In a recent survey of adult Americans showed that a solid one in three Americans think that they are slated to become “rich,” although their definitions for rich ranged from specific dollar figures to being able to retire to specific luxuries or goals to simply no longer having to worry about money. Most people, however, would agree that millionaires are rich (or at least rich enough), and while that term in itself ranges widely in definition, one of the most common definitions is having a net worth of over $1M, not including primary residences.   So how did all these deluded Americans believe they would become rich? Here are five of their answers, along with their respective pros and cons.   Road to Riches: Securities Investing The good news for those who think that clever investing in the right stocks and commodities is the fastest way to make money: you’re right. The bad news: it’s also the fastest way to lose money, despite the recent widespread belief that real estate investing is the riskier route. Many, many people have grown rich through investing in the various financial markets, but the problem is that most of those are finance professionals, not intrepid day traders and independent investors. Because prices can fluctuate so much in a month, a week, a day, an hour, or even just a minute, the volatility makes it both extremely lucrative and extremely risky, and thus a better ancillary investing vehicle rather than a primary avenue to wealth creation.   Road to Riches: Starting a Business There’s no question: most of the wealthiest people in America got there through starting a business and growing it. This classic approach, so engrained in the American collective conscience, has a lot of appeal, from being your own boss to controlling your own destiny and having something that you created and can call your own. It also has two distinct advantages, namely tax advantages and the ability to create wealth by leveraging other people’s time and money, that it shares with real estate investing, which makes it a particularly promising vehicle to wealth. The problem, however, is that even though most wealth people are entrepreneurs, most entrepreneurs fail; 90% of businesses fail within the first couple years, leaving their owners financially crippled.   Road to Riches: Real Estate Investing Only 9% of the poll respondents chose real estate investing as the likeliest path to wealth, which belies the fact that real estate is far more stable and likely to appreciate in value in time than securities, and the fact that most of the wealthiest people in the country have earned at least part of their wealth through real estate investing. Part of this unpopularity may be due to the recent real estate industry’s collapse, which has turned many Americans off of real estate investing. Among more consistent disadvantages, real estate investing has a high cost of entry (usually a minimum up-front investment of $10,000), and real estate investments are notorious for surprise costs (such as furnaces dying, or tenants ceasing to pay their rental agreement, etc).   Road to Riches: Salaries Fully 15% of the public believe that the combination of earning more and spending less is the magic formula to wealth creation, and they’re not necessarily wrong: even at minimum wage, you can become a millionaire if you save half of your income and invest it wisely. But the problem is that no one actually lives up to these lofty ideals; if someone who makes $45,000 is given a raise to $65,000, they promptly go out and look at bigger homes, or look at faster cars. Americans are notorious for living at or above their means, instead of below them, which makes this method a terrific goal, but an unlikely road to riches.   Road to Riches: Luck Sadly, an absurdly high number of Americans (a full 15%) think they will become wealthy through sheer luck, by winning the lottery or a huge inheritance. While all four of the other techniques discussed have their pros and cons, and none are likely for the average American living hand to mouth, the mere hope of getting lucky has no pros whatsoever, and in fact prevents people from seriously pursuing wealth creation.   One of the great things about America is that anyone can physically become a millionaire, with sufficient dedication. Through a combination of pursuing higher-income jobs, saving a high percentage of income, using that savings to create a diverse portfolio of securities and real estate investing, and keeping an open mind for starting your own venture, anyone can become a millionaire, if they’re willing to work and sacrifice to do it.