How to get rich at 20?

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If only I had known how to do it already at 20, today (maybe) I would be a millionaire.

But I’m not sick, but I’m far from being able to define myself as truly  Rich.

Important premise.

My concept of wealth is very simple.

You are rich if you have a lot more money than you need to meet your needs.

I think that the concept of wealth is very subjective.

There is no amount of money after which you can call yourself rich.

You’re rich if you don’t have to worry about making ends meet.

According to this premise, it is not impossible to get rich when you are 50/60 years old.

It’s much harder to do when you’re 20.

But it is not impossible.

You don’t necessarily have to come from a wealthy family.

You just have to follow a few simple rules.

Let’s see what they are and how to introduce them into your life.

In this article

  • # 1 – Don’t get into debt and pay it back if you have it
  • # 2 – Don’t buy a house
  • # 3 – Save money
  • # 4 – Get extra income
  • # 5 – Invest at high risk
  • # 6 – Invest in training
  • # 7 – Try everything
  • # 8 – Nurture interesting relationships
  • Conclusions

# 1 – Don’t get into debt and pay it back if you have it

First of all, you don’t have to make any debt.

If you don’t have the money, it’s okay to give up on something.

The car is not essential, in Italy you do not need to take out a loan to go to university.

I don’t want to talk to you about cell phones bought in installments …

If you start piling up debt at 20, what will you do when you’re 30 or 40?

# 2 – Don’t buy a house

At 20 you don’t have to buy a house (with rare exceptions).

Your life cannot already be decided at 20.

You may quickly want to change city, job, area.

It makes no sense to go into debt to buy a house and then maybe sell it again after a short time.

In real estate investing it is easy to lose money especially if you operate in the short term.

Why do it at 20?

# 3 – Save money

The magic formula is always the same.

Spend 50% of your income on Needed.

Spend 30% for pleasure.

Save 20%.

I must say that at 20 you have to try to save a lot more.

If you can live in your parents’ house, avoid buying a car and do not be influenced by trends.

If you can save 50% of what you earn it would be the TOP.

It doesn’t have to be done forever.

But every euro accumulated in this phase of your life makes a lot for your future.

It also allows you to invest to generate additional income.

If you don’t want to suffer your whole life, start saving hard for at least a couple of years.

You will create a foundation and a set of rules and habits that will help you throughout your life.

# 4 – Get extra income

If you have a job and are young you have a lot of free time.

Except for 8 hours to sleep, you have at least another eight hours and 2 days of weekends to dedicate to whatever you want.

That’s a lot!

But I don’t want to tell you that you have to use them all to work.

You can also have fun now and then.

However, you can do a thousand things to create additional insurance income.

You can make deliveries, find a job, make money with matched betting,  write a blog, work overtime.

If you want to start creating a nice passive income, read my guide on how to do it from scratch.

# 5 – Invest at high risk

If you start investing young, you can afford more risks.

As a young person, you have no responsibilities (typically) and you need less money.

You don’t have a family or children on your shoulders.

Risking more has advantages.

The higher the risks, the higher the returns.

That is why I advise you to take risks and invest a part of your assets at high risk.

If you are 20, you cannot put your money into a deposit account.

Don’t play on the stock market, however, if you don’t have the tools to understand it.

Rather, get help from professional services where you can opt for a riskier profile.

Study and remember that investing is a serious matter in which you cannot rely on luck or your nose.

# 6 – Invest in training

If at 20 you have a job you enjoy and want to do that in life, don’t forget to always improve your skills.

Become so good that no one can ignore you “

Steve Martin

Invest in courses, degrees, accreditations, reports.

At twenty it’s easy for everyone to tell you YOU ARE TOO YOUNG.

In life, you will stay too young for a long time.

Ignore these comments.

You have a big advantage.

You can read the world in a new way that your older colleagues no longer know how to see.

If you fill the knowledge gap, you will no longer have limits and barriers to cross.

You can quickly become the best.

# 7 – Try everything

At twenty you have the energy and enthusiasm to try anything you want.

I am a freak of focusing and doing one thing at a time.

But at 20, you can afford to do multiple things at the same time.

You can have more jobs, start a side business, invest in a thousand different activities.

In this way, you will have a better chance that at least one business among those chosen will be successful.

In short, at this age try it.

# 8 – Nurture interesting relationships

One of the limits of the new generations (they say) is to relate with difficulty.

If this is true, those who can build virtual or real thick relationships will win more and more.

It is not necessary to get in touch with people of your age, from your country.

Today you have the opportunity to easily get in touch with interesting people of all ages and who live in any part of the world.

Each person enriches you with his experience and his experience.

If you are young, find a group of friends with whom you can compare and grow.

Accept advice but don’t necessarily follow it because, as De André says, people give good advice when they can’t set a bad example.


It’s not hard to get rich at 20.

Just don’t think about the Rich Kids.

You have to forget about unnecessary expenses and start working to create a future made up of work, but also of income, investments, passions.

If you start building a fortune early and put it to good use, you will reach the age of thirty with a great advantage over your peers.

And if you are lucky or are truly gifted with exceptional qualities, you can also accumulate extraordinary wealth.

But don’t worry, you have your whole life ahead of you to raise your awareness and improve the management of your finances.

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Alfred Williams, a distinguished business writer, navigates the corporate landscape with finesse. His articles offer invaluable insights into the dynamic world of business. Alfred's expertise shines, providing readers with a trustworthy guide through the complexities of modern commerce.