How often have you heard that “90% of millionaires made their wealth through real estate?” Real estate gurus frequently make this claim, and it has a certain allure. It’s a catchy phrase that suggests that the path to wealth is straightforward and accessible to anyone willing to invest in real estate. However, this claim is not entirely accurate. In this article, we will delve into the data and reveal where real wealth is actually created.
Debunking the real estate myth
Understanding the millionaire population
To begin with, let’s look at the number of millionaires in the United States. There are approximately 23 million millionaires, which represents about 6.7% of the total population. This is a significant number, but it’s important to understand how these individuals have amassed their wealth.
