Six Tips to Increase Your Odds of Becoming a Millionaire

Ron Dicker
Updated
More than $1 million in $100 bills
More than $1 million in $100 bills

Given that you stand a 1-in-175,711,536 chance of winning the Mega Millions lottery, you might try becoming a millionaire with a more practical strategy. Your odds aren't so bad as it is. One-in-106 Americans is a millionaire, according to a recent article in Investopedia. And 31% of the world's "high net worth individuals" with a million bucks in assets beyond their home live on this continent.

So how do you increase your odds of joining the prosperous without waiting for your numbers to come up? Financial adviser Mitch Slater, a senior vice president - investments at UBS Financial Services in Westfield, N.J., offers six tips to reach seven-digit status. The advice isn't sexy -- but are you gonna care when you're counting your first million?

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