You are here: Home - Investing -

The secret’s out: how the rich got rich

0
Written by:
10/04/2013
Forget massive inheritances or winning the lottery; the majority of millionaires accumulated their wealth the old-fashioned way - by working hard.

According to a poll of high-net-worth individuals by advisory firm deVere Group, more than half (52%) said the number one strategy to build wealth was to work for it, while 27% said to save and 21% said invest wisely.

deVere Group’s chief executive, Nigel Green, said: “There’s a certain perceived mystery surrounding how the wealthy become wealthy. But our study shows that the majority of millionaires accumulate their money the old fashioned way – they work for it.”

Last month, the deVere Group published findings of a poll in which it was concluded that high-net-worth investor confidence is at its highest level in three years, with 53% saying they were feeling bullish about the outlook for the next 12 months.

Green added: “Interestingly, the results of our ‘strategies for building wealth’ poll were not wide apart, suggesting a combination of all three – working hard, saving, and smart investing – is how the rich really become rich.”

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • @YourMoneyUK I will be travelling to UK from Gran Canaria and im in reciept of pension credit, am i eligible for this payment?
  • Unclaimed money scheme expanded to aid Covid recovery: https://t.co/lQgBdlQJE0 @YourMoneyUK
  • RT @thenutmegteam: Keeping on top of your pension now could well pay dividends in the future. ⏳ Nutmeg's savings and investments specialis…

Read previous post:
UK to escape triple-dip recession

The UK will narrowly escape a triple-dip recession with economic growth from January to March forecast to be 0.1%.

Close