How to Get Rich in Your 20s and 30s

pile of cash

There’s no shortcut to getting rich—unless you are one of the lucky few who could win the lottery despite the very slim chances. Plus, the get-rich-quick scheme only makes those who offer it even richer. If you really want to be wealthy, you have to equip yourself and prepare for the journey since there are different routes you can take to get there as early as in your 20s and 30s.

Introspect and have an objective assessment of yourself.

Know where you are at today and what you want to become. There might be a lot of self-defeating thoughts and habits that you have acquired and practiced over the years. Identify them and get rid of them. Our brains have neuroplasticity, so we can also train them to learn new things and form new habits. Replace complaints with gratitude, bad habits with good, social media with self-help or financial books or audiobooks.

Invest in yourself.

Warren Buffet said that the best investment you can make is in yourself. This will be a timeless truth since it all boils down to how much time and effort you put into bettering yourself. Before you can gain money, you need to dedicate time to building knowledge and expertise. Enroll yourself in courses that will give you a broader perspective and gain new skills. Also, remember that you can replace a car but not your body. Preserve and enhance it.

Build financial literacy.

As the bestselling author of Rich Dad, Poor Dad Robert Kiyosaki said, money is taught at home, not in school. This is why people usually maintain the economic status they were born into. Thus, build financial literacy. These days, ignorance can no longer be an excuse, especially for those who aren’t underprivileged, since information is now just at the tips of our hands. Before investing in actual assets, these are the things that you can do:

  • Pay your debts and never acquire bad debts anymore. – Debts are acceptable if they will generate profits in return but avoid it at all costs if possible.
  • Create a budget and stick with it. – This makes it easier to disregard the flashy red sale sign once you encounter it.
  • Cut back on unnecessary expenses. – This includes items on sale you don’t need, Starbucks you buy daily, and subscriptions that only take your valuable time and money.
  • Build an emergency fund. – Save for the rainy days that can cover your cost of living from 3 to 6 months.

receiving money

Associate with the right people.

If you want to improve at something, you have to practice with someone better at it. Surrounding yourself with the right people is crucial to propel you and keep you in the right direction. If you want to be financially literate or learn a new skill, hang out with people who already are or have what you desire. Find a willing mentor and choose an environment where you can grow. If you ever feel stuck in a negative environment, fix your mindset and read books or listen to podcasts.

Authors or speakers can be your mentors, too, since these are people who have gathered a lot of expertise and met other experts in your chosen field. They can shorten the time of learning that would take you years had you decide to work on your own.

Leverage your knowledge and skills to save faster. Then invest and diversify.

The tricky part of investing is gaining capital. Hence, if you can create websites, write articles, market a product, create graphics, do bookkeeping, and other things you can offer that can be your source of income aside from your day job, leverage them. Leverage the skills you have to make the time frame for saving shorter.

Invest and diversify

Once you have saved enough, do your research, take calculated risks, invest, and diversify.

  • Stocks: One of the popular ways to grow your money is to put it in stores and strategize when to buy or sell and hold.
  • Cryptocurrency: Another which has gained popularity nowadays is cryptocurrency since it is decentralized and can turn an investor into a million in just a few years or even months.
  • Real estate: This is a common investment but instead of shelling out money right from your pockets, find a good mortgage company and a property you can renovate, remortgage it and rent it out; you’ll earn so much more.

There are various things left untaught that we have to learn on our own. It all starts with introspection. Next is investing in yourself, building financial literacy, associating with the right people, leveraging what you have. Finally, invest and diversify. Have a rich mindset and habits, put in the work while young, and wait for the harvest.


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