These 5 subtle signs suggest you’re on track to becoming a multi-millionaire. How many apply to you?

Sign 1: High savings

If you’re consistently setting aside a portion of your income for savings or investments, you’re already ahead of the game. Prioritizing saving from an early age and harnessing the magic of compound interest can help you accumulate significant wealth later in life. “Sorry,” Yang concedes, “that means not paying extra for guacamole at Chipotle, as tempting as it might sound.”

Saving consistently, even in small amounts, is key. For example, saving $10,000 per year starting at age 30, and earning an 8% return in the market, you would amass about $1.1 million by age 60. If you can save $20,000 per year, you’ll hit that milestone by age 52.

One strategy for reaching this goal is automating your savings. Employer-sponsored 401(k) accounts can be fueled by automatic transfers from your paycheck that, over time, will become unnoticeable. Your money will quietly build and earn.

Invest in real estate without the headache of being a landlord

Imagine owning a portfolio of thousands of well-managed single family rentals or a collection of cutting-edge industrial warehouses. You can now gain access to a $1B portfolio of income-producing real estate assets designed to deliver long-term growth from the comforts of your couch.

The best part? You don’t have to be a millionaire and can start investing in minutes.

Learn More

Sign 2: You’re constantly seeking new income streams

Millionaires tend to have numerous and varied income streams, a study by the IRS revealed. These can include a salary, investment income, rental income, profits from side businesses etc.

If you’re actively looking for ways to diversify your income, you’re building a safety net to shield you from financial setbacks. For example, investment income from passive, dividend-paying stocks can provide a steady cash flow, even when you’re not working. Similarly, owning rental properties or generating income from an online business can add to your wealth.

Sign 3: You resist lifestyle inflation

Lifestyle inflation — the tendency to spend more as you earn more — is one of the biggest obstacles to wealth accumulation.

Many Americans increase their spending on luxury goods, dining out, and vacations as their income rises. However, in order to successfully accumulate wealth you must avoid this trap. Instead invest your extra income to widen the gap between earnings and expenses.

This is a classic trait explored in the book “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko. It examines the millionaires who live well below their means, avoiding splurges while accumulating wealth through disciplined saving.

Maximize Your Savings

Discover the best option for your financial future. Whether you’re looking for higher returns or easy access to your cash, compare the benefits of CDs and savings accounts to find the right fit for your goals.

Learn More

Sign 4: Your liquid net worth is growing

Your liquid net worth — the value of your assets that can be quickly converted to cash, such as savings accounts, stocks, and retirement funds — is another strong indicator of future millionaire status. Tracking and growing your liquid net worth ensures you’re not just accumulating wealth on paper. You’re also building real, accessible financial security.

Many people focus solely on illiquid assets like real estate or cars, which can be difficult to convert into cash during a financial emergency. To become a multi-millionaire, it’s crucial to have a growing liquid net worth that can provide both financial flexibility and opportunities for future investments.

Consider tracking your liquid net worth regularly, either through a spreadsheet or apps like Empower, Tiller, and Monarch.

Sign 5: You take action to maximize your financial situation

If you’re maxing out your retirement accounts, using tax shelters like Health Savings Accounts (HSAs)and tailoring investments to your goals, you’re nailing Yang’s final habit.

Individuals who consistently contribute to retirement accounts like 401(k)s or IRAs from a young age are far more likely to retire as millionaires. By maximizing your tax-advantaged accounts, you not only reduce your tax liability but also boost your long-term savings potential.