They say earning the first million dollars is by far the most difficult. That doesn’t seem very difficult to believe does it? When you’re starting out, most of your assets are held in real estate which isn’t very liquid and doesn’t work as well in terms of generating compound interests:) However, it does look like it’s easier than ever to make that first million, just take a look at this chart:
That being said, being a millionaire clearly does not mean what it used to, especially in this era of ultra-low interest rates. Someone earning 4% on $1,000,000 (which would be fairly good) would only generate $40,000 before taxes. And that is for a portfolio of 100K. It’s unlikely that someone with a net worth of $1M would have all of his money in the market.