Once you have read this article your perceptions of the wealthy 1% of the population might change, you will soon realize it is not always about the rich staying rich, or the poor staying poor. The article describes some of the many factors that may go into what has helped some people achieve their millions. Within this it breaks the misconception that you will always stay in the social class as to which you were born. The article definitely opens the mind to the true factors and details that actually contribute to making someone wealthy, It’s an excellent read and I would highly recommend this to anyone of believes there is no hope of improving one life standard. It is better to be educated about a certain topic, especially with presidential elections around the corner. And tax’s being a big focal point for candidates.
Key Points:
- 1Many of todays wealthy grew up in average middle class or lower families and didn’t inherit their wealth. They made it through hard work and shrewd business tactics.
- 2For the mega rich the top three most important values while growing are academic achievement, financial discipline and work participation.
- 3The majority of high net worth investors did not make their great wealth from taking great personal risk, rather they they grew their wealth over time through a series of smaller risks.
Among the study’s most striking conclusions: much of the 1%’s road to wealth was paved not with gold but remarkably average upbringings and investment strategies.
Read the full article at: https://www.forbes.com/sites/maggiemcgrath/2016/05/23/the-6-most-important-wealth-building-lessons-from-multi-millionaires/?ss=personalfinance
Reply