Millionaires - they make up 7% of U.S. households. As a result, their lifestyles are foreign to the average citizen. Surprisingly, data on this group shows that they are more like their less affluent peers and less like the stereotypes associated with rich people.
Ten facts about American millionaires:
Money trouble is part of the millionaire pedigree. On average, they go bankrupt at least 3.5 times. Think Donald Trump.
Guess what? Millionaires aren't slackers. Despite their immense wealthy, 80% of them still work. Only 20% of this crowd are actually retired.
Be of good cheer! Most millionaires today are first-generation millionaires. They rose above their parent's level of income to achieve great financial success.
Ancestry is factor in money. Russians comprise the highest concentration of millionaire households in America. Scottish rank second and Hungarians third. Not being born in America is an advantage in the sense that new immigrants have not acclimated themselves to a lifestyle of high consumption.
Shocker: most millionaires don't live in mansions. These folks reside in regular neighborhoods with the rest of the population.
Want to make a lot of dough? Start a business and get an education. 50% of millionaires are self-employed and 80% of them are college graduates.
Millionaires aren't the consumers driving pricy cars. In general, they prefer vehicles made by Ford. Cadillacs are second. This may have to do with their age (on average 61-years-old) and the fact that cars are poor investments.
Like their less affluent neighbors, millionaires have dream jobs in mind for their children. Most want their offspring to be accountants or attorneys. Tax advisors and estate planning experts are runner-ups.
Teachers don't earn big salaries. Yet, tats indicate 12% of educators are millionaires. How? They sell lesson plans online to their colleagues.
In 1900, only 5,000 millionaire households graced U.S. soil. Since, this number has jumped to over 9 million.
In conclusion, the above ten facts about American millionaires reveal that they experience the same ups and downs as regular folk. The only difference is that the way in which they determined to earn a buck works for them.
Ten facts about American millionaires:
Money trouble is part of the millionaire pedigree. On average, they go bankrupt at least 3.5 times. Think Donald Trump.
Guess what? Millionaires aren't slackers. Despite their immense wealthy, 80% of them still work. Only 20% of this crowd are actually retired.
Be of good cheer! Most millionaires today are first-generation millionaires. They rose above their parent's level of income to achieve great financial success.
Ancestry is factor in money. Russians comprise the highest concentration of millionaire households in America. Scottish rank second and Hungarians third. Not being born in America is an advantage in the sense that new immigrants have not acclimated themselves to a lifestyle of high consumption.
Shocker: most millionaires don't live in mansions. These folks reside in regular neighborhoods with the rest of the population.
Want to make a lot of dough? Start a business and get an education. 50% of millionaires are self-employed and 80% of them are college graduates.
Millionaires aren't the consumers driving pricy cars. In general, they prefer vehicles made by Ford. Cadillacs are second. This may have to do with their age (on average 61-years-old) and the fact that cars are poor investments.
Like their less affluent neighbors, millionaires have dream jobs in mind for their children. Most want their offspring to be accountants or attorneys. Tax advisors and estate planning experts are runner-ups.
Teachers don't earn big salaries. Yet, tats indicate 12% of educators are millionaires. How? They sell lesson plans online to their colleagues.
In 1900, only 5,000 millionaire households graced U.S. soil. Since, this number has jumped to over 9 million.
In conclusion, the above ten facts about American millionaires reveal that they experience the same ups and downs as regular folk. The only difference is that the way in which they determined to earn a buck works for them.
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