What's new

22yo turning 23 350k NW

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Live your best life.

Tired of paying for dead communities hosted by absent gurus who don't have time for you?

Imagine having a multi-millionaire mentor by your side EVERY. SINGLE. DAY. Since 2007, MJ DeMarco has been a cornerstone of Fastlane, actively contributing on over 99% of days—99.92% to be exact! With more than 39,000 game-changing posts, he's dedicated to helping entrepreneurs achieve their freedom. Join a thriving community of over 90,000 members and access a vast library of over 1,000,000 posts from entrepreneurs around the globe.

Join Today
Download Books
No Ads? Join Insiders
Forum membership removes this block.
1

123mass

New Contributor
- Member -
Read Fastlane!
Joined
Nov 24, 2024
Messages
17
Location
Canada
Rep Bank
$280
User Power: 88%
<div class="bbWrapper">Hey guys, might seem like an odd question / statement. Made solid 6 figures at 19. I’m turning 23 in 4 months and I can’t help but feel like I’m behind. I feel like I’m not earning much right now whilst working at a startup, and time is closing to create something really spectacular. My goal was to hit 5m at 30 and I was punching numbers but at this point I’m not even sure it’s fathomable..<br /> <br /> Not sure what I’m really looking for lol… anybody else been in the same situation? Any advice on reaching that 5m by 30?<br /> <br /> Is it just about making a lucky bet? Anybody north of 5M networth can shed some light? I’m assuming I should be focusing on a equity building play..<br /> <br /> Did I just get lucky?<br /> <br /> Is it always murky water until it’s clear or?</div>
 
Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
<div class="bbWrapper">Yeah man you just need to work harder and smarter. Act, assess, adjust. Work on your mental and physical health, too. I would recommend setting bigger goals, but if you just want the 5m at 30, simply work on your business systems, get to like 1m profit a year and sell it at 29</div>
 
<div class="bbWrapper">I’m nowhere near close to achieve it, but my goal is $10M before I turn 35, and I’m 30 at the moment.<br /> <br /> You have plenty of time to make more than $5M at 30. Building wealth isn’t a linear process. You can grind for 3 years, stay broke and become a millionaire in the next 2.<br /> <br /> My personal advice: use that capital to build your own business. Owning equity is the best way to get rich.</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 146108" data-quote="alex_lr" data-source="post: 1172214" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172214" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172214">alex_lr said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> I’m nowhere near close to achieve it, but my goal is $10M before I turn 35, and I’m 30 at the moment.<br /> <br /> You have plenty of time to make more than $5M at 30. Building wealth isn’t a linear process. You can grind for 3 years, stay broke and become a millionaire in the next 2.<br /> <br /> My personal advice: use that capital to build your own business. Owning equity is the best way to get rich. </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Do you just turn off your brain? Like how do you even approach that? I had one kinda small “exit” so I did assume value is gonna come from building more shit.. it’s always just what?<br /> <br /> And when does it end? It’s all I think about all I want.. when does it end lol?</div>
 
<div class="bbWrapper">Have you decided what type of business that will take you to 5m in this time frame?<br /> <br /> Do you have any equity in the startup you&#039;re currently working in?</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 27706" data-quote="Think180" data-source="post: 1172233" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172233" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172233">Think180 said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Have you decided what type of business that will take you to 5m in this time frame?<br /> <br /> Do you have any equity in the startup you&#039;re currently working in </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Yeah I have equity..<br /> <br /> My initial thought was info business because of the scale and the ability to ship a product on top of that… I kind of feel like it’s .. 1. Fast to scale 2. High margins 3. Owned audience 4. High leverage<br /> <br /> Obviously this is along side the startup (it raised about 5m between the seed and pre seed)</div>
 
Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
<div class="bbWrapper"><blockquote data-attributes="member: 147174" data-quote="123mass" data-source="post: 1172236" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172236" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172236">123mass said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Yeah I have equity..<br /> <br /> My initial thought was info business because of the scale and the ability to ship a product on top of that… I kind of feel like it’s .. 1. Fast to scale 2. High margins 3. Owned audience 4. High leverage<br /> <br /> Obviously this is along side the startup (it raised about 5m between the seed and pre seed) </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Info businesses are great but you have to have something they can&#039;t get from someone already established in your target market.<br /> <br /> What stopping you from reaching your financial goals with the startup?</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 147174" data-quote="123mass" data-source="post: 1172229" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172229" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172229">123mass said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Do you just turn off your brain? Like how do you even approach that? I had one kinda small “exit” so I did assume value is gonna come from building more shit.. it’s always just what?<br /> <br /> And when does it end? It’s all I think about all I want.. when does it end lol? </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>You have to be delusional and take for granted you’re going to make it. You become the process. When you get there in the end, chances are you won’t be able to stop and switch off.<br /> <br /> Don’t take it as a goal you set, achieve, and then forget. You have to be obsessed and make lots of sacrifices along the way. It’s something that will consume your whole life and become your new lifestyle. <br /> <br /> You’re in a privileged position compared to anyone else, so stay the course and you’ll be fine.</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 27706" data-quote="Think180" data-source="post: 1172238" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172238" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172238">Think180 said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Info businesses are great but you have to have something they can&#039;t get from someone already established in your target market.<br /> <br /> What stopping you from reaching your financial goals with the startup? </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>I agree. But I think with content you can package the same product in a variety of different ways and there’s multiple different avenues especially if I have nothing right now there’s tons of room to pivot.<br /> <br /> Ad rev<br /> Email lists<br /> Digital products<br /> Etc<br /> <br /> The startup just is a riskier bet</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 110221" data-quote="savefox" data-source="post: 1172208" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172208" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172208">savefox said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Yeah man you just need to work harder and smarter. Act, assess, adjust. Work on your mental and physical health, too. I would recommend setting bigger goals, but if you just want the 5m at 30, simply work on your business systems, get to like 1m profit a year and sell it at 29 </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Just seeing this now, appreciate the response.<br /> <br /> I guess that is what it comes down to..<br /> <br /> Just out working everyone. Any thoughts on info products?</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 146108" data-quote="alex_lr" data-source="post: 1172242" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172242" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172242">alex_lr said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> You have to be delusional and take for granted you’re going to make it. You become the process. When you get there in the end, chances are you won’t be able to stop and switch off.<br /> <br /> Don’t take it as a goal you set, achieve, and then forget. You have to be obsessed and make lots of sacrifices along the way. It’s something that will consume your whole life and become your new lifestyle.<br /> <br /> You’re in a privileged position compared to anyone else, so stay the course and you’ll be fine. </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>I guess that’s what it is, is just being delusional and showing up everyday..</div>
 
Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
<div class="bbWrapper">$350K and you&#039;re not even 23? Congrats.<br /> <br /> How did you amass a NW so young? Why not double- and triple-down on whatever you did to get to 350K?</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 1" data-quote="MJ DeMarco" data-source="post: 1172312" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172312" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172312">MJ DeMarco said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> $350K and you&#039;re not even 23? Congrats.<br /> <br /> How did you amass a NW so young? Why not double- and triple-down on whatever you did to get to 350K? </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>I had a mini “exit” at an incredibly niche and time bound thing in marketing… taxes F*cked me over a little so left me with 350k USD. Market is completely saturated now.<br /> <br /> In relatively, I should have double downed at 19. But was super overwhelmed so it kind of passed me by tbh. That’s kind of why I’m overwhelmed, I’m not sure what direction to go..</div>
 
