3 success factors of American millionaires

Most people with a net worth of $3 million or more in the US come from lower-class backgrounds. Eighty percent of them say their parents were strict.

According to CNN, this is part of a report recently released by the private wealth management company US Trust of Bank of America. The report surveyed 684 Americans, who have $3 million or more in investable assets, using a variety of questions.

About 77% of respondents said they grew up in a middle-class or lower-middle-class family. Of those, 19% said they came from a poor family.

Surprisingly, the three factors that led to success that many American millionaires agreed on were: hard work, ambition, and nurturing family. Respondents even said these three factors were much more important than connections or natural talent.

“These are very traditional in nature. Wealth comes from deep family values, not inheritance or a huge amount of wealth,” said Chris Heilmann, chief executive officer of US Trust.

The survey also found that wealthy people had parents who were strict. 80% of respondents said their parents were strict disciplinarians. Additionally, millionaires said that academic achievement, financial discipline, and work engagement were the values ​​most emphasized in their families.

“The survey shows that the American Dream is alive and well,” said Heilmann. Many may be skeptical of the report’s findings, but Heilmann said the results were “refreshing, encouraging and a little surprising.”

According to Thanhnien