It’s Not Glamorous, but This Is How Most Americans Actually Become Millionaires
It’s Not Glamorous, but This Is How Most Americans Actually Become Millionaires
John Csiszar Sat, August 9, 2025 GOBankingRates
You may be surprised to find out that 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, some avenues are more common than others.
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.
How To Prevent a Rocky Economy From Derailing Your Financial Goals
How To Prevent a Rocky Economy From Derailing Your Financial Goals
Cindy Lamothe Wed, August 6, 2025 GOBankingRates
When the economy starts acting up — think rising prices, stock market swings or constant chatter about a possible recession — it’s totally normal to feel anxious.
One survey by Equitable Holdings revealed that only 42% of Americans feel prepared to navigate shifting financial challenges, including potentially higher costs from tariffs, market volatility and lingering recession concerns. When those challenges hit, suddenly, the financial goals you’ve been working toward can feel like they’re slipping out of reach.
13 Ways To Save Money Right Now, According to George Kamel
13 Ways To Save Money Right Now, According to George Kamel
Ashley Donohoe Thu, August 7, 2025 GOBankingRates
A May 2025 McKinsey & Company survey found that inflation and tariffs topped the list of concerns for Americans, with 32% of respondents having changed their spending and another 31% planning to.
Whether you need to save money out of necessity or just want to progress more quickly toward a goal, you can do so without giving up the essentials or living an extremely frugal life.
Travel Experts: Don’t Keep Your Money in These 6 Places While Traveling
Travel Experts: Don’t Keep Your Money in These 6 Places While Traveling
Caitlyn Moorhead Mon, August 4, 2025 GOBankingRates
Though paper money has gone the way of the dodo in many respects, sometimes when you travel you just want some cold hard cash at hand to make life easier. While many people don’t carry cash at all, others have go-to methods of storing their money.
Whether you’re a frequent or casual traveler, it’s important to know where to keep your money so that it doesn’t get lost or stolen while you’re on your trip. Here are six places you should never keep your cash when traveling.
This Money Expert Says ‘Savers Are Losers’ — Is He Right? Experts Weigh In
This Money Expert Says ‘Savers Are Losers’ — Is He Right? Experts Weigh In
Dawn Allcot Tue, August 5, 2025 GOBankingRates
Robert Kiyosaki, finance expert and “Rich Dad, Poor Dad” author, has been known for straight talk about the economy. In a recent tweet, he said, “Savers are losers.”
He pointed out that the U.S. Federal Reserve’s way to avoid economic disaster is to print more money. He listed the 1987 market crash, the 1998 long-term capital management (LTCM) crash, the 2019 repo market seizure, the COVID-19 pandemic and the Silicon Valley Bank failure as examples.
“It’s not a new crisis….it’s the same crisis getting bigger,” he wrote. Then, he warned, “Stop saving FAKE $. Start saving real gold, silver, Bitcoin. Protect your wealth. America is the biggest debtor nation in history… because of the FED. The Biggest Crash in history is coming….soon.”
How To Save Thousands If You Want To Buy A Car
How To Save Thousands If You Want To Buy A Car
Moneywise Sun, August 3, 2025
US car market bankrupting Americans — and it’ll only get worse.
The U.S. car market faces a perfect storm that is rapidly engulfing ordinary car owners across the country. The clearest warning sign is the rising rate of auto loan borrowers who are falling behind on their monthly payments.
As of January this year, 6.6% of subprime auto borrowers were at least 60 days past due on their loans, according to a report by Fitch Ratings.
How Much Money Would Your Kid Have at Retirement If You Invested $5 a Month From Birth?
How Much Money Would Your Kid Have at Retirement If You Invested $5 a Month From Birth?
Peter Burns Sun, August 3, 2025 GOBankingRates
It’s obvious that those who start saving early end up with a lot more for retirement. But, what if you started saving for your kid from the moment they were born? Putting a small amount away each month, even as little as $5, would amount to $60 saved per year. By the time they reach full retirement age of 67 (for most), you will have $4,020 saved up. This number isn’t very impressive on its own, but if you take advantage of compound interest, you’ll be looking at a much higher number.
7 Valuable Lessons About Saving Money
7 Valuable Lessons About Saving Money
Sean Bryant GOBankingRates
Growing up with frugal parents, I was often the kid who was teased for having secondhand clothes, not going on vacations, and bringing generic-branded food to school. However, now that I am an adult, I am very thankful for the valuable lessons my parents taught me about saving.
It has shaped my views on money, spending, saving and finances in general. While many of my friends have struggled with debt or excessive consumerism, I have never had to face these issues.
4 Simple Money Habits From Mark Cuban That Could Transform Your Life
4 Simple Money Habits From Mark Cuban That Could Transform Your Life
Peter Burns Sat, July 26, 2025 GOBankingRates
For those trying to build wealth, Mark Cuban is a perfect example of how to get it done. From living in a shabby apartment with roommates to currently having a net worth of $6 billion, Cuban has made smart money moves that paid off big.
While some of the moves he made to get to where he is were complex, he used a lot of simple strategies as well. Here are four of Cuban’s most helpful money habits that can help you improve your finances.
3 Key Signs You’re Losing Money By Saving Too Much
3 Key Signs You’re Losing Money By Saving Too Much
Andrew Lisa Sat, July 26, 2025 GOBankingRates
Saving money is essential, but saving too much in a traditional savings account could be quietly costing you. If you’ve already maxed out your 401(k) contributions, built a robust emergency fund that exceeds the recommended three to six months of living expenses, and still have cash piling up, it might be time to rethink your strategy.
While it’s great to be financially cautious, over-saving can mean missing out on better returns and long-term growth. Not sure if you’re overdoing it? Here are three key signs that your savings account might be too full — and what you can do to make your money work harder for you.
What Every Millionaire Can Learn From Jimmy Buffett’s Mistake
$275M Inheritance Fight: What Every Millionaire Can Learn From Jimmy Buffett’s Mistake
Angela Mae Tue, July 22, 2025 GOBankingRates
Renowned singer-songwriter Jimmy Buffett died in September 2023, leaving behind a $275 million estate. The bulk of Buffett’s assets went into a marital trust with his widow, Jane Slagsvol, as the main beneficiary. Slagsvol is a co-trustee, along with Buffett’s long-time business manager, Richard Mozenter.
Unfortunately, there’s been a massive legal dispute between Mozenter and Slagsvol over that trust. Specifically, Slagsvol is petitioning to remove Mozenter as co-trustee for three primary reasons.