How to Become A Millionaire By 30

Becoming a millionaire by 30 in today's marketplace, is completely different than it was 10, 15, or 20 years ago.

It's actually easier. 

By definition, I am a millionaire. And I'm 29. While I do not have a million dollars in my bank account, our combined assets (house, cars, stock, savings, etc) equal greater than $1 million. This is the story for many young Americans who have unlocked the secrets to wealth creation.

But how did we do it? What does it really take to produce substantial income early in life? Below I have outlined a few strategies I've noticed in this outlier community of young millionaires.

1. They Prioritize Very Early
In 2002, I was only a junior in high school. But I was also very clear on what I wanted life to look like by 30. Where I would live, if I would be married and have children, whether I would attend college or start a business, what type of freedom I would have and more.

On graduation day, I remember writing a personal mission and vision statement in a notebook at the dinner table of parent's house. I plastered it in my car and the mirror of my bathroom.

Then, I began reverse engineering.

What would it take to achieve this vision? What behaviors would I need to adopt? How should I budget my money? What type of girl should I be dating? Nothing was left to chance.

While this may seem a bit “overly-structured” for a young person, it's this level of prioritization that often makes the difference between those who find freedom and wealth and success and those who don't.

2. They Are Fanatical Achievers
One of my favorite quotes is, “Obsessed is the word lazy people use to describe the dedicated.” And the word obsessed and millionaires go quite well together. Almost like a disease you want to catch. An addiction at it's purest form yet manageable by its greatest victims.

If you know me well, you'll learn I am fanatical. Everything I do is at a 10.

For example, earlier today I was walking with a friend who asked me if I had ever got into gaming. My wife quickly replied, “No. Dale was always afraid if he got into gaming it would take too much time away from achieving his goals in life.”

It's true. My extreme dedication has left my 20's riddled with the footprints of sacrifice and lost experiences. But it's also the reason our family can enjoy our children, take vacations, and work only when we want to.

3. They're Very Good With Money
It takes a unique level of discipline and genius to manage money well at this age. Especially if you come from a family who never quite got it right.

Young millionaires understand 3 things:

  • What efforts will undoubtedly produce money: Starting a business, positioning themselves for a lucrative career, or generating passive income streams.
  • How to live a life well below their means: No debt (no matter what), saving 20% of their monthly income, not buying things they don't need, and keeping expenses very low.
  • The makeup of a good investment: Reinvesting profits into measurable efforts, low risk and high return opportunities, and intelligent asset purchasing (houses, cars, and equipment).

Luckily, all of this can be learned. A few books, classes, and a dedication to healthy financial management will put you far ahead of the crowd.


This blog post was written by an independent guest contributor.
Author Name: D Patridge.

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108 Responses

  1. I enjoy discussions and interactions like this. I’m a young lady trying to find her path in the journey of life. Yes i’ve passed 30 but I dont project being the way I am now by 35. I want to take full control of my life, my finance, my destiny. I need help in order to scale through. I want to associate with people who’ve got clear vision of where they are going.

  2. Hey Dale, my name is Crystal. I am 26 and, funny, I’m feeling like time has already slipped from me. I still don’t know what I want to be when I grow up. Should I go back to school to be inspired, read a bazillion books, act on my inspired whimsies? Is there one thing that was pivotal in your quest for entrepreneurship? Or maybe I have your quest all wrong?
    Thank you for your time

  3. Hi Dale,

    I am 23 and work in local government. I am student loan debt and I really am trying to retire by 35 and live comfortbaly. I am starting to save 20% of my income but I literally just started doing that. I have no savings and I would like to purchase stocks. Any advice on how to achieve my goal? I am determined and dedicated now.

  4. Hey Dale!

    Thanks for the inspiring article. I’m 28. I’ve never had enough to do things that I love in life so far. letting alone acting as someone who can be the superman for others!
    I’ve switched jobs you can’t even imagine. Losing my Dad at the age of 5 rushed me a little more than the normal pace in the process of growing up. Thank God I’m still here and hanging in. But when all your needs and problems transforms into frustration you would finally see what you lack. the only most important thing in life that works as the oil for this big machine we all call “the world” and that would be “Money”. Anyway I need some help here.In the article above you said: ”
    all of this can be learned. A few books, classes, and a dedication to
    healthy financial management will put you far ahead of the crowd ”
    What do you mean by Classes and books? Are you referring to any particular field of study?
    I don’t know maybe like MBA or something like that.
    I’d be grateful for any kind of guidance from you buddy!
    many thanks in advance for your time and patience.

  5. Great post! This is perfect for those of us determined to become millionaires and retire at a young age to live a a happy life; but lack a bit of direction. I’m definitely using this as a guideline. Thanks for sharing!

    1. Think and Grow Rich by Napoleon Hill, The Magic of Thinking Big by David Swartz, and Who moved my cheese by Jack Spencer

  6. Super cool Dale!

    I’m close to 1M in net worth now and I’m 28. My advice for anyone wanting to create wealth is this:

    – Invest in yourself and your education
    – Start your own business and grind until it’s profitable.
    – Make sure your business can deliver huge amount of value and transform people’s live for the better.
    – Reinvest 90% of everything you make back into your business until it can sustain itself
    – Move into a new venture and keep investing 90% and living with 10% of your income.

  7. i am nearly 18 and your clear cut steps are really inspiring and made my vision real clear to achieve

  8. Amazing article. I agree with every word, especially about dedication. Yes, you are missing on some things while you are focused on achieving your goals in twenties, but what are those things? Alcohol, headache in the morning,random people that don’t bring anything into your life, weird experiences that in few years you would prefer not to remember in few years? Not much of a loss for the amazing life ahead of you!

  9. Amazing article Dale. I am myself sliding towards 31 and a millionaire by your calculations. I agree and disagree with the statement that it is much easier to become a millionaire now then it was 10,20 or 30 years ago. Technology as a necessary evil has created as much opportunity for a 20 something as much the distractions. In the end it is the determination of the individual to cross that mark and will remain so for all the time to come.

  10. Great article! I’m 23 and realized many important things only recently. I don’t want the life my parents have, I don’t want to settle or do someone’s chores. I want to design my life and I’m willing to work my ass off for it! Thanks a lot for this article.

  11. ” Luckily, all of this can be learned. A few books, classes . . . ” Which books and which classes? A list would be helpful. Thanks.

  12. Awesome article. I really appreciate how you put the emphasis on goals and not denying yourself happiness. I’ve got a few articles on behappyadventure.com you might enjoy

  13. Even though people have said. It’s not something that we don’t already know.

    I wish I had seen this when I was 18 rather than 35!

    I have experiences rather than the money. Don’t know what is better?

    Thanks for posting.

Comments are closed.