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Old 07-23-2014, 03:52 PM
 
Location: California side of the Sierras
11,162 posts, read 7,675,574 times
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I suggest you take a look at this blog:

Mr. Money Mustache — Early Retirement through Badassity

It is all about achieving financial independence as early as possible. The blogger retired at age 30.
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Old 07-23-2014, 04:23 PM
 
7,934 posts, read 8,625,868 times
Reputation: 5890
Quote:
Originally Posted by cityboyforlife100 View Post
I honestly don't want to wait till I'm in my 40's or 50's. I've read a lot of articles about young guys in their 20's and 30's that come up with a good idea or do something entrepreneurial and become millionaires. I'm looking into something more in those means, not working in a corporate job for 20+ years. I want automated and residual income, serious money.

Well I have few connections at this point with big four and kinda secret info about getting in. But I would suppose my plan B would to work for a similar big company that has a lot of opportunities and high pay or even a corporation and work my way up. Maybe start a business or company but I need capital.
Honestly it's probably not going to happen at that age short of some extraordinary entrepreneurial or investment windfall. $20-30k a month for 4-5 years straight would get you there if you lived cheap(ish) and weren't blowing it on Ferrari payments. I imagine that would be difficult for anyone in their 20's to live like that.
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Old 07-23-2014, 04:28 PM
 
23 posts, read 41,862 times
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I have self discipline and would be willing to live frugal for 10-15 years to get to where I want to be.
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Old 07-23-2014, 04:29 PM
 
7,934 posts, read 8,625,868 times
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Quote:
Originally Posted by ncole1 View Post
Absolutely no dawdling. If you switch majors because you can't make up your mind, you lose. Choose a marketable major and stick with it. Do not take a year off to "explore", keep your connections and work your way up. Always work on the next step in your career and do not get sidetracked. Maintain connections and attend all career fairs. Do projects to demonstrate your abilities, and be able to impress employers. Research what they do and go in to your interview ready to talk about what they do and demonstrate that you have relevant abilities. I don't think becoming a millionaire at that young an age is remotely realistic, but by 45 or 50, sure. Just don't blow all your money and invest wisely.
Going to college and getting a day job is a rare recipe for making anyone a millionaire. Financially secure sure.
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Old 07-23-2014, 04:47 PM
 
23 posts, read 41,862 times
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Okay so what do you suggest? I though college and work would give me some capital to start off with
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Old 07-23-2014, 05:06 PM
 
7,934 posts, read 8,625,868 times
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Starting a successful company or brand is really the only way anyone in their 20's becomes a legitimate millionaire, outside of inheriting it. Maybe a handful a guys who went to top schools and make it big on Wall Street or in big law could get there before 30 if they lived a bohemian lifestyle and saved most of their money. Most of those guys don't do that either tho. (They go for the $4,000 apartment in Manhattan and do bottle service with boys every weekend and generally go out and live the high life.)
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Old 07-23-2014, 05:22 PM
 
Location: SoCal desert
8,091 posts, read 15,483,052 times
Reputation: 15038
Quote:
How can I become a MILLIONAIRE at a younger age?
Choose your parents wisely.




Listen all you people, come gather round
I gotta get me a game plan, gotta shake you to the ground
Just give me what I know is mine,
People do you hear me, just give me the sign,
It ain't much I'm asking, if you want the truth
Here's to the future for the dreams of youth,
I want it all, I want it all, I want it all, and I want it now,
I want it all, I want it all, I want it all, and I want it now!
Written by Brian May
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Old 07-23-2014, 05:31 PM
 
777 posts, read 1,879,726 times
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Make friends with this poster: https://www.city-data.com/forum/perso...l#post35751145
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Old 07-23-2014, 08:58 PM
 
10,231 posts, read 19,307,473 times
Reputation: 10906
I'm over 40 and I'd like to be a millionaire by 30. Any tips?
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Old 07-24-2014, 02:34 PM
 
23 posts, read 41,862 times
Reputation: 34
Yeah, I'm looking for serious ways though. I see hundreds of people on "Shark Tank" or people who sell products or have companies online and make loads of passive income. I'm thinking something that would take off. I am aware that it isn't easy, but I am willing to try.

And I don't agree with the comments about not getting married because it is almost inevitable to avoid falling in love. You cannot control that many times. Plus if your wife has the same money values and makes good income, it can help to increasing wealth.

Does anyone have anything else to say? I appreciate the MMM forum, it has a lot of good resources.
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