The Top Careers of Millionaires Will Shock You
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- เผยแพร่เมื่อ 18 พ.ค. 2024
- The Top Careers of Millionaires Will Shock You
Ever found yourself wondering exactly which careers led people to hit the millionaire mark? You might assume it's all about landing those high-paying gigs, but here's a plot twist: that's not the whole story. Before you make assumptions based solely on salary numbers, let's take a look at the real factors influencing their success. Prepare to be surprised because this is not what most would guess.
I wasn't financial free until my 50’s and I’m still in my 50’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
@@maryHenokNftKudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?
Wright promptly do a web check where you can connect with her *Gertrude Margaret Quinto* and do your research with her full names mentioned..
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
I’m 55 and a surgeon, hoping to end the rat race at 60 with $1M. I know money is a liability to be exchanged for assets with real value like real estate (rental income) stocks (dividends) bond (profit) But, what is it with bitcoin? I'd love to diversify my $300k portfolio for fast growth.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key is diversification. Personally, I delegate my investing to a license advisor, cos my job doesn't permit the time to perform market analysis myself. Thankfully, my stagnant portfolio has 5X in 5 years, barely 10% short of a 7figure account as of today.
Can't share much here, I take guidance from 'Karen Lynne Chess' a renowned figure in her field of work with over two decades of experience. I'd suggest you research her further on the web.
thanks for putting this out, just inputted Karen Lynne Chess on the internet, spotted her consulting page no sweat, and was able to schedule a call session ... she actually shows a great deal of expertise from her resumé
It's been dumping and pumping in this range for ages! It's technically just going sideways, sideways means generally stagnant. More emphasis should be put into day trading, as it less affected by the unpredictable nature of the market. Trading has been going smooth for me as I managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Kerrie Farrell, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape....
As a beginner, it's essential for you to have a mentor to keep you accountable....
I've just looked up her full name on my browser and found her webpage without sweat, very much appreciate this...
I rather invest my money on crypto. Bitcoin trading is great unlike the stock market and other financial markets, bitcoin has no centralized location , since it operates 24hrs in different parts of the world...
Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate...
I agree with you and i believe that the secret to financial stability is having the right investment ideas to enable you earn more...
Interesting video but surprised you didn't mention the "sales" profession. I think people would be shocked to learn how much sale people make and how many of them are millionaires especially in corporate sales. My brother is a sales rep for an industrial equipment company and has made more than $500K a year for as long as I remember. He's 43 and became a millionaire in his 30's. Thank for the great videos!
I think it’s better to fly below the radar and save a percentage of your income and nobody suspects you’re getting rich so they won’t expect things from you
This. Yes.
This is so sad but true
"Stealth wealth"
This is what most Engineers and Accountants do. Our professions aren't flashy like attorneys and Doctors. We also understand numbers due to our training and get ROI and compounding.
“It’s not how much you make; it’s how much you keep” Wise words
It’s not too difficult to be a millionaire these days… unfortunately, the value of money isn’t what it used to be, so a million dollars isn’t very much, especially in certain parts of the country. A millionaire in California or New York is just getting by.
We love your videos Chris Invests! Thank you ❤
I'm an attorney, and the only thing that holds attorneys back from becoming millionaires are student loans and our own egos. A lot of attorneys start making money and immediately go out and bury themselves in even more debt as opposed to getting rid of their student loans first and sacrificing for a few more years.
Unfortunately a college education doesn't necessarily come with financial literacy. Take my dad. He's a certified public accountant. He also has a credit score of in the 400's. I had to learn investing on my own
1. Engineer 2. Accountant 3. Teacher 4. Manager 5. Attorney
“It’s all about how you manage your money, not just what you earn”
Teachers don't "stick to the lesson plan to keep the class on track..." As a teacher, it's all about creating lessons that we think are engaging, adapting on the fly, and then thoughtfully reflecting on them and making changes as necessary in the future. Also, different classes react differently, so it's all about reading the room and making changes as necessary.
