Akhil Prakash Nair’s Post

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ACCA Finalist | Financial Modelling & Valuation Specialist | Financial Wizard | Capital Markets | Investment Strategy | Economist |

90% of Millionaires comes from real estate??? How many times have you heard this ridiculous statement from real estate gurus? "90% of millionaires make their money through real estate. 90% of millionaires are made through real estate. Stop trying to invest in anything else but real estate, 90% of millionaires are created through real estate." The 90% line is a cool one, and they all use it, so it must be true. But it's not. I'll show you the data, and then I'll show you where real wealth is created. The facts. There are 23 million millionaires in the United States or 6.7% of the population. Now, on homes. Only two-thirds of Americans own a home. And only 8.2% of the homes in the U.S. are valued at over a million dollars. Now let's make the ridiculous assumption. People don't actually pay money for these houses. They're just gifted these $1 million homes. Only 2 out of 3 Americans own homes. And only 8% of homes are worth more than a million dollars. That's 5.3% of the population with a million dollars worth of real estate. That's nowhere near 90% of the 23 million American millionaires. And only 5% of Americans own more than one home. So that doesn't explain it either. 90% of millionaires come from real estate? It has a good ring to it, but it's BS. You know where millionaires are actually made? Through their place of employment. Owning their business. Or working for someone. Through hard work. Saving money and investing it. Stocks have averaged a 10% annual return. The average home goes up at 5.4% per year. Unfortunately, there's no magical wealth creation in this world. Even through real estate. Don't let these gurus say things without backing it up with data. Work hard. Earn money. Invest the access. And get the company matched if you can. That's real free money. #WealthCreation #FinancialLiteracy #RealEstate #Investing #HardWork #DataDriven #FinancialEducation #Entrepreneurship #StockMarket #Savings #Diversification #NoBSFinance #Millionaires #FinancialIndependence #SmartInvesting #FactBasedFinance #Skepticism #WealthBuilding

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