How to become a millionaire in Your 30s: Easy steps to follow!

The title of this post is just enough to attract anyone. Who doesn’t wish to get rich? We all dream of achieving our financial goals and become wealthy one day. Right! So, let’s get into the basics of how to become a millionaire in your 30s some easy steps to follow and you are ready.

Become a Millionaire in Your 30s: Path to follow

The path to becoming a millionaire is not an easy path that most people can quickly navigate, but reaching your first million is still possible. The truth is that it requires hard work and dedication to achieve the goal. You’ll also have to make wise decisions to steer your life to the right path. And most importantly, there are sacrifices to be made.

Unless you’ll inherit a large sum or win a grand prize in a lottery, then you could be a millionaire in your 30s or even in your 20s. But for the ordinary people who are not born rich, achieving the millionaire status is still possible especially with dedication, sound judgement and hard work. It also pays to have an open mind to hear and learn tips and strategies from regular people on matters involving savings, budgeting and most of all, investing.

You’re closer to the goal if you followed these Financial planning tips in your 20s :

When you were in your 20s, you had a great opportunity to start your path to becoming a millionaire for many reasons. For one, you were definitely a fresh graduate and were in your first job. You might be having a low income at that time as compared to what you are earning now, but you still didn’t have many financial obligations such as mortgage, personal loans, credit card debt and even expenditures related to building and maintaining a family.

Furthermore, there are things that you could have done or may have already done back in your 20s that will help you conveniently reach your millionaire goal while in your 30s. Here are some of them:

  • Defined what you really want to achieve in your career and worked through the ranks to gain high income;
  • Invested in your personal and professional growth as much as possible by taking full advantage of company training and public seminars, especially if they’re offered for free;
  • Developed a positive attitude that sees failures as an opportunity to improve oneself to achieve success next time;
  • Nurtured the habit of setting aside money for savings every time you receive your income, learning how to save money on a regular basis ;
  • Built a good credit record by using your credit card wisely and repaying personal loans promptly;
  • Developed a sense of frugal living wherein you only spend for important things or choose cheaper alternatives to products without sacrificing quality; and
  • Learned whatever you can about financial investing opportunities or at least be open to learning about them.
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For a deeper insight on financial planning tips you can refer: 10 Financial Planning tips to be followed in Your 20s !

But it’s not too late if you’re in your 30s now

Don’t worry if you feel like you wasted your life, money-wise, when you were in your 20s. Remember, many founders of billion-dollar companies started their path to greatness in their mid 30s and later. These people include William Procter of Procter & Gamble, William Boeing of Boeing, Reid Hoffman of LinkedIn, J.C. Jacobsen of Carlsberg, Masaru Ibuka of Sony and Doris Fisher of Gap.

So now, have a strong desire to achieve your first million while in your 30s and take action towards that financial goal. As a start, consider the list we previously mentioned on what should be done when you were in your 20s. This means you continue living a financially savvy lifestyle and don’t stop learning for professional and personal growth especially on money knowledge.

Then you can add the important tips we offered here in the next sections.

How to become Millionaire? Easy Steps

These are not any out of the box tips but simple and easy steps that if followed wisely, will surely help you in achieving your financial goals smoothly. 

1. Define your Financial Goals and Lay out your action plans in writing:

One of the best ways to stay focused on your financial goal is to put it down in writing. It’s also a good way to determine whether your financial targets at certain times are feasible or not, allowing you to adjust your financial goals accordingly.

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For example, if you want to achieve your 1 million when you’re 39 years old, calculate how much you will need to acquire every year, every quarter and even every month beginning today. This will help you track your progress at any given time and make adjustments if needed.

2. Engage in the stock market and other investment opportunities:

The stock market provides a huge chance for you to earn your millions, especially if you’re a risk taker. With many startup companies growing these days especially in the financial technology industry, you will have the chance to buy shares at a low price. If the companies are doing great, you can sell your shares at a higher to be millionaire, how to get rich, become millionaire, get rich

Be warned though that playing the stock market requires keen observation of the effects of various global and local events to the shares you own.

It also requires careful research as to which companies to invest in. But once you get the hang of it, you will enjoy buying shares and watch your financial value grow.

But if you don’t have the time or the skill to engage in the stock market, you can opt for other investment alternatives like investing in mutual funds and related schemes. These are investments wherein you join other investors in pooling the funds to be managed by a professional who will decide the best way to diversify the portfolio. In essence, you just put in your money, watch your investments’ movements and redeem your income and/or your capital when needed.

Depending on the performance of the portfolio and the economy in general, these pooled funds can help you achieve your first million if you enter the transactions early in your 30s or 20s.

To get some great and useful investing tips,also have a look at one of our popular blog posts : How to Start Investing your money – A Beginner’s guide !

3. Start your own business then continue running it or just sell it later on:

As what we noted earlier, it’s never too late for success. It’s amazing how some people in their early 20s these days are becoming millionaires with their businesses, but don’t worry. Some founders of successful companies even begin their journey in their 40s. So what’s stopping you from building your business in your 30s ?

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There are several ways to start your business, but the most valuable advice to take heed is to consider your passion. When you’re doing something you’re interested in, everything won’t feel like a chore and the next thing you knew, you already reached your first million!

Alternatively, you can opt to build a startup offering products or services that have high demand from your target market. But don’t just depend on what’s lucrative. Make sure to listen to your customers and you can gain insights on what new services or products the market will be patronizing next! By upgrading your business to meet and exceed demands of your target market, you are on your way to achieving your millions quickly.

You can continue running your startup business, or you can sell it and build another company. If your startup has been doing well in the first 2 years, investors would be willing to pay as much as 100% more of the company’s annual earnings. So once your company is earning at least $500,000 a year, selling it could give you your first million!

How to achieve your 1st million: A Quick Recap

Having your first million can be summarised into the following 3 steps:

  1. Reduce expenses.
  2. Generate income.
  3. Invest wisely.

Most importantly, you should focus on your millionaire goal and have a healthy attitude and mindset towards your personal finances.

If you have any other ideas on How to get rich in your 20s or 30s or How to become a millionaire in your 30s, do share with us. We would love to hear your valuable feedback in the comment section below!

Kindly note that, this is only a guest post and not a sponsored one. We have not received any monetary benefit for it.

Author Bio:

This is guest post by Maricor Bunal, a professional writer at, who aims to spread financial literacy by sharing tips and articles on finance.

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