USA Millionaire Households

There are 3.5 Million Millionaire households in the USA. Let us discuss few characteristics of the Millionaire households in the USA.

- They live well below their means. It means that unlike most of the other Americans, they spend less than they earn and of course they never take a debt to fuel their expensive life style.

- They don’t wear Expensive clothes, Branded Watches & Drive Luxurious Cars. Because they believe in Financial Freedom more than showing High Status.

- Most of the Millionaires drive 3-4 years old second hand car because they believe that, a newly bought car will loose more than 60% of its value within first few years you buy the car and that’s why it is advisable to drive a second hand car.

- According to these millionaire households, wealth has to be accumulated. You can’t be wealthy by spending more. But you can be wealthy by accumulating more Assets.

- They Earn in Capital Gains & Businesses to save taxes. They pay very less in taxes in comparison to the most of the other Americans. They know that, the major Expense in anyone’s life is a Tax and that’s why they earn more in Capital Gains and Businesses to avoid heavy duty taxes.

- Every year, almost 20% of their realized Income goes towards Long term Investments. Yes, This thing is next to impossible for most of the Americans but it is true for Millionaire Households in America. And because of this long term Investments, they always remain rich.

- All the Millionaire Households have a sufficient amount of accumulated wealth that, even if they stop working today, they can live the same level of life style for more than 10 years without working for a minute.

Thus, USA Millionaire Households have so many unique characteristic…!!!