Some of these careers represent a fast track to millionaire status because of high income. ... Ramsey Solutions recently conducted the largest survey of millionaires top five careers for millionaires are:
But there are plenty of CEO positions at smaller companies that also pay over $1 million per year. And along with CEOs, there are also company presidents, chief financial officers (CFOs), chief information officers (CIOs), and even a fair number of vice presidents who earn seven figures per year.
The stock market is one of the primary sources of income for the rich. Many wealthy individuals invest in stocks and bonds as a way to generate passive income. According to one of the largest studies of millionaires ever conducted, millionaires did not build a net worth of a million dollars or more through inheritance.
“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate.
Wealthy people don't simply expect to make more money; they plan and work toward their financial goals. They have a clear vision of what they want and take the necessary steps to get there.
Some created new riches, some inherited old ones. But many on the list have something in common: They made their fortunes in the world of finance–or inherited such wealth. This year, the industry with the most billionaires is finance and investments, with 393 billionaires, nearly 15% of the list.
Some wealthy people could easily buy houses outright without borrowing. Rich people often still take out home loans anyway even though they could pay cash.
Studies indicate that millionaires may have, on average, as much as 25% of their money in cash. This is to offset any market downturns and to have cash available as insurance for their portfolio. Cash equivalents, financial instruments that are almost as liquid as cash.
