8 Tips for Teens to Become Millionaires (in 2025)

If you’re a teenager in 2023, becoming a millionaire is simple. Yeah, right boomer, it might have been easy in your day. I never said it was easy, but it is simple. You just need to think a little differently from everyone else. I mean, most people use their phones as a distraction, endlessly scrolling TikTok, killing their brain cells, and becoming a slave to the system. This means that not only does using your phone correctly give you an advantage, it’s actually putting others at a disadvantage. Okay then, but how do I use it correctly? Well, in order to cash in, I’ve put together eight different tips so that you can spot opportunities while you’re young and use the tools that you have at your disposal.

Tip one: meditation. Only joking, I’m not going to make some boring video about meditation and journaling. Let’s be real, that’s not going to make you a millionaire. But what will is:

Tip 1: Embrace the Abundance of Money

Tip one: Realizing there’s so much fucking money out there. You have to really understand this, because if you don’t, the harsh reality is, you’re going nowhere. You’ll be one of those middle-aged people that never made it. You know the ones that blame everything on everyone for their misfortune. “Oh, it’s the government, oh, it’s the blooming recession”. You’ve got to face up to what’s going on. Instead of wasting your early years wrapped up in excuses. But that’s not you, and it certainly wasn’t me. Even as a teenager, I knew that money was everywhere. I would always see people with cash on their hip, nice cars, and luxury homes. Instead of being angry about what other people had, I understood that there was enough wealth out there for me. And instead of hating on the rich and wealthy, I decided to learn from them. Hanging out with my mentor, a guy called Dave Monk, got me involved in a lot of high-level conversations and seeing how the guys with money acted was so valuable. Believing there is so much money out there will really help you to focus on your goals and take responsibility for your own success. Just think, someone owns all of these buildings. And thinking like this can also allow you to celebrate the success of others and learn from their achievement, rather than feeling threatened by them.

You really don’t have to reinvent the wheel to get rich. All you need to do is position yourself somewhere money is flowing. Just think how crypto was a huge craze in 2021. And how many people made fortunes, not by investing in it, but by launching their own projects. They didn’t create the technology of crypto. However, they did notice the money pumping into the space and benefited from it. Sadly, most people don’t realize that there’s lots of money out there waiting to be claimed, and therefore will never spot these kinds of opportunities. Many even feel like they have to be really lucky or come up with a completely new business idea. In reality, it’s so much more simple than that. Successful people often just identify a business that has worked really well in the past and then add their own unique twist to it. Think Uber. I mean, taxis have been around for years. It took Uber just to make it easier and cheaper for everyone to use them. Everything stems back to the core belief that money is everywhere. And once you let go of the idea that money is scarce, everything changes.

Tip 2: Don’t Focus on Saving

Tip two: Don’t focus on saving. This is the opposite to what many of these online gurus will tell you, but honestly, most of them have made their money the slow way. Believe it or not, I’m actually the opposite. Even though I’m old and gray, I was a millionaire in my 20s. And I’ve lived a fantastic life and I haven’t deprived myself of much. I mean, in my life, I’ve traveled to almost every country on the planet, become a pilot, was a champion race car driver, competed for my country in world championships, and built multi-million dollar businesses. Have I been silly with my money? No, but I have used it strategically and had lots of fun along the way.

When online gurus talk about investing $50 per week from the age of 16 into the S&P 500 at an average return of 7% per year, leading to you having over a million dollars by the age of 65, I think they believe this actually excites people. Newsflash, it doesn’t. But what should excite you is the free stock worth between $3 and $1,000 that public.com are currently giving you once you sign up and fund your account. I’ll leave that link down below if you want to pick that up. Most people want to enjoy their money while they’re young, just like I did. Don’t get me wrong, of course it’s very important to start investing small amounts when you’re young and not leaving it until the last minute. But ideally, this should be money you don’t even notice leaving your bank account and not your lifelong plan to become a millionaire. Investing all of your baby money into the stock market or something you can’t control is the worst move that you can make. As it locks up all of your money for testing out side hustles and business ideas. Those are the real ways to make big money.

Now, having an emergency fund of six months’ living expenses does take the edge off. And it allows you to take calculated risks without worrying too much. So I’m not fully against saving, I’m just against hoarding cash as I’ve never known anyone to make a lot of money in their younger years when they take this approach. So the truth of this lies somewhere in the middle. Use both the fast and the slow lanes. Don’t be a prolific saver that denies themselves a Starbucks coffee if that’s what makes you happy. If you put savings over small things that make your life more enjoyable, then you are giving your money too much power over you. But equally, don’t go splashing your cash on pointless things and leave yourself with nothing to invest in your future. Pick what matters most to you and use your money strategically.

