A record number of people have reached the seven-figure O milestone. Follow our five strategies to join them.
Your odds of becoming a millionaire aren’t what they used to be—they’re better. A record number of U.S. households have reached that enviable goal: At the end of 2016, 10.8 million households had a net worth of $1 million or more, not including their primary residence, reports the Spectrem Group. In fact, there were 1.6 million more millionaires in the U.S. in 2016 than there were in 2007, just before the stock market crash. What the market took away, the current bull market has restored— and then some. // But stocks aren’t solely responsible for household wealth. In a survey of households with investment portfolios worth $3 million or more, U.S. Trust asked people how they had accumulated their wealth. More than half of those responding (52%) cited earned income from a job or business, 32% cited investments and 10% credited an inheritance. So it appears that the vast majority of the group are self-made millionaires who follow a straightforward formula of working hard and using their income productively. We outline five routes to success.
1 Live Like a Million Bucks
Let’s start with the basics. One of the biggest barriers to reaching the $1 million milestone isn’t a stock market meltdown or even a brief period of unemployment. It’s something financial planners call “lifestyle creep”—buying a bigger house or nicer car every time you get a raise or bonus.
この記事は Kiplinger's Personal Finance の September 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Kiplinger's Personal Finance の September 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
My Top 30 Index: An Update
A year ago, I put together what I called \"my own reinvention\" of the Dow Jones industrial average, the popular 142-year-old large-cap index.
Balance Your Risk and Reward
These new ETFs let you cut stock market losses. But you'll sacrifice some gains.
IS A HYBRID CAR RIGHT FOR YOU?
Hybrids offer a fuel-saving option for drivers who have reservations about all-electric vehicles. But there are trade-offs.
HOW TO REACH YOUR INVESTING GOALS
Patience helped these four investors make their portfolios work for them.
WHERE TO INVEST NOW
Expect a lot of midyear churn, with a rally toward the end of 2024.
TIPS FOR FINANCING A HOME PROJECT
I recently had a call with a client who was looking to fund the construction of a swimming pool at his house.
MORE WOMEN THAN EVER ARE STARTING BUSINESSES
Retail and travel businesses, along with health, beauty and fitness, are popular with women entrepreneurs.
Finding Home Health Care
It’s important to hire a caregiver you trust.
UNDERSTANDING BOND FUND YIELDS
What's a 30-day SEC yield? A trailing 12-month yield? A yield to maturity? We explain what each measure says about an income fund.
ANSWERS TO YOUR QUESTIONS ON STUDENT LOANS
If you have federal student loans, you may benefit from new government policies. Here's what you need to know.