13 Surprising Facts from 100 Millionaire Interviews and What We Can Learn from Them

Here is the article.

1. Most millionaires have high incomes, but it hasn’t always been that way.

The median annual income of my 100 millionaires was $250k.

The Millionaire Next Door, The Next Millionaire Next Door, and the upcoming book Everyday Millionaires.

Millionaires do earn higher than average incomes?

The main reason millionaires earn more is that they are great at growing their careers. 

They know that just a bit of extra, focused effort can make a huge difference in how much they earn over time (which is literally millions). As a result, they invest time and energy to grow their careers and the skills needed to get ahead.

Many nay-sayers will object to these findings and thus begin making excuses why they can’t be a millionaire. 

A common example is something like this: “If some guy/family makes $250k plus a year, that’s a no brainier….I could do that with no investment risk and free cash flow unless I was an idiot” (from my post titled How to Ignore the Basics of Personal Finance and Still Become Rich).

First of all, no, that’s incorrect. A large income alone does not guarantee a high net worth. 

There’s no correlation between income and wealth. 

Millionaires have been earning this much throughout their careers. It is not true. 

Most millionaires started with very modest incomes and advanced over time.