Jan 7, 2026
It’s easy to assume that the only ways to become a millionaire is to launch a tech startup, win the lottery or inherit a fortune. But many millionaires accumulated their wealth in surprisingly mundane ways. In fact, many didn’t even have exceptional or unique careers.
A Ramsey Solutions 2024 national survey of millionaires found that the top five careers for these members of the seven-figure club were engineer, accountant, teacher, manager and attorney (1). Those are not niche professions.
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In fact, being a millionaire is relatively common these days. Nearly 1 in 5 households are in this exclusive club, according to a Bloomberg analysis of government data through to 2023 (2). Simply put, this target may be more attainable than you imagine.
Here’s a four-step process that can help you add extra commas to your net worth, even if you’re stuck in a mediocre nine-to-five job.
1. Negotiate higher pay
When you’re just getting started building wealth, every little bit helps. Even a small bump in your annual salary can make a big difference over the long term.
Unfortunately, 60% of workers did not ask for higher pay the last time they were hired, according to a 2023 survey by Pew Research (3). Among those that did try to negotiate, nearly two-thirds either received what they asked for or even more than they anticipated (only 35% failed to get more).
In other words, the odds are in your favor. Take the time to research market rates for your job profile, collect evidence that supports your outperformance and approach your employer with a robust pitch.
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2. Switch jobs
You don’t need to start a completely different career to earn more money. Simply finding a similar position with another employer is likely to lead to a pay hike. According to the latest data from ADP, job-switchers saw an average annual salary increase of 6.3% in November, while job-stayers saw a bump of just 4.4% (4).
Switching jobs every few years could accelerate the growth of your salary over the long term. Keep an eye out for similar roles at other firms in your industry and reach out to recruiters occasionally to test the waters. Even if you don’t plan to leave your employer, having another offer could give you enough leverage to negotiate better pay.
3. Side hustle
If you’ve ever considered a side hustle, you’re not alone. Roughly 38% of the American workforce (64 million workers) participated in some sort of freelance work in 2023, according to Upwork (5). A casual gig can help you boost your monthly earnings by applying many of the skills you’ve acquired at your day job.
According to Payoneer data cited by Upwork, the average freelancer’s rate in North America is $44 per hour. Depending on your expertise, experience, industry and availability, you could add a meaningful amount of money to your monthly income.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
4. Invest consistently
Once you’ve enhanced your monthly income, the next, and perhaps most important step is to invest this excess cash. And if you choose to invest passively, you don’t need to take away much time from your day job and side gigs.
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A simple, low-cost index fund, such as Vanguard’s S&P 500 ETF, which has delivered an attractive annual return of 14.82% since 2010, offers broad market exposure via a single investment (6). Even if you assume future returns are lower — say 10% — consistently investing excessing savings at this rate could get you into the seven-figure club within a reasonable amount of time.
Getting to a million
Putting the four-step process together should help anyone, regardless of income, accumulate some financial freedom over a reasonable time frame.
For example, let’s imagine Gemma, an accounting clerk, currently earns $45,000 a year. But by frequently negotiating pay hikes and switching employers, she manages to raise her salary by 5% every year. She consistently saves 10% of her salary to invest in a low-cost index fund that she assumes will compound at an annualized rate of 10%.
A few years into her career, she adds a side gig that helps her add another $2,000 a year to her savings.
Based on this strategy and these assumptions, Gemma is likely to become a millionaire in just 27 years. In other words, her path to extraordinary financial success was paved with simple and ordinary tactics.
If you think your job or industry is holding you back from achieving financial freedom, think again.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Ramsey Solutions (1); Bloomberg (2); Pew Research Center (3); ADP (4); Upwork (5); Vanguard (6)
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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.
