You might have heard lots of gossip about your local or international millionaire. In fact rich people always have the media and mass attention. But I think some interesting myth yet to be dig out that might amazed you. So let’s hear the myth.
Millionaires avoid Taxes
You must be thrilled to hear that millionaires are reluctant to pay taxes. It is not true at all. In fact tax department is rich because of rich people and recent changed tax regulation might make the tax department more affluent. So don’t always accuse wealth people because of tax evade.
Inherited wealth
Most of us believe that millionaires inherit money from family. But you will be surprised to hear that in U.S.A only 20% of millionaires inherited their wealth. Remaining 80% earned money through their own hard work and skill. So it is your time to give up illusion and work hard to become a millionaire.
Millionaires have no financial tension
Most of the wealthy millionaires feel worry about thinking retirement time, kids future or academic expenses’ college fund and the mortgage just like the rest of us. Those worries are greatest among new millionaires, the people who just recently acquired their wealth.
Millionaires all drive luxury Cars
German automaker produces luxury posh car and you might think it is only for rich guy. But in reality ford and Cadillac’s are main choice of millionaires. So you are wrong to assume that wealthy millionaires only drive BMW or roles Royce.
Travel the world frequently
You might think that after retirement all millionaire travel through world and enjoy attractive destination. In fact only twenty percent of millionaires have retired and remaining eighty percent still work like us with no retirement plan and no time for traveling.
Actually today’s competitive economy force millionaires to make cautious budget and spend wisely, and spotlight on financial freedom first. Actually these criteria make one discipline and help growing wealth.