6 Surprising Facts About U.S. Millionaires That Will Give You Hope

Where does wealth come from?

If you aren’t sure, don’t feel bad. Most people are pretty confused about it too.

When I grew up, I was told wealth was the result of working hard and sacrificing. But I was also told you had to be lucky, born or inherited into it. I didn’t realize until I was in my 30s that those two beliefs were 100% contradictory.

Today I hear a lot of people say you have to be an entrepreneur to become wealthy, and you’ll never get there working a 9-to-5.

Some say wealth is reserved for those with ivy league educations and the best job opportunities.

Hear this: most people with high net worth statements and six-figure salaries still feel like they have a long way to go before they would consider themselves “wealthy.”

So, who is the average millionaire?

• Most individuals with > $1M net worth are the first in their family to be wealthy
• 80% of wealthy individuals never received inheritance
• 33% of millionaires never earned a salary > $100K
• Only 22% of millionaires own a business
• 80% of millionaires built their wealth in a 401K
• Only 42% of of wealthy individuals have college degrees

Feel better about your prospects now? You should.

You can build wealth, however you define it.