Millionaire Habits You Need to Start In Your 20s

Ready to be a millionaire? Here are the millionaire habits you need to start in your 20s in order to build wealth!
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Watch the full episode here: • Millionaire Habits By Age
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[@tiaancitadel1917]

Having a multi-million $ net worth by age 55 is my back up plan - my real goal is to see if I can reach that before age 40.

[@MoneyGuyShow]

You can do it Tiaan!

[@chrisblack5359]

My real goal is to reach 55 haha. Good luck

[@duramajin3118]

29 and we hit a 60 percent savings rate for the last financial year. Should be mortgage free in the next few weeks. Our friends think we're crazy but honestly we haven't missed out on much and we've set our selves up for the future.

[@MoneyGuyShow]

Congrats Duramajin! You’re doing a great job. You’ll be on the fast track to becoming a millionaire if you’re not already one!

[@CJacquot]

60% saving rate? that is absolutely insane. Good job.

[@defheescollard8398]

Good for you!!

[@bbalila]

My suggestion if possible, living longer (20-30 age with parents or share place) & save as much as 80-90%. That’s the plan for my son. I shared with my brother till 30 & saved ton of money. Both my brother & I were Mortgage Free by age 35 (600k+ hoses) by now age 40 million+ group. $20k is max our house expense (5k House/car tax, 5k Bills, 5k grocery, 5k just here there) rest all saving. Definitely retiring in Thailand, Spain, Thailand or Malaysia. In Thailand I can easily live $20k/year

[@Crowscendo]

I am 25 years of age and I am finally in a position with a good paying job but still in school. I do feel like I am a bit behind, but hearing this makes me feel like I'm on track or above that. thank u

[@moritzkohler9214]

Absolutly loved it. You have to sacrifice your 20 a little bit to enjoy the Rest of your Life. So true to my current Situation. Thankd

[@jacobphillips4805]

I'm so glad I stumbled upon this video. Changed my life, Thank you.

[@MoneyGuyShow]

Thanks for watching Jacob! So glad you enjoyed this video. Make to subscribe so you can stay up to date with our latest videos!

[@DeadSeriousOfficial]

I'm 22 I started investing this year I have a portfolio of 2,500 and a savings of about 3,000. I put what my employer matches in my 401k at 6% it will add up overtime. Plus I'm squaring away an additional 300$ a month 200 for saving and 100 for my investment portfolio. Anybody have tips on how I can improve? I'm trying to build up savings and my emergency fund and not only invest for retirement through my job but also with my own portfolio. Any tips or advice would be greatly appreciated :)

[@MoneyGuyShow]

Keep watching our videos for helpful information and advice! Keep up the great work!

[@RohanMakkarIN]

He reminds me of Peter Gregory from the Silicon Valley show

[@TartarianTopG]

Invest more, much more than 20% if you can!!!!

[@Norphas]

That was a nice show ! Thanks for the informations :)

[@MoneyGuyShow]

Thanks for watching Norphas!

[@alexfinn7989]

Thank you for addressing the problem of working only to escape.

[@sinistertoucan3729]

Looking to save 70%. Like Dave Ramsey would say " Be broke or be weird!"

[@frankjohnson376]

What are your thoughts on putting $ in a Roth vs. 401k, if employer does not offer a 401k match? In my opinion, the tax benefits (not paying any cap gains tax upon retirement) and freedom to choose investments regarding the Roth trump using a 401k devoid of employee match. Do you agree?

[@MoneyGuyShow]

Do ROTH if employer does not match.

[@frankjohnson376]

Thanks for the quick response!

[@MoneyGuyShow]

Anytime Frank, we are here for you! Make sure to subscribe and thanks again for watching.

[@TartarianTopG]

Frank Johnson and if they do match, do Roth and 401k at the same time if you can!!

[@benhargrove7969]

Love this channel!

[@MrBlinxsta]

When you speak about the investment of $160 / month from 25-65 are you speaking about an investment fund, aka retirement fund where you cant touch it? or do you mean stock markets etc. (australia here, so that would be superannuaiton?

[@MoneyGuyShow]

In this case, we are talking about investing for retirement and OTHER funds. In the U.S there are many benefits like the Roth IRA and employer match that encourages people to invest for retirement. However, you can always invest in non-retirement funds. Just don’t withdraw from your retirement funds early!

[@my_igwe]

i just moved from maryland to houston to start a company; 25

[@MoneyGuyShow]

Chukwudi Dike, Houston is a great area! I'm sure your new company will do well there. Thanks for watching!

[@tonetrue2251]

How Houston business going

[@angelo4739]

Needed this great podcast

[@MoneyGuyShow]

Thanks for watching Angelo!

