He might only be 19 but Nicholas G Muscat is already planning his retirement.

The teenager from Canberra is also about to start looking for his first investment property.

He says he has a $40,000 deposit ready - a slice of the $100,000 the young entrepreneur reckons he is worth.

And he believes becoming a millionaire is not far away.

Mr Muscat is a young follower of the FIRE movement - which stands for Financial Independence, Retire Early – and wants to help other Aussies do the same. (Supplied)

Mr Muscat is a young follower of the FIRE movement - which stands for Financial Independence, Retire Early – and wants to help other Aussies do the same.

“If I can achieve this, another person can achieve this,” he told nine.com.au.

“As a little kid I basically wanted to be able to do what I wanted, I didn’t want to work every day and not be happy.”

Mr Muscat, who is originally from Bowen Mountain in the Hawkesbury, NSW, said he has had no help from his parents, who are divorced.

His mum is a childcare worker, while his dad is a truck driver.

He started working in a fruit and veg shop aged 13 and later juggled jobs at local fast food restaurants with school work.

Nicholas G Muscat said he has had no help from his parents in gathering $40,000 for an investment property. (Supplied)

He saved most of the cash he earned and bought a computer when he was 14.

He started researching finance and how to make money online, and stumbled across the FIRE movement.

He decided he would follow its principals - of earning as much as he could and spending as little as possible, while investing for the future.

As a keen gamer, he then started reviewing products on YouTube, reaching out to businesses and striking deals for them to give him commission on future sales.

He soon started making money at home.

“The first month I set up I made a company $20,000,” he said. “I get 10 percent - so in that instance I got $2000.”

Nicholas G Muscat, 19, has set up his own website and YouTube page, to share his advice on making money from home. (Supplied)

After that, he set up online shops, selling “anything popular”.

He would identify products people wanted to buy using data from the Google Trends website.

That included shipping back braces from China to sell online.

He bought them for around $6 and sold them for a profit, at $18.

Then, when Mr Muscat turned 16, he sold all his gaming consoles, and shifted his focus to investing.

As well as investing his own money on the stock market, he has set up YouTube channel Aussie Money Man to share his experience on money matters.

Canberra teen Nicholas Muscat said he expects to become a millionaire before he's 30, mainly from making money from home and from blogging. (Supplied)

He says he gets up to 30 messages a day from people asking for advice.

He’s not a qualified financial advisor, and he often gets commission from companies via a system called affiliate marketing.

However, he says he only recommends products he really likes.

“I only reach out for a partnership for products that I love. I’d rather be honest and be respected in the long term,” he said.

“I’ll review finance software, investment structures, everything to do with money, banks, credit cards,” he said.

Mr Muscat also does what’s called Matched Betting, which involves using bookies’ incentives such as free bets, to make money.

The late Apple founder, Steve Jobs is an inspiration for the young tycoon. (AAP)

Money is made by betting on an outcome, and then betting against the same outcome - meaning gamblers win each time.

Then, similar bets are made using cash incentives handed out by bookmakers.

It’s legal, and gaming wins are untaxed.

He’s also penned his own eBooks which he sells online.

His various income streams pay for him to live, and save and invest.

“I recently made my first $1000 profit in a day. The majority was from matched betting, affiliate commissions, my investments,” he said.

SpaceX tycoon Elon Musk has inspired Me Muscat, who wants to make money to retire early. (AAP)

Mr Muscat, who says he admires late Apple founder Steve Jobs and space entrepreneur Elon Musk, has also written an online book on how to make money from market research surveys - another source of his income.

Meanwhile he lives a frugal life, as per the FIRE movement mantra.

Big in the USA, it sees followers save as much as half their income - and invest it well, with the aim of retiring in their 30s or 40s.

It originated in the 1990s, when books exploring the idea were first published. These days the movement is driven by bloggers, including the best known, Mr Money Moustache.

While he rents a room in a house share, Mr Muscat doesn’t eat out or buy many clothes and he drives a $900 car.

Nicholas G Muscat started working aged 13, and soon had three jobs. (Supplied)

If he does fancy a treat, he hires a Rolls-Royce from a friend to drive for a day, he says.

“I live off $450 a week including my rent. I’m about to move to Darlinghurst in Sydney so that will go up,” he told nine.com.au.

“I never eat out and I never have - that was so ingrained in me. When it comes to being frugal that was the way I was brought up.

“I might buy one nice outfit, once I bought a nice leather jacket.”

He estimates his lifestyle and financial know-how has helped him gather around $100,000 worth of cash and investments already.

“We can say six figures at least. I expect that very quickly to reach millions. If I don’t achieve it before I’m 21 I’ve done something wrong,” he told nine.com.au.

He is now planning to spend around $40,000 on a deposit for an investment property to rent out.

And while Mr Muscat hopes not to have to work past 30, he said he’ll always want to teach others how to follow him.

He also plans to take care of his parents.

“I sent my mum a text a few weeks ago - I said by the time I’ll 30 I’ll pay off (her house).”

Mr Muscat is a fan of fellow young tycoon, Jack Bloomfield.

The Brisbane teen created his first company when he was just 12 years old and has since become an e-commerce mentor and spokesperson.

Nicholas G Muscat in his early teens, when he discovered the FIRE movement- Financially Independent, Retire Early. (Supplied)

He has earned a million dollars from online-based businesses.

Mr Muscat’s tips for retiring early

- Spend less than you earn.

- Save to invest, don't save to save. To get started in investing research online - you don’t need a financial advisor to invest smaller amounts.

- Track your earnings and expenses.

- Learn how taxes work and how to minimise them.

- Surround yourself with people who are already where you want to be, or on their way.