‘Your Rich BFF’ Vivian Tu: 5 Secrets To Becoming a Self-Made Millionaire

Happy young woman sitting at her desk working and answering a phone call.
Jacob Lund / Shutterstock.com

In a world where becoming a millionaire seems to be reserved for the older generation, Vivian Tu, also known as “Your Rich BFF,” breaks the mold. At just 27, she achieved what the average person does by 57. While there’s no magical route to riches, Tu shares five secrets that can help you reach millionaire status.

1. You Can Only Save as Much as You Earn

The misconception surrounding the affluent is that they’re miserly with their spending. In reality, the emphasis lies not in limiting expenses but in increasing earnings. Rather than dwelling on the cost of a cup of Starbucks coffee, focus on advancing your career.

According to Tu, roughly 39% of self-made millionaires achieve their wealth while being employed by others. So, excel in your job and leverage that position for promotions or raises. “Performing well at your job is an important part of getting to millionaire status,” said Tu during a video post.

2. Labor vs. Growth: The Art of Scalability

The average individual exchanges time for money. However, with only 24 hours in a day, this approach has its limits. Millionaires, on the other hand, capitalize on scalability. They invest, allowing their money to work tirelessly for them, bringing in passive income. Instead of solely relying on a paycheck, they use their earnings to create more wealth.

Make Your Money Work Better for You

“If your [wealth] is dependent on your time and labor, you’re not going to have much time or energy for anything else,” said Tu in her video. “What’s the point of being rich if you can’t enjoy a nice vacation, make it in time for your kid’s soccer game, or have a nice meal out with friends and family? Instead, millionaires all invest. They do so because they know while they can only work so many hours in a day, their money can work for them non-stop.”

3. Exercise Discipline and Delay Gratification

Becoming a millionaire isn’t about superior intelligence or extraordinary skills. It’s about discipline. It’s the ability to delay immediate pleasures for future benefits. It’s about being able to invest early, letting your money work for you, and then reaping the rewards later in life. By striking a balance between enjoying the present and planning for the future, you set yourself up for long-term prosperity.

4. Embrace Change: The Power of Adaptability

Contrary to the cliché, the true strength of a millionaire isn’t in being unafraid of failure. It’s in their capacity to adapt and pivot when faced with adversity. Embracing change, acknowledging mistakes, and then swiftly course-correcting can save both time and money. Flexibility is a hallmark of many self-made millionaires.

5. Set Ambitious Goals With Concrete Plans

Every millionaire’s journey begins with a goal. But what differentiates dreamers from achievers is actionable planning. It’s about breaking down that ambitious target into smaller, achievable steps. Whether it’s a business scaling strategy or a career growth path, outlining a clear plan aligned with your goals is pivotal.

Make Your Money Work Better for You

Reaching Millionaire Status

Becoming a millionaire is less about luck and more about strategy. While external factors can play a role, understanding yourself and mastering the game of money is the key. Adopting this strategic approach and maximizing these five secrets can accelerate your path to financial success.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

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