7 Proven Strategies to Become a Millionaire with Stocks

Becoming An Investment Millionaire Is Easier Than You Think

Can you become a millionaire from stocks? The answer is yes.

Thus, I’m going to share with you 7 steps to becoming a stock market millionaire.

Because when it comes to your money, it is important to have goals.  And I ask what better money goal to set than building wealth and becoming a millionaire?

As a result, I promise to show you how to become a millionaire investor by turning $15 into $1,000,000.

Most importantly, the earlier you get started with a millionaire investment program. The sooner you will become a millionaire with stocks

So let’s not delay.

7 Strategies To Become A Millionaire With Stocks

Can you become a millionaire from stocks? Yes. And I suggest these 7 strategies:

  1. Invest in yourself
  2. Save money
  3. Minimize taxes on investment gains
  4. Keep investment costs low
  5. Invest in stocks
  6. Choose the best stock investments
  7. Invest every month

These are some of the best money habits you can find. So, we will explore each one of these important millionaire investing topics next.

But just in case this is not quite what you are looking for. Then, you might enjoy this inspirational article about the habits of millionaires.

Otherwise, stick with me now. For a detailed review of each of the 7 strategies…

investment millionaire

Disclosure: At no cost to you, I may get commissions for purchases made through links in this post.

1. Millionaire Stock Investors Invest In Themselves First

millionaire investor

It takes money to make money.  So, you have to earn more than you spend.

Why?  The cash leftover at the end of the month gets invested.  This starts the wealth-building process of becoming an investment millionaire.

How do you earn more money?

By investing in yourself.  Improving your skills. And becoming more valuable to your business, your customers, or potential employers.

Here’s an example…

A Millionaire Who Knows How To Invest In Himself

I just had some work done on my house to save on energy costs.   I had new roof vents, an attic fan, and improved attic insulation installed.

The company that did the work specializes in attics.  Robert, the owner, was at my house several times as we decided on the scope of the work.

One day Robert and I were talking.  He said he was never interested in school.  And did not attend college.

So, he went into the home improvement business.  And he decided to specialize in attics.

He said he learned everything he could about attics.  He invested in himself and became an expert in that field.  Today, he has money and success running his business that can solve just about any attic problem you might have.

So, I say, be like Robert.

Understand what you can dominate to make a good living.  Find out what you are good at.  Then, put in the time and effort to be great at that skill.  Just like Robert, my attic guy.

Take advantage of every training opportunity you have access to.  What options does your employer offer?

Either on-the-job training. Or, more formal continuing education is beneficial.

It is possible to become a millionaire on a low income. But, it will take more time.

Before we move on to step 2, here’s another thought for you about investing in yourself from my past…

A Little More Millionaire Investing Advice From Another Friend

I will never forget the words of an executive recruiter I knew back in my younger days.  His name was Mark.

After I took a new job, I called to let Mark know I had come off the job market for the time being.

What did he say after he offered his congratulations?  I will never forget it.  He said, “learn as much as you can”.

The best thing about learning on the job is it has no out-of-pocket cost to you. 

It is one way to start investing in yourself with little money.  Most importantly, it begins your investing journey to become a millionaire.

So, get busy improving your resume today.

And, here is an option if you are looking to make some extra side money.

2. Becoming A Millionaire From Stocks First Means Saving Money

how millionaires invest

As I said, you want to earn more than you spend.  That simple equation creates excess cash for your millionaire investment strategy. It is a key pillar of wealth creation.

We just covered the earnings side.  So, if you want to know how to become a millionaire with stocks, we must talk about the spending side.

It is quite simple.  Millionaire investors spend less than they make.  Put another way, investing millionaires save money and pay themselves first.

Now, I will be the first to tell you that it’s difficult to scrimp and save.   But, living below your means every day is an essential element to becoming an investment millionaire.

Consider how you can reduce your costs and save money.

How Do Stock Market Millionaires Save Money?

Think about your spending on these 4 big-ticket items and look to cut your costs in these areas wherever it makes sense.

  1. Housing
  2. Transportation
  3. Food and Beverage
  4. Leisure activities

Sharpen your pencil and go through that budget with a fine-tooth comb.  When you become an investment millionaire, you will be glad you did.

Not sure where to start?  We save on just about all our everyday online purchases through Rakuten. Furthermore, Rakuten gives you $10 just for signing up and making your first purchase.

