There are over 23 million millionaires in the U.S. as of 2024, making up 40% of the global millionaire population. The number of millionaires in the U.S. is growing, adding around 379,000 new millionaires in a single year, according to Swiss bank USB’s 2025 Global Wealth Report.

Becoming a millionaire is achievable with the right habits. Start investing early for compound interest to work in your favor. Cutting expenses, negotiating better deals, and increasing income streams are key strategies millionaires use to grow their wealth.

Saving an emergency fund, avoiding unnecessary debt, and taking advantage of tax incentives for retirement accounts are crucial steps in building wealth. While hiring a financial advisor can help, long-term financial planning and consistent saving and investing are essential for reaching millionaire status.

Read more at Yahoo Finance: How common is it to have a 7-figure net worth?