Why Americans Don’t Want To Be Millionaires, According to Money Expert Rachel Cruze

In a September 23 ^rd video from The Rachel Cruze Show , the personal finance expert and public speaker referenced a recent survey that noted, “most people want to be financially comfortable than reach millionaire status .” Cruze went on to note that she largely agrees with that sentiment.

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This may come as something of a surprise, given how Cruze has dedicated herself to educating others on building financial security and wealth. She boils the issue down to a single question — is it better to life your life comfortably, or to dedicate yourself to the hard and immediate work of becoming a millionaire?

“Having money goals is great,” Cruze noted, “but I have found, trying to hit this arbitrary number… ‘I want to be a millionaire by 35!’ That sometimes can be a really empty goal.” She then gave a few reasons why:

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You’ll Miss Out on Life

Perhaps you can and will reach your goal of being a millionaire — but if you put in the work to achieve that, you’ll also spend nearly a decade being “just miserable,” Cruze stated. The amount of work, focus and almost obsessive dedication required to reach millionaire status can take over your entire life. Meanwhile, building financial security (while not becoming an out-and-out millionaire) allows you to actually live your life, and to enjoy it.

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The More You Have, the More You Need and Want

Once you reach a $1 million net worth, “the finish line keeps moving,” Cruze stated. Once you become a millionaire, there comes the urge and instinct to keep that number growing and moving higher. “You net worth becomes your self-worth,” Cruze warned.

Compound Interest Will Work Best for You Over Time

Finally, Cruze asserted that compound interest will work best for you over time. Cruze makes clear that dedicating yourself to becoming a millionaire — as opposed to amassing an income that allows you and your loved ones to live comfortably — is an exhausting strategy. She recommended putting a little bit of money aside month after month (specifically, 15%), investing, and letting it grow over time, instead of straining to make millions as soon as you can.

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