Ranks of millionaires quietly growing, but their status is not

Key takeaways

Millionaire status is increasingly common among average earners

Rising home values and stock investments drive wealth growth

Many millionaires still live modestly and spend frugally

The $1 million milestone now brings security, not luxury

As a child, Heidi Barley watched her family pay for groceries with food stamps. As a college student, she dropped out because she couldn’t afford tuition. In her twenties, already scraping by, she was forced to take a pay cut that shrunk her salary to just $34,000 a year.

But this summer, the 41-year-old hit a milestone that long felt out of reach: She became a millionaire.

A surging number of everyday Americans now boast a seven-figure net worth once the domain of celebrities and CEOs. But as the ranks of millionaires grow fatter,