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Here's How Most Millionaires Get Rich

•, Chad Brooks

The study by Fidelity Investments found that 86 percent of today's millionaires did not consider themselves wealthy growing up. Overall, the research revealed current millionaires are, on average, 61 years old with $3.05 million in assets.

While nearly three-quarters of millionaires feel rich, those who do not said they would need an average of $5 million of investable assets to begin feeling wealthy.

"Today’s millionaires are multi-dimensional, and to really understand them, you need to look not only at their outlook, but also at their path to wealth and their financial goals for the future," said Sanjiv Mirchandani, president of National Financial, a Fidelity Investments company.
Of those who are self-made millionaires, the study revealed their top sources of assets included investments/capital appreciation, compensation and employee stock options/profit-sharing. Those who were born wealthy were more likely to cite inheritance, entrepreneurship and real estate investment appreciation as an asset source.

1 Comments in Response to

Comment by David McElroy
Entered on:

 A million dollars today is not what it was even 20 years ago, and much less than it was 50 or 100 years ago. In terms of buying power, a few million bucks salted away today merely deems you solid middle class, not truly wealthy. Unless you count your money by hundreds of millions, or billions, you are not rich, but of course, Obama would have you believe he is "soaking the rich" when he talks of heavy taxes for the $250,000 per year crowd: doctors, lawyers, managers, shopkeepers, contractors, farmers, commercial fisherman, etc. These people work hard for their money. Obama works for billionaires and trillionaires like Rockefeller, and certainly won't "soak" them!

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