How Do I Become a $100 Millionaire By 30? (I’m 14)

[Music] brought to you by the every dooll app start budgeting for free today today's question comes from Nathan in Kentucky I am 14 years old and I was just wondering what is a good way to try and become to try and become at least a100 oh oh gosh a 100 million wait 100 100 million 100 millionaire by the time I'm I didn't know that was a term I wasn't sure either uh I was just wondering because I discovered you guys on Tik Tok get George uh and I thought to myself that y'all had good information and I just wanted to know if it's possible thank you for your time wow I'm doing the math for our friend Nathan here Rachel it's not looking good 100 do you want to know what it takes Rachel I would actually would love to know okay it takes get this you would have to invest from the age of 14 to the age of 30 and we're going to assume a 10% rate of return sure okay yeah from 14 to 30 you'd have to invest every single month 200 $20,000 so there's the true answer Nathan Nathan but because now your hope has been stolen from us let me give you some do do a millionaire do one million $1 million to get to a million okay well that's so that would be a that would be what did you say 2,000 a month at that point 220 Grand was for a 100 million yeah so if we take it down to 20 grand uh that's 10 million that's pretty good I'm going to go five grand a month would get you to two so two million just about 20 2000 yeah just about 2,200 bucks a month all right from 14 to 30 okay all right that's that's still a lot of money for a 14-year-old to be soing away we at least got a bullseye we can look for um okay so Nathan I would encourage you um to get Beyond this like label of quote unquote millionaire because I think a lot of people believe if I just had this amount of money whether it's 1 million or 100 million yeah everything's going to just be fine and I'm going to be okay um and the truth is financially numbers wise there's a good chance yeah that you you know that's really going to help you but your money habits are going to be a big part of this and who you are as a person Nathan is going to have a big part in this because there are people I would say that have millions of millions and are still very discontent people and they're still running this race acquiring trying to find some level of Joy um and peace in life and they're not finding it through money because money does not bring that it can bring stability it can bring you uh the ability to do things with your life that is fun and have experiences like that is all true but there is um I would say a bigger character question there of why do you want to have this millionaire status and to go ahead and bust the bubble that just because you reach that does not mean that life is suddenly going to be perfect for you that's I feel like that's the myth out there you know oh yeah well if I can just do this and by 30 you know there's like kind of that whole the fire movement it's like we're I'm not going to do anything with my life if this doesn't happen by this age then my life is over and I've failed yes it's insane so I just I rebuke all of the get rich quick even if it's with decent intentions and you want to do it the less risky way there's just no good reason that any human needs to make hundreds of millions or even I need to have a million by this age and the truth is Nathan if you follow the Ramy baby steps you're going to get there by 30 your net worth will be a million dollars or more uh just by staying out of debt stacking up cash buying a home getting the house paid off investing 15% of your income over time compound growth is going to take over and do the heavy lifting for you so that's the not fun answer uh but I do think we need a new book from Dave called Baby Steps 100 millionaires looked it up it's called centimillionaire is the C- millionaire that's right oh so it is a thing Senti millionaire is you have 100 million more I am not cool I I wasn't your word's not mine that's all I'm saying thank you for the you know Nathan it was a good brain exercise even if it was an a pretty wild question ask good for you the fact that a 14-year-old thinking that way he's going to be the the world changer out there sure cuz it's going to take being an entrepreneur to make that kind of money or even close you know you're not going to make that as a W2 employee likely but I wish you the best maybe Nathan will be calling in at 30 being like hey just so you guys know I have 100 million I'm a wait what was it called again STI mil Alex Heros you know the super beef cake dude we've had him on the show and he's he's a Senti millionaire and he's an entrepreneur that's how he did it and he's about my age so call me a failure many many do many do you're still working George you know I'm here I'm doing it I just do it because I love it Rachel I haven't had to work in years I'm kidding create your free every dooll budget today the simplest way to budget for your life