12 Secrets That Rich People Don't Want You To Know

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If you want to be on the side with the rich, you’ve got to start thinking like the rich. Here are some of their secrets that they might not want you to know.


1
The average millionaire goes bankrupt at least 3.5 times.

2
A 2010 study argues that millionaires (those in the top 1% of earners) pay approximately 40% of all taxes in the United States.

3
According to the book The Millionaire Next Door, only 20% of millionaires inherited their wealth. The other 80% earned their cash on their own.

4
Around 80% of millionaires are college graduates. Only 18% of millionaires have Master's degrees. Eight percent have law degrees, 6% have medical degrees, and 6% have PhDs.

5
The preferred car of millionaires is a Ford. Cadillacs are second and Lincolns are third. Many millionaires avoid high-priced cars in favor of a more economical set of wheels because cars are investments with little return.

6
Only 20% of millionaires are retirees. Around 80% still go to work.

7
Just 17% of millionaires or their spouses attended a private elementary or high school. However, 55% of millionaires' children have attended/are attending private schools.

8
Most modern American millionaires today (about 80%) are first-generation millionaires. Usually the fortune they build will dissipate by the second or third generation.

9
Those with Russian ancestry have the highest concentration of millionaire households in America. The Scottish rank second and Hungarians rank third.

10
Four of the youngest billionaires in the world are connected to Facebook (Mark Zuckerberg, Sean Parker, Eduardo Severin, and Dustin Moskovitz).

11
The largest increase in the number of millionaires in the past year were in India (21%), China (16%), and Singapore (14%).

12
One in five people in Singapore is a millionaire, making it the city/state with the most millionaires per capita.