Self-Made Millionaire Gives Gen Z Advice On Building Wealth: 'Don't Try To Be 40 Before You Are 40'

Investing at a young age, especially in your 20s, can be one of the most intelligent decisions you make for your financial future. Starting early gives you a significant advantage over those who wait until later in life to begin investing.

By starting to invest early, you give your investments more time to grow, which can lead to significant returns over the long term. In addition, early investment can help you develop good financial habits. 

It can teach you the importance of saving and investing for the future and help you create a long-term financial plan. As you build your investment portfolio and grow your wealth, this can set you up for success.

By developing good financial habits and investing wisely and consistently over time, you can set yourself up for a financially secure future.

These are some of the thoughts shared by Ramit Sethi, who is a self-made millionaire and star of Netflix's "How to Get Rich."

Speaking with CNBC, Sethi said that his best advice for people in their 20s would be that when it comes to money, people should set up an automatic investment and a small recurring contribution can set you up for a bright future.

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"Though it can feel like the cards are stacked against you in your 20s — you're probably not earning as much as you will later on, you might be questioning your career choices, you're likely facing a mountain of student debt — the one thing you have on your side is time. Which is why it's so important to start investing as soon as possible," Sethi said. 

Talking about putting money in the stock market and portfolio management, Sethi said, "The stock market isn't always in the green. When recessions hit, your portfolio may be down for months or years. But historically, it has always bounced back. Investing early gives your money more time to recover from the dips."

"If you are in your 20s, you have an amazing opportunity, even if your earnings are not that high, to set up your habits right," he said. "As your earnings increase in your 30s and 40s, you can just increase that number."

"Don't try to be 40 before you are 40. Your 20s are about getting to know yourself, going out with friends, taking cheap trips — I think you should do that. There are certain things you can do in your 20s that you will never be able to do again, and I encourage you to embrace that," Sethi added. 

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This story is part of a new series of features on the subject of success, Benzinga Inspire.

Photo: Shutterstock and Jared Goralnick on flickr