How to Become a Millionaire and Retire Young

Here are a few helpful strategies for you to consider if you'd like to retire at a young age as a millionaire.

A worker polishes gold bullion bars at the ABC Refinery in Sydney on Aug. 5, 2020. David Gray/AFP via Getty Images

By John Rampton

Are you doubtful that you could ever be a millionaire? You may want to reconsider.

If you’re diligent with your savings, manage your spending, and stick with it for some time, even someone with modest earnings can become a millionaire. In fact, the 2021 Global Wealth Report from the Credit Suisse Research Institute found that the number of millionaires in the U.S. has reached nearly 22 million. Likewise, the number of the richest of the rich has increased by 24 percent.