Report focuses on the investing habits of young tech millionaires.
If it seems like today’s entrepreneurs are getting younger, it’s probably because they are, at least in the tech industry.
Take Mike Zhang, who was recently profiled by CNN Money. Zhang could barely visit his favorite watering hole legally when he sold his first company, Airsoft Megastore, and became a millionaire.
However, while the new crop of entrepreneurs may be more concerned with online ventures than brick-and-mortar enterprises, all business owners looking to hold on to their money know one thing to be true: Diversification is key.
CNN Money spotlighted Bel Air Investment Advisors, which specializes in money management for young techies looking to put their millions to good use.
"They tend to [be] more hands-on, engaged and interested in details than our typical entrepreneur clients," Darrell Krasnoff, a managing director at Bel Air, told the news source. "They come to us with an engineer's approach, so we go deeper with the amount of information we give them. We show them more data, charts and graphics to show what's possible."
At the same time, these individuals are following the tried and true approach to investment that entrepreneurs have sworn by for decades: spreading risk through a variety of assets. These include everything from stocks and bonds to hedge funds and real estate.
And, like the best entrepreneurs, these young bucks don’t rest on their laurels following their first taste of success.
"These young, successful clients have a mentality that the world is their oyster, that they'll continue to succeed," Krasnoff said. "Very few sell their companies and retire. Most of the time, they're on to their next project almost immediately."
Read more about the investment habits of young, successful entrepreneurs here.