Millionaires: what you don’t know about them and what you need to know

Here are twenty very interesting facts about millionaires that were discovered during research.

You may not know, but they are absolutely true:

1. Largest percentage of millionaires earned money on your own. Thus, 80% are first-generation rich people who earned their money on their own. Less than 20% inherited significant money.
2. Three in four millionaires (75%) said that investing gradually and steadily over a long period of time is the main reason for their success.
3. Only 15% of millionaires held senior management positions such as Vice President or General Manager, CFO, COO, etc. 93% of millionaires said they achieved their wealth through hard work rather than big paychecks.
4. The degree is very important, not where it comes from. Nearly two-thirds of millionaires (62%) graduated from public schools, while only 8% attended prestigious private schools. The vast majority, 88% of millionaires, have a bachelor’s degree. Just so you know – only 33% of US adults have a bachelor’s degree.
5. For the self-employed small business owners four times more likely to become millionaires than those who work for others. Of the millionaires who have not retired, two-thirds are small business owners(!).
6. Most millionaires believe that financial independence is much more important than the well-known demonstration of high social status with material things.
7. About 8.8% of American adults are millionaires. Most of them (95%) have between $1 million and $5 million.
8. After the US, home to 40% of the world’s millionaires, the next five countries with the most millionaires are China 10%, Japan 6%, UK 5%, Germany 5% and France 4%. These six largest countries account for 70% of the world’s millionaires.
9. The nine cities with the most millionaires are Tokyo, New York, London, Paris, Frankfurt, Beijing, Osaka, Hong Kong and Shanghai.
10. Most millionaires identify as Republicans (38%), Democrats (30%) and independents (29%).
11. Most millionaires DO NOT drive luxury cars. The top 5 brands owned by millionaires are Toyota, Ford, Honda, Lexus and Subaru(!).
12. 86% are married and typically 65% ​​are still in their first marriage.
13. 97% are homeowners and have lived (on average) in the same home for more than 20 years.
14. Eight out of ten millionaires (80%) have invested in their own company.
15. The top five professions that will help you become a millionaire include: software engineer, business administrator, lawyer, chemist(!), financial manager and business consultant.
16. 62% of millionaires who own their own companies are in “dull and boring” businesses.
17. On average, they save and invest 20% of realized income.
18. The highest concentration of millionaires in the US live in: 1. New Jersey, 2. Maryland, 3. Connecticut, 4. Massachusetts and 5. Hawaii.
19. About 22 million people have a net worth of more than $1 million, 1.45 million have a net worth of more than $10 million, and about 90,000 have a net worth of more than $50 million.
20. To be in the top 1% of rich people in the world, you need to earn about $600,000 a year.

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