Yeah, as an engineer I laughed out loud when he said we follow a predetermined path. On the contrary, the key thing that all the top professions have in common is simply being deliberate, and there's a healthy dose of creativity and adaptability needed as well.
Hire into a profession that has a pension like class 1 railroads. You’ll have one (6K monthly) plus your spouse will too. 12K monthly at 60 is easy living.
Any government worker with a pension has a good shot to become a millionaire.
I know a number of retired military who have a lot of money, also.
Work ethic
I work in a box factory, I'm on my way to the 1M mark.
High income helps but you have to have the financial literacy skills first. Congrats!
Also these jobs teach you skills that are very valuable as an entrepreneur.
I hit the millionaire mark at 52. I worked in a grocery store as a cashier.
😄😄
Yeah but what do you do now?
@@jaredgates4310 she can still be a cashier, there is nothing wrong with being a millionaire cashier.
@nohandletobehad I'm not saying there is. I'm just saying it's quite unlikely, especially nowadays when the cost of living is so high relative to a cashier's wages. More than likely this person was married to someone with a higher income, lived in a very low cost of living area, or won the lottery. Otherwise, they must have started saving incredibly early in life.
@@jaredgates4310 I fully retired and building up my portfolio as a hobby. I’m living off my small pension and dividends. I have no mortgage and no debt besides everyday expenses
The millionaires I’ve known are mostly business owners; landscaper, RV dealer, international auto broker, bar owner, etc. One thing they all have in common is they aren’t flashing their wealth.
For engineers, I think there’s a large gap in salaries. Software Engineer is where the big money is made especially in FAANG.
I'm a project engineer. I make a bit over $200k.
@@steveh5307 most SWEs I know make more or double that, but in high cost area.
@@steveh5307 most SWEs I know make more or double that but we live in high cost areas where housing prices are crazy. Need double incomes to buy homes near work.
I've heard many times that teaching is among the top 5 professions of millionaires. I wonder if the ranking is based on absolute numbers rather than percentages. There may be many millionaire teachers because there are many teachers. I wonder if the percentage of teachers that are millionaires is comparable to that of say, doctors or lawyers.
Yea but being a millionaire in New York will barely get you a studio apartment in the projects.
Teachers tend to have good benefits - good pension plan, TDA, or 403B. They also tend not to act like rich people and don’t suffer from lifestyle creep as much as some other professions. It’s not how much you make , it’s how much you save.
They are also one of the most common professions. They are also predominantly female. As a former teacher and having multiple teacher friends everyone of their husbands make more than them…
Reached $1m status at 32. A tax accountant. First job in 2018with the $55.5k starting salary and now making $140k
You do realize the math isn’t adding up. How are 32 making 140k but ur first job was 2018 and u made 55k and u are now a millionaire?
@@ogo316 Inheritance?
He surely lived well below his means and invested the rest.
@@ogo316Yeah. Even if they max 401k/Roth/HSA , it like $34k in 2024 and less in previous years. At most he would have like $180-$200k. No way that’s growing to $1million. lol.
@@ogo316 I replied the word for "the acquisition of real or personal property under the laws of intestacy or sometimes by will" followed by a question mark and my comment got blocked. I think this channel might be insecure about something...
As a CPA I’m on pace to hit one million before I’m 40 mainly because I’m currently 30 and making over $100k/year. Saving is important, but the amount you make is more important. Granted, you likely have more control over what you can save as opposed to your income.
Also, no rich person I’ve met has ever admitted they got to where they are because of help from family. I personally doubt many of them would still be in business if their parents didn’t co-sign their loans or even provide their own interest-free, unsecured loans with no payment terms.
Incorrect. The amount you make is less important than saving. There are plenty of people who made tens of millions of dollars and have nothing to show for it now.
@@Jumpman67 Compare that niche scenario to the 100,000,000+ people in the US making less than $50k a year. They’re lucky to save 10% of their income which can instantly be drained from a medical bill or a lawsuit.
@@Jumpman67yeah like some NBA players
@JakoWako hardly anyone ever gets sued though. I won't ever get sued. I know I likely won't. Eat healthy, take walks, get your sleep, don't drink or smoke and you won