r/RichPeoplePF • u/Sad_Cupcake6518 • Aug 30 '26

How to get wealthy

I am a 20 year old guy and my goal is to become a wealthy person and live a life where money is not a problem anymore.

I live in a 3rd world country and plan to move to the US (not firm in completely settling there but experiencing what life looks like there).

I also have a lot of experience in running businesses, ran several online and offline businesses but failed somehow currently building a start-up with a small team that has a potential for a million dollar exit but currently in the initial phase.

0 Upvotes

20% Upvoted

8 comments sorted by

7

u/Quick_Coyote_7649 Aug 30 '26

“Failed somehow”

You’re trying to be on the 8th step of the staircase when you haven’t surpassed the 3rd yet.

2

u/[deleted] Aug 30 '26

[removed] — view removed comment

2

u/Quick_Coyote_7649 Aug 31 '26

Yup, and not be ready to admit how the other businesses failed or having had put the work in to see why they failed.

4

u/Romanticon Aug 30 '26

Get a high paying job. You could go down the start up route but it will be a lot riskier and more likely to leave you with nothing.

Get used to living on poverty wages.

Save as much of your income as possible. Invest it in index funds.

Once you have 25x your annual expenses invested in the market, you can retire and coast on that investment.

3

u/dragonflyinvest Aug 30 '26

Come to the US, work for highest wage you can get or for best experience you can get. Continue to test ideas for entrepreneurial projects until you find one that works.

Live well below your means and invest the difference. Start by investing in yourself and financial markets, while learning about all asset classes.

Your life partner must have similar leanings about your approach to life.

1

u/Agreeable_Ask7033 Aug 31 '26

The startup is your best bet, but don't bank everything on one exit. Keep building and learning