Tip 3: Quit Drinking

Tip three: Quit drinking. Look, I get it, when you’re young, drinking is almost a rite of passage. But if you follow what most people do, then you get what most people have: nothing. As a senior guy, I can tell you from experience, as you get older, you don’t have as much energy. Honestly, I’d give up all my money to have a young body again. It’s your greatest asset and if that doesn’t illustrate how valuable it is, then nothing will. I say this because most people waste years of their life drinking. This makes zero sense to me as alcohol is a depressant. Why numb your brain and your body when it’s at its peak performance? Personally, I’ve never been much of a drinker. I realized early on that having the balls to say no, gave people a lot more respect for me. And I found enjoyment in other much more productive hobbies like golf. I know a lot of people will say, they just want to have fun, and I get that. But first, fix the money issue. Get as much of it as you can, and then you can drink as much as you want. But you’ll probably find you still want to keep growing your wealth. Once you realize how much fun it is having money and the freedom it gives you, you’ll unlock a whole new level to life. Drinking is just an expensive way to distract yourself from the bigger picture. Whilst losing time, and on top of that, how can we forget the best part: feeling terrible the next day? What better way to hold you back from your dreams? Once I’d achieved my goals, I loosened the reins a little and had the odd cold beer now and then. But rarely do I have more than one or two. You see, no more than two, I’ll fall over.

Tip 4: Buy a Luxury Watch

Tip four: Buy a luxury watch. You might be thinking, why do I need a luxury watch in the 21st century when I can just check the time on my phone? I used to think the exact same thing. I’ve never been materialistic, which led me to overlooking watches, which now, knowing what I know, was a mistake. There are three main things a luxury watch can do for you.

• Firstly, it can spark conversations with other successful and wealthy individuals. This could lead to valuable networking opportunities and potential business partnerships. Another great way to chat with like-minded people is joining the free Strike It Big Discord group. I’ll leave a link in the description below.
• Secondly, many luxury watches are considered valuable assets that can appreciate over time. If you invest in a high-quality watch, it could potentially provide a solid return on investment. As with any investment, it’s important to do your research and choose a luxury watch that has a good chance of appreciating in value over time. As a general rule, steel Rolex watches reliably hold or appreciate in value. This includes, in particular, the GMT Master II with its famous two-colored bezel, the Cosmograph Daytona, and the ever-popular Submariner.
• Thirdly, they can be a great way to transport your wealth across borders. Now, technically, you do have to declare that you’re bringing these into a different country. However, I bet the majority of people don’t do this. If you entered another country with a wad of cash, then they’d probably ask you some questions. But I’m willing to bet that if you entered the same country with a million dollars’ worth of watches, they wouldn’t bat an eyelid.

Just be careful where you wear these watches, as they’re also very easy to steal. You have to learn to move in a different way. Don’t get cocky and think you’re untouchable, as someone is bound to pull up on a motorbike and take your watch from you. Trust me, luxury watches are not something to be overlooked. And even if the price goes down, you never really lose all of your money and the status is worth it, unlike Lambos. It’s also getting progressively harder to buy a nice watch at retail price. If I’d started investing in watches earlier, I’d be sitting on a whole lot of equity. So building a good relationship with an authorized dealer while you’re young is what future millionaires should be doing.

Tip 5: Destroy Your Ego

Tip five: Destroy your ego. There are so many arrogant people out there that think they know everything. They aren’t interested in learning, even when someone more successful than them is spelling out the correct way of doing things. I mean, I was watching Gordon Ramsay’s Kitchen Nightmares the other day, and these restaurant owners were in dire need of help. Their business was failing, and they called in Gordon to turn their luck around. He came into their restaurant and tried to do exactly that. But their egos were so big that they couldn’t take anything on board. It’s actually shocking how stubborn some people are. Of course, be proud of what you do. However, you need to be able to separate pride from your ego. Take some time to self-reflect. Really go into the depth of your weaknesses and form a strategic plan of how to improve them. There are thousands of YouTube videos where experts teach you what you need to know for free. For example, if communication is a weak spot, then there are videos on public speaking and storytelling that you can take full advantage of.

Now, learning high-value skills does more than just paying the bills. They compound into every aspect of your business and social life. I used to find what they taught in school to be boring and nonsensical. With my goals and vision, it just didn’t make sense for me to waste my time learning about algebra and other things. So I went out and bought my own books about business. I used all my free time to teach myself all the basics of how to start and run a company. I then combined everything I learned with my passion for RC models and started my own company, which went on to make millions and make me the man I am today.

