Maria Bartiromo reveals the No. 1 rule to become a millionaire in the US

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Fox Business host Maria Bartiromo shared a secret to success with viewers looking to become millionaires in the U.S.

The news anchor, author, and financial journalist shares an estimated net worth of “between $50 and $70 million” with her husband, Wall Street financier Jonathan Steinberg, according to TheStreet.

Decades of financial and business wisdom led Bartiromo to reveal what she believes is the most important rule for becoming a millionaire in the US.

“This is something I say all the time: The number one thing to do on your road to becoming a millionaire is very simple,” she said on “Mornings with Maria” as she spoke with personal finance expert Rachel Cruze.

“Join your company’s 401(k) plan — put as much money in there as you can early on, and make sure you do not touch it,” she added.

Cruze wholeheartedly agreed.

“It’s a long-term mindset,” she noted, speaking of how younger generations feel retirement is so far off that they feel like they “are putting money in a black hole.”

“Some Americans are retiring earlier than expected – not always by choice,” Bartiromo had noted.

The 57-year-old, who also hosts “Sunday Morning Futures” on the Fox News Channel, pointed to data from the Transamerica Center for Retirement Studies which showed the median retirement age in the U.S. is now 62.

She emphasized that ensuring “a stable and secure future” means taking advantage of things like financial planning and retirement plans offered by employers.

“Joining your company’s 401(k) plan early and contributing as much as you can is crucial,” Bartiromo stressed. “The key is to not touch it – leave it alone and let it grow.”

“It’s all about consistency,” Cruze remarked. “The biggest mistake people make is pulling money out when the market dips. That short-term panic can have devastating long-term consequences.”

Bartiromo pointed to good financial habits being instilled in children at a young age.

‘Teaching kids to save, earn, and to manage money responsibly is one of the greatest gifts parents can give,” she said. “Become a saver. Learn what it is to become a saver. Every time you get paid put a little aside for yourself.”

“Every time I wanted to buy something, my mom would ask, ‘How are you paying for it?’ She made me save up, even for something small like an ice cream cone from the Mr. Softee truck. That lesson stuck with me for life,” she recalled. “It stuck with me that I needed to collect change in a jar. Become a saver.”

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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida. Powers also contributes to BizPac Review.