Getting Ahead In Your 20s Financially Nearly Impossible On Just A Salary
Building up net worth in your 20s is very difficult, impossible for many. For many, their 20s is just trying to climb out of a hole of debt built up by irresponsibility and student loans. To break even by 30 for many is a major achievement. Unfortunately, breaking even means you’re essentially at zero.
So, how do you amass some significant wealth by the time you reach 30? You can be frugal and save, but you’re not likely to hit it big to any certain degree.
Simply put, your salary won’t get you very far in your 20s, because frankly, most 20-somethings don’t earn that much. Getting wealthy from a salary is difficult enough when you’re making decent money, but it’s nearly impossible with entry level positions.
So, who are the 20-somethings I know that have hit it big? I don’t know many, but the ones I do all did something on their own. They created a business that either became very, very profitable or they created a business and sold it for a nice chunk of change.
While this isn’t necessarily something easy and something you can do over night, it’s worth asking if you’re moving towards this end to any extent. Are you positioning yourself to start and build a business? Are you making contacts, building skills that can help you do this? How are you spending your free time? I hope the answer to that isn’t watching television.
Take this opportunity to do a self examination of where you are financially and where you are in the process to starting something on your own to hit it big. If you haven’t even started that journey, it’s time to take the first step.