How much money does it take before you are rich? Even better, how much does it take to feel rich yourself? According to a recent survey of affluent households, defined as those with investable assets of $500,000 or more, it turns out that $1 million just doesn’t cut it. When asked how much money it takes to be rich, 45% chose $5 million, 25% selected $25 million, and 8% picked $100 million, according to the research by Millionaire Corner, a newly launched Web site (www.millionairecorner.com) powered by Spectrem Group. Only 22% said $1 million is enough to be rich. Achieving such wealth–and holding onto it for generations–is the topic of a new book by Spectrem’s Catherine McBreen and George Walper, titled Get Rich, Stay Rich, Pass It On: The Wealth Accumulation Secrets of America’s Richest Families. The book is based on years of research in addition to interviews with ordinary individuals who were able to amass enough wealth to pass it on to successive generations. In their research, the authors found that the proper mix of entrepreneurial activities and income-producing real estate is the key to achieving perpetual wealth.
Many believe they’ll be in debt forever, the firm’s new report says.
The goal, the firm says, is to provide RIA and family office investors real-asset renewable energy project investments to generate strong, stable cash flows for clients.
Deutsche Bank Wealth Management's acceleration toward sustainable investing and behavior goes beyond client demand.
Sponsored by FMG Suite
Finding the right marketing solution for your advisors.
Sponsored by Smarsh
Review these scenarios to make sure you avoid FINRA & SEC penalties.
Sponsored by Smarsh
It’s easy for modern communication methods to expose your firm to risk. Find out how to ensure you remain compliant!
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.