And you thought you’d never be a millionaire.

As seen in The Oakland Press

December 21st, 2025

And you thought you’d never

be a millionaire.

As the year winds down, I’d like to highlight a couple of interesting statistics. According to a recent report by UBS Global Wealth, the United States gained 379,000 new millionaires in 2025. That equates to more than 1,000 every day. Although some may have hit a home run with a speculative investment, I suspect most of them became millionaires quietly over time.

They established saving and investing goals and stuck with them every year. Through good times, bad times and periods of uncertainty. In other words, they kept their emotions at bay and remained consistent with their financial objectives throughout the years. I would also venture to say they lived within their means and avoided reckless spending.

There may be 1,000 new millionaires every day, but there are also 10,000 fellow citizens turning the age of 65 every day. I believe it’s an admirable and reasonable goal to have $1 million worth of investments by the time you reach 65. That’s a significant nest egg. But in this day and age of inflation and longer lifespans, many studies are saying a $1 million nest egg doesn’t assure a comfortable retirement.

I tip my hat to all those who have accumulated a million-dollar nest egg. But please be aware that being a millionaire in this economy doesn’t mean there won’t be financial issues during the retirement years.

Although many households are doing well, some are struggling to keep their heads above water. For them, accumulating $1 million was never on the “To do” list. But even if you don’t think it’s within reach, you still need to save something, and at minimum, never turn down free money.

If you work for a company that has a 401(k) program, it’s important that you participate, even if you’re struggling to make ends meet. Especially if you’re struggling. At a minimum, contribute enough to receive the full corporate match. This match is often referred to as free money. Most companies have time requirements attached to their matching programs. For example, at General Motors it takes three years to “vest” your free money. In other words, if you leave before completing three years of employment, you lose the match. So, there is a catch of sorts. But it’s still free money.

Although having a million-dollar nest egg is admirable, achieving one is not necessarily a finish line. Rather, it’s an important check point from which to measure progress toward a goal of true financial independence. Let’s call it a significant steppingstone along the road to total financial independence. If it feels like an unattainable objective, don’t give up. Instead, commit to disciplined saving and investing. Monitor your spending carefully and live within your means. Getting on track is better than simply ignoring reality.

From my experience working with many households that are indeed millionaires, they don’t always think in those terms. Most seem to view themselves as middle class. Hard workers who saved, invested and avoided living beyond their means.

Remember the old television show, “Who Wants to be a Millionaire?” Well, nearly 34 million people found it to be a reality in 2025. As we close out the year and prepare for 2026, I suggest you keep that thought in mind. Now that you know it can be done.