May 20 is National Be A Millionaire Day. Before you ask where they’re handling the checks, this is a day to treat yourself as a millionaire, at least with a nice dinner. It’s also a day to open a savings account! Read more about it here.

National Be a Millionaire Day

May 20 is National Be A Millionaire Day, and it’s a day to either feel like a millionaire or plan to become one. There are 18.6 million millionaires in the US alone, and 705 of them are billionaires.

The good news is that wealth is being passed on to younger generations; there are more millennial millionaires than ever. Did you know most millionaires live in the New York area? The youngest, though, live in California.

There’s more good news, only 20% of millionaires inherited their wealth, meaning it’s still possible to accumulate significant amounts of money during your lifetime. Most millionaires in the country are first-generation millionaires, and they worked for their money. There are no free tickets to the millionaire’s club.

Back to this encouraging holiday, the National Be A Millionaire Day is a good day to save and investing some money. It’s never too late to achieve a more prominent net worth. Although indeed, money doesn’t buy happiness, there are plenty of things money gets you that certainly bring a smile to your face.

Becoming a millionaire shouldn’t be anyone’s goal. You become a millionaire by being successful in what you do, which can only happen when you do what you love. Find what you’re most passionate about and make a living out of it. The rest comes with time. This doesn’t mean you can’t treat yourself on Be A Millionaire Day. Go out for a fancy dinner or buy yourself shiny new shoes, splurge a little!

History of National Be a Millionaire Day

We don’t know how or why the National Be a Millionaire Day came to be. We know the buzz on social media started in 2015, around May 20, and has gained traction ever since.

There are two main reasons National Be A Millionaire Day matters. One, because we all deserve to feel like millionaires, at least for a day. Let’s splurge a little, responsibly, of course. It’s incredible how we restrain ourselves from spending money on things we deem unnecessary just to save a few bucks — that’s not a millionaire’s attitude. Treating yourself and having some fun is part of having healthy finances.

The second reason is that we should all take steps towards financial freedom. Save money, invest, and live without debt! That’s the road to wealth. We can all be millionaires by having healthy finances and smart decision-making.

How to Celebrate National Be a Millionaire Day

No, you probably won’t become a millionaire soon. You can certainly live like one, at least during National Be a Millionaire Day! Treat yourself to a nice meal, enjoy a spa treatment, or better yet, open a savings account!

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