A back-to-basics strategy is your best shot at retirement security.
For its recent Insights on Wealth and Worth report, U.S. Trust asked 684 high-net-worth individuals with at least $3 million in investable assets how they built their wealth and what behaviors they attribute most to their financial success. I’ve boiled down their responses to three practical tips that even regular Joes can use to enhance their financial security:
1. Focus on building wealth slowly, not getting rich quick. Although many people think of the wealthy as trust-fund babies raised in privileged backgrounds, 58% of the wealthy individuals surveyed said they came from a middle-class background, and 19% grew up poor.
Source: Money
