4 Steps Millennials Are Taking To Become Millionaires

Oct. 5, 2024 - GOBankingRates

However, 46% of millennials believe they will become millionaires in their lifetime, and many are taking active steps to achieve this goal. Here are a few of the strategies millennials are using to achieve millionaire status.

Saving for RetirementThe most common way millionaires are building their wealth is by saving in retirement accounts — 38% of millennials are using this strategy, the Arta Finance study found. Budgeting and Tracking ExpensesOver one-third (37%) of aspiring millionaire millennials said they stick to a budget and track their expenses.

Taking on a Side HustleAccording to the study, 30% of millennials said they have taken on a side hustle to improve their financial standing...