[@scottpisapia1078]

9:10 is important. Great point, its so true!

[@MoneyGuyShow]

Thanks for watching and commenting Scott!

[@my_igwe]

great content

[@MoneyGuyShow]

Thanks Chukwudi!

[@ryanmcfarlen4130]

make a vid on whether college is necessary plz

[@BSANDY]

this is some great info but something is wrong with the audio there is a hiss it might be do to the mics being that close to each other but idk:(

[@MoneyGuyShow]

Thanks for letting us know BSANDY!

[@Norphas]

What do you advice for a college student like me who don't have much money but want to invest ?

[@MoneyGuyShow]

Invest in yourself during college and try to graduate with as little amount of debt as possible. After you secure a full time job, invest away!

[@Norphas]

@TheMoneyGuyShow So you do not advice to invest in market shares and all that stuff ? If I understand you well, I better have tobuy books and do self development ? Or did you have other ideas in your head when you talked about "investing in yourself" ?

[@MoneyGuyShow]

Use the cash right now to pay for school and graduate. We want people to avoid overloading themselves with student loan debt and credit card debt during college. It doesn’t make sense to invest at the expense of acquiring too much credit card debt and student loan debt.

[@Norphas]

You make a great point here ! And what about the spare money ? What do I do with it ?

[@Norphas]

What do you advice ?

[@kp.co.6074]

When you guys suggest savings 20% is that including the company match or do you mean that you should save 20% in addition to company match.

[@MoneyGuyShow]

If you make less than $200k you can include your employer match in the 20-25% 👍

[@Allagi22]

Sales pays well if you're good at sales, and selling the right product to the right customers. I would say 50% of people will not be able to make a career in sales. Of the 50% remaining, 30% of them will be able to make a living but a pretty average living say in the $35K-$50K/year range. Of the 20% remaining, 15% will make a decent living between $50K-$100K a year. 5% of all people who get into sales will make over $100K/year. And your income can vary dramatically from year to year or even month to month.

[@superiorseven4814]

Ha! I save 83% of my income! Come on guys.... strive for 15%????

[@MoneyGuyShow]

Great job SuperiorSeven! You have some superior saving skills. See what we did there?

[@arezkibenelhadj896]

take a look to crypto just saying that

[@MoneyGuyShow]

Dalton, that’s stellar.

[@cantrelate2757]

I currently save 87%😎

[@joseaguirre6478]

3 years isn’t long term, 5yrs and beyond barely scratches the surface of long term.

[@joseaguirre6478]

I’m 25 and my financial mind set and literacy came after I hit 15k in debt. I’m currently looking to increase my primary income to remove my debts and start to save for a home. By 30 I want to own my primary car outright with no credit or personal debts. And hopefully start my journey into real estate as my primary residence. Thanks for the content!

[@MoneyGuyShow]

Thanks for watching Burnt 🌮! Keep up the great work.

[@arezkibenelhadj896]

thank you

[@MoneyGuyShow]

Thanks for watching bodybuilding & fitness!

[@irrelevantjoker37]

I disagree with the comment on Teacher ROI. Currently if you use PSLF or any loan forgiveness plan is a quick ROI. MY wife will have her bachelors and 2 masters by age 30. Paid only 15k for 200k worth of education.

[@MoneyGuyShow]

Damian, so glad to hear your wife had a great ROI on her teaching degree! Thanks for watching.

[@irrelevantjoker37]

Love the show. Trust me I am glad as well.

[@richardrawlo8138]

first millionaire

[@MoneyGuyShow]

Thanks for watching Richard!

[@turtlesage364]

Im a self taught programmer,, I make more than my brother that has 4 years degree. I only have 2 year vacational degree.

[@vaughnwaldo]

Hi I’m 20. 🤓

[@MoneyGuyShow]

Thanks for watching!

[@mrderek800]

Why not aim for 10 million by the time I'm 65.

[@DheerajBhaskar]

This is such a low density of information.

[@MoneyGuyShow]

Dheeraj, thanks for watching!

[@dablackpimp3955]

The funny thing is due to inflation - 1mill in 40years will be equivalent to 100k now.. so not that great

[@MoneyGuyShow]

Thanks for watching dablackpimp!

[@dablackpimp3955]

Thank you for uploading such high quality content. Much appreciated!

[@avancedfinanceandinvesting9650]

That is incorrect. A future value of a million in 40 years time, taking a 2% inflation rate is approximately 450k in today's present value.

[@dablackpimp3955]

Yea, i didn't calculate it, but something like that

[@alexfinn7989]

Whatever it ends up being is irrelevant. It will be a hell of a lot more than what you would have if you did nothing today.