Redditors who are rich (net worth $1 million+) - how did you get rich?
Our path to be on track for a net worth of $1 mil:<p>1) Two good incomes on the professional track. We both have good degrees from universities and don't plan on taking any breaks in employment. Even with kids, there are plenty of great childcare options available. Living near family helps too.<p>2) Drive paid off cars. Buy new cars if you want, but structure your costs so you can pay them off in 2-3 years max and then drive them for another 5 or more. Stagger your purchases so you never have more than one car payment at a time.<p>3) Buy a home well below your means in area with a lower cost of living. There are plenty of parts of the country where you can earn a combined six figure income while spending less than $100/sqft for a home in a good neighborhood.<p>4) Limit how often you eat out for lunches and dinners to twice a week or less.<p>5) Live frugally so that you can save 20-40% of your income. Don't cheapen out on things for you or your family, but don't let yourself be manipulated by the consumerism that surrounds us. If you have a disposable income, use it for experiences like travel rather than collecting stuff.<p>6) Avoid expensive hobbies/activities that consume a lot of time and don't contribute much to your marketable skills. If a hobby requires spending a considerable chunk of your monthly income, reconsider whether it's really worth it.<p>TL;DR: It's really not that hard to save your way to $1 mil, you just have to be willing to work a little harder and spend a little less than most people to get there.