We asked 1,000 millionaires how they got rich. Here’s what they said.
6/19/202634 min
What do real millionaires actually do with their money? We surveyed 1,000 millionaire households to uncover the habits, savings rates, investing behaviors, home-buying decisions, debt strategies, and wealth-building mindset that helped them achieve financial independence. From net worth and income data to student loans, car purchases, emergency funds, and the Financial Order of Operations, discover the surprising lessons wealthy Americans used to build lasting wealth—and how you can apply them to your own financial journey.
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Clips
Transcript preview
First 90 secondsBrian Preston· Host0:00
You might think you know what the wealthy do with their money, but are you right?
Bo Hanson· Host0:04
And, Brian, I am so excited about this because our clients have literally spent decades building wealth and learning financial lessons along the way. And on today's show, we get to show you just what it looks like to live like a millionaire.
Brian Preston· Host0:17
I'm Brian, he's Bo, and we're financial advisors here to dive into what the wealthy actually do with their money, how they got there, and what you can learn on your way to building your great, big, beautiful tomorrow. With that, let's jump right in.
Bo Hanson· Host0:30
[gentle music] All right, Brian, so let's jump right in, 'cause, you know, every year we do this survey. We ask our clients all these questions. Let's talk about what do they actually look like? Who are these folks? And so just at a glance, let's start with the very beginning, 'cause it's one of the things we talk about all the time here. We want you to understand where you are and what your net worth is. You take everything that you own and subtract out everything that you owe, and that's your net worth. When we look at our clients, the average net worth for our clients is just under three and a half million dollars, but the median is about two and a half million. It's not skewed by the higher and lower ends. In the middle, about a two and a half million dollar median net worth amongst our clients at Abound Wealth.
Brian Preston· Host1:22
So if you're watching this and you're wondering, "Well, what is my net worth?" We would invite you, hey, you've got to start this journey somewhere. Start keeping