![]() 50% of millionaires didn’t inherit a cent from their parents. And lastly, most Americans with over a million dollars in net worth are not privileged people who inherited money.The median (50th percentile) net worth of a millionaire is $3.1 million with an annual household income of $250,000, but they spend like someone who makes only $85,000 a year (numbers are inflation-adjusted for 2023). Most Americans with over $1 million in net worth live way below their means.The typical millionaire lives in a neighborhood where they are outnumbered by non-millionaires three-to-one and half of millionaires live in the same house for at least 20 years. For starters, most Americans with over $1 million in net worth rarely purchase fancy cars or homes. ![]() ![]() ![]() Thomas Stanley and William Danko conducted the most comprehensive study ever on wealthy Americans and discovered that the prevailing assumptions about millionaires are just plain wrong. ![]()
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