Building wealth isn’t just about earning more – it’s about creating a legacy that stands the test of time. The ultra-wealthy have mastered strategies that allow their fortunes to grow even in uncertain economic climates.
Only 12% of Americans “believe they are wealthy,” according to a survey from Edelman Financial Engines Financial. Even 1 in 3 millionaires responded the same when quizzed by the planning and investment advisory company.
Why do those with high net worth still feel it’s inadequate to call themselves wealthy? Here are the Top 3 concerns cited in the report:
- Current political environment: 86%
- Inflation: 86%
- Global conflicts and crisis: 82%
In today’s volatile world of personal finance, understanding the playbook of the wealthiest Americans could help anyone take steps toward financial security.
By adopting and reinforcing the following eight approaches, the rich build wealth beyond their lifetimes.
1. Building multiple streams of income