Ibotta is another excellent cashback app we use to save money.  Be sure to give Ibotta and Rakuten a try.

3. Minimize Taxes To Become A Millionaire With Stocks

investing to become a millionaire

Millionaire investors minimize taxes on their investment profits.  How do they do this?

First of all, they avoid active trading. To minimize capital gains taxes.

Furthermore, they invest for capital appreciation rather than income.  This reduces annual income taxes.

Finally, they maximize investments in qualified retirement accounts. For the tax benefits, they provide.

A 401k or Individual Retirement Account (IRA) are examples of these types of accounts.

Qualified accounts may be the best. For building wealth at a young age.

4. Becoming A Millionaire From Stocks Means Keeping Investment Costs Low

Get investment fees wrong and your million-dollar investment portfolio can be eaten up by fees.

So, to become an investment millionaire, focus on low-cost funds or individual securities.  And, keep trading to a minimum to avoid transaction fees.

Better yet, make all your stock trades for free.

Because zero-cost, zero-commission stockbrokers are easy to find.  This is exactly what a millionaire investor does.

More on this topic in a moment. But next, strategy number 5.

5. Investing Millionaires Invest In Stocks

investing millionaire

Where do millionaires invest their money?

There is no question about it. Because for average folks like you and me, stocks are the best investment for a millionaire investment portfolio.

I know there are other options for our investment dollars.  Real estate, bonds, businesses, precious metals, and peer-to-peer loans come to mind, just to name a few.

And yes, I know many people including millionaires do very well with some of these investments.  But, not for this millionaire investment program.  Here’s why.

Becoming A Millionaire With Stocks Means Keeping Investing Simple But Effective

First of all, we want to keep this millionaire plan simple.

Furthermore, while working to make money, you may not have the time or expertise to research and manage multiple investment types.

Finally, stocks have proven to have solid long-term investment returns.

The average annual return from the U.S. stock market over the past 100 years has been about 10%.  That is a really good return on investment.

I crossed checked this number with Vanguard, one of the largest money management firms in the world.  As well as with the popular personal finance website, Nerd Wallet.

As they say in the investment world, past performance is no guarantee of future results.  So, for purposes of becoming an investment millionaire. I will work with this 10% average annual return.

It has the side benefit too. Since it’s an easy round number to remember.

Okay. Now you know where millionaires invest their money.  But, you might think I’m being a little vague.

Vague about minimizing taxes and costs?  Also, about investing in stocks.? You may be saying to yourself, tell me exactly how to become a millionaire with stocks.

Don’t worry, next up is my specific investment suggestion to meet all of your millionaire investing goals.

6. Best Stock For An Investment Millionaire In The Making

So, you are investing in yourself and making more money.

Furthermore, you are watching your spending and creating excess cash to invest. These are just good money habits to make part of your everyday life.

Finally, you are ready to invest and are looking to invest in a way to minimize taxes, keep investment costs low, and put your investment dollars in stocks.

So what’s a solid choice to become an investment millionaire?  It is the Vanguard Total Stock Market ETF (VTI).

With your first millionaire investment dollar, you get diversification across the total U.S. stock market. 

Vanguard Total Stock Market ETF (VTI) Review

Let’s do a brief VTI review before we go any further.

Here is what Vanguard has to say about the VTI ETF:

  • Seeks to track the performance of the US Total Market Index
  • Contains large, mid, and small-cap stocks diversified across growth and value styles
  • Employs a passively managed, index-sampling strategy
  • Remains fully invested in stocks at all times
  • Has low expenses to minimize net tracking error

The passive index strategy keeps trading to a minimum.  This keeps costs and taxes low.

And here are some of the top holdings in the Vanguard Total Stock Market ETF:

CompanyStock Symbol
Johnson & JohnsonJNJ
Berkshire HathawayBRK.B
Procter & GamblePG
United Health GroupUNH

You can see that your millionaire investment dollars will go to the stocks of very well-established, profitable companies.

Finally, what does it cost to invest in VTI?  Not much actually.  Just .03% of your investment.

What does that mean?  Well, assume you had $1,000,000 invested in VTI.

It would cost you just $300 per year.  Most noteworthy, the cost will be much less while your investment in VTI is smaller.

How VTI Serves Our Needs To Become Millionaire Stock Investors

To conclude, VTI serves all the needs of an investment millionaire.  What are those needs again?  To summarize:

  • Minimize taxes
  • Keep investment costs low
  • Invest in stocks

Thus, VTI is a great option.

