Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMoneywiseWed, July 15, 2026 at 9:05 PM GMT+2 10 min readShutterstockMoneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.There's so much wealth-building advice out there that it's easy to feel a little overwhelmed. If you ask ChatGPT "how to become a millionaire," you're likely to get a flood of endless money hacks, conflicting advice and complex economic theory.But you don't need any of that to get into the seven-figure club. You can chart a course to the $1 million milestone by simply focusing on three essential numbers.Must ReadHere's a closer look at these crucial wealth-building blocks.Net worthYou can't make intentional progress if you don't know where you currently sit. That's why the most basic number you should be tracking is your net worth.Calculating your net worth sounds simple, but for many Americans, it's not. About 51% say they don't know how to do it. The numbers are even higher for women (61%), while 73% of Gen X'ers say they don't currently track their net worth, according to Credit Karma (1). That means many people have no clear picture of their financial standing.Fortunately, you don't need sophisticated tools or AI to track your net worth. A simple spreadsheet that lists all of your assets and liabilities and calculates the difference between the two should suffice.But, while knowing your net worth is important, this is only the first step. Growing it is what truly counts.One way to build long-term wealth is through real estate — an asset that can generate passive income, appreciate over time and offer powerful tax advantages. When people talk about real estate investing, they think of home ownership most of the time, meaning residential real estate.But there are other ways to invest in real estate without committing to a mortgage or setting down roots.You can tap into this market by investing in shares of vacation homes or rental properties through Arrived.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info