Millionaires have changed over the years and today you will find that 66% are female while 25% are non-white, this according to a new Fidelity study. The outlook found that there are 6 traits that make the millionaires (starting with only $250,000 in assets) standout from the crowd. To begin with they still have a lot of time before retirement, normally more than 25 years.
They usually take on the same kind of professions as the millionaires that came before them, finance, accounting and technology. Their income is 2.5x the annual income of other households in America, near $125,000 a year. And new millionaires are self-made, they earned and invested assets themselves. Self-directing their portfolios as they went.
The millionaires tend to focus on long-term growth, at least 75% of them. And finally, they tend to be aggressive investors, placing their money into riskier investments for better returns.
NEW MILLIONAIRES HOW ARE THEY MAKING THEIR MONEY Documentary Finance Education