<div class="bbWrapper">If you have a NW of $350k at 22-23 years old. You are doing excellent compared to most and you should not feel behind. Instead be proud of where you are currently in life and continue to look forward on working your plan. <br /> <br /> Many people in my circle are not there at all. With that NW I see that as an achievement. Good job.</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 147174" data-quote="123mass" data-source="post: 1172202" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172202" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172202">123mass said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Hey guys, might seem like an odd question / statement. Made solid 6 figures at 19. I’m turning 23 in 4 months and I can’t help but feel like I’m behind. I feel like I’m not earning much right now whilst working at a startup, and time is closing to create something really spectacular. My goal was to hit 5m at 30 and I was punching numbers but at this point I’m not even sure it’s fathomable..<br /> <br /> Not sure what I’m really looking for lol… anybody else been in the same situation? Any advice on reaching that 5m by 30?<br /> <br /> Is it just about making a lucky bet? Anybody north of 5M networth can shed some light? I’m assuming I should be focusing on a equity building play..<br /> <br /> Did I just get lucky?<br /> <br /> Is it always murky water until it’s clear or? </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Congrats for your great start！</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 96450" data-quote="ZackerySprague" data-source="post: 1172319" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172319" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172319">ZackerySprague said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> If you have a NW of $350k at 22-23 years old. You are doing excellent compared to most and you should not feel behind. Instead be proud of where you are currently in life and continue to look forward on working your plan.<br /> <br /> Many people in my circle are not there at all. With that NW I see that as an achievement. Good job. </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Thanks, I guess it is about practicing gratitude… but I’m still not there where I feel like I can breathe.. maybe that just comes down to being born a builder but not building</div>
 
Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
<div class="bbWrapper">I&#039;d say, don&#039;t seek so much external answers. It leads to FOMO and jumping on whatever is the hot industry, like AI, crypto etc. <br /> <br /> More look to your own strengths, talents and interests. You can build something big on top of your strengths. It&#039;s the best long-term strategy. I don&#039;t mean &quot;your passion&quot;, but more your &quot;unfair advantage&quot; if you have any.<br /> <br /> If you don&#039;t have any strengths, you can get good at identifying and hiring talent. Or training average people to become good. Or giving people tools / systems to be able to perform at a high level for your business with little training or skill!</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 48612" data-quote="Jobless" data-source="post: 1172353" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172353" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172353">Jobless said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> I&#039;d say, don&#039;t seek so much external answers. It leads to FOMO and jumping on whatever is the hot industry, like AI, crypto etc.<br /> <br /> More look to your own strengths, talents and interests. You can build something big on top of your strengths. It&#039;s the best long-term strategy. I don&#039;t mean &quot;your passion&quot;, but more your &quot;unfair advantage&quot; if you have any.<br /> <br /> If you don&#039;t have any strengths, you can get good at identifying and hiring talent. Or training average people to become good. Or giving people tools / systems to be able to perform at a high level for your business with little training or skill! </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>I think this is a great point to be honest…<br /> <br /> My unfair advantage is identifying trends tbh.. but obviously that comes with jumping on hot shit</div>
 
<div class="bbWrapper"><blockquote data-attributes="member: 147174" data-quote="123mass" data-source="post: 1172356" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1172356" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1172356">123mass said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> My unfair advantage is identifying trends tbh.. but obviously that comes with jumping on hot shit </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>If you can predict them, then build a business around that. Start investing in companies that will benefit from upcoming trends. Make a company that helps to launch / market new ideas according to trend waves. Create an import / export business, so you are ready to take advantage of trend shifts locally and globally by moving goods. Gather data about upcoming trends and sell reports as a consultancy.<br /> <br /> Figure out a way to make it a consistent process.<br /> <br /> If your strength is you think &quot;I can identify the next crypto meme trend&quot; or something, yea... maybe don&#039;t jump on that shit. Sometimes you get lucky.</div>
 
You must log in or register to reply here.

Navigation Shortcuts

Welcome to an Entrepreneurial Revolution

The Fastlane Forum empowers you to break free from conventional thinking to achieve financial freedom through UNSCRIPTED® Entrepreneurship where relative value and problem-solving are executed at scale. Living Unscripted® isn’t just a business strategy—it’s a way of life.

Follow MJ DeMarco

Fastlane Resources

Get The Books that Change Lives...

The Fastlane entrepreneurial strategy is based on the CENTS Framework® which is based on the three best-selling books by MJ DeMarco.

mj demarco books
Back
Top Bottom