Financial Hacks and Habits of the Top 1% of 20-Year-Olds!

February 6, 2023

In this highlight, we discuss the habits of the top 1% of people in their twenties. This highlight comes from our show, “Financial Hacks and Habits of the Top 1% (By Age).”


According to the latest data, to be considered part of the top 1% of people in their 20s, you need to have an income of at least $160,000 in 2023, and a median net worth of $577,000. This is a remarkable achievement and means that these individuals have figured out how to live on less than they make, have good deferral skills, and understand the value of time.

The early success of these individuals can be attributed to their ability to make sacrifices, understand the power of discipline, and use their money to work for them. By living on a low living expenses relative to their income and investing in assets that grow over time, these individuals have been able to build their wealth over time.

So, what are the hacks used by these successful individuals? Well, they have figured out ways to live on a lot less than they make, such as house hacking or living in a single room with several roommates. They have also been able to keep their living expenses low, despite having high incomes, by being disciplined and focused on their goals.

In conclusion, being part of the top 1% of people in their 20s is not easy, but it is possible with hard work, discipline, and a clear focus on your goals. The earlier you start, the more time you have for your money to work for you, and the more powerful it can be for you. So, don’t be discouraged, and keep pushing forward towards your financial goals.

If you want to know how powerful your dollar bills are, check out our free resource: Wealth Multiplier.



Most Recent Episodes

Financial Advisors React to Money Advice from ChatGPT

Will ChatGPT be your new financial advisor? In this react episode, we’ll break down some money advice from ChatGPT and compare it to our own thoughts and opinions. Enjoy the Show? Sign up for the Financial Order of Operation (FOO) Online Course! Sign up for our Know...

Financial Planning 101 (By Age) 2023 Edition

Throughout every decade, there are different areas of your financial life that come in and out of focus. In this episode, we'll discuss what you need to focus on by age, pitfalls to watch out for, and how to know you're doing it right. In this episode, you'll learn:...

Is the 2023 Housing Crash Around the Corner?

Housing prices skyrocketed after the pandemic to all-time highs, and mortgage rates have more than doubled since 2020. Homes are harder to purchase for more Americans, which means it’s more important than ever to make sure you are ready to buy before purchasing. In...

Watch This Before Rebalancing Your Investment Portfolio!

85% of Americans don’t rebalance their 401(k). Are they making a huge mistake? In this episode, we’ll discuss the “why” behind rebalancing, how to do it, and the data on whether or not rebalancing can increase your return. In this episode, you’ll learn: What...

Don’t Make This HUGE 401(k) Mistake!

Americans are making a HUGE mistake in their 401(k) that could cost them thousands by retirement. We’ll talk about why this is happening and how you can avoid making the same mistake in this Q&A episode! For more information on how to make the most out of every...

Alex Hormozi’s Top Money Advice! (Financial Advisors React)

In this episode, we react to Alex Hormozi's financial advice. Enjoy the Show? Sign up for the Financial Order of Operation (FOO) Online Course! Sign up for our Know Your Number Course! Check out our Net Worth Tool! Get FREE downloads full of financial advice from...

Everything You Need to Know About Finances in Your 20s

In this episode, we discuss everything you need to know about finances in your twenties. In this episode, you’ll learn: The top financial advice for your twenties How to start building wealth and the steps you should take Enjoy the Show? Sign up for the Financial...

The Most Valuable Asset in Building Wealth!

This episode will show you how to maximize the most valuable resource you have - starting right at this moment. What is it, you may ask? It’s TIME. If you give your money time to grow, you’ll be amazed at how much your dollars can become - it’s incredible! How wild is...