become a millionaire by 30

10 things to do in your 20s to become a millionaire by 30

It is always been the question in adults – What are the things you need to do in your 20s to be a millionaire by 30?

Becoming a millionaire by age of 30 is no easy feat.

More than 75% of millionaires are self-made most coming from the USA (39%), China (9.4%), and Japan (6.6%)

While average people pass their time just thinking of it.

You are here to learn how to do it. 

Therefore we have prepared a go-to list of 11 things to do in your 20s to become a millionaire by 30. 

Let’s dive right in!

Build an Action Plan

One of the most important things you can do in your 20s is to build a financial plan to become a millionaire by age of 30. 

  • What are your goals?
  • What steps do you need to take to achieve them?
  • What resources do you need?
  • How much money will you need to save each month?

These are all important questions that will help you find your goals around which you will prepare your action plan. 

Becoming a millionaire should be your secondary goal as you need to figure out what suits you the best.

Creating a budget for yourself will be advantageous.

things to do in your 20s to become a millionaire by 30

You can follow a simple rule of budgeting known as the 50-30-20 rule which means that – 

  • 50% of your income goes towards necessities
  • 30% for discretionary items (Wants), and 
  • 20% is saved.

Change your mindset about money

If you’re like most people, your relationship with money is a bit of an uphill battle.

You probably have a lot of negative thoughts and feelings around it, which can make it hard to change the way that you think and feel about it.

There is a famous quote by Steve Maraboli “Once your mindset changes, everything on the outside will change along with it.”

If you want to be a millionaire, you need to start thinking like one!

Rich people have a different mindset about money – they see it as an opportunity, not a limitation.

They’re not afraid to invest their time and energy into making more money because they know that it will pay off in the long run.

Starting with books can be a feasible option for you. You can find the best books on google by searching –

🎯 [10 + Best books + “Your Interest”]

Start Investing 

The best thing you can start in your 20s is investing. It will not be uncommon to notice early investing among rich people. 

You can start by investing in the stock market, bonds, low-cost index funds, mutual funds, and after having a decent portfolio can also diversify into real estate. 

Stock markets have delivered a 12 to 15% annual rate of return in the past 3 decades.

If you invest ₹500 for 30 years

However, it’s important to remember that there is risk involved with stock market investments, so be sure to do your research before you put any money into it. 

If you’re looking to invest in real estate, it can be a great way to generate secure flows.

Having a retirement savings account will give you a sense of satisfaction that your retirement will safe even if you would not able to make that much money. 

You should also consider having a good proportion of your investing into retirement accounts to have a comfortable retirement.

A person with a low-risk appetite can go with the safest investment out there –

  • debt mutual funds,
  • bonds, and
  • National Pension Scheme. 

Focus on Learning

Whether it’s learning new skills, reading financial books, or attending workshops and seminars, there are several ways to increase your knowledge. 

88% of millionaires read daily to increase their knowledge while 85% read a minimum of two books a month.

Learning is the most important aspect in achieving millionaire status. 

You can start with reading books, online courses, podcasts, and reading blogs as well. 

Self-made millionaire Steve Siebold said, “The rich understand money flows from ideas, and since ideas are limitless, money is limitless”.

Throughout the process of achieving a seven-figure mark, you will encounter fake gurus and their get-rich-quick scheme

You also need to give emphasis on the tax structures of your country and identify key areas where you can save your tax. 

Live Below Your Means 

You may have heard of the concept of living below your means. It’s a good thing, but what does it mean?

Living below your means is not about saving money or cutting back on expenses. Rather, it refers to making sure you spend less than you earn.

Living below your means spending less than you make. If you’re earning $10,000 per month, then you should only spend $8,000 per month.

This doesn’t mean you shouldn’t enjoy yourself. But you should live within your means.

But If you want to become a millionaire in a few years you need to spend as little as you can and invest in assets that will generate cash flow. 

By limiting unnecessary expenses such as eating out, going to the movies, and buying new clothes all the time, you can free up more money each month to save or invest.

94% of self-made millionaires spend less than what they earn. One penny you save today may have worth of creating 1 dollar in the future.

Focus on Earning 

If you want to become a millionaire by 30, you need to do is start earning more money.

Whether it’s through promotions at work, starting your own business, or finding other sources of income, increasing your earnings will help you get closer to your goal.

You cannot become a millionaire by saving $10 on your daily expenses or $100 on other things. You need to learn high-income skills that can pay off your expense and left with enough to invest. 

You can learn high-income skills to increase the level of income. You need to make more money to save much to invest to achieve the million-dollar mark. 

Develop Multiple Income streams

You can’t rely on one source of income, you need a variety of sources to be financially independent.

On average wealthy people have an average of 7 streams of income in their portfolio.

The emergence of the digital world has changed the way to develop flows of income.

It will be difficult to grow a local store compared to growing an E-commerce store

You can start with the following ways-

  • Blogging
  • Affiliate Marketing
  • Social Media Influencer
  • E-commerce store
  • Freelancer

These methods may take some time to establish at initial points but help you to develop a passive income stream.

Furthermore, here are some traditional ways to earn more by having an additional income high paying job. 

Even I also started freelancing on Fiverr and make a few gigs about Content Writing and also received good responses and earned almost $300 in the last 90 days

You may think it is not how much you expected and yes it was not so much but a good start for me in freelancing.

You may also try out similar options to earn more. 

Avoid Debt to become a millionaire

Debt is one of the biggest hindrances to achieving financial freedom. 

It is very difficult for anyone to get rid of debt completely and it can be quite frustrating when you are trying hard to do so.

Most of us have student loans in our 20s and getting rid of them is quite difficult.

Successful people make a plan which they need to follow. 

You can start a part-time job while studying to get rid of the shortage of money and start paying out your debts consistently. 

Many people have the misconception that all types of debt are bad debt.

But if you think a little bit deeper you will get to know having a good credit score can save you thousands of dollars.

A good Credit score can only come from owning a credit card and paying out debt within the stipulated time.

Make Sacrifices

You may have listened to that famous dialogue of Bollywood – “Kuch paane ke liye kuch khona padta hai” (You need to make a sacrifice to achieve something). 

Making sacrifices in your comfort zone is the only road to wealth unless you won a lottery. 

This may mean working long hours, foregoing some of your favorite activities, or cutting back on your spending.

You should also prioritize the tasks that will help you achieve this goal faster.

What are some ways that I could earn more money?

What habits need to change in your daily routine if you are going to save enough for retirement or start investing early on?

Make sure not only make sacrifices but also think about where you offer compromises with no regrets!

Surround yourself with like-minded people

If becoming a millionaire is one of your goals, it’s important to surround yourself with like-minded individuals.

The best piece of advice my financial advisor gives me is to spend most of my time with people having likewise mindsets to secure your financial future. 

You can join online forums or communities to get started. 

By surrounding yourself with like-minded individuals, you’ll have plenty of motivation to keep working towards your financial goals!

Founder of “MBA Chaiwala”Praful Billore mentioned in one of his interviews suggesting to spend time with people who are 5 years older than you.

They will advise what to do or what not do, what mistakes they made, what things you should know before that period.


As I mentioned earlier becoming a millionaire is not an easy feat that most people think of. You need to work hard consistently even when you are not getting results. 

Following these things in your 20s will increase your chances to become a millionaire by 30. They do not guarantee you to make a million dollars. 

There is a great quote by Jim Rohn “Become a millionaire not for the million dollars, but for what it will make of you to achieve it.” 

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