5 people reveal how they made a million dollars before turning 40 by Farnoosh Torabi on Jan 30, 2018, 10:46 AM Advertisement
 Some savvy Millennials are raking in the big bucks to the tune of $1 million or more (and no, it's not because they purchased Bitcoin in 2010). With their determination and out-of-the-box thinking, as well as harnessing the power of minimalism and making smart, dedicated moves in the market, these five young adults have earned more than many do in a lifetime. Here's how they did it. SEE ALSO: We've interviewed nearly 50 millionaires about how they invest their money — here are 5 strategies anyone can implement Melyssa Griffin: Reached $1 million by scaling up  I spoke to Melyssa Griffin on my podcast So Money a few months ago when she shared that she reached $1 million by age 27. It was largely thanks to building her online business where she sells courses, has a podcast, and more. It began 5 years ago with a singular, small blog that was mainly a creative outlet from her day job as an English teacher in Japan. Griffin, who now lives in Los Angeles, CA, became inspired to turn her blog into a business after watching "professional" bloggers make full-time salaries with their content. At first, she made money by leveraging her blog to launch a virtual graphic design studio on Etsy. She made digital prints for clients. However, she says, "Since my income was attached to my time, I always hit a ceiling with my earnings. I could only take on a few new clients each month and therefore couldn't really scale my business." So, in 2015, she stopped working with her graphic design clients and put all her energy into growing her blog and creating online courses. She boosted her blog traffic and grew her email list to over 75,000 people using Pinterest as a marketing vehicle. She got so good at using Pinterest she decided to create her first online course about how bloggers and online business owners can market their goods and services successfully on the search platform. It was a resounding success. She made $25,000 during the first month. By year three of her business, she had earned over $1 million in revenue.
Bryan Kuderna: Reached $1 million by living with mom & dad and investing early  Not only did Bryan Kuderna save $1 million by the age of 30, he spends his life helping others do the same. Based in Shrewsbury, NJ, Bryan works as a Certified Financial Planner, and he also shares his wisdom in his book, Millennial Millionaire. Kuderna says, "Making $1 million or any other numerical goal was never my ambition; it was just a byproduct of my daily processes." Bryan’s full time job is running his own business as a Certified Financial Planner. He started advising at age 21 in what he calls his "kitchen table financial planning" phase. Early on he was mainly doing house calls to meet with moms and dads at their kitchen tables to review their finances. His business has progressed now to working with high net-worth clients and hosting seminars and webinars. In addition to his client fees, Kuderna earns revenue through his seminars and speaking engagements. His savings strategies also contributed to a 7-figure bank account. Upon graduating from college, Kuderna started working and contributing to his 401(k) right away. He also lived at home with his parents until the age of 25, which allowed him to invest a majority of his income into the stock market and some real estate, as opposed to pay for living expenses. " All I really had was a car payment," he says.
Adam Fortuna: Reached $1 million by banking two windfalls  Not every millennial millionaire is self-employed or an entrepreneur. Adam Fortuna, who lives in Salt Lake City, UT, amassed 7-figures in his early thirties while working a 9-to-5 job. He also benefited from a couple of cash windfalls. The first cash infusion arrived at age 23 when his mother suddenly passed away. He sat on the money — a total of $100,000 — for a few months, as he went through his mother's belongings, trying to organize and manage the stuff she'd left behind. He was overwhelmed with the process and through it all became inspired to live a minimalist life. While he could have used that inheritance to purchase a home or buy a nice car, Fortuna decided to just bank it. Around that time his curiosity around building wealth heightened. He wanted to make the most of that $100,000 and began to consume personal finance and investing books and blogs. He came across a life-changing article that he says provided him the pathway to $1 million: The Shockingly Simple Math Behind Early Retirement. "This post made it clear the exact amount that I'd need to retire early. Having that number in mind, I could create a plan: If I save a set amount each year and invest it, I'll be there by age 40. Knowing that helped motivate me and keep me on track," says Fortuna. As he put his inheritance to work, Fortuna kept busy at his day job as a software developer. He increased his responsibilities and rose through the ranks, becoming a product director. This allowed him to earn additional company stock. Eventually his employer was acquired for $36 million and from that Fortunate lucked into another large windfall. He says the money was was "life-changing." He immediately reinvested his stock gains and estimates he's on his way to reaching $2 million before his 40th birthday. He shares his story on his blog, Minafi.
See the rest of the story at Business Insider
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