Tip 6: Build a Credit Score

Tip six: Build a credit score. If you haven’t got a trust fund, then you’re going to need to leverage good debt in order to become a millionaire at a young age. And without a good credit score, that’s going to be nearly impossible. I was told when I was younger, this famous saying: “Never a borrower or a lender be,” which is completely wrong. I have a feeling this was made up by powerful people years ago to stop you leveraging your way to success. Borrowing money can be one of the best ways to elevate yourself past your born class status. But due to my fear of debt, I never really took advantage of it. This is a personal regret of mine, and I wish I’d borrowed more when I was younger. It really could have helped me leverage my wealth much faster. Now this isn’t for everyone and takes a strong, clear mind to manage, but can work extremely well if done correctly.

A credit score is basically a trust and reliability rating used by banks to judge the risk of lending you money. Think of it like this: if every time your mate lends you five bucks, and you give it back when or before you said you would, then there’s a much bigger chance that your mate’s going to lend you a hundred dollars if you ever needed it, because he can trust you. A good credit score is priceless. It will take years to build, but you can lose it in just one wrong move. By taking on debt responsibly and paying it off on time, you can build a positive credit history, which can open up more opportunities for credit in the future.

Now you might be thinking, “Where do I even begin?” Well, start small, of course. At a young age, you can’t just wander into a bank and start borrowing heaps of cash. But you may already be paying bills that will count towards your credit rating, such as a phone contract in your name. As soon as you turn 18, make sure to grab yourself a credit card. If that’s going to be a while, then you could become an authorized user on your parent’s credit card. Either route you take, remember these three simple rules:

1. First, make on-time payments. Paying your bills on time is the single most critical factor in building a good credit score. In short, don’t be late.
2. Second, keep your credit utilization low. Credit utilization is simply the amount of credit you’re using compared to the amount you have available. As a tip when starting out, stay below 30%. Essentially, don’t spend it all.
3. Third, don’t apply for too much credit. This can be interpreted as desperation and lower your score significantly. Remember, less is more.

If you follow these rules, then you’ll certainly be in a good position to start growing your wealth at a rapid rate.

Tip 7: Follow the Money

Tip seven: Follow the money. In life, doing what you love won’t always make you rich. While it’s important to pursue what you love and enjoy, it’s also essential to balance your passions with practicality. If you have a passion, but don’t think it will pay you, flip the script. A good example of someone doing exactly this is Rick Shiels, who we recently interviewed on our podcast Strike It Big. His ambition was to become a professional golfer on the PGA Tour. However, although he was very good in his youth, and, to be honest, he still is today, he knew he wouldn’t make the cut. Therefore, he flipped the script and combined his natural talent for golf with his passion for drama and technology. This led to him starting a YouTube channel coaching others. And now, he’s the most subscribed golfer in the entire world, earning millions per year.

Building on this, my son Curtis was passionate about making videos. He was making YouTube videos, but realized it wasn’t going to be successful. So he pivoted to making commercial films for nightclubs, weddings, advertisements, and anything in between. He’d take any job. Then he followed the money and niched down into the business coaching space as he enjoyed working with these clients, as those were the videos that made the most money. He’s now my business partner in this very channel you’re watching, and these videos wouldn’t be possible without him. So he’s involved in something he loves, making good money, but it’s not in the way he originally intended. Both examples here followed the money and flipped the script to work in their favor, and you can do this too. It’s crucial to learn skills that are in demand. Identify industries and professions that are thriving and have a future, and invest time and effort in learning the skills that can help you succeed in those areas.

Tip 8: Become a Quitter

Tip eight: Become a quitter. You need to get good at quitting or you’ll never succeed. Imagine you’re at a cinema and you’ve paid for your ticket. And you sit down to watch the movie. About 10 minutes in, you realize that it’s absolute rubbish. It’s so boring that a two-hour chat with your granddad about his childhood dog would be more stimulating. But instead of leaving and doing something else, you decide to stay and watch the whole thing because you feel like you’ve already paid and you don’t want to waste your money. This is an example of sunk cost fallacy. The money you paid for your ticket is already spent, and it can’t be refunded. So whether you stay for the whole movie or leave early, the money’s gone. It would be better to cut your losses and leave early if you’re not enjoying the movie, rather than sticking around and wasting more time and energy on something you don’t like, just because you feel like you’ve already invested. The same thing can happen in other areas of your life. Maybe you’ve invested a lot of time, money, or effort into a project that isn’t working out, but you keep going just because you feel like you’ve already put so much in. But just like the movie ticket, the resources you’ve already invested are a sunk cost. You can’t get them back. It’s better to cut your losses and move on to something else, rather than sticking around and wasting more resources on something that just isn’t working.

Let’s be honest, making your first million is never going to be easy. But it can be simple. If you’re young, use time to your advantage. I made millions while I was young and also built generational wealth by investing for the long term. Don’t listen to anyone that tells you that you have to pick one lane. You can do both at the same time.