How to Get Rich: 3 Tips From MillionairesYou don't need to be born with a silver spoon in your mouth to one day become a millionaire. Instead, you need to have three qualities in life: ambition, hard work and family upbringing.
U.S. Trust, Bank of America's private wealth management firm, polled 684 Americans who have $3 million or more in "investible assets." Each answered hundreds of questions, and the results are surprising.
About 77 percent said they were born into middle class or poor families, and worked their way up. They earned their money, rather than inheriting it.
How did they become millionaires? Overwhelmingly, they credit hard work, ambition and family upbringing, insisting these three factors were far more important to their financial success than connections or innate talent. Fully 80 percent of the respondents said their parents were firm disciplinarians, who emphasized academic achievement, financial discipline and work participation but also encouraged them to pursue their own talents and interests. Three-quarters of respondents said they had parents who were present in their lives both physically and emotionally.
"The points seem to be so traditional in nature," said Chris Heilmann, the chief fiduciary executive at U.S. Trust, explained to CNN/Money. "It's [about] deeply held family values rather than an inheritance or existing wealth."
He added, "It indicates the American Dream seems to be alive and well."