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Secrets To Becoming Rich In Your 20s

You’re young, ambitious, and want to get rich fast. I bet you’re asking questions like, “how to get rich in your 20s” or “how to build wealth in your 20s”?

I know, the thought of saving money and building wealth doesn’t come to mind when you’re in your 20s. But, did you know the sooner you change your mindset about money, the sooner you can become wealthy and live comfortably?

Just imagine… The feeling of being debt-free, the ability to freely spend 150 cedis on a special dinner with your partner. Overall, just imagine the feeling of freedom without having to worry about living paycheck to paycheck.


Building wealth in your 20s doesn’t mean you have to give up fun and live a boring life. You just need to know how to prioritize, save, invest, manage your money, and make money in your 20s. To truly become wealthy, you’ll first have to change your mindset about money.


Here’s how to become rich in your 20s (or any age, really). These are things I did to grow my savings to over 25,000 in just 3 years. Seriously, you’ll be surprised at the results when you put them together in action, so don’t take them lightly.


Let’s face facts. When you’re in your 20s (or even 30s), you’re influenced by your peers and how they spend. You also look up to influencers on social media, to see what their latest fashion and trends are. The problem is, you’re always going to want more and you’ll never become rich if you keep spending more than you make. 

You need to learn how to live below your means. For example, even if your take-home pay is over 100,000 cedis per year, but you spend 100,000 cedis or more, you are living above your means.

The person who earns 40,000 cedis per year, but spends 25,000 cedis is living below his/her means. He or she will have a higher chance of becoming rich compared to you who earns over 100,000 cedis.

Robert Kiyosaki said in his book, Rich Dad Poor Dad, that it is not about how much money you make, but it's about how much money you keep, how hard that money works for you and for how long it works for you.

To learn from those who know how to build wealth, I highly recommend reading The Millionaire Next Door by Thomas J. Stanley and William D. Danko. This book is one of my favorite classics.


With interest rates going up, it’s a wise choice to pay off all your debts before investing. That includes your student loans as well as your bank debt or whatever you owe a friend.

I personally prefer paying off the highest interest rate debt before tackling the lower interest rate loans. However, some studies show that paying off the smallest debt amount first (despite the amount of interest rate), works better for most people. That’s because this gives you motivation and momentum.

In the end, there is no right or wrong way of paying off debt. As long as you’re taking action to knock off your balance, you are well on your way to becoming rich in your 20s.


In my earlier points, I talked about savings and living below your means. Note that they are very important, but focusing your energy on earnings will make it much easier for you to build wealth.

There is a limit to how much money you can save, but your earnings potential is unlimited. Time is your biggest asset, so use it to your advantage.

There are ways to increase your earnings in your 20s. Start building passive income streams in your 20s and 30s. I am going to be honest and tell you that, none of these are easy in the beginning. However, I guarantee the earlier you start, the easier it becomes as you build your skills and capital.

These resources will compound over time, so you have a major advantage when you start in your early 20s or even teens. I say this from experience and I really regret not starting earlier!


To become rich in your 20s, you need to start investing as early as possible. You need to meet Mr. Compound Interest because he will always be by your side, so befriend him as soon as you can.

If you don’t believe me, learn about compound interest. I know you won’t regret learning because, by the time you’re done, you’d wish you had taken advantage of him earlier.

You will learn about his power and ability to make you rich with no effort from your end.


I know what you’re thinking…

No, you’re not too young (though you’re still young). But, it’s never too early to plan for retirement. If you can't plan for retirement now, that's understandable, but please plan for emergencies at least.

The earlier you start (i.e. in your 20s and 30s), the easier it becomes. And no, I’m not saying it’s easy because it’s not, especially in the beginning. But, I promise that it will start feeling like second nature when you form the right saving habits.


You are lucky if you are still staying with your parents and they feed you. If not, how much does a plate of rice cost? Or even a bowl of fufu plus meat? Or even these fast foods? You can prepare it yourself and save money.

You don’t understand how much money you can save, just by preparing your own food. All that money you will save is worth it, because the thousands of cedis (I call them my little employees) will work for you, and they will continue to grow in your investment accounts. 


The saying goes, “no health, no wealth". What’s the point of being wealthy if you’re not healthy? That means you are going to spend all the money on hospital bills, and go broke again.

Living a rich life is more than just having a huge bank account. To be honest, when I’m feeling unhealthy, I’m very unhappy. And I can't work. With that said, it’s important to take care of your health, while building your wealth. Without it, you’re not in the state to build and manage your wealth.


DIY means do it yourself. While you’re still young and in your 20s, take advantage of learning almost anything! Before you purchase something, ask yourself if there is a lower-cost alternative, or if you can DIY.

It’s okay to hire the pros so that you can save time on the complicated tasks. But, for the most part, you can seriously save so much money by learning and having fun with DIY. Not everything will appeal to you, but you can choose the things that interest you.

By the way, when I talk about DIY, I’m not talking about rewiring your electricals at home, or any dangerous job that requires a professional. I’m talking about things such as:

– Refurbishing old furniture

– Doing your own nails

– Cooking your own meals

– Painting your own walls

– Looking for home decor ideas on Pinterest or Facebook.


I came to realize that a minimalistic lifestyle will not only save you money, it will also save you time from making too many decisions!

Why do you think Mark Zuckerberg, Barack Obama and Ray Diallo wear the same "uniform" everyday? The answer is simple: They don’t want to choose. Too many choices lead to decision fatigue.

Obama once said: “I’m trying to pare down decisions. I don’t want to make decisions about what I’m eating or wearing. Because I have too many other decisions to make.”

And here’s what Zuckerberg also said: “I really want to clear my life, to make it so that I have to make as few decisions as possible about anything except how to best serve this community.”

 What they say makes sense. When you’re bombarded with too many decisions such as what to wear, what to eat, where to put your stuff, etc., you’re using too much brain power and wasting time that could’ve been better spent elsewhere. For example, that time could be better spent beefing up your financial knowledge, to improve your financial situation.

With that said, choosing to live a more minimal lifestyle will improve your wealth and health by reducing chaos. Think about all the money you wasted on things that you don’t even use, and now you want to even discard them.


Have you heard the saying, “rich people have massive libraries whereas poor people have huge TVs?” Why am I not surprised?

That’s why wealthy billionaires like Warren Buffett spends 80%of his day reading. One benefit is that you’re more likely to become rich! In Business Insider article by Drake Baer, Bill Gates says that he reads 50 books a year and that gives him an advantage.

With that said, if you want to be rich in your 20s, start reading more often. Even if you’re past your 20s, you can start now. There’s no better time to start than right now!

Want to start reading more to beef up your knowledge? There are a lot of digital books out there, that will interest you. You do not need to read as much as Warren Buffett or Bill Gates, but at least enough to enhance your financial literacy. Again, reading and self-development will make you wealthy in your 20s (or any age).

“Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.” — Warren Buffett


On top of reading and gaining insights from the best-selling authors, you can learn from other experts. Many people think that the only time they’ll learn is in school. That is so untrue!

There are so many things that you can learn outside of the school setting. For example, I mentioned earlier that you can learn how to DIY certain things, such as refurbishing furniture and looking for inspiration on Pinterest. Whatever sparks your interest, go for it!


I’ve mentioned this point so many times to my friends, and I’ll keep mentioning it because I really believe in it!

People generally do not take risk because, they fear the outcome may not go their way. I understand but my point is, we are still young and can correct any mistake we make, unlike people in their 60s.

People want too many things without putting in the time and effort. They also want high returns without taking any risks! But you need to understand that there’s no such thing as high returns without taking some risks!

The earlier you start, such as in your 20s, the more time you’ll have to recoup any losses. It’s similar to investing in growth stocks — the younger you are, the more volatility you can withstand!

I say this a lot because you don’t want to regret in your 50s, that you didn’t take enough risks. I took this advice from elderly people in the society (most of whom are poor).

In the end, it’s a matter of taking calculated risks and again, please know that nothing is guaranteed. But ask yourself, what's the worst that can happen?


Speaking of taking risks, studies show that the rich become rich because they are able to take calculated risks. In Steve Siebold’s book, How Rich People Think, he says they get comfortable with becoming uncomfortable.

Being able to get uncomfortable starts off with your mind and how you think. Rich people view it as an opportunity, whereas the masses automatically view it as a guaranteed failure or loss.

As a result, the masses either give up too soon, or they don’t even bother to try. Again, nothing is guaranteed but to increase your chances of becoming rich, you need to first believe. Once you believe (your rich mindset), your actions will follow. When you take action, you’ll stand a chance of winning.

Yes, it’s easier said than done because if you haven’t noticed, the hardest part is changing the way you think. Most people’s minds are lopped-sided and aren’t open to the opposite view.

Some of you who are reading this point will disagree and that’s where I have to bluntly say that you likely have the masses’ mindset. By the way, there’s nothing wrong with that because everyone is different. I can respect those who value security and I understand how they feel.

On the other hand, if you’re able to resonate with this point, you likely have a rich mindset, so you will stand a chance of becoming rich — as long as you take action.

So, if you want to increase your chances of becoming rich in your 20s or 30s (even 40s), start developing a rich mindset today! Steve Siebold spent nearly three long decades studying and interviewing the rich. 


If you ever want to become rich, do yourself a favor and stop thinking about an inheritance. Studies show that those who win the lottery or receive a windfall become poor.

Forget about your father's cocoa farm or your mother's hidden gold. To become rich, you need to rely on yourself and no one else. Know that there will not be any ships to come save you, so you’ll have to start building one in your 20s.

Again, the younger you start, the better off you become because you’ll have more energy and time to build one from scratch. You need to realize that those are valuable assets (energy and time) when you’re young. So, instead of taking your assets for granted, start taking advantage of them!


Let go of your ego and acknowledge that there are, (and will be) people who are smarter and better than you. Instead of wasting your time and energy gossiping about them, or being jealous of them, you seriously need to start learning from them.

Tony Robbins says you’re the average of the five people you hang around, so start surrounding yourself with those who are better than you!

If you don’t have any friends who aspire to become rich or wealthy, start stuffing info and facts about rich people in your head. For example, I follow Elon Musk because he’s very inspiring.

The more you read and learn about high achievers, the more you’ll want to mimic their behaviors. Though I won’t become an Elon Musk, I’ll still be able to improve my life by following his ways.



If you read Robert Kiyosaki’s book, Rich Dad Poor Dad, you’ll notice that he says, “Broke is temporary, poor is eternal.” 

If you’re still in your 20s, it’s okay to be broke today because, you’ll become rich tomorrow, (as long as you start adopting habits of the rich). Just don’t use the term “poor” on yourself, LOL!

And speaking of Rich Dad Poor Dad, I highly recommend this book. It’s a book that I wish I read earlier because I really believe it would’ve changed my life sooner!


I know you came here to read how to become rich in your 20s, 30s, 40s, or even 50s. But here’s one thing you need to realize. Being rich isn’t just about how much money you have, or how successful your business becomes.

Though it helps you live a better life, (because you don’t have to worry about money), the progress of getting there will be a very long journey — it will take up almost your entire life!

With that said, it’s important to still enjoy the little things throughout your wealth-building journey. That includes spending time with your family, traveling the world to learn about different cultures, and/or watching your favorite sports team with your friends. Just be time conscious.

It could even be something as simple as sipping on your favorite drink while doing nothing. These are all rich experiences that a vault full of money can never buy!

Most of us get so preoccupied with getting out of debt, or building wealth for our future, that we forget to live in the moment! Like I said, having balance is key to living a rich life.

So, while you’re all trying to become rich or financially independent, don’t forget other aspects of your life. Learn to have fun and live in the moment! We are blessed with this present, so don’t take it for granted.

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