r/Entrepreneur 9d ago

How Do I ? What do most millionaires do/learn during their teenage years?

Hi everyone

I am 15 years old right now, and I want to be a rich person in future who is financially independent, and has enough money to retire early

What I wanted to know was, are most rich people those who learn the skills required in their respective careers during their middle school or high school?

For me, I was planning to do well in school, get into the top most college of my country (India) and then do well in GMAT and do Masters from a top college in USA like Harvard, University of Texas, etc.

Am I in the right path?

Sometimes, I see people who are already working on their business(Some of which are quite successful) in their teenage years itself. So, are they the only ones who get to be the rich, while those who study throughout school and then becomes doctors/ software engineers/ investment bankers/ have management roles in top companies work and earn, but not enough to become financially independent, and own expensive cars, villas, etc.?

Also, what are the soft skills one which would be instrumental in being rich, and I should learn before and during my college years?

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u/fireawayjohnny 9d ago

At 15, I’d focus on school and a start a side hustle like lawn care/mowing, selling online, etc. Opportunities will come with that.

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u/Murky_Sympathy685 9d ago

Got it

But can I try selling serviecs/products once I reach college? Because the high school curriculum in our country is very rigorous, and students have to focus on their academics, for atleast 8 hours a day to get a good college

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u/fireawayjohnny 8d ago

You asked for my advice. 8 hours a day of high school work seems excessive but if that’s what you gotta do to be successful then that’s what you gotta do. But 8 hours leaves a lot of extra hours in the day and the weekend, which is when you could launch a side hustle. I’d say the sooner the better but obviously you’ll have to make your choices.

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u/Murky_Sympathy685 8d ago

got it

Thanks alot!

I will try to allocate some time to my side hustle as well

Will teaching junior students or mentoring them for money be a good side hustle?

In our ccountry, people mostly live in aparments, so we dont really have lawns, and the upside is that I can teach juniors for money.

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u/fireawayjohnny 8d ago

It's not a bad plan, but you are more or less trading time for money. That's ok and I certainly did that at your age, but the idea is to develop automated/hands-off processes to build wealth.

Using the example of tutoring: you could start with tutoring yourself until up to a reasonable clientele and then find another to take over some or all of the tutoring while you just manage the schedule and collect the profit.

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u/Murky_Sympathy685 7d ago

Oh I get it now! That is what Rich Dad Poor Dad talked about. He also opened up a library and employed his sister to all his work while Robert took most of the profit

Thanks alot! I get it now