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This is the dream, the holy grail, for all young, aspiring millionaires and billionaires. Owning and then subsequently growing and selling a successful business is without a doubt the fastest way to earn spectacular wealth at a young age. This is how almost all the world's wealthiest young people made their money (excluding inherited wealth). However, actually becoming an entrepreneur requires balancing your massive earning potential with a huge amount of risk, lots of hard work, and the chance that even if you do it all right, you might still fail. Some of the pros of becoming an entrepreneur at a young age include unlimited earning potential, being your own boss, and, quite literally, the ability to change the world (think about how Zuckerberg's founding Facebook has changed your world). Also, as a young person, you bring new ways of thinking and tremendous energy that can give you an edge over older professionals. On the flip side, when becoming an entrepreneur you have to realize that 9 out of 10 businesses fail within five years. You're also likely too young to have any knowledge of the "little things" involved in running a business, like bookkeeping and taxation, leaving you to learn them quickly or sink trying. And, more than any other path, starting your own company will be incredibly hard work, combining a lack of direction with long hours and doubtful paychecks. For more, see how to become an entrepreneur. If you have a college degree in economics, finance, business, math, or a related field, or you will soon, and want to make as much money possible right now, work to become an investment banker. Investment banking salaries typically start at around $80,000 to $120,000 per year, with the average worker earning $112,000 right out of college. Investment banking jobs consistently top the rankings of highest-paying jobs for young people. One of the biggest pros of becoming an investment banker, in addition to the huge salary, is the massive amount of opportunities for advancement. Investment bankers can double or triple their salaries quickly by advancing within the company or outside to private equity and venture capital firms. Investment banking also comes with high competition among coworkers and very long hours. Don't jump into this career if you're not ready to work all night and weekends and fight for advancement every day. For more, see how to become an investment banker. If working with computers is more your thing, software developer jobs also boast a high starting salary. Like with investment banking, you'll need a college degree to get into this career, specifically in computer science, engineering, or math. As an entry-level developer, though, you stand to make $84,000 per year, on average, designing anything from business software to video games. Being a software developer will require a knack for coding and math, and may also require long hours and high expectations. You'll also have to stay up to date on the newest computer systems and coding languages. However, if you're good enough, earning potential just goes up and up at higher-end companies like Google and Facebook. For more, see how to become a software engineer and how to get a software development job. Engineering in this case is a blanket term that covers all sorts of engineering, from chemicals to aerospace. However, on average, an engineer with a relevant college degree can expect a salary of $72,000. Specifically, petroleum engineers can expect to make the most, with an average salary of $88,700. While engineering can be a great and well-paying career, it is very difficult to pass the rigorous training received in undergraduate and graduate school. This career is only for those with strong math and science abilities. For more, see how to become an engineer
Be an entrepreneur. Become an investment banker. Become a software developer. Become an engineer.