# data[].attributes.attachment_link.title
Absurdism | How to Party at the End of Meaning ☄️

# data[].attributes.body
God I hope the Broncos win some games

# data[].attributes.attachment_link.readable_text
Want to learn how to become a millionaire by 30? Here's my story on how I reached a million dollar net worth in my late-20s. It involved a lot of luck, a lot of effort, and a lot of risk.

I believe all Financial Samurai readers will eventually become millionaires due to disciplined saving and savvy investing over time. If you keep reading and listening about personal finance, it's hard not to keep moving in the right financial direction over time.

Now that I'm in my mid-40s, in retrospect, I should have taken even more risk. Taking more calculated risk is a key theme if you want to become a millionaire at a relatively young age.

The second key theme to become a millionaire by age 30 is to own appreciating assets that work hard for you. Eventually, you will tire of the grind. When that time comes, you will hopefully have at least one million dollars in assets generating passive income.

Finally, if you really want to be a millionaire, you need to come up with a plan and follow it. When it comes to your finances, you can't just wing it. You must be intentional!

How To Become A Millionaire By Age 30: Financial Upbringing

Growing up in a middle class household made me strong. My parents always drove beaters and frowned upon ordering anything other than water when we went out to eat.

I knew my parents were not rich because their incomes were in the public domain as foreign service officers. As a result, I made a conscious choice in high school not to attend one of the two private colleges that had accepted me. Instead, I went to William & Mary, which cost $2,890 - $3,200 a year in tuition from 1995-1999. I needed to save money.

We were by no means poor. We just pulled up to parties in a paint-less 1976 Nissan Datsun alongside Audis, Mercedes, and BMWs for the four years we lived in Kuala Lumpur, Malaysia between 1986-1990. It was very mortifying as a kid.

I knew nothing of expensive shoes because I had none. My wealthier friend gave me his old Air Jordans 4s that were two sizes too large. I couldn't even afford a camera or a Nintendo game system. We led comfortable lives, but didn't have more than we needed.

I was always curious about my wealthier friends. Many of their parents were business owners. So one day I told my father I too wanted to be a businessman.

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

Millionaire By 30 Money Mindset

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

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

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

If you work for 40 years and save and invest just 20% of your after-tax paycheck a year, there is no doubt in my mind you will amass at least one million dollars. Compounding is a powerful force.

Maxing out your 401K for 30+ years will also most likely lead to over $1 million dollars as well. Historical stock and bond market returns plus company match are on your side.

We've got financial planners, personal finance blogs, television, best selling books, and even free financial tools to help you build and track your wealth.

So many resources make building wealth much easier now than in the past. Let's look at three reasons why becoming a millionaire by 30 is easier than ever before.

Three Reasons Why The First Million Could Be The Easiest

1) Tremendous energy.

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

Unfortunately, so many of us piss away our youth. We buy new cars without following my 1/10th rule for car buying. Some of us get into expensive credit card debt. And a lot of us don't to our elders and think the world owes us something. Forget it folks.

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

2) Fewer or no dependents.

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

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

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

3) Nothing to lose.

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

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

How To Become A Millionaire By 30

I had no idea I became a millionaire at age 28 until two years later when I did my first detailed net worth spreadsheet in 2007. It's easier to achieve something when we don't even realize what we're doing.

I was too busy saving, investing, working, and trying not to blow my money on things that I didn't need. I was one of those "Super Motivated Boyfriends" (SMBs) who were impossible to lock down.

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

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

A painful two years of working 70+ hour weeks right out of college with difficult bosses also got me into overdrive to figure out a way not to work forever!

There was no fanfare when I discovered the seven figure milestone had been achieved. Just the realization that time passes more quickly as we age. I had to make the most of my opportunities since nothing lasts forever.

Keep Aggressively Saving And Investing

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

If you've been reading my posts from how to save for retirement and how to properly invest for your future, there's no magic behind wealth accumulation.

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

After leaving the work force for good at the age of 34 in 2012, I decided to keep on playing by building Financial Samurai into the best possible personal finance blog I could. When people tell me I'm lucky, I agree! As a result, I've tried to re-create my luck by writing 3-4X a week every year since 2009.

