Becoming a millionaire is a goal that many people dream of achieving. However, the path to achieving that goal can be a long and challenging one. Many factors contribute to how long it takes to become a millionaire and Picodi.com did the research to see just how long it takes to make the big bucks in the US.
Picodi’s analysts calculated how many years of work are required to make 1 million dollars in different countries while earning an average wage. In all, 102 countries were included in the ranking.
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This ranking is done in years so we’ll provide the top 10 countries for becoming a millionaire and how long you can expect it to take:
- Switzerland (14 years, 3 months)
- Singapore (16 years, 11 months)
- Luxembourg (17 years, 4 months)
- United States (19 years, 10 months)
- Iceland (20 years, 11 months)
- Qatar (21 years, 3 months)
- UAE (23 years, 9 months)
- Australia (24 years, 3 months)
- Denmark (24 years, 6 months)
- Netherlands (24 years, 9 months)
While we know the US is an expensive country, it’s also known for working and overworking at that. According to the report, they obtained “the average monthly net wage data comes from Numbeo, where thousands of users worldwide monitor wages through monthly questionnaires.”
It’s important to note that income alone isn’t enough to become a millionaire. You also need to manage your expenses and invest your money wisely!
Keep in mind factors like expenses, investments, debt, all the joys of life. Basically, it depends on your individual circumstances but with hard work and budgeting, who knows, maybe you too could become a millionaire.
