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I wish, I wish I could The Economist article on this, but searching online for "how millionaires become rich" and similar things is an awful way to find useful
by cl42 10y ago
I wish, I wish I could The Economist article on this, but searching online for "how millionaires become rich" and similar things is an awful way to find useful info. :)
However, I remember reading in The Economist that the majority of millionaires (you can debate if that's real wealth or not) become that way through PROFESSIONAL jobs: law, management consulting, investment banking rather than entrepreneurship. Arguably, being a partner at a law firm does tie your success to revenue of the firm, but not sure if that's what you meant.
- kasey_junk 10y agoSure, but becoming a millionaire and earning more than 250k per year are different things. If you want to make more money per year, you need to take on more risk. If you want acquire wealth you need to spend less than you make. Becoming a millionaire over the course of your career is relatively straight forward if you make even half of what the question is about.
- superuser2 10y agoYou become a millionaire by making an average middle-class salary ($45k ish), marrying someone else who does the same, setting your 401k to 15%, and waiting a few decades. That does not make you rich, it is simply the prerequisite for retirement. "Millionaire" at 25 means rich. Millionaire at 50 means it is at least plausible you will retire without wrecking your children's finances to keep you off the street in old age.