Are You On Track to Becoming a Multi-Millionaire? (2026 Edition)
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What are the seven wealth-building milestones to track toward becoming a multi-millionaire?
Are you on track to become a multimillionaire? Let's find out.
Brian, I am so excited today because we're going to share the crucial checkpoints on the way to financial independence so that you can know exactly what to aim for and what to celebrate.
If you didn't know, I'm Brian, he's Beau, and we're financial advisors showing you the milestones to hit on the way to becoming a multimillionaire. And with that, let's jump right in.
So, Brent, over the years, we've come up with a lot of milestone markers that we want to share in order to help you guys stay on track with your financial wealth. Because we know that building towards financial independence is a marathon, not a sprint. But a lot of times, we don't want to just wait for that one finish line. We like to have small little markers, small little wins along our path to get there.
Yeah, I mean, like you said, our people are achievers. And what I like about this is that there's no timeframe. This is gonna hit certain people at different times. There's no right or wrong answer. But what I do like is that on this journey, as you said, a marathon, I think you can get overwhelmed if you're trying to figure out how do I reach this successful point. It is so, so important if you can add milestones so you kind of know right where you are or what you should be aspiring to next. And these milestones are going to help out.
And these milestones don't happen in a specific order. For you, they might happen in the order that we're going to share them. But for others, it may happen in a different order. And that is okay. So let's start, Brian, sort of what I think for most people, which is at the very beginning, and this one, it seems interesting, but it is a milestone that's worth celebrating that's actually reaching a $0 net worth.
Well, think about it. A lot of us come out with a lot of weight on top of us, whether it's student loan debt, or maybe you made some bad consumption decisions when you first got that credit card opportunity. So to reach zero is a big milestone to actually celebrate.
Yeah, there was actually a study from Credit Karma that found that as many as 31%, one out of three Americans have a net worth of zero or less. And if you're in the younger generation, it might actually be a little bit higher. Gen Z, 41% of Gen Zs have a negative net worth. And millennials, 38%. So almost 40% of millennials just getting to zero is an accomplishment in and of itself.
So why is it specific that younger people have a higher zero net worth? We want to get into actually what are the specifics. First of all, you just don't have a lot of assets.
Yeah, they're likely early on in their career. They don't have a lot of margin for investing. There's not a lot of money left over to actually be able to save. And in addition, they're young. They actually have not had a lot of time for what little they have invested to actually begin working for them just yet.
Now, I feel like our job when people, because yes, you don't have, you haven't had a lot of time for your assets to grow. You haven't had a lot of time to even start saving and building these assets. But I don't want you to get down because you need to recognize you are literally a billionaire of time. And for all those that are ahead of you, when you look at people in their 30s and 40s go, man, I wish I had what they had. I promise you, they're looking at you and saying, I wish I had the time that they had. And let us give you some illustration on this. If you started thinking about what you would have to save monthly to reach a million dollars, look at what a person who is 45 years of age, they would have to save and invest $1,800, greater than $1,800 a month to be a millionaire by the time they reach retirement at 65.
For the 30 year old, they would have to save $340 a month to reach millionaire status. But if you are in your twenties and you have just $95 a month, less than $100 a month will make you a millionaire.
The earlier you start, the easier it is, the more powerful your dollars can be.
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