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What is the most important way to generate Wealth?

Apr 22 2015

The Single Most Important Way to Generate Abundant Wealth

What is your answer to the question...

How do you think the majority of rich people got rich?

It’s not meant to be a trick question. But if you ask people off the street, they almost always get it wrong.

The correct answer is not only interesting. It can help you achieve your own wealth and success if you follow the cues.

But before I tell you what that correct answer is, it is helpful to understand the misconceptions that most people have...

Because hanging on to these “millionaire myths” can prevent you from attaining the success you desire.

Common Millionaire Myths

A clever marketer asked the simple question years ago:

“How do you think the average millionaire became a millionaire?”

Surprised at the initial results, he walked the streets and visited malls throughout the country and asked everyday working folks the same question.

The results were the same. And the number one response was predictable...

Most people thought that millionaires inherited their wealth.

Not so, says Thomas J. Stanley, author of The Millionaire Next Door.

In fact, in this 1996 best seller, he reported that less than one in five of all millionaires had inherited their wealth.

What’s remarkable is how that number has been shrinking ever since.

In a more recent survey taken by American Express Publishing and Harrison Group, the number had dwindled to less than one in 20.

Clearly, inheritance is no longer the primary way people become wealthy. The “nouveau riche” have all earned their wealth.

So how have the “new rich” become millionaires?

Stock market? Real Estate? Gold? A lucky weekend in Vegas?

Nope. None of these