The $1 million mark is a significant milestone. In the past, it's been a luxury to hit that mark, but nowadays, it's becoming more of a necessity for many people to retire comfortably.

Unfortunately, becoming a millionaire through strictly saving is all but impossible for most people. Even if you had 40 years, you'd have to put away $25,000 yearly. That's a tough ask for anyone, but especially for someone not making well into six figures annually during that span.

Luckily, there's compound earnings. In investing, compound earnings happen when the money you make on your investments begins to make money on itself, and it's how many people build their wealth. With time, consistency, and well-diversified index funds, millionaire status can be attainable -- and no luck will be needed.

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Source Fool.com