Skip to main content

Is it possible for you to make 10 million dollars at the age of 20

 few things. To get to 10million in 9 years you will need some of these things, or a combination of these things:

  • Inheritance
  • An incredibly well-paying job
  • Good investment returns
  • Your own business

The issue is 9 years isn't a long time to compound. So even if you are lucky enough to get a 2 million inheritance, you won’t get to 10million in 9 years, even if markets do incredibly well. Getting to 30 million in 40 years is easier.

An incredibly well paying job is hard in your 20s. Even if you are one of the few who makes partner and $1M in your 20s, you have got to spend some money and there is tax.

Your own business might be the only realistic way. Remember:

  • 90% of start ups fail
  • 5% just survive. The owner would probably be better off being a salaried employee.
  • 4% do well. The owner can get rich slowly.
  • 0.8% do exceptionally well. The owner gets very rich.
  • 0.1%-0.2% the owner gets super rich

So you will need to take huge risks.


Comments

Post a Comment

Popular posts from this blog

BUSOGA WILL FOREVER FEEL PROUD

Special dads, those who value life and family are very elated for the decission their king Gabula Nadiope IV to officially get married. it has taken 67 years since a royal wedding in the kingdom took place. officially Mutesi Jovia is the queen mother of our beloved kingdom. I wont leave out the fact that we are very excited about this achievement that will empower Busoga families to grow holistically, culturally and economically. For societies to grow economically research asserts that the grassroot which is the family has to have a solid foundation. when the family has what it takes then communities will thrive in all developmental aspects. Our king saw it wise that if he sets an example to the new normal young adults then alot of misconceptions about marriage will be laid away. In fact we are going to realisethe importancese of being faithful and committed when in relationships. Thespecial dads team being spear headed by Timothy Waigolo is now in full gear toadvocate for
Post a Comment
Read more

Finally Mbarara University Students Who stayed in hostels receive food

Mbarara University students who failed to make it back to their homes finally get relief aid from UNSA - Uganda National Students Association. a week back student advocates raised their voices via media specifically TV West and other social plaforms seeking for attention towards the welfare of stranded students.  Special thanks to the current guild president of MUST Muhumuza Ryan and his team for securing aid to students.  When interacting with one of the students who were on the front line of fighting for the stranded university students welfare Musinguzi Newton , he had this to say "many students are vulnerable people who are unemployed and get survival from their guardians, so they should not be left out because they equally deserve  to share the cake the government is distributing to the rest of Ugandans". StaySafe Uganda By Timothy Waigolo
Post a Comment
Read more

Am proud to be a musoga

Am a musoga from Busoga. i have acquired 90% of my education in Busoga schools. Those asking your selves who are the basoga? The people from Busoga are the Abasoga and speak Lusoga.  The Basoga are hospitable and lively people, Yes we are caring and loving. we are hardworking and wise people. The busoga culture teaches us to embrace unity and togetherness and this keeps us so close to each other. We are literate and learnt people because Basoga parents know the value of education. Obusoga okwisaanya namaani ✊✊✊✊✊✊✊✊ By Waigolo Timothy MP - Kigulu North constituency come 2026.
Post a Comment
Read more