11 Ways to Be a Millionaire Before You're 30

11 Ways to Be a Millionaire Before You're 30


What if I told you that you could become a millionaire by the age of 30? Would you tell me that this goal would be possible or impossible?

I wouldn’t blame you for asking those questions. I personally have become a millionaire 2x before I became 30 years old. Now at 32 years old I like sharing a few of the tips I've learned along the way. It's not easy but totally achievable.

The truth is, becoming a millionaire by 30 years old is entirely possible. Here are a few lifestyle changes I had to make before I started.

1. Prioritize 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,” writes entrepreneur and author Dale Partridge. “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.” Partridge would write down his personal mission and vision statement and he placed this statement in his car and in his bathroom.

He then began reverse engineering to answer what it would take to achieve this vision, what behaviors he would have to adopt, how he would budget his money, and even what type of women he would date. Partridge left nothing 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. Follow the Money

Author and radio-host Grant Cardone writes in Entrepreneur that “In today’s economic environment you cannot save your way to millionaire status.” Cardone adds, “The first step is to focus on increasing your income in increments and repeating that. My income was $3,000 a month and nine years later it was $20,000 a month.”

His final words of advice are, “Start following the money and it will force you to control revenue and see opportunities.”

When I started I targeted a large industry, real estate. I created a saas company in the space and worked hard at it.

3. Implement the 50/20/30 Budget

There isn’t a one-size fits all budget model. We all have different incomes and expenses. However, budgeting your finances is arguably the most important component when attempting to reach millionaire status.

One budgeting method that you could implement is the 50/20/30 guideline. Laura Shin explains for LearnVest that this budgeting method and model is “easy to follow because instead of telling you how to break down your budget across 20 or more different categories, it splits everything into three main categories.” These categories include fixed costs, financial goals, and flexible spending.

Shin adds, “It can be a helpful benchmark when you’re assessing where your money is going, but it can also be adjusted to your specific lifestyle and goals.”

Learn to budget on an irregular income, because it will be very irregular.

4. Save Money to Invest

Here’s another tip from Cardone, “The only reason to save money is to invest it.” He suggests that you place your saved money into “into secured, sacred (untouchable) accounts.” Whatever you do, don’t tap into these accounts - even if it’s an emergency.

5. Live Below Your Means

Here’s a secret that the world’s wealthiest individuals share; they delay gratification and live well-below their means. This means that don’t waste money on luxury items, such as expensive vehicles and mansions. They purchase generic brand items and even use coupons.

By being frugal, you can save a countless amount of money that could be put towards paying down your debt or put towards your investments.

6. Invest in Yourself

“The safest investment I’ve ever made is in my future,” writes Tucker Hughes, Managing Director at Hughes Marino, in EntrepreneurHughes accomplished this by reading at least 30 minutes a day, listening to relevant podcasts, and turning to mentors for assistance. “Consume knowledge like air and put your pursuit of learning above all else.”

It turns out that Hughes is in great company. It’s been found that self-made millionaires, like Bill Gates and Warren Buffett, are voracious readers. Though many people would rather touch, feel and turn the pages of a wonderful book - I am one of these - there are numerous ways to consume information. Countless volumes can be listened to on the way to and from work and at other driving times. It has been said that a complete education can be gained by taking advantage of the many ways to listen to books while in a vehicle.

Besides expanding your knowledge, also don’t neglect your health. Having a healthy lifestyle, such as proper diet, exercise, and avoiding habits like smoking, can also increase your chances of becoming a millionaire. It has been said that if you sleep right, eat right, and exercise - you will have great health (barring unseen circumstances).

7. Side Hustle

Having multiple streams of income is one of the best ways to ensure that you can become a millionaire since it can help you pay off debt or be placed into your savings. Even if you have a full-time job, there are numerous ways that you can make money on the side by finding a part-time gig, starting a side-business, or selling all of that excessive junk in your garage.

8. Make Your Debt More Manageable

How can you become a millionaire if you’re bogged down by debt? That’s why you need to make your debt more manageable by looking into the following;

  • Use software like Mint to manage your accounts. It can automate payments so that you won’t forget any due dates as most people will have multiple due dates. This avoids those pesky late-fees.
  • Consider consolidating your debt by obtaining a home equity loan.
  • Open a new credit card with a 0% APR, or a low-balance, on balance transfers.
  • Ask for a lower rate.
  • Talk to your issuer about new terms.

9. Find Free Money

This may sound too good to be true, but there actually is free money out there waiting to be grabbed. For example, there are unclaimed tax refunds, forgotten savings bonds, and even checks from a former employer. You can also save money on payments by simply looking at the little details.

There can even be free money to be obtained from your current employer. Some companies offer assistance for student loans and will even match your 401K contributions.

10. Think Big

“The single biggest financial mistake I’ve made was not thinking big enough,” says Cardone. “I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.”

11. Don’t Give Up

Sometimes it’s easier to give-up and forget about investing, working a side-gig, and just enjoying life. But, becoming a millionaire is no easy task. Keep plugging away and working towards your goal - which is obviously to become a millionaire by 30. Now, if you are past thirty - do not despair. At any age or stage in life you can put these thoughts and goals into action with varying degrees of success.

It may be rough for a short amount of time, but you won’t be complaining when you’re enjoying an incredibly early-retirement.


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