This is a generation where less than twenty year olds are becoming millionaires and billionaires, this is a huge shift when compared to the previous generations. Are there more opportunities now than there were then?
This generation has ushered in a lot of very young millionaire and billionaires who are just in their twenties, comparing this generation to the previously generations, what changed?
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It is often awe-inspiring to think about how early some of the world’s most famous entrepreneurs got their start. Many of them simply had a fantastic idea and then just worked their butts off to make it reality. We all know that some entrepreneurs get rich quick, but still others do it even while they’re young. Quite a few of them are making their first million before they’re even of legal drinking age.
While most teens spend their youth honing work skills in entry-level jobs, whether that’s slinging fast food or working retail, others get that spark to succeed at an early age. There’s no shortage of useful advice out there to help even the very young make strong business decisions. There is also no minimum age to become a millionaire, as these “kids” know firsthand. From playing the stock market to starting up their own companies, check out these 40 teens who made millions before turning 20. For example; Tyler Dikman at 8th grade was charging $15 an hour to fix computers. His skills caught the eye of Merrill Lynch executives, and he was hired by Malcolm Taaffe at age 15. He soon started his own business, Cooltronics, repairing computers–making millions and scoring him a spot on Businessweek’s 25 Under 25 list.
The difference between the millionaires of the older generation and the ones created today is that many of them stand to inherit even more wealth from their parents, who are considered the wealthy. There is also a significant tech influence on the rise of millennial wealth. This generation of millionaires value homeownership and consider it key to wealth-building in the long term. They share the view that real estate is key to wealth creation. Millionaires in their 20s who know their life is going to change and probably only plan on living in a property for two to three years. They have the intention of hanging on to the property afterwards and converting to a rental property, to create more wealth. Many make use of resources around them to create wealth; grabbing opportunities to their Favour.