How to Become a Teenage Millionaire?
First of all, is it Possible to become a Millionaire in your teen age and if yes, then how? Well, of course it is possible to become a teenage millionaire. There are 2 ways to become a teenage millionaire.
01) By receiving a large Inheritance
02) By Developing a Successful (Internet) Business & Taking it public.
There is also a third way of becoming rich as a teenager and that is winning the Lottery.
Now, the first way of becoming a teenage millionaire … is that you receive a million dollar fortune at a young age via inheritance from your parents or guardians. But the possibility of becoming a millionaire through this scenario is very rare. And you don’t have to do anything to become a millionaire in this way … so we might as well end it here.
The second way of becoming a teenage millionaire is by developing an Internet Business, and later on taking that Business to the Public. This is the fastest way of becoming a millionaire … yes, it has to be done online … that’s why it’s the fastest way and doesn’t require a lot of money. Take the Example of Mark Zuckerberg, the founder of Facebook.com. He became the youngest billionaire (Self-made) in 2008 at the age of 23. And he started his Business (Facebook) at the age of 14.
So I believe that the only realistic and possible way of becoming a millionaire is by developing a successful Internet Business and later on taking that Business to the public. It’s only the Internet Business that can make you Rich at a much earlier age.
How to Invest at a Young Age?
It is advisable to start investing as early as possible in your life time … meaning Now. If you start investing at a young age, then the compound interest will work in your favor and make you richer.
Now, the question is this … How can you Invest at a young age? What are some possible assets that you can Invest in at a Young age? Well, Here are some Assets that you can invest in, even if you are a teenager.
- Mutual Funds
- Domain Names
- Web Properties
- Collectible Items (Stamps, Coins, Vintage Toys, Vintage Coke, Knifes, sketches, paintings, butterflies)
To invest in the first 4 financial assets, you will require a joint account with your parents or guardians. After that you can invest on behalf of them. But it is observed that sometimes parents don’t agree with this idea.
When I was younger, in my early days of High School, I have asked my mom to help me invest. However, with her industrial background she simply told me that “Trix are for kids” … hah not really, but investments are for adults and I should focus on getting good grades, going to college, and so forth. Just be glad that you’ve come across this article … or even the blog.
Now, if your situation is like mine, then go for the next 4 assets. Yes, the Online Assets. The main advantage of owning an Online Asset is that no one will ever know that you have invested your money in digital assets such as domain names, websites, and blogs.
You can also invest in Collectible Items. Yes, they are also Assets. Your parents will think that you are doing it as a hobby. But in reality, you are building your own Investment portfolio that you can sell on eBay to new buyers for huge profits.
So you have it, above are just few innovative ways to invest at a young age.
So What are you waiting for? Start Investing right away.