After 14+ years of writing on Financial Samurai, I believe one important secret to wealth and success is grit. If you can demonstrate unwavering commitment with one thing for at least 10 years, I strongly believe you will succeed. Too many people quit way too soon or right before the going gets good. Stay committed!

If I started this site in my early 20s, I would have become a millionaire by 30. If you are young, please take advantage of your youth.

The Road To One Million Dollars By Age 30

To the best of my memory here's how I was able to amass a million dollars by age 28. Today, my net worth is much larger thanks to continual investing, asset diversification, and building multiple passive income streams.

Age 22. Year 1999. Place Your Neck On The Chopping Block.

When I graduated from The College of William & Mary, the total amount of cash I had was roughly $4,000. I had saved some money from summer jobs temping and flipping burgers at McDonald's for $4 an hour. I had just started a dream job in New York City at Goldman Sachs. It was go time!

My base salary was $40,000, which at the time didn't feel too great. I lived in a studio with my buddy from high school for two years because we couldn't afford something nicer.

See: Achieving Financial Independence On A Modest Income

As a result, I invested $3,000 in a dotcom stock called Vertical Integration Systems (VCSY). It turned into $200,000 within several months. Yes it was incredibly lucky, but it also took some analysis and guts. I just wish I had more money to invest!

The stock pulled back by around 25%, at which time I sold everything for around $155,000 and stayed out of the bubbliscious stock market for the next year and a half due to a job change in 2001. VCSY ended up being worthless a couple years later. $155,000 equals about $120,000 in after tax proceeds. The trade is detailed in the post, Don't Stop Fortune Hunting.

Net worth: ~$160,000.

Age 24. Year 2001. Taking An Employment Chance.

After two years in NYC, I was recruited to join another firm in San Francisco. I only knew a couple people in San Francisco, but felt the promotion to Associate without having to go to business school and 100%+ guaranteed raise to an $80,000 base salary + bonus was attractive enough to take a chance.

I was coming from a top firm and had established some solid client relationships over the past two years. The economy was still dicey due to the dotcom implosion and there was a big chance I would not make Associate after my third year at GS.

It turns out my firm in NYC did indeed let go of many colleagues, and only about 25% of the people I knew from my entering class were still there two years after I left. It was a little scary moving all the way cross country, but it wasn't like I was moving to the middle of nowhere. This was San Francisco, one of the most beautiful cities in the world. Besides,

San Francisco is six hours closer to Hawaii, one of my favorite places on Earth, so I figured what the hell. I saved 100% of each bonus, maxed out my 401(k), and saved a little more for my after-tax brokerage account.

Net worth: ~$260,000.

Age 25. Year 2002. Continued To Live Like A Student.

The first two years in NYC, I lived in a studio with another guy. We put up one of those Chinese Paper Walls to add more privacy. I didn't care. I was living in New York City, the most alive city in America. I'd rather spend money going out and partying rather than on an extra bedroom.

When I moved to San Francisco, I spent even less on housing since NYC is about 30% more expensive. I found a two bedroom, one bathroom apartment at the edge of downtown for only $850 a person. I finally had my own room, yeah baby!

When you now make double what you were making a year ago, yet pay 25% less in rent, saving becomes very easy. I increased my after tax, after 401K maximum contribution savings rate from 50% to 65%.

Here's a post I wrote later called, Home Expense Guideline For Financial Independence. It highlights how I lived in NYC and SF to maximize disposable income. The post also gives recommendations on how much money you should spend on rent/buying in your journey as well.

Net worth: ~$400,000.

Age 26. Year 2003. Conservative Investments Before & During The Recession.

60% of every paycheck and 100% of every year end bonus after 401(k) contributions went into long-term CDs that yielded 5-6% at the time. The reason why I invested in CDs was due to a job change and not having time to manage my portfolio in 2001, 2002, and 2003.

Furthermore, I was scared of another market implosion that would not only take down my investments, but also my bonus, and potentially my job.

