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How are Millionaires Made? by Joann Seymour Kuster

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Joann Seymour Kuster

Author, Financial Educator

Much of a young person’s paycheck withers away, because most haven’t learned to pay themselves first. Saving and investing is not a habit yet. But it can become one. Learn to pay yourself as much as you can –invest and grow a nest egg for later.

You don’t know how to invest? That’s because most parents and schools don’t teach teens the money management skills needed. We just expect you to absorb our habits.

Learning to invest is no different than learning to read, swim, or play piano. To be good, you practice. The better you become, the more success you see. And, there’s nothing like practicing with your hard-earned cash!

How else are you going to become a millionaire? It’s possible, you know…to be a millionaire

How do most millionaires actually become millionaires?
The most important sources of wealth for millionaires are holdings of stocks, bonds and mutual funds (23%) and business assets (21%), according to America Saves. It is not an inheritance or lottery win that makes most millionaires.