Our clients at Ameriprise recently released the results of a study we conducted with them about how millionaires built their savings.
The headline finding: Investors with $1 million or more say “financial planning and investing” is the No. 1 action that helped them build wealth, followed by “making a good income” and “living within my means”
Other notable results include the following:
- Most millionaires (85%) agreed that wealth means having a sense of financial security.
- Most millionaires (92%) don’t consider themselves wealthy.
- Millionaires’ financial priorities differ from less affluent investors. Investors with more than $1 million revealed that their top financial priorities is “protecting accumulated wealth” (62%).
For more of our work with Ameriprise, see the results of this 2022 study on generational wealth.
Photo by Joshua Mayo on Unsplash
