John Csiszar

Tue, May 20, 2025, 8:04 AM4 min read

About 18% of Americans are millionaires, translating to roughly 25 million individuals, according to a report by Wealth Management USA. And while there are plenty of ways to accumulate a seven-digit net worth, there are some common avenues.

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Many millionaires start their own business or invest in real estate to earn their riches, while others imply inherit the money. But the number one way that Americans become millionaires is actually within reach of average workers, provided they start early and stick to their plan.

Here’s the “boring” path to riches that doesn’t involve starting a business, investing in real estate or inheriting the money.

Want the “easy” way to a million dollars? Continually invest on a regular basis. According to a report from Morningstar, investors who have $1 million or more in their Fidelity 401(k) accounts consistently invest, typically every two weeks or every month. They don’t trade in and out of aggressive investments, like leveraged ETFs, but instead simply sock away their money on a regular basis into their “boring” investments.

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There are a number of reasons why consistent investing is the “easy” path to $1 million. First, regularly adding money to your investments regardless of the market environment ensures that you’ll get an average price. You’ll be buying more stock when prices are low and less when prices are high. You won’t be putting all your money in either at the absolute bottom or at the peak — but since the long-term trend of the market is up, getting that “average” price provides a significant return.

Second, by consistently investing in “boring” options like mutual funds, 401(k) funds or high-quality stocks, you won’t be taking on excess risk. With automated contributions coming out of your paycheck or bank account, you won’t get tempted to chase the latest investment fad, a mistake that costs many novice investors their entire bankroll. As preservation of capital is half the battle when it comes to building wealth, automatically contributing to relatively “boring” investments can help protect your bankroll over the long run.

The third reason why consistent investing works is a simple one. If you continually add money to your account, you’ll have more money in it. If you simply invest $30,000 and watch it grow, you may end up with $60,000, $120,000 or even $240,000 in your account, depending on how long you keep it invested. But if you regularly add $1,000 per month to your account for 40 years, you’ll have contributed $480,000. A simple double of your money over time would be nearly enough to reach that $1 million level.