For The National Study of Millionaires, the largest survey of millionaires ever conducted, we spoke to more than 10,000 millionaires across the country to learn more about who they are and what they did to achieve millionaire status. One of the defining characteristics of millionaires is that they take personal responsibility for their lives. In other words, they are the owners. Practically all millionaires (97%) believe that they control their own destiny.
5 They don't sit around waiting for things to magically change, but instead go out and do something about it. Wondering how to transfer your 401 (k) to an IRA? We'll guide you through the process and discuss why moving to an IRA is a great option for investing your retirement savings. Wondering what to do with the retirement money you left behind at your old job? A 401 (k) reinvestment could help you keep your retirement savings organized and give you greater control over your investments. Some professions will bring you more jobs and others will bring you higher paychecks.
Anyone with income can become a millionaire. Higher paychecks will increase your chances of reaching the state of having a net worth of one million dollars. Likewise, enjoying what you do will make it easier to work long enough to accumulate a million-dollar net worth. The truth is that you don't need to develop the next technological unicorn or be a celebrity to become a millionaire.
In reality, most millionaires are regular people, and not all of them take home six-figure salaries. With a little common sense and discipline, you too can become a millionaire with an average income.