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Stupid assumptions people have of millionaires.
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1) Millionaires don't pay taxes
The top 1% pay nearly 40% of all taxes.
In 2016, the top 1% paid more in taxes than the bottom 90%, combined.
* Source: Tax Foundation
The top 1% pay nearly 40% of all taxes.
In 2016, the top 1% paid more in taxes than the bottom 90%, combined.
* Source: Tax Foundation
2) Most millionaires got lucky
According to Fidelity, 88% of millionaires are self-made. Only 12% inherited more than 10% of their wealth.
Their top asset sources are investments and stocks, not just salary.
According to Fidelity, 88% of millionaires are self-made. Only 12% inherited more than 10% of their wealth.
Their top asset sources are investments and stocks, not just salary.
3) Millionaires live lavish lives
Most millionaires admit they are relatively frugal, drive normal cars, shop at regular stores, and live in modest homes.
Most millionaires admit they are relatively frugal, drive normal cars, shop at regular stores, and live in modest homes.
4) Most millionaires inherited their wealth
Only 20% of millionaires inherited their riches, according to author Thomas Stanley.
Most are first-generation rich, working their way up.
Only 20% of millionaires inherited their riches, according to author Thomas Stanley.
Most are first-generation rich, working their way up.
5) You don't need a degree to make millions
It's true, you don't NEED one. But, 80% of millionaires are college graduates.
It's true, you don't NEED one. But, 80% of millionaires are college graduates.
6) You need an elite degree to be a millionaire
The numbers show there isn't a real difference in life-long salary between elite schools and normal schools.
* Source: The Atlantic
The numbers show there isn't a real difference in life-long salary between elite schools and normal schools.
* Source: The Atlantic
THE TRUTH:
Assumptions and excuses don't built wealth.
Action does.
Try it.
Assumptions and excuses don't built wealth.
Action does.
Try it.
