You might remember the 1996 book titled The Millionaire Next Door. In it, Thomas Stanley breaks down the “typical” American millionaire, and he finds they aren’t what you think. They don’t all have Ferraris parked in front. Most are normal people who, by virtue of saving and investing throughout a lifetime, managed to accumulate more than a million dollars in assets.

Well, two decades later, there is a millionaire next door. In fact, there seems to be a millionaire on every street. In 2020 alone, 5.2 million people joined the ranks of the world’s millionaires, 1.7 million of which were in the United States.

And here’s where it gets fun. After the pop last year, 1% of the world’s adults are now millionaires. In the United States, that number is 8.8%. Nearly one out of eleven American adults is in the seven-figure club.

Now, if you’re not one of them, don’t feel bad. Most millionaires are in their golden years. They slowly accumulated their wealth over the course of a lifetime. They aren’t living a life of luxury with long lunches at the country club and vacations in the French Riviera. Most need those savings to pay for their living expenses in retirement.

All the same, if you’re not one, I’m sure you’d like to be one. Who wouldn’t?

Well, I can help you get there.

Millionaire Tip No.1: Have Skin in the Game

savings millionairesMost of 2020’s new millionaires didn’t do anything special last year. They simply owned assets that appreciated in value, such as stocks or real estate.

But to make those gains, they had to have their cash in play. It wasn’t sitting in the bank earning less than 1%.

I don’t make the rules. I’m a trader, and I play the cards I’m dealt.

Today, the reality is that the stock market is the only game in town. The Federal Reserve pumped trillions of dollars into the financial system in its attempt to mitigate the fallout of the COVID-19 pandemic. It kept the economy from cratering. But it also fueled the massive surge in asset prices. In fact, the Fed is one catalyst that I believe will contribute to the next wave of new millionaires in the U.S.

I don’t believe in a blind buy-and-hold strategy. I believe in placing trades when the data and analysis are on my side. And, at least for now, we’re in a bull market. It pays to participate.

Tip No. 2: Start Somewhere

Very few millionaires got rich quick. Most earned it a dollar at a time through compounding.

Whether you already have hundreds of thousands of dollars in cash on hand, or you’re getting started with a more modest sum, your next move is the same. You need to place that next trade … and then the one after … and the one after that.

We all like to imagine ourselves getting wealthy on a single winning trade. But the reality is that even the greatest investors in history — think Warren Buffett or George Soros — accumulated their wealth by making many good trades over many years.

Millionaire Tip No. 3: Risk Management Matters

The key to winning a long race like this is managing your risk. You won’t get every trade right. No one does, not even Buffett. You will swing and miss from time to time. But if you have good risk management in place, it’s fine. Your wins will outpace your losses, and those little setbacks won’t hurt you all that much.

I’ll hold off on giving you a tome on risk management for now, but I can summarize one of the most important rules here: Keep your position sizes reasonable. Whether you’re trading stocks, options or anything else, make sure that you don’t have too much at risk in any single trade.

With those three tips in mind, I want to offer you even more guidance through Green Zone Fortunes.

I’ve identified three market catalysts that will help mint an unprecedented number of new millionaires in the next 12 months.

These catalysts create the perfect environment for certain “market breaker” stocks, like one at the forefront of a $16 trillion investment opportunity.

To learn more about these catalysts and my No. 1 “market breaker” stock of 2021, click here for the details in my Millionaire Market Summit. There’s still time to get in now!

To good profits,

Adam O’Dell