becoming a millionaire is actually easier than you might imagine. . . If you save $3,860 a year for 40 years and earn 8% on the savings, you will have one million dollars. A Ross IRA will allow you to save $4,000 a year and all earnings are tax free, unless of course congress changes the law. There are mutual funds that have easily bettered 8%. Whether they will do that in the future is uncertain. But it has happened in the past. . . For example the Vanguard Windsor fund has had an annual return of 12.55% since 1958. So if that were to continue, in 30 years saving $4000 a year you would have $1,074,000. All tax free.