connections and really learn new, diverse, complicated ideas. Education is essential to critical thinking, which certainly helps one earn more money.

  19. Eugenia 3 years ago

    This is an enlightening and very useful post. Very well written and and exudes common sense.

  20. […] via 10 Essentials To Becoming A Millionaire in your 20’s (For Fashion, Beauty, Book Bloggers & Mo… […]

  21. martins520 3 years ago

    Reblogged this on martins520.

  22. ClearDope 3 years ago

    Damn this was good, It’s awesome that I can actualy make it happen and become a millionaire in my 20’s, because I’m only 18. Feels good 😉

  23. Adelaida Little 3 years ago

    Found the information Valuable.

  24. mylifeasishan 3 years ago

    Great post

  25. rfh 3 years ago

    This is great

  26. jake 3 years ago

    So true…thanks for the advice
    Johnvikthor.wordpress.com

  27. […] via 10 Essentials To Becoming A Millionaire in your 20’s (3 min read) — The Millionaire’s Dige… […]

  28. unmotivatedenthusiast 3 years ago

    Step 1. Have rich parents
    Step 2. Be born
    Step 3. Profit 😛

  29. […] Read: 10 Essentials to Becoming a Millionaire in Your 20’s […]

  30. […] Read: 10 Essentials to Becoming a Millionaire In Your 20’s […]

  31. […] Read: 10 Essentials to Becoming a Millionaire in Your 20’s […]

  32. kds407 3 years ago

    Interesting post! I’m striving to become someone that will make history while having autism and this article gave me something to work with! Hopefully I WILL become that person because I have a lot of talent within me that needs to be awakened, including with the creations I’m working on. If you want to find out what my creations are, come check out my blog! See as many posts as possible from me so you can see who I am and what I’m trying to do in life!

  33. seekpeaceadmin2 3 years ago

    Great post!!

  34. barrymudenda 3 years ago

    Sport on!!

  35. barrymudenda 3 years ago

    Spot on!!

  36. […] via 10 Essentials to Becoming a Millionaire in Your 20’s (3 min read) — The Millionaire’s Dige… […]

  37. keinosha 3 years ago

    Visit and follow my new blog please thank you

  38. D. Jeff Heggie 3 years ago

    Great post!

  39. Adriana Gomez 3 years ago

    Great post!

  40. travelchild95 3 years ago

    Amazing read! Really made me think! Would love it if you gave my new blog a read – http://www.travelchild95.wordpress.com

  41. freespirit 3 years ago

    this is the kind of information we need in this world to uplift each other and keep on hustling no matter what,I like the posts in this blog

  42. callmetrav 3 years ago

    This information was very helpful. Thank you.

  43. Inspiring and Informative post!

  44. Reading this is highly motivating so thanks!

  45. wishes.spardha 2 years ago

    Great post

  46. Tim 2 years ago

    Absolutely. College can be a scam.
    https://millennialblueprint.wordpress.com/

  47. lifefunwithsaurabh 2 years ago

    Inspiring

  48. shamimsobhani 2 years ago

    I have to say that I agree with number 1. Irrelevant!

  49. probableman 2 years ago

    I agree with all of them. They are my creed!

    Mr. Q
    https://landlorddrama.com/

  50. keynia20 2 years ago

    Great Article!!

  51. aleeyaazimulla 2 years ago

    Love it!! Always such motivating posts

  52. wineandwaunderlust 2 years ago

    Great post thank you!

  53. Zada 2 years ago

    Inspired me, and felt proud to some degrees about what I am doing,

    The post is best, especially to focus on bored topics,

    From my experience people hate boring topics and people, they try to stay away, but the the success begins here,

    Thanks for sharing,

  54. foodiememories 2 years ago

    Reblogged this on FOODIE MEMORIES.

  55. haliskingdom 2 years ago

    Great post, you should also think about finding your true message and calling in life and the money will follows.

  56. Pearl Necklace 2 years ago

    #10 without profit your business will not be able to carry on to the future and will be forced to close, business that do not need profit from activity is some form of comercial activity in itself is not a business and we understand it

  57. Thank you for sharing this inspiring post! ?

  58. […] via 10 Essentials to Becoming a Millionaire in Your 20’s (3 min read) — Millionaire’s Digest […]

  59. […] Source: 10 Essentials to Becoming a Millionaire in Your 20’s (3 min read) […]

  60. miss_ananya 2 years ago

    This post is absolutely beautiful and I am saying it from my heart! Thank you for sharing, it is really inspiring .

  61. […] via 10 Essentials to Becoming a Millionaire in Your 20’s (3 min read) — Millionaire’s Digest […]

  62. […] via 10 Essentials to Becoming a Millionaire in Your 20’s (3 min read) — Millionaire’s Digest […]

  63. keniesoleil 2 years ago

    wow. This is really a nice blog!

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