More than 90% of millionaires used these five tools to build wealth

Being a millionaire may be more common than you think.

About 20 million people in the U.S. have enough assets to fit the definition, according to a 2020 study by Credit Suisse.

Chris Hogan, radio host and author of the book "Everyday Millionaires," surveyed more than 10,000 of those wealthy individuals to figure out their secret to success. He learned that most millionaires aren't the jet-setters portrayed on television.

"These are regular, hardworking, everyday people. They're not flashy," Hogan said. Most of them accumulated their wealth over time by making wise decisions, according to Hogan.

Having a particular mindset almost universally contributed to millionaires' success, Hogan said. He found that around 97% of millionaires surveyed believed they were in control of their own destiny. That is much higher than the 55% of the general population Hogan found to hold the same opinion.

Check out this video to see the other four beliefs and practices that more than 90% of millionaires apply to their money.

More from Invest in You:
'Predictably Irrational' author says this is what investors should be doing during the pandemic
Coronavirus forced this couple into a 27-day quarantine amid their honeymoon cruise
How to prepare for a family member with Covid-19

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post The Social Security cost-of-living adjustment will likely be bigger next year. But there are reasons why retirees’ monthly checks might not go as far
Next post Tim Cook became CEO of Apple 10 years ago. Here’s how much money you’d have if you invested $1,000 in the tech giant the day he took over