My 401(k) was already 100% exposed to the stock market already. Today, my net worth is highlight diversified across real estate crowdfunding, real estate, bonds, stocks, private equity, and business equity.

A day after my 26th birthday, I decided that it was time to grow up and buy my own place. I was renting a $1,600/month one bedroom apartment in San Francisco and wanted a nicer apartment.

At the same time, I didn't want to spend more than $2,000 a month on rent because the return on rent is always zero. I became very disillusioned with having a large chunk of money in the bank and started wondering what is the point of working more since I had more than I could ever have imagined.

At age 26, I was already thinking of "retiring" in Hawaii. Given my waning motivation to work as hard anymore, I decided to buy a two bedroom, two bathroom condo in a nice area of SF and live it up a little!

The combination of 5-6% compounded returns in savings over four years, a growing 401(k), growing after tax investment account, and another year of saving a larger bonus really helped.

You don't have to be a great investor to become a millionaire. You just have to be a good-enough investor with the proper discipline and risk exposure.

Net worth: ~$550,000.

Age 26-27. Year 2004. Renewed Motivation To Work.

After putting down a 25% downpayment (~$140,000) for a $580,500 condo, my motivation to work skyrocketed because of a drained cash account. I prayed the housing market wouldn't implode like the stock market did years earlier.

A year before my condo purchase I did a silly thing and bought a $78,000 Mercedes G Wagon (G500). The truck was sweet and I thought it was a great deal since it was selling for $150,000+ the year before since this small dealership in Sante Fe, New Mexico curiously owned the US import rights.

I drove the truck for a year and had to sell it for a $20,000 loss because it wouldn't fit in my condo garage due to the height! What an idiot, but I felt buying the condo was the responsible thing to do. I traded way down to a seven year hold Honda Civic worth $8,000 instead. I was growing up but still had the thirst for nice cars.

Having A Mortgage Was A Big Motivator

The $435,000 mortgage put a fire under my ass to work harder and be the best performer I could be. At the age of 27 I was promoted to "Vice President," a title that is normally bestowed on business school graduates three to four years out of school at the age of 32-33.

From there, my income took another large jump up to $120,000 + a larger potential bonus. I became one of the youngest VP promotes in my office.

Debt provided an unexpected side benefit for my career. From 2003 to 2005 my condo also appreciated to around $815,000, a 40% jump. Unfortunately, this increase was unsustainable as we all know. In fact, one of the biggest downsides to paying off your mortgage is the loss of motivation.

I felt this way in 2015 once this condo's mortgage was paid off. However, once my son was born in 2017, the motivation to make money increased again.

Net worth: ~$800,000.

Age 28. Year 2005. A New Landlord And Millionaire By 30

At 28, I decided to finally buy a single family house in San Francisco for $1,520,000. Believe it or not, $720/sqft for a house on the north end of San Francisco was pretty good because many homes were selling for $900/sqft at the time.

I was sick of having neighbors above and below me. I wanted a yard, a deck, reprieve from the HOA meetings, and to be king of my own castle. The bad thing about my house was that it was on a busy street next to the busiest street in the entire city.

After I moved into my single family house, I turned my condo into a rental, but finally sold it in 2017 for 30X annual gross rent because I no longer had time to be a landlord after my boy was born.

My rental property equity was around ~$350,000 plus around $750,000 worth of CDs and stock investments for a total net worth of around $1.1 million. I knew I was doing OK, but I had no idea I was worth over $1 million at the time. I was too busy building a business at work, managing a rental, remodeling a new home, and figuring out how to keep things going.

Note On 401k Investments:
I put away the max 401K pre-tax contribution since my first full year of employment. At the time, the maximum contribution amount was $10,000 a year. The maximum amount is now $22,500 a year for 2023 and will likely go up by $500 every 2-3 years. If I take six years times the average $15,000 = $90,000. The average company match was around $15,000 a year since we had match + profit sharing, so add on another $80,000 = $170,000 in my 401K by the age of 28. But actually, I had over $200,000 given it did return more than 5% on average for six years. One of my 401K options was a hedge fund, where I put a 60% of my allocation during the downturn between 2000-2002. The fund actually did well given they had a net short position, so my overall 401(k) was able to take the hits. In fact, if you max out your 401(k) consistently, you will likely become a 401(k) millionaire after 20 years of contributions.

