>A low risk strategy might give you a comfortable life with high probability, but almost certainly won't make you a millionaire.
If you invest $5k per year and earn a 7% annual return with a mix of stock and bond index funds, you'll be a millionaire in 40 years. If you don't like my 7% number, then invest $16,500 at 2% (short term government bond type rates), and you'll still get there in about 40 years.
For a sufficiently frugal person on an engineer's salary, getting to a >$1 million net worth is easy, but it takes a while. It's worth noting, however, that $1 million isn't a particularly lavish retirement anymore (and will be much more modest in 40 years).
The easiest way to become a millionaire is to have boring financial habits.
If you invest $5k per year and earn a 7% annual return with a mix of stock and bond index funds, you'll be a millionaire in 40 years. If you don't like my 7% number, then invest $16,500 at 2% (short term government bond type rates), and you'll still get there in about 40 years.
For a sufficiently frugal person on an engineer's salary, getting to a >$1 million net worth is easy, but it takes a while. It's worth noting, however, that $1 million isn't a particularly lavish retirement anymore (and will be much more modest in 40 years).
The easiest way to become a millionaire is to have boring financial habits.