Can a teenager become a millionaire? Simply put, yes. It has been done countless times, but it certainly isn’t the norm. Child actors, performers, social influencers, and even entrepreneurs have all achieved millionaire status at a young age. So then, how can someone follow in their footsteps to achieve such a high level of wealth at a young age? Read on.
Right Place Right Time
There is an element of luck that has launched some young people into fame and fortune. Whether spotted by a talent scout or gaining the right audience through a social media post or channel that goes viral, some people are simply in the right place at the right time. Not to discount hard work and dedication, as those are certainly important to anyone who wants to build wealth.
An Uphill Climb
Being a teen means being a minor for most of those years. That means that you don’t have the same legal rights or abilities as an adult. Starting a business, acquiring a loan, and signing a contract can all be problematic without the help of an adult. The adult in these scenarios is normally a parent or legal guardian. If a teen is lucky enough to have an adult who will work with them and manage their affairs while they are minors, then they stand a much greater chance at success.
Time Window
Being a teen doesn’t last long. Teens realistically only have a few years to become a millionaire. This creates a sense of urgency to build wealth and achieve millionaire status. It has been done as seen in these examples. As you can see, with hard work and a winning idea you just might see the next teenage millionaire coming to light.
Some Advice
Most teen millionaires didn’t start out with the goal of becoming a millionaire. They were just being kids and pursuing their passions. The soundest advice for teens and really anyone at any stage of life is to not make money the goal. Find your passion and pursue it. If you can find a way to monetize it, then you might just end up building a fortune.
Even if you don’t become a millionaire at a young age, planting the work ethic and goal setting mentality early will almost always ensure long-term success. It may take you a little longer to achieve millionaire status than some of the examples in the link, but that doesn’t mean you are less of a person than they are. Some good closing advice besides pursing your dreams is to not get caught up comparing yourself to others. So, can a teenager become a millionaire? Absolutely. Just don’t make that your only goal.
Read Also:
Everything You Need To Know About Becoming A Millionaire In Your 20s
Do you Have What it Takes to Become a Millionaire in a Year?
$0 to a Millionaire in Five Years or Less?
Writer and Investor. Based in the Pittsburgh, PA area, Brian Lesko holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth-building, investing, gardening, and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.