There are 4 main paths to becoming a millionaire—and this is the easiest one, says money expert
Bugatti’s one-off La Voiture Noire supercar, which sold for nearly $19 million. Source: Bugatti
Unless you were born into a rich family, building wealth can be very hard — depending on the path you choose.
Many people look at multi-millionaires and desperately want to know: What’s their secret? How did they get there? What does it take ?
During my research, I found there are four predominant paths toward accumulating wealth. The “Savers-Investors” path is the easiest, while the other three involve much more risk.
1. The Saver-Investors path
Just less than 22% of the millionaires in my study chose to take the Saver-Investors path. Not only is it the easiest way to build wealth, but if you start early , it almost always guarantees a lot of money.
The Saver-Investors in my group reached their first $1 million around their mid-to-late 30s, and accumulated an average net worth of $3.3 million by their mid-50s.
They also had four things in common: