National Be a Millionaire Day

Celebrated on 05/20/2026

Quick Fact

National Be a Millionaire Day is celebrated on May 20th each year, encouraging people to dream big about financial success. The date was chosen to align with the anniversary of the signing of the Homestead Act in 1862, which enabled many Americans to acquire land and build wealth.

Origins and Establishment of National Be a Millionaire Day

National Be a Millionaire Day was created in 2011 by financial advisor and author Tom Corley, who wanted to inspire people to adopt the habits and mindsets of self-made millionaires. The date, May 20th, was selected to commemorate the Homestead Act of 1862, signed by President Abraham Lincoln, which granted 160 acres of public land to settlers for a small fee, enabling many to build wealth through farming and land ownership.

Evolution and Modern Commemoration

Over time, the holiday has grown beyond its original focus on financial planning to encompass broader themes of entrepreneurship, self-improvement, and goal setting. Today, it is celebrated through online campaigns, seminars, and social media posts sharing tips on budgeting, investing, and career development. Many use the day to review their financial goals, read books about wealth-building, or start a side business.

Facts & General Observations

• According to a 2022 report by the Federal Reserve, there were approximately 24.5 million millionaires in the United States.
• A study by Tom Corley found that 65% of self-made millionaires had three or more sources of income.
• The concept of becoming a millionaire has evolved; due to inflation, a million dollars today is worth less than it was in the past, with the purchasing power of $1 million in 2000 being equivalent to about $1.7 million in 2023.

Explore more celebrations, trivia, and quests on National Day Quest.