Who Can Be A Millionaire?

Who can be a millionaire? Can I? Can you become one? 

Hey guys, welcome back to The Cash Kid Podcast! Today, we’re talking about something that most people think is impossible… but actually isn’t. You don’t have to be born rich. You don’t have to be famous. You don’t even need to have a six-figure salary. But what do you need? That’s what we’re going to talk about.

My mom and I recently both read Everyday Millionaire by Chris Hogan, and we’re going to break down exactly what makes a millionaire. The best part? Almost anyone can do it—it just takes smart financial choices, patience, and the right mindset.

I learned a TON from this book. It actually shocked me how wrong most people are about who millionaires really are. And trust me, after reading this book, I realized that anyone can do this. No lottery tickets, no trust funds—just smart habits, the right mindset, and patience.

Remember, the Cash Kid Podcast is here to teach my generation how to earn, save, and invest money earlier in life. We are going to bust some millionaire myths today. Let’s get started.

 

[music interlude]

Segment 1: What is a Millionaire?

Cash Kid:
 Alright, so let’s start with the basics. Before we dive into how to become a millionaire, we should probably define what a millionaire actually is.

 Most people think a millionaire is someone with a million dollars in cash just sitting in a bank account. But that’s not what it means!

A millionaire is someone whose net worth is at least $1 million.

And net worth is just a fancy way of saying: everything you own, minus everything you owe.

Let’s break it down real quick:

Say you own a house worth $300,000, but you still owe $200,000 on it. You also own a car worth $75,000, and you’ve paid off $55,000 of it. That means the total value of your assets is $375,000. But when you subtract what you still owe ($255,000), your net worth is $120,000.

And to be a millionaire, that number has to be in the millions!

Segment 2: Who Actually Becomes a Millionaire?

CASH KID:
 Okay, now that we know what a millionaire is, let’s talk about who actually becomes one.

Chris Hogan interviewed over 10,000 millionaires for this book. What surprised me the most was who these millionaires actually are

Honestly? I thought most millionaires would be people making six figures or more—big CEOs, athletes, or tech geniuses. But in reality, the majority are regular people! They’re teachers, engineers, small business owners… even people working in everyday jobs. Most of them never made over $100K a year! That blew my mind.