What is the average age to become a millionaire?

There’s no government statistic for the age people cross $1 million. The closest thing is Ramsey Solutions’ National Study of Millionaires, a survey of more than 10,000 U.S. millionaires fielded in 2017 and 2018, which found the median age for reaching millionaire status was 50, and that most took 25 to 30 years of working and investing to get there.

The Federal Reserve’s 2025 survey shows what share of families are millionaires at each age:

• Under 35: about 2%
• 35 to 44: about 13%
• 45 to 54: about 24%
• 55 to 64: about 33%
• 65 to 74: about 31%
• 75 and older: about 34%

The share goes from about 13% in the late thirties and early forties to a third by the late fifties, which fits a typical crossing point around 50. These figures count families and include home equity, so a couple with a paid-off house and two retirement accounts is a common millionaire.

See the full net worth by age tables.