Portrait of a Pentamillionaire
Posted on June 10, 2007
SmartMoney.com recently had an article entitled, “Reaching the $5 Million Club Takes an Open Mind” in which research and marketing firm The Harrison Group paints the portrait of a pentamillionaire in today’s economy. With a net worth of $5 million you will be placed in the top 1% joining 930,000 others. 70% of these high earners have made their money in the last 13 years.
Key statistics:
- 80% of the pentamillionaires either started a business or worked for a small business that exploded with growth.
- 10% inherited their money.
- Most made their money in lump sum after years of hard work.
- Optimistic and friendly personality with interest in new experiences. All traits that inherently allow the individual to come across many opportunities.
- Many made their money after committing themselves to solving a problem or doing something better than the competition.
- Has a propensity to be persistent in the face of adversity.
- Only 10% of pentamillionaires money comes through passive investments.
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