Path to wealth is through real estate holdings
Sorry, folks, this is not a get-rich-quick book. Still, you may be richer than you think, write authors Catherine McBreen and George Walper Jr. in Get Rich, Stay Rich, Pass It On.
More than 7 million American households today claim total assets of a million dollars or more. But it’s far more likely that “You’re among a group we call the mass affluent, people whose total assets add up to anywhere between $100,000 and $1 million, not including their primary residence,” according to the authors.
McBreen and Walper are managing director and president, respectively, of Spectrem Group, a research and consulting company that has been studying the affluent since 1991.
Each year, the firm surveys more than 5,000 millionaire and megamillionaire (more than $5 million in assets, not including primary residence) households. The firm monitors investment habits, how assets are allocated and the attitudes and perceptions that go into those decisions.