7 Signs You’re on Track To Be a Millionaire, According to Rachel Cruze

Core Insights - Many individuals hold unrealistic beliefs about becoming millionaires, but expert Rachel Cruze emphasizes that wealth accumulation is a gradual process with common indicators being quite mundane Group 1: Wealth-Building Strategies - Consistent retirement investing is crucial, with a Charles Schwab survey indicating that 26% of U.S. investors prioritize retirement savings. Cruze advises funding 15% of income into retirement after clearing debts and establishing an emergency fund [2] - Paying off a home early enhances net worth and provides additional cash for investments. Cruze suggests making extra mortgage payments if already mortgaged or opting for a 15-year fixed-rate mortgage if renting [3][4] - Actively working to eliminate debt is essential, as 22% of Americans express dissatisfaction with their debt repayment pace. Reducing debt increases financial flexibility and allows for greater investment potential [5] Group 2: Mindset and Habits - Achieving millionaire status requires effort and consistency, with Cruze highlighting the importance of adapting to varying work demands without becoming a workaholic [6] - Intentional spending habits, such as using a shopping list, are common among millionaires, with only 15% of them not utilizing lists. This practice helps avoid unnecessary expenses and should be paired with a budget that includes wealth-building strategies [7]