Much ado has been made of the rising income gap and the perceived shift in power.
Eighty-six percent of today’s millionaires did not consider themselves wealthy growing up (“self-made”), while only 14 percent said they grew up wealthy (“born-wealthy”). Key findings include:
• Of those who are self-made, their top sources of assets included investments/capital appreciation, compensation and employee stock options/profit sharing. Those who were born wealthy were more likely than the self-made group to cite inheritance, entrepreneurship and real estate investment appreciation as an asset source.
Better than 5 in 6 of America’s wealthy created their own wealth. And the method they used was work.