Jul 17, 2026
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The U.S. is a wealth-building powerhouse. In 2025, the country added nearly 1,200 new millionaires per day, on average*,* according to the Wall Street Journal.
Headlines are dominated by stories about entrepreneurs who sold their companies for seven- or eight-figures, lottery winners and young startups that turned into quick success stories.
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But the headlines don’t reflect the reality of what it takes to become a millionaire in this country. Data suggests that the path to the seven-figure club is actually a lot more mundane and time-consuming, while the destination isn’t as exclusive as it used to be.
Here are the top five things no one tells you about becoming a millionaire in America.
The path could be boring
It’s easy to assume that you can’t be wealthy unless you invest in an underrated startup or make a risky cryptocurrency bet. But in reality, most millionaires simply had high-paying careers and diligently invested money in their company’s 401(k) plans to get to their status, according to Ramsey Solutions. The survey found that the most common professions of millionaires was not “CEO” or “founder” but engineer, accountant, teacher, manager and attorney.
Simply put, focusing on your career and regularly investing is the most common path to the seven-figure club. And this is also why the journey takes longer than most people expect.
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It might take longer than you expect
Because saving, investing and the power of compounding are the most common elements for many ordinary millionaires, the journey could take several years if not decades.
Americans typically achieve this status in their 50s or 60s, according to Empower, which means most people should expect to be middle-aged or nearing retirement by the time they achieve this level of financial success.
There are, of course, overnight success stories and young millionaires, but that’s not the typical story.
Real estate could be pivotal
For many millionaires, the bulk of their fortune is tied up in their primary home.
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According to the latest UBS Wealth report, there are 23.6 million millionaires in the US, but according to Henley & Partners, there are only six million liquid millionaires who meet this threshold when their primary residence is excluded.
Simply put, becoming a homeowner could be a big part of your wealth-building journey. And you don’t need a massive pile of cash to get started. Platforms like Arrived can help you buy fractional shares of vacation homes and rental properties so that you can benefit from this asset class without the huge upfront costs.
Backed by world-class investors, including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.
To get started, simply browse through their selection of vetted properties, each picked for its potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100.
You probably won’t feel rich
Entering the seven-figure club was probably brag-worthy in the 70s or 80s, but in 2026, the label has clearly lost some of its exclusivity.
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Only roughly 36% of millionaires consider themselves to be “wealthy,” according to a 2025 Northwestern Mutual survey. With the rising cost of living and everyday essentials, coupled with the growing number of millionaires across the country, millionaire status isn’t elite, but it’s still an important indicator of financial well-being.
You’ll need professional help
The Northwestern Mutual’s 2025 Planning & Progress Study also found that millionaires were much more likely to lean on professional experts to manage their money.
About 74% of them said they worked with a financial advisor, compared to only 34% of the general population.
If you’re trying to reach this target, hiring an expert co-pilot early could be beneficial. Consider Advisor.com’s matchmaking engine to find the right candidate. Their network includes fiduciaries, who are legally required to act in your best interests.
Just enter a few details about your finances and goals and Advisor.com’s AI-powered matching tool will connect you with a qualified expert best suited for your needs based on your unique financial goals and preferences.
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Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
