How can I build a net worth of $1 million before turning 35?
The most important step to becoming a millionaire before 35 is simple:
Don’t trade your long-term goals for short-term comfort.
This means learning to delay gratification and making smart financial decisions early on.
Avoid debt like the plague.
Some people say there’s good debt and bad debt—I say debt is dangerous. It limits your freedom and steals your future. Fear it, avoid it.
As soon as you get a hold of these two habits, you'll realize becoming a millionaire isn't as difficult as you imagined.
The secret weapon? Compound growth.
That's cash your money generates in the future.
Here's an example from real life:
Let's introduce Philip and Jill.
Philip invested $200 every month when he was 21 years old and did it consistently for 9 years. He quit at 30 and never invested a single penny again.
Jill began investing at 30—the same time Philip ended. She also put in $200 a month, but continued until she was 68.
So who had more money at age 68?
Philip: Invested only $21,600 and finished with approximately $2.35 million.
Jill: Invested $91,200 over 38 years and finished with $1.3 million.
Although Jill invested a lot longer, she never made up the difference. Why?
Compound growth. Philip's head start put him miles ahead.
Ready to get started?
If you're serious about being a millionaire by 35, then follow these rules:
Never take on debt. It's just not worth the money anxiety or the blow to your budget.
Destroy the credit cards. They make it too easy and too quick to spend.
Live beneath your means. Frugal doesn't equal poor—it equals smart.
Take smart risks. Continue to learn. Diversify your investments. Rich people become richer by making educated moves.
Simply follow these steps:
Save $1,000 for a beginning emergency fund.
Pay off all debt (excluding your mortgage) with the debt snowball technique.
Save 3–6 months of expenses in a complete emergency fund.
Invest 15% of household income for retirement.
Begin a college savings plan for your children (if applicable).
Pay off your home early.
Accumulate wealth—and give back.
I am a blogger, serial entrepreneur, mentor, and life coach.
For additional advice and money tips, visit my bio or contact me directly.
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