More Thoughts On How To Become A Millionaire By 30

I strongly believe most people reading this article can accumulate a million dollars if they have the motivation, a good amount of planning, the right amount of guidance, and some luck.

I'm sure some of you will have your own doubts, while others will scoff at how little $1 million is. But here are my suggestions for those who want to become a millionaire by 30 or at a relatively young age.

1) Don't mess around in high school and college or else you will have a hard time landing a good job that pays well.

Give yourself optionality please. There are thousands of straight-A, top 25 university graduates every single year. I was one of the thousands, and it's hard to compete if you are not one of them because employers can't respond or meet with everyone. Grades matter.

Many firms such as Goldman, Mckinsey, Bain etc have GPA cutoffs of 3.5 out of 4.0, with some at 3.7. If you don't have connections then you just aren't going to make the cut when there are thousands of applicants for only 60 spots. You can rage against the machine and believe grades don't matter, but you are going to be wrong like donkey kong and most likely regret your immaturity.

Getting a job on Wall Street was like winning the lottery for a kid coming out of a non-target public school. I went through seven rounds and 55 interviews over a course of six months before getting the offer. I would not have been able to even get an interview if I didn't get good grades or show initiative.

Your job income is the #1 main source of wealth for most people. Might as well focus on the highest paying industries that you think you'll enjoy if money is what you want to make. It's important to note that no way is a large income a guarantee for lasting wealth as many millionaire bankruptcies have proven.

2) Save until it hurts each month.

Remember this Financial Samurai saying forever. If the amount of money you're saving each month does't hurt, you're not saving enough.

When you're a college student, you're poor. Hence, even if you graduate and only make $30,000 a year, I'm willing to bet that's more than you've ever made in your life! Try to continue living like a student for years after you've found your first full-time job and save!

Stop making excuses why you need to buy a nice car and nice clothes. You're a 22 year old recent college graduate for crying out loud. Build your foundation in your 20s and stop thinking you have a decade to explore, because you don't. 10 years maxing out your 401(k) will likely result in a $200,000 portfolio in your early 30s.

The base you build in your 20s will provide tremendous returns for later on in life. If you stay consistent over the years, you will get there. Aim to save at least 20% of your after tax income every year, no matter what. Becoming a millionaire comes from good personal finance habits that compound over time.

3) Work hard and know your place.

If you want to be a millionaire by age 30, you must work hard. Working hard takes NO skill. If you're not coming in first and leaving last, you aren't putting in your time. Be irreplaceable. Be remarkable.

I promise you if you wake up by 5am every morning, work one to two hours before the rest of your peers and work another one hour after your peers have left, you will get ahead! Avoid career limiting moves that will severely curtail your future.

The reason why I was promoted to Vice President at 27, when the average VP promote is 33 is because I put in extra dues. I generated millions of dollars in revenue, built a solid network of internal supporters, and was a workhorse by coming in by 5:30am everyday for my first two years and leaving at 7:30 pm-8 pm on average.

Sometimes I even left work at 10 pm. Did I sacrifice some of my social life? Of course I did. But, I also partied hard many weekends! Working hard doesn't mean you can't also play hard and travel. You're young remember? Your energy is limitless!

4) Stop making excuses.

You can spend time crying why the world isn't fair, or you can do something about your life. If you are reading this post, chances are you have clean water to drink, shelter, internet and a legal system that protects your rights.

There are millions of people in the world who are starving every single day. An equal amount who live in fear of dictators confiscating everything they own. Some immigrate to America for a better life, don't even speak the language and crush it. What is your excuse? Abolish welfare mentality.

Spend 30 minutes every day by yourself in meditation coming up with a better business model for your company or for own business. Spend four hours every weekend in the office studying up on new things that will help improve your standings with your clients.

