Things to do in your 20s and 30s to build wealth

Most definitely, you can start building wealth right now by implementing these things in your life. I take it you’ve been wondering about wealth-building strategies and so today, we are going to zoom in on some things to do in your 20s and 30s to build wealth.

Many people have managed to acquire generational wealth, for example, wealth through property/real estate, businesses, etc.

While for most of us, we are learning numerous ways to build wealth so we can better our lives and achieve financial freedom.

Whether you are building wealth in your 20s or building wealth in your 30s, I want you to believe that it is possible for you (No, it is not too late). It’s literally up to you and your mindset.

Learn how this mother went in survival mode to build wealth for her young son.

Ok, let’s get to the tips! (Feel free to bookmark the page and get back to it).

Wealth creation strategies

1. Take risks

No way you can be afraid to take risks. I know sometimes the unknown is scary but my thing is always, ” I won’t know unless I try”. I think we are most scared of losing when it comes to taking risks.

However, I hate to break it to you guys, but losing is a part of taking chances.

At the end of the day, you’re going to learn and avoid making those mistakes next time. Additionally, you’ll grow and maybe become a coach or mentor to some, who knows?

“When it feels scary to jump, that’s exactly when you jump. Otherwise you end up staying the same place your whole life. And that I cant do”.

J.C. Chandor

2. Investing your money

Among the smart things to do in your 20s and 30s is in fact, investing.

There are so many options when it comes on to investing. For Instance, you can invest in stocks, bonds, cryptocurrency, etc.

Also, investing in real estate is one of the best ways to create generational wealth.

If you want to learn how investing works and how to get started, here is a beginner’s guide.

3. Start a business

Starting a business is a great option. Yes, you’re going to need capital but of course, the amount is dependent on the type of business.

For some, you might already have money saved up that can be used as capital or in good standing to get a loan.

However, for my friends who aren’t so lucky, there are so many small business ideas you can start with little or low capital, namely:

• Making and selling items
• Sell your skills on Fiverr
• Start on online thrift store
• Dropshipping (Shopify, Oberlo)
• Start a home-cooking and delivery business

(Just to name a few)

4. Get rid of bad money habits

Another way to build wealth is to get rid of bad money habits. Though this looks simple, it’s a big deal.

Bad money habits can drive your finances down the drain when you start making money and are on your way to wealth creation. Generational wealth is the goal for most and therefore I implore you to learn good habits.

Good money habits will help you to spend wisely, save money, budget properly, and invest smartly in turnover profits, etc.

Learn how to get rid of bad money habits now.

Ways to build wealth

5. Adopt the habits of rich and successful people

Ever wondered how rich and successful people have similar things in common?

Sometimes it looks so trivial, but it’s good to imitate these habits if you are serious about building wealth.

Also, believe in yourself. Believe that you can build wealth and you’re worthy of it all. So, get on that bandwagon if you really want to build wealth in your 20s and 30s.

Here are 18 habits of rich and successful people that you can adopt today.

Moving along…

6. Network with people who are in line with your goals and dreams

To build wealth, it makes it much easier to hang with people who see the bigger picture, encourages you towards your goals, are disciplined, shares a similar mindset, interests, and passion, etc.

I find that when I surround myself with these people, I’m my best self. The journey seems more doable, informative, filled with creative ideas and logical thinking.

By embracing a wealth-building network, you will learn to become the best version of yourself.

7. Have multiple streams of income

This one goes without saying right?

In today’s era, having multiple streams of income is the goal and also a wealth-building strategy.

So, you’ll have your main source of income as well as other side income to push your finances forward. Here are 5 benefits of having multiple streams of income.

In fact, here are some income stream ideas:

• Making money online as a beginner
• Passive income streams
• Side hustles to help build wealth
• Rent out your stuff for extra cash

Also, this interesting article speaks about how millionaires use multiple income streams to build wealth.

8. Start your retirement plan early

Another way to gain wealth is to start your retirement plan early. You’ll be able to stash away a lot more money over time as you’ll have more years up your sleeves for your money to grow.

Here’s how you can know more about when to start saving for retirement and how it works in your favor to build wealth.

In concluding, as everyone wants to live their best lives and achieve financial freedom, wealth creation can aid that.

These are a few smart things to do in your 20s and 30s to create wealth: through multiple income streams, investing to build wealth through property and real estate, investing in the stock market, starting your retirement plan, early among others.

Check out this book by Dave Ramsey below or start reading how to achieve financial freedom. Thanks so much for stopping by!