In broader terms, the finance and investment profession has the most millionaires. It also has the most billionaires, with 371. ... Ramsey Solutions recently conducted the largest survey of millionaires top five careers for millionaires are:
Executive. Executive roles can range from CEO, CFO, CMO, CTO to COO. While these roles are different in nature, they all classify as billionaire jobs. Indeed, holding an executive position within a company is a step in the right direction when it comes to building your wealth.
But if you do want to be a young millionaire, it is possible. It will take a lot of hard work and sacrifice, but the rewards may be worth it for you. And even if you miss the goal of 25, I'd venture you'd be on a great track financially.
The stock market is one of the primary sources of income for the rich. Many wealthy individuals invest in stocks and bonds as a way to generate passive income. According to one of the largest studies of millionaires ever conducted, millionaires did not build a net worth of a million dollars or more through inheritance.
Roughly three out of 100 people in the U.S. are millionaires, but your chances of becoming a millionaire depend very much on your age, your race, and your education.
Sports, boating, and travel are also popular pastimes among the richest people in the world, according to Wealth-X. The hobbies of the richest billionaires are different from billionaires with net worths under $5 billion; billionaires worth $5 billion are more active in philanthropy, art, and aviation.
The average millionaire is 57 years old. As of 2013, 42% of millionaires are baby boomers (between 57 and 75 years of age), the majority of any age group. As of 2013, 19% of millionaires are millennials (between 18 and 31 years of age).
“Anyone can become a millionaire before the traditional retirement age of 65 by saving only $4,000 per year starting at age 20,” Zach writes. That averages out to around $333 per month, which is still a substantial sum for many, but doable if you get started early.
How long will it take me to save $1 million dollars?
The good news? The math is simple and it will only take a few seconds to figure out. Just take your desired millionaire age (when you want to have saved $1 million) and subtract your current age. So, if you want to reach $1 million at age 65 and you're currently 30, you have 35 years to save.
The truth is that you don't need to develop the next tech unicorn or be a celebrity to become a millionaire. In reality, most millionaires are regular people, not all of whom bring home six- and seven-figure salaries. With a bit of common sense and discipline, you, too, can become a millionaire on an average income.
How to become a millionaire in 15 years. To become a millionaire in 15 years, you'll need to put aside $34,101 per year for 15 years while earning an average return of 8%.
