While headlines in 2024 were filled with talk of inflation, tech disruptions and global uncertainty, a quieter trend was unfolding: every single day, about 1,000 Americans crossed the threshold into millionaire status, according to UBS’ 2025 Global Wealth Report.
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That’s not just a lucky few — it’s a sign of something bigger happening beneath the surface. So what’s fueling this rise in personal wealth? It turns out, three key assets are playing a major role.
Real Estate Builds Steady Wealth
Angelo Crocco, certified public accountant (CPA), chartered global management accountant (CGMA) and owner of AC Accounting, said one of the most overlooked paths to millionaire status is also one of the most traditional: Owning a home.
“Home values rose fast over the past few years, and that helped many families quietly build significant wealth,” Crocco explained. “When you buy a home with a mortgage, your equity grows on the whole property value, not just what you paid upfront.”
That means even a modest down payment can unlock long-term gains — especially in hot markets where appreciation has been steady.
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Renting out part or all of the property can also generate additional income, helping owners pay down their mortgage faster or reinvest elsewhere.
“It’s not about flipping or buying and selling constantly,” Crocco added. “Most people didn’t get rich switching houses. They simply stayed put, paid their mortgage and let the value of their home grow over time.”
It’s a slow and steady strategy — but one that consistently turns everyday homeowners into long-term millionaires.
Stocks Grow Through Patience
According to Crocco, stock prices climbed, especially in tech and energy, boosting savings accounts and investments.
“The people who gained the most didn’t trade often,” he said.
They held broad index funds or dividend stocks. Crocco suggested his client add $500 a month to an S&P 500 fund and watch it grow into six figures.
“Staying invested mattered more than timing the market,” the CPA added.
401(k) Plans Make Saving Automatic
Employer-sponsored retirement plans may not make headlines, but they’ve quietly turned countless regular workers into millionaires, according to Crocco.
“It’s not flashy, but it works,” he said. “I’ve seen people with very average incomes build seven-figure retirement accounts simply by contributing consistently to their 401(k) [plans].”
Automatic payroll deductions make saving effortless, and employer matches provide an instant return that boosts long-term growth. Many workers don’t realize just how powerful those steady deposits can become — especially during strong market years.
“I even know people who were earning modest salaries but kept contributing every month, year after year,” Crocco explained. “At first, growth feels slow — then it suddenly compounds. That’s when you look up and realize you’ve built real wealth.”
By staying invested and avoiding emotional decisions during market dips, disciplined savers reaped the rewards of long-term growth. It’s a reminder that time, consistency and automation can turn even small contributions into serious money.
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This article originally appeared on GOBankingRates.com: 1,000 Americans Became Millionaires Every Day in 2024: 3 Assets That Are Driving Their Wealth
