The study also gave us some broader details about today’s millionaires. It found that 86 percent are self-made, as opposed to inheriting their fortunes. (Though the term “ self-made ” has become controversial).
The average age of today’s millionaire is 61. So all those Silicon Valley whiz kids, celebrities and athletes are outliers. The real rich are old.
The top sources of wealth for the self-made millionaires were investments and capital appreciation; compensation and employee stock options or profit sharing. Self-made millionaires feel just as secure as the inherited rich, although inheritors were more likely to use financial advisors.
How much do you need to feel wealthy?
-By CNBC's Robert FrankFollow Robert Frank on Twitter: @robtfrankPage 2 of 2 | Prev Page