You can even start a blog and work an extra 30 hours a week online before you have a family and generate some healthy revenue if you wish. Let's take advantage of the freedom our respective countries provide.

5) Consider both aggressive and conservative investment strategies.

When I was 22, I only had about $4,000 to my name. Regardless, I invested 80% of my money and it turned into a 50 bagger. Was I lucky? Hell yes! But, I did my research and was I willing to put my balls on the line to try and make some money.

I think it is very important to take more risks when you are young which is why I'm biased towards growth stocks over dividend stocks. With the proceeds from my VCSY China internet trade, I transferred my wins into long-term CDs and then ultimately into property.

When you are ahead, it's very hard to walk away. As a poker player I know this feeling all too well. But it's tantamount to invest a portion of your winnings in a safe haven. Lock it up. Protect yourself from yourself!

I didn't take on the reckless mentality of betting the farm with my windfall since I was now playing with the "house's money." This was my money now dammit, and I wasn't about to piss it away on some B2B stocks. Continuously diversify your income streams and build passive income.

Today, I like the combination of growth stocks and less volatile real estate investments. You must take the appropriate amount of risk exposure. Otherwise, you could end up losing a lot of money, which ultimately means lost time.

6) Property is one of your best friends over the long term.

If you put 20% down on a property and it goes up 3% a year, that's a 15% return on your cash thanks to leverage. Sure, you can get your face ripped off if you bite off more than you can chew. But trust me when I tell you that thanks to inflation, your debt payments will seem insignificant five years afterward.

Five years later, you will be happy every month when you get to charge a rent that is much higher than the interest portion of your mortgage. Property is my favorite asset class for young people to build wealth.

I sometimes feel guilty raising the rent, but remind myself, I was the one who took the risk, put down the downpayment, and nobody forces anybody to rent my place. Real estate is my favorite investment asset class to build wealth.

The condo I bought on my 26th birthday for $580,000 was fully paid off in 2015 at the age of 38. A neighboring unit with the same layout sold in 2017 for $1.36 million. Today it's worth even more.

I'm now investing in real estate crowdfunding to take advantage of lower valuation properties with higher cap rates in the heartland of America. I want to invest in the next San Francisco Bay Area over the next 20 years, and lower cost of area cities like Memphis, Austin, and Salt Lake City look attractive to me.

My two favorite real estate marketplaces are Fundrise for their eREITs and CrowdStreet for their individual commercial real estate investments in 18-hour cities. If you are a real estate enthusiast with more time, you can build your own diversified real estate portfolio with CrowdStreet. However, before investing in each deal, make sure to do extensive due diligence on each sponsor. Understanding each sponsor's track record and experience is vital.Both platforms are free to sign up and explore.

Fundrise offers a simple way for all investors to diversify into real estate through private funds with just $10. Fundrise has been around since 2012 and manages over $3.3 billion for 400,000+ investors.

The real estate platform invests primarily in residential and industrial properties in the Sunbelt, where valuations are cheaper and yields are higher. The spreading out of America is a long-term demographic trend. For most people, investing in a diversified fund is the way to go.

I've invested $810,000 in real estate crowdfunding so far. My goal is to diversify my expensive SF real estate holdings and earn more 100% passive income. I plan to continue dollar-cost investing into private real estate for the next decade.

After explosive stock market gains during a pandemic, money is likely going to flow into real estate. Mortgage rates are at all-time lows, corporate earnings are rebounding, and all of us are spending more time at home. As a result, the intrinsic value of real estate is going way up.

The value of rental income has gone way up as well. The reason being is that it takes a lot more capital to produce the same amount of risk-adjusted income. Real estate and technology sectors tend to do best in a rising interest rate environment.

7) Pretend you are poorer than you are and show few signs of wealth.

Stay humble despite amassing a fortune. Don't show off or waste money on things you don't need. Make people believe you are younger and poorer than you really are. I drive a 13 year old car and wear t-shirts, jeans, and a baseball cap most of the time. Once you've accumulated your war chest, practice Stealth Wealth.

