How to Become a Millionaire by 35

Become a Millionaire by 35

becoming a millionaire by 35 is possible with the right amount of planning and hard work

How do you become a millionaire by 35? For the average person, it won’t be an easy task. 38% of millionaires are over age 65. Only 1% are 35 or younger. So how can you join the 7-figure club at a young age?

Advice for the Average Person

There are people that achieve millionaire status by age 35 or even sooner. Sports stars, celebrities, and lottery winners all come to mind. But what about the average person? Well, you are going to need to get a few things in order if you are going to be a millionaire by 35.

Get Others on Board

Your spouse, if you are married, will be your greatest partner on the way to becoming a millionaire. If you are both on the same page with the same goals, then two incomes are better than one.

You will also want to seek advice from people who are already millionaires. Create and maintain a mentor group. There is no better way to become a millionaire than by hanging out with people who have already achieved the feat.

Stay Out of Debt!

It should be common sense that staying out of debt will help increase your chances of becoming a millionaire early in life. Buying used, driving older cars paid for in cash, and generally living below your means are all absolute necessities.

Create a Plan and Stick to It

Everything from the college that you attend, the major that you choose, and the career path that you take all need to be carefully thought out. You will want to keep student loan debt to a minimum while choosing a major that will lead you to the highest paying income possible. In-demand careers will pay more. More pay means more money to save and invest early in life.

Housing is another huge factor in becoming a millionaire. Keep your mortgage at 25% or less than monthly take-home pay. This will free up more money for investing.

You are going to be largely on your own when it comes to your peers on your journey to becoming a millionaire. They will be buying new cars, big homes, and fancy possessions. You on the other hand will be living well below your means. Barebones in fact. You can’t let others decide how you should spend your money, and you can’t worry about what others may think. Unless they are part of your trusted inner circle of mentors, then don’t worry about what they are doing with their money.


For the average person becoming a millionaire by 35 probably isn’t realistic. It does take a near-perfect alignment of circumstances for it to happen. Choosing the correct spouse, choosing the correct career path, living well below your means, and starting with investing in your early 20’s is all key. Most people just aren’t going to have all these factors align at the same time when they are just getting started out in life. I suppose that is why only 1% of millionaires are 35 or younger.

Even if you can’t quite get to millionaire status by 35 you can still get there. It’s never too late to create a budget, increase income, and start investing. 35 has come and gone for me. As of this writing, I am 43, and I am still not a millionaire. I am close, however, and all things being equal I should be there in the next few years.

According to CNBC there are around 19 million millionaires in the United States. That works out to about 8% of the population. So, while this is a small number it is possible to achieve millionaire status even if you don’t do it by 35. In fact, the average age that someone becomes a millionaire in the US is around 58 years old. So, don’t give up hope if you are past 35 years old and still haven’t achieved a 7-figure net worth.


You can become a millionaire by age 35, but it will take a lot of planning, a lot of sacrificing, and a lot of work. Only 1% of millionaires will get there by 35, but it can happen. Whether or not you achieve millionaire status by 35 it is never too late to start on the journey of wealth building.

Are you a millionaire? How old were you when you hit the seven-figure mark? Share your story below.

Read Also:

The Financial Aspects To Be Taken Into Consideration For Drafting A Millionaire Plan

How Much Do You Need To Save To Become A Millionaire By Age 65?

How to Make Millions: 8 Investment Myths You Should Stop Believing

Personal Finance Book Review – The Millionaire Mind by Thomas J. Stanley

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