If you want to be young and wealthy, you’re going to have to work for it—just ask Jason Hartman, who built his own wealth at a young age by working hard and making smart financial choices. While it may seem like financial security is a long way off, you may be able to fast track your route to success with a little help.
Don’t let the fact that you work full-time discourage you—there’s still time for other means of income. A full-time job is actually the ideal place to begin building wealth—you will (hopefully) land a fulfilling career, paid vacations, job security, and income. So you’re in a great place to make the additional income that will allow you to travel, buy a vacation home, learn to sail.
Don’t Limit Yourself
While full-time jobs are excellent, there is no reason to limit yourself to doing that one thing. If you’ve always wanted to start a business, let it be your part time job. Don’t feel obligated to go all in for your business—you can do both! Though the number of people who work full-time and manage a side business is certainly in the minority, but it just might be for you. It requires a strong work ethic and a willingness to put in extra hours.
The great thing about income earned on the side is that it is generally bonus money. Your day job provides the income used to pay the bills, so your side income is typically to spend as you choose. These choices are limitless—from fancy vacations to continued investments, your money is yours to spend.
If you want to turn money into even more money, real estate might be the side income investment for you. It’s passive income that offers flexibility and control, something many other types of investments lack.
While some people choose to buy a house and fix it up and then manage the property themselves, this certainly isn’t required. You can buy a ready to rent house, outsource the property management, and rarely (if ever) even see the property. If you’ve got the money to put toward the purchase, you could be earning extra income in no time. It’s a great way to save for retirement and supplement your retirement when the time comes.
* Read more from Young Wealth
Income Property Maintenance for Less