It may sound like a simple strategy, but the fact that the vast majority of Americans fall short of millionaire status proves that it's easier said than done. Spending more than you earn can put you in a dangerous hole of debt.
After graduating from college, Grant of Millennial Money moved back home with just $2.26 in his bank account. "That was a huge wake-up call for me," the now 31-year-old — who goes by his first name exclusively — told CNBC. He took a screenshot of his balance, set the goal of having $1 million in assets in five years, and immediately started educating himself. "As soon as I began this journey, I looked up the best reviewed personal finance books on Amazon," says Grant, who reached seven-figures exactly five years after taking the screenshot, thanks to a side hustle that he turned into a lucrative consulting company. Since, the Chicago-based self-made millionaire has read over 360 personal finance
Perhaps the best time to change up your career is when you're near its end. Close to one in five individuals aged 65 and over continues to punch the clock every day, according to the Pew Research Center. Meanwhile, more than half of Americans ages 50