What does it mean to be wealthy?

1
What does it mean to be wealthy?
2
True False??
3
Most milionaires inherited their wealth

• FALSE 80 are 1st Generation

4
Most millionaires earn more than 500,000 a year

• False Less than 15 have an income over that

5
College graduates earn about twice what high
school graduates earn over a 40-year work life

• False, the average college graduate earns 78
  more than the average high school grad and people
  with professional degrees earn 255 more!

6
People who are self employed rarely become
millionaires

• False more than half of millionaires are
  self-employed.

7
All millionaires wear expensive clothes.

• False fifty percent of millionaires have never
  paid fore than 400 for a suit 90 have never
  paid more than 1,000 for a suit

8
Millionaires usually drive new cars

• False less than 25 drive a current-year car
  and more than half drive a car that is more than
  2 years old

9
Many millionaires drop out of college to start
work

• False Four of five millionaires are college
  grads. 18 have a masters degree, 8 law
  degrees, 6 Ph.Ds

10
It is impossible to save enough to be a
millionaire

• False if a 22-year old saves 50 a week during
  his/her working life and earns 9 rate of return
  on the investment, the saver will have more than
  1 million by the age of 63.