I built a net worth of over $100,000 by the time I graduated from college at 21. My goal was never to become fabulously wealthy and splurge on Ferraris. Instead, I wanted to be my own boss and live life on my own terms. Even as a kid, my desire for future freedom was more important than anything like the latest toys advertised on Saturday morning cartoons.
### Early Years
I grew up in the heartland of the United States, about 35 miles from the exact center. I always found it odd how people in America act like they enjoy freedom, yet most live in debt. But I figured out early that true freedom could be bought. It’s incredible to think you can literally purchase your freedom. When you’re financially independent, no one can control you.
I figured out that financial independence was my path before I was even 10. My dad would often surprise me with new chores on the farm, and each time, I’d feel a brief flash of anger. If I had thought of doing the task myself, I would have done it happily. Strange, right?
As I grew up, I got a lot of criticism for my goal of financial freedom. Adults thought I worked too much, and kids urged me to spend my money recklessly. My siblings often called me cheap. This kind of criticism is something many of us who pursue financial independence face early on.
### My First Stock at Age 10
I beat Warren Buffett by buying my first stock at age 10; he didn’t buy his until he was 11 and regretted waiting that long. However, I lost most of my money in my initial years of investing. I didn’t fully grasp the impact of the 9/11 attacks, but I watched my $2,000 drop to $1,000. Dishonest investors then shook my little portfolio again with insider trading. Despite these setbacks, I wasn’t deeply troubled. Even today, I invest most of my income in equities. Being an investor does require a bit of bravery.
### Finding a Mentor
At age 14, I found a mentor – a cool guy who had retired early from the Air Force and started three businesses. Inspired by him, I created a well-thought-out resume and reached out to him. You don’t get what you don’t ask for. He was frugal and a millionaire, clearly winning at life. He showed me the path to success, and this year, he even started his own brewing company.
### Working Hard
I worked a lot as a kid, sometimes juggling up to five jobs in a single day. My three criteria for a job were that it had to be fun, high-paying, and look good on my resume. These jobs were how I saved up money.
### From Candy Bars to Caviar
I knew I needed to earn money as soon as possible because I understood the power of compound interest. My parents would give each of us a dollar at sporting events, enough for a drink and candy bar in the ’90s. Most of the time, I pocketed that money. Compound interest meant I could either eat candy as a kid or afford caviar as an adult. Delayed gratification is what sets apart those who achieve financial independence from those who don’t. Although, to be honest, I’ve never had caviar and don’t really plan to because of its cost.
### Today
Now at 24, I blog to help others build wealth at a young age. I’ve realized that many of life’s financial milestones can be achieved relatively early in life. While I’m not completely financially independent yet, I’m getting there. I still want to travel a lot, so I wouldn’t say I’m free just yet.
Thanks for reading my story. If you’re young, I hope you find some useful tips here. If you’re older, maybe share this with your kids or younger friends so they can see their potential. It’s never too early to achieve financial independence.
-Will