8 Ways Any Millennial Can Be a Millionaire in 5 Years

Hustle, thrift, and perseverance combined are a potent financial force.

You can be a millionaire in five years if you find a right business to work hard on. Bangkok Click Studio/Shutterstock

By John Boitnott

Millennials are hitting the workforce in large numbers each year, facing challenges as they do so. A research from USA Today reveals that millennials earn 20 percent less than their parents did at the same age, even once they have a college diploma in hand. This, combined with heavy college loan debt, has forced many graduates to give up on their fantasies of owning multimillion-dollar homes on every coast or driving a luxury automobile to the office each day.

But an overflowing bank account isn’t out of reach for every millennial. In fact, there are plenty of millennials who will take the same route Mark Zuckerberg and Snapchat’s Evan Spiegel took. Here are eight things millennials can do to have a shot at becoming multimillionaires in five years.

Start a Business

This option gives you the best odds of becoming a multimillionaire in the future, but success is obviously not guaranteed. A winning idea is, of course, a very important ingredient, but you should also know other things you’ll need to do to improve your odds of success. Above all, be prepared to put in years of hard work and overcome multiple obstacles before you achieve your dreams.

Find a Mentor

Some of the most successful people in business today will readily admit that outstanding mentors played a significant role in their career growth. Studies connect mentorships to a surprising number of success stories.