The U.S. millionaire count has skyrocketed 15-fold since 1995, with a new wave of 40-something ‘everyday millionaires’ leading the charge. These self-made individuals, who often describe themselves as financially modest, are rewriting the rules of wealth accumulation through disciplined saving, market access, and long-term investments.
Who Are the Everyday Millionaires Driving U.S. Wealth Growth?
Meet Heidi Barley, a 41-year-old Florida resident who once relied on food stamps but now boasts a $1 million net worth. Her journey from a $34,000 annual salary to financial security epitomizes the new class of millionaires. According to the 2025 UBS Global Wealth Report, the U.S. now has 23.8 million adults with a net worth of $1 million or more. Key factors behind this surge include:
- The ‘Great Wealth Transfer’ from older generations
- Rising home values
- Democratization of stock market access through low-fee index funds
How Market Access Transformed Wealth Building for Average Americans
The stories of these 40-something millionaires reveal common patterns:
| Trait | Percentage |
|---|---|
| Homeownership | 92% |
| Stock market participation | 88% |
| Frugal spending habits | 76% |
Jim Wang, a software engineer and finance blogger, attributes his success to immigrant frugality and consistent investing rather than high earnings. ‘It’s about the marathon, not the sprint,’ he says.
The Reality of Financial Independence in Today’s Economy
While the millionaire count grows, wealth inequality remains stark:
- Top 10% hold two-thirds of household wealth ($8.1M average)
- Bottom 50% possess just 3% ($60,000 average)
Jason Breck, 48, retired early through the FIRE movement by saving 70% of his $60,000 salary. His story shows how financial independence is achievable through extreme budgeting and market resilience.
FAQs About the U.S. Millionaire Count Growth
Q: How many millionaires are in the U.S. today?
A: 23.8 million adults have a net worth of $1 million or more, per 2025 UBS data.
Q: What’s the main driver behind this wealth growth?
A: Market access through low-fee index funds, rising home values, and generational wealth transfer.
Q: Do these millionaires feel wealthy?
A: Most describe themselves as financially secure but not opulent, with $1 million buying less than in 1995 due to inflation.
Q: Can average earners achieve millionaire status?
A: Yes, through disciplined saving (50-70% of income), long-term investing, and frugal living.
