In this week's Arista Advice, we break down millionaire myths and what you should know about becoming a millionaire.
Welcome to Arista Advice. Today I'd like to talk to you about millionaire myths. Due to some data surveys from Dave Ramsey, we found a few things that aren't really a surprise to me, but they are to many.
For example, many people think millionaires just inherited their wealth. In all reality, only 20% of millionaires inherited anything.
Myth number two, millionaires drive fancy cars and have fancy stuff. Believe it or not, Ford is the preferred vehicle choice among millionaires. We know there's some nice Ford's out there, but it's not a Lamborghini.
Number three - the rich people got rich through fancy investments. No, most people did not get rich through fancy investments. 8 out of 10 people got rich primarily through their company retirement plan. Countless people are loyal. They put in their money each pay period, and after a period of time they wake up and they're a millionaire. It's the easiest way to get there.
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