But it is always a smart idea to do your investment research.  And make your own investment choices.  After all, it’s your money!

Next up, is the final step in our investment millionaire guide.

7. To Become A Millionaire With Stocks Invest Every Month

Choose the amount you will invest each month.  And make automatic deposits of money from your checking account into your brokerage account.

Automating monthly investments is a great way to invest in small amounts.  And, take advantage of dollar-cost averaging.

This is exactly how millionaires invest. They create disciplined wealth-building processes.

And yes, you need a brokerage account to purchase VTI each month.  Do you have a brokerage account?

If not, I use and recommend Webull.

Webull is free and easy to use for buying stock.  Plus, for a limited time, Webull is offering free stock when you open and fund your account.

How To Buy Your First Millionaire Investment

To buy your first share of VTI, simply

  1. Open your Webull account or use your existing brokerage account
  2. Transfer money from your bank to that account
  3. Place a trade for the number of shares of VTI you can afford to buy

Then, as the saying goes, rinse and repeat every month to execute your millionaire investing program.

So that completes our review of the 7 proven strategies to become a millionaire stock investor.

But we are not done.  Let’s cover a few important questions.

frequently asked questions

How Much Do I Need To Invest To Become A Millionaire?

I can’t deny that having 1 million dollars is an abundance of money. So what does it take to get there?

The truthful answer about the time and money required is this: it depends. 

Depends on what?

It depends on the amount of money you invest each month.  And the actual return on your investment.

These are the most important variables. When trying to achieve a million-dollar net worth with stocks.

So let’s ask the question a different way…

Then I can run some numbers for you.  To answer each question below, I am going to assume an average annual return of 10%.

How Much Do You Need To Invest To Become A Millionaire In 10 Years?

To become an investment millionaire in 10 years assuming a 10% average annual rate of return, you need to save and invest $4,882 per month.

Yes.  That is a lot of money to attract and invest.

It is one reason I suggest investing in yourself first to make more money.  The more money you make and managed properly. This means the more you can invest.

And the more you invest, the sooner you will become a millionaire from investing.

So, let’s see what happens when you take a little more time to reach your millionaire investing goal. After all, I never said this is a get-rich-quick scheme.

How Much Do You Need To Invest To Become A Millionaire In 20 Years?

To become an investment millionaire in 20 years assuming a 10% average annual rate of return, you need to save and invest $1,317 per month.

Okay.  That looks a little better.  But let’s check out one more option. 

How Much Do You Need To Invest To Become A Millionaire In 30 Years?

To become a stock market millionaire in 30 years. Assuming a 10% average annual rate of return.

You need to save and invest $442 per month.

That looks a little more realistic.  Breaking the monthly savings amount down to a daily basis, I get about $15 per day. Can you save $15 per day?  If you have read this far, I suspect you can.

Think about it. If you invest $15 a day starting in your 20s. Then you will be wealthy in your 50s.

But, before we complete our discussion on how to become a millionaire by investing, I would like to repeat the answer to the question I posed at the beginning of the article…

Can You Become A Millionaire From Stocks?

Yes, you can.  YOU can become an investment millionaire by investing in stocks.

However, it takes time, discipline, and a little good fortune. But you can do it!

The examples prove it.  However, they show that stock investing is not a get-rich-quick scheme.

Furthermore, the earlier you get started wealth-building. The sooner you will become an investment millionaire.

Then, you will be able to work a little less and live more!

Okay. Allow me to wrap up with a summary…

7 Proven Strategies to Become a Millionaire with Stocks

Now you know how to become a millionaire by investing.  Just follow these 7 strategies.

  1. Invest in yourself
  2. Save money
  3. Minimize taxes on investment gains
  4. Keep investment costs low
  5. Invest in stocks
  6. Choose the best stock investment
  7. Invest every month

More Reading For An Investing Millionaire In The Making

More Resources: Your Millionaire Investor Toolkit

Disclosure & Disclaimer: I am not a licensed investment adviser, financial adviser, or tax professional. And I am not providing you with individual investment advice, financial guidance, or tax counsel. Furthermore, this website’s only purpose is information & entertainment. And we are not liable for any losses suffered by any party because of information published on this blog.

I own VTI. It plays an important part in my millionaire investing strategy.

Now Go Forth & Become A Millionaire With Stocks