I would say at least 80% of the millionaires I know are very low key. You can't tell they have a lot of money except for when you get to their house. The only people who want attention are those who are insecure, not not really rich.

8) There are more ways than one to rub a furry koala.

You can make big bucks through a day job or by starting your own online business. Better yet, you can do both. While I was working in finance, I launched Financial Samurai. I worked on it before I went to work and after I came home.

Since starting this site in 2009, Financial Samurai now generates enough revenue to provide comfortably for a family of four in San Francisco. In fact, FS started generated enough for us to live well starting at around 2013. You just never know until you start something new.

To become a millionaire by 30, you must work on your X-Factor. Your X-Factor is what will bring you more wealth, happiness and joy. But the key is to work on your X factor long before you need it!

When you build a business, you build wealth by not only earning income from your business, but by creating equity value in your business. The value of your business is based off a multiple of revenue, operating profit, or net profit.

9) Office politics counts.

In order to get ahead, you've got to play the game by building as many company allies as possible. I don't know many people who like to sell themselves internally to their colleagues and bosses. People think that all it takes is good work to get recognized, paid, and promoted. This is absolutely false!

You must sell yourself internally as much as you sell yourself externally. I believe you need to sell yourself 50% internally and 50% externally.

Don't think just because you're bringing in business that you will automatically get paid and promoted. You must build a support network of powerful people at your firm. Once you have someone with significant power on your side, your entire career gets that much easier.

10) Regularly invest in yourself.

If you want to be a millionaire by 30, then invest in yourself. Your greatest money making asset is you. Don't cheap out on education or consulting. Education is worth more than any material thing you can buy. My studies in college and grad school taught me how to market, negotiate, communicate, analyze investments, and influence.

Thankfully, you can now learn most everything for free thanks to the internet. It's hard to recognize value when you can't touch it. However, I promise you that knowledge and education is worth more than everything else.

The more you learn the more you can earn! Read my instant Wall Street Journal bestseller, Buy This, Not That to gain deep wisdom and take action. If you haven't already, join 60,000+ others and sign up for my free weekly newsletter. Subscribe to my podcast and my posts via e-mail.

11) Diligently keep track of your progress.

How much you keep is even more important than how much you make. There are people who make millions of dollars and end up broke years later. The simple reason is because they had no idea where their money went. Perhaps they made some ill-timed investments.

Maybe their risk exposure didn't align well with their risk tolerance. Or maybe they simply just spend too much. Everybody should leverage Empower, the best free financial tool online. With Empower, you can track your cash flow, analyze their investment portfolios, and calculate their financial needs in retirement.

12) Regularly turn funny money into real assets.

We will regularly go through boom bust cycles. The key is to consistently turn that funny money you made in the stock market into something real. Do not stay all-in all the time when you have a nice windfall.

So many people have ended up losing all their money in the 2000 crash. Then came the 2008-2009 crash. Most recently was the March 2020 crash. Boost your wealth by using your windfall gains to buy a more stable asset like real estate or fine art. If you do, your chances of becoming a millionaire by 30 will increase.

With stocks near all-time highs again, I'm taking about 10% of my winnings and spending it on a better life. I'm also investing more in private real estate online that's 100% passive. As I get older, I really don't like dealing with rental property maintenance issues and tenants any more.

13) Consistently recognize your luck

To become millionaire by 30 requires a ton of luck. If you start believing all great wealth is mostly due to hard work and skill, you decrease your chances of becoming a millionaire. The reason is because you may start taking your opportunities for granted. You also start getting arrogant.

Not everybody has equal opportunity. For example, people's chances of becoming a millionaire are different by race. Stay humble and hungry.

14) Invest for the long run

Your first million really isn't the easiest now that I'm much older. Once you accumulate several million dollars, you will find it much easier to make another million dollars in net worth.

Therefore, your key is to grow your capital to a sizable amount and make continued risk-appropriate investments. For example, if you have five million dollars in invested capital in the S&P 500, and it goes up 20%, you've just made one million dollars without doing much work.

Let long-term investing be your friend. The longer you are invested, the more you let compound returns build.

15) Keep on reading and learning about money

Millionaires are voracious readers. We're always learning in order to continuously grow our finances in a risk-appropriate manner. There is always opportunity!

If you want to dramatically improve your chances of being a millionaire, read my instant Wall Street Journal bestseller, Buy This, Not That: How To Spend Your Way To Wealth And Freedom. The book is jam packed with unique strategies to help you build your fortune while living your best life.

After spending 30 years working in finance, writing about finance, and studying finance, I'm certain you will love Buy This, Not That. Remember, the more you learn the more you can earn.

Most of the population doesn't read books as they're too busy scrolling their phones and mindlessly watching TV. Use that time to get educated instead.

Align Your Beliefs With Reality If You Want To Be A Millionaire

One cannot downplay the importance of luck in becoming a millionaire by 30. I have been fortunate to have two loving parents, an incredible spouse, and a brain that works most of the time.

If you're born in America, please take full advantage of all your opportunities. Despite having a deficiency in higher level math, uninspiring SAT scores, and a run in with the law as a teenager, I made up for my weaknesses with plain old work ethic and relationship building. It also helps to be an undying optimist as well.

You can't complain about not having wealth if you decide not to pursue wealth. That's a mental misalignment. The desire for wealth shouldn't be viewed as evil. It should be viewed as natural for anybody who wants to live a better life. Who doesn't want to b a millionaire to take care of his or her family and parents? Further, by being a millionaire, it's easier to give back to the community.

As soon as we align our realities with our beliefs, we become congruent and happier with ourselves and our outlook.

Good luck on your journey to your first million! Becoming a millionaire by 30 is a great accomplishment. Once you get there, your next goal should be to try and invest $1 million. That's when the real fun and big financial upside begins.

Become A Millionaire Through Real Estate

Real estate is my favorite way for the average person to become a millionaire. Using other people people's money (a mortgage), you can buy a real estate that tends to appreciate in value over time. Meanwhile, inflation whittles down the cost of debt. This one-two combination helps create a significant amount of wealth over time. Let inflation be your friend, not your enemy!

Roughly 40% of my net worth is in real estate. Further, real estate accounts for roughly half of my estimated $380,000 a year in annual investment income. One irony of real estate is that because it is less risky than stocks, investors can actually end up making much more from real estate.

I think the best strategy is to ow your primary residence to at least get neutral real estate. Then diversify by buying rental properties in your city, public REITs, and commercial real estate.

Take a look at my two favorite real estate crowdfunding platforms:

Fundrise: A way for all investors to diversify into real estate through private funds. Fundrise has been around since 2012 and has over $3.3 billion in assets under management and 400,000+ investors. The platform has multiple diversified funds that primarily focuses on residential real estate in the Sunbelt, where valuations are lower and yields are higher. For the average investor, investing in a diversified fund is the way to go.

CrowdStreet: A way for accredited investors to invest in individual real estate opportunities mostly in 18-hour cities. 18-hour cities are secondary cities with lower valuations, higher rental yields, and potentially higher growth due to job growth and demographic trends. If you have a lot more capital, you can build your own commercial real estate portfolio.

Both platforms are fee to sign up and explore. I've personally invested $810,000 in 18 real estate crowdfunding projects since the end of 2016. My goal is to diversify, take advantage of real estate arbitrage, and earn income 100% passively as a busy father of two young children.

You can also sign up for my free weekly newsletter here. 65,000+ readers have since 2009 to help them build more wealth and live a better life. You can also subscribe to my podcast on or . A new episode comes out each week.
How To Become A Millionaire By 30 is a Financial Samurai original post. The reality is, once you become get your first million, it's much easier to make millions more. You just have to stay disciplined and keep on investing for the long run.

# data[].attributes.attachment_link.title
The First Million Might Be The Easiest: How To Become A Millionaire By Age 30

# data[].attributes.attachment_link.description
Want to learn how to become a millionaire by 30? Here's my story on how I reached a million dollar net worth in my late-20s. It involved a lot of luck, a lot of effort, and a lot of risk.