We invested 5 years analyzing how rich individuals have rich — and found you can find generally 4 paths to wealth

We invested 5 years analyzing how rich individuals have rich — and found you can find generally 4 paths to wealth

The very best 5% of households in the usa reported $197,651 or even more in income in 2016, according to the Tax Foundation. This same top 5% managed 60% of the nation’s wealth, in line with the Federal Reserve Survey of Consumer Finance.

This 5% run companies that are big run little companies, employ millions, hire and fire employees, spend money on brand new companies, liquidate old companies, increase or decrease wages, and really get a grip on the lives of this other 95%.

This 5% can, and does, alter book of matches review our lives, for better or for worse.

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Therefore, what do these social people actually do that made them therefore rich?

I devoted five years of my entire life to answering that concern. In my Rich Habits research, We interviewed 233 rich people over five years (177 of who had been self-made millionaires) with at the least $160,000 in annual income that is gross $3.2 million in web assets. Then I composed a series of Rich Habits publications sharing the info We had collected.

Here’s a snapshot of the data, since it relates to the way the rich get therefore rich

  • 13% had been salesmen/saleswomen
  • 28% had some professional designation; some worked for big companies, other people in a small business
  • 63% t k a personal risk that is financial search of wealth
  • 41% had been “B” students
  • 29% were “C” pupils
  • 68% had a degree
  • 25% possessed a degree that is postgraduate
  • 86% worked more than 50 hours a week

Though I found there to be overlap between all four paths if you were to boil it down, the rich became rich by pursuing wealth in at least one of four ways

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