Welcome to Kiplinger's My First $1 Million series, in which we hear from people who have made $1 million. They're sharing how they did it and what they're doing with it. This time, we hear from a married 48-year-old health care worker in Sagadahoc County, Maine.
See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.)
Each profile features one person or couple, who will always be completely anonymous to readers, answering questions to help our readers learn from their experience.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
These features are intended to provide a window into how different people build their savings — they're not intended to provide financial advice.
THE BASICS
How did you make your first $1 million?
I migrated to the U.S. in my mid-20s. I was working and always just saved. I parked most of it in cash until I educated myself on investing.
I started by investing in individual stocks, but the daily price gyrations were too much for my appetite. I then read a commonsense book by Jack Bogle, and I invested in index funds for 22 years.
I could truly say that book spoke to me and changed my life. I was able to max out my IRA contributions through work for several years. I always max out my Roth.
I crossed to seven figures last year.
What are you doing with the money?
I withdrew some money from my brokerage to help my nephew pay off student loans and give early inheritance gifts to my niece and nephew. This allowed them to migrate from a Third World country to a First World one.
THE FUN STUFF
Did you do anything to celebrate?
Nothing special, really. Didn't buy anything extravagant. (The day) just went on by like it was an ordinary day that I'll never forget.
What is the best part of making $1 million?
Just a source of personal pride. I was poor growing up, and money has always been a source of stress. Right now, I'm not only able to help myself, but also others.
It's good to know that the little amount of money I gave my relatives changed their lives profoundly.
Did your life change?
Outside of cutting down on work and increasing volunteer hours, not much changed. Like I mentioned earlier, I was able to help out my relatives. Outside of that, I'm still the same old me.
Does anyone know you're a millionaire?
My current partner has an inkling, but she has not seen my spreadsheets. People have different attitudes when it comes to money, so I would probably keep this to myself.
Any plans to retire early?
Fortunately, I like my job, and it's not too physically or emotionally demanding. I did cut down on hours so I can gain some of my time back.
I'm planning to work on a part-time or per-diem basis because I like the structure of having workdays and weekends.
LOOKING BACK
Anything you would do differently?
I probably wouldn't have been too hard on myself with maxing out my contributions. Money issues definitely contributed to the divorce of my first marriage.
At some point, I realized that time is really my currency and not so much the money.
Right now, I only work part time and contribute less to my retirement accounts.
Did you work with a financial adviser?
No. I was able to figure out the accumulating part pretty easily. It might be different when it's time to tap these accounts.
Did anyone help you early on?
Just books and an inherent desire to solve my family's money issues.
LOOKING AHEAD
Plans for your next $1 million?
Nothing, really.
Any advice for others trying to make their first $1 million?
Time is your currency, not money.
Do you have an estate plan?
I have been thinking more and more about this. I want to create an estate to pass on what I was able to accomplish to the next generation. I'm just thinking of the most efficient way to do it.
What do you wish you'd known …
When you first started saving? Compounding interest is your best friend and worst enemy (when it comes to debt).
When you first started investing? That I shouldn't be so hard on myself, and (remember that) everything takes time.
If you have made $1 million or more and would like to be anonymously featured in a future My First $1 Million profile, please fill out and submit this Google Form or send an email to MyFirstMillion@futurenet.com to receive the questions. We welcome all stories that add up to $1 million or more in your accounts, although we will use discretion in which stories we choose to publish, to ensure we share a diversity of experiences. We also might want to verify that you really do have $1 million. Your answers may be edited for clarity.
RELATED CONTENT
- You're 62 Years Old With $1 Million Saved: Can You Retire?
- Want to Earn $1 Million More Over Your Lifetime? Do This
- Do You Have at Least $1 Million in Tax-Deferred Investments?
- Are You Rich? U.S. Net Worth Percentiles Can Provide Answers
- Compare Your Net Worth by Age
-
Dow Adds 646 Points, Hits New Highs: Stock Market TodayIt was "boom" for the Dow but "bust" for the Nasdaq following a December Fed meeting that was less hawkish than expected.
-
5 Types of Gifts the IRS Won’t Tax: Even If They’re BigGift Tax Several categories of gifts don’t count toward annual gift tax limits. Here's what you need to know.
-
The 'Scrooge' Strategy: How to Turn Your Old Junk Into a Tax DeductionTax Deductions We break down the IRS rules for non-cash charitable contributions. Plus, here's a handy checklist before you donate to charity this year.
-
The Top 22 Gifts for Grandkids from Walmart in 2025From PlayStation to Labubu, you'll find the hottest gifts of 2025 for your grandkids at Walmart this year. Some of them are up to 78% off.
-
CD vs. Money Market: Where to Put Your Year-End Bonus NowFalling interest rates have savers wondering where to park cash. Here's how much $10,000 earns in today's best CDs versus leading money market accounts.
-
Meet the World's Unluckiest — Not to Mention Entitled — Porch PirateThis teen swiped a booby-trapped package that showered him with glitter, and then he hurt his wrist while fleeing. This is why no lawyer will represent him.
-
Smart Business: How Community Engagement Can Help Fuel GrowthAs a financial professional, you can strengthen your brand while making a difference in your community. See how these pros turned community spirit into growth.
-
Smart Money Moves Savers Should Make in 2026These steps will get you on the road to achieving your 2026 savings goals.
-
How Much Would a $50,000 HELOC Cost Per Month?Thinking about tapping your home’s equity? Here’s what a $50,000 HELOC might cost you each month based on current rates.
-
My First $1 Million: Self-Employed Trader, 50, San FranciscoEver wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.
-
Waiting for Retirement to Give to Charity? Here Are 3 Reasons to Do It Now, From a Financial PlannerYou could wait until retirement, but making charitable giving part of your financial plan now could be far more beneficial for you and the causes you support.
