In this video I go over the HIGHEST PROBABILITY way to become a millionaire in your 20s or 30s. I share my firsthand experience on the topic after having witness dozens of my friends achieve this goal in the years after graduating college by following these steps. This is the TRUTH on how to accomplish millionaire status in the most efficient and best risk adjusted way. I call this the highest EXPECTED VALUE way to become a millionaire in your 20s or 30s, and my answer might surprise you since it's not normally talked about.

There's a lot of information out there on YouTube on how to become a millionaire, but a lot of it is about establishing dozens of streams of passive income, starting a high-risk startup or business where the chances of success are low, or about investing your way to millionaire status over the course of decades. Although videos like Graham Stephan's "How to be a Millionaire in 10 Years (Starting from $0)" and "How To Become A Millionaire: Index Fund Investing For Beginners", Dave Ramsey's "How To Become A Millionaire - Dave Ramsey Rant", Andrei Jikh's "How To Become A Millionaire In ONE Year (My Plan)", and BiggerPockets' "How To Become A Millionaire Through Real Estate Investing (Newbies!)" all offer good advice and are entertaining, I've found that none of them address this topic the same way as I do in this video. The advice on these other channels is about saving money and investing over your lifetime but they don't address the "elephant in the room", which is that you need to increase your income.

The TRUTH is that if you want to become a millionaire in your 20s or 30s, the fastest, best risk-adjusted, and highest probability way is to increase your income is by landing a high paying job as a software engineer, investment banker, or management consultant. These careers pay enough in total compensation, made up of cash salary, stock and equity grants, and cash bonuses so that you can make substantial progress towards achieving millionaire status within a few years of graduating college.

Of course, you still need to save your money and invest it wisely after landing a job as a software engineer, investment banker, or management consultant but the first step is earning more. Compared to other professions out there, there is far less variability in total compensation in these professions, and if you simply go down the path: graduate with the required degree from the typical recruiting colleges and apply and land one of these jobs, you will be earning anywhere from $120,000 to $200,000 straight out of college. Within 3 to 5 years, you could be earning $180,000 to $300,000 in total compensation as a software engineer, investment banker, or management consultant; and after 5 years, you could well be on your way to earning $300,000 to $500,000 a year. If you're exceptional and find the right opportunity inside Google, Amazon, Facebook, Apple, Netflix, McKinsey, Boston Consulting Group (BCG), Bain & Company, Deloitte, PricewaterhouseCoopers, KPMG, JPMorgan Chase, Goldman Sachs, BofA Securities, Morgan Stanley, Citigroup, or Credit Suisse, you can make your way into senior management roles and make well over $1,000,000 a year in total compensation.

So while dividend investing, real estate investing, index fund investing, and great money management skills and discipline like budgeting and saving are important, your 401K or Roth IRA will not help you achieve your goal of becoming a millionaire in your 20s or 30s unless you are also earning high enough income. And the BEST way, least risky way, and highest probability way to achieve the income required to be a millionaire in life so early is to be a software engineer, investment banker, or management consultant. If you can stay the course and land yourself middle of the pack in these professions you will nearly be guaranteed to become a millionaire within 10 years of starting.

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Shout out to TechLead who shares some of this same information in his videos as well.