6 Millionaire Habits I Wish I Knew At 20

These are my most honest, common sense lessons that everyone needs to learn at some point or another that will not only help make you more money, but also just become a better, more well rounded person - Enjoy! Add me on Instagram: GPStephan

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First - The WORST thing in your 20’s is living above your means.
From my perspective, if you want to set yourself up for the rest of your life, financially…your 20s are the absolute BEST time to live below your means, delay gratification, and save religiously. Not to mention, practically…no one expects you to live lavishly in your 20s, anyway. You can easily get away living with room mates, driving an old car, wearing sweatpants every day, and not eating out because MOST people do that in their 20’s, anyway. So embrace it - and lean into that stereotype because you can only get away with that for so long before it starts being less socially acceptable.

If you don’t have any credit whatsoever right now, just go and sign up for a discover it secured credit card with a $300 limit, put a few minor expenses on the card every few months, and pay it off in full. Seriously, building your credit is actually THAT easy. It’ll take you MAYBE 2 minutes PER MONTH to do this, and as long as you slowly add more no-annual fee credit cards into the mix every 6-8 months and pay your bill in full and on time, you can EASILY get a PERFECT credit in 2-3 years for $0 out of pocket.

Third - Don’t want for things to happen
Here’s what you need to know: Nothing will happen if you don’t take the initiative to MAKE IT HAPPEN. And this is a shame because NO ONE IS TAUGHT HOW TO GO AFTER THEIR OWN GOALS…ON THEIR OWN…WITHOUT BEING TOLD WHAT TO DO. If there’s something you want - it’s up to you to make it happen. If you have a goal, you’ll need to actively work towards it. There’s no deadline, there’s no homework, there’s no test…it’s just YOU, for better or for worse. You need to learn to hold yourself accountable for everything you do, and ONLY YOU will keep yourself on track.

Fourth - Don’t play it too safe and take some risk
business, moving careers, because every new experience will come with knowledge you can use in the future. Not to mention, getting in the habit of putting yourself in uncomfortable situations NOW is going to make it SO MUCH EASIER to continue doing that in the future - and those are where your BEST opportunities usually are.

Fifth: No one has any idea what they’re doing
So, just take comfort knowing that you’re not alone if you’re still figuring things out, or if you’re disappointed you don’t feel like you have it all figured out - that feeling probably won’t go away, but once that you know everyone feels that way and it’s NORMAL - it gets easier.

Sixth: Don’t worry about things that haven’t happened yet
Instead - in your 20s - spend your time thinking about the MOST LIKELY SCENARIO, and think about how you work TOWARDS something - not how can you work AWAY from something. Mental energy is something that goes a LONG way - and if you’re wasting your time stressing about things that don’t matter, that’s less time that you can focus on what DOES matter and what WILL actually get you ahead.

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[AlexanderCrossman]

Graham makes me realize I wasted 9 months in the womb. Should have taken more risk and started investing!

[catwearingshades]

i have this as my wallpaper: “Be happy with what you have while you work for what you want”. Helps a lot every morning

[blablablaism]

Since this hasn’t been commented yet
1:43 Don’t live above your means
4:40 Not building up your credit score
7:10 don’t wait for things to happen
10:10 Don’t play it safe take more risk
12:10 No one has it all figured out
13:22 Don’t worry about nothing

[BazMar]

Summary:
1. Don't live above your means - The money you save in your 20s is worth exponentially more than the money you save in your 30s due to compound interest.
2. Build up your credit score - Get a credit card, spend some money with it, pay it off in full every month and increase your credit score.
3. Don't wait for things to happen - If there's something you want, make it happen. Even if you have no idea what you want to do, use this as a time to try new things and gain new experiences.
4. Take more risk - Put yourself in uncomfortable positions, try a new career, start a business. If you could do anything right now and you wouldn't fail at it, what would you do? You can do these things now while you don't have too many responsibilities.
5. No one has it all figured out - Most people are just winging it as they go along. You will always have some doubt about what your are doing, but everyone else has those doubts too.
6. Don't worry about nothing - If you spend your time thinking about things that are probably not going to happen, you will be taking that time away from other things which you could be working towards to better your life.

[philherb]

I’m looking forward to 10 years from now when you drop a video: “6 Billionaire habits I wish I knew in my 30’s”

[NickMosca]

#3 was so brutally on point. I know countless people in their 20s that need to hear this.
Lack of drive, direction, and initiative in your 20s has got to be the biggest factor of feeling regretful and depressed with you life in middle-age.

[financiallift]

It's going to be someone's birthday day who turned 20 today. They're going to feel like Graham made this video specifically for them!

[jakewagner]

This guy could do absolutely nothing on YouTube and just continue his spending habits and never have to work again. Yet he spends so many hours on videos to help us out. This dude is so wholesome and I appreciate it. Hope he reads this and if he does, thank you for your wonderful advice.

[roywaynesilva]

Smashed it like always, Graham. I’m 28 and make 80k a year in sales but thinking about going back to college for an engineering degree. Decisions.

[catrionarannoch]

I'm almost 40 and still learning actionable tips from these videos... how I wish content like this had been on my radar when I was in my 20s

[Real.Estate.Report]

The day I turned 21 my mind was on partying, vacations, and a new sound system for my car.

I was a mortgage loan officer at the time, and I am SO thankful that a bunch of my old coworkers practically held me down and FORCED me to set up my 401k, contributing 10% per paycheck, including the company match.

I’m 34 now and let’s just say that I am very, very happy that those dudes made me open up my 401k account at such a young age.

[mimifoote]

I’m sure this will get lost in the comments but I can say you have changed my life. MY LIFE. I’ve been watching you for probably a year I think of money differently. I am debt free, have a high yield savings and I’m saving for retirement. Not only that.. I am happier. I don’t “need” the things I used to? You Changed my mindset and provide active good information for free?! If people just listen and try.. make goals. They can change too. Thank you Graham! Much love -Mimi

[Jack-qbhs]

Watching this at 19. Point number three was much needed for me. Thank you, Graham!

[umairahmad]

18 years old and I’m here watching this !!! 💰💰💰💰

[aaronhall]

This is easily the most constructive youtube channel out there.. your only competition is the scientific education channels like Smarter every day and veritasium. Thanks for the content

[grumpywitcher]

20 yr old watching this : Wish I knew this when I was 10

[randomthomas]

I’m watching this at 17! I stated watching you when I was 15. I’ve loved every video! Thank you for being the free mentor

[MB-nbyq]

My favourite advice you gave is don’t wait on things to happen. It’s true, we have to push ourselves and better ourselves and be what we want to achieve.

[prophetosorojared]

It's taken me 19 years of adult life to hear this, as a Pastor from Africa(Kenya) I face an uphill task of educating my members and Africa in the knowledge and mentality of wealth.
Thanks Graham.

[BusinessBuzz]

Graham is literally the young “rich dad” and we’re all the “poor dads” in training😂