![]() ![]() However, it did point to some of the advantages of being the owner when a business idea takes off. Stanley and Danko write: "These self-employed people are four times more likely to be millionaires than those who work for others." Of the non-retired millionaires, two-thirds of them were small business owners.ĭoes this mean every small business succeeds? Of course not. I expected more discussion of highly paid professionals (lawyers, doctors) as high-wealth individuals, but this book really focused on the many people who built a small business to the point of retaining more than $1 million in wealth. A huge percentage of millionaires are small-business owners I believe that generational advantages also play a role, but it was refreshing to hear stories of people whose families were not wealthy and who still accumulated $1 million in savings or investments in a single lifetime. Stanley and Danko point out that only 19% of millionaires had received money from a trust fund or estate, and 91% never received any ownership of a family business a substantial percentage are "self-made" millionaires. I was initially surprised to realize that generational wealth is a major player but not the only player in the millionaire set.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |