The 5 Habits All Millionaires Share — Backed by Federal Reserve Data

Everyone online has advice on how to become a millionaire — but very little of it is backed by real data. In this video, we go straight to the source: the Federal Reserve’s Survey of Consumer Finances (SCF), the most detailed dataset on U.S. household wealth, income, assets, and debt.

Using Federal Reserve data, we break down the five habits real-world millionaires actually share — including savings rates, investing behavior, use of tax-advantaged accounts, housing decisions, and how long it really takes to build wealth. This analysis looks at median households, not outliers, and examines millionaire net worth with and without home equity to avoid misleading conclusions.

You’ll see why most millionaires are built later in life, why consistency matters more than income, and why “boring” financial habits quietly outperform flashy strategies over decades.

If you’re interested in wealth building, investing, retirement planning, personal finance, and data-driven financial decisions, this video shows what the numbers actually say — and what they don’t.

00:00 Intro — The 5 Daily Habits That Quietly Create Millionaires
02:01 Habit #1: They Save Aggressively (Consistency Beats Perfection)
05:55 Habit #2: They Invest Early and Continuously (Every Dollar Has a Job)
08:55 Habit #3: They Maximize Tax-Advantaged Accounts (401(k), IRA, HSA Strategy)
11:42 Habit #4: They Control the Big Expenses (Housing, Cars, Lifestyle Inflation)
14:22 Habit #5: They Stay Invested for Decades (Time in the Market Wins)
17:18 Bonus: What Millionaires Do NOT Have in Common
17:30 Myth #1: Millionaires Don’t All Earn Ultra-High Incomes
17:42 Myth #2: Millionaires Don’t Have Perfect Market Timing
17:55 Myth #3: Millionaires Don’t Use Exotic or Risky Investments
18:07 Myth #4: Millionaires Didn’t Start With Financial Advisors
19:18 Bloopers

Sources:
Federal Reserve Survey of Consumer Finances: https://www.federalreserve.gov/econre...

Fidelity, Pre-Tax, After-Tax and Taxable Growth: https://www.fidelity.com/learning-cen...


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Disclaimer: Please note that this video is made for entertainment purposes only and not to be taken as financial advice. Always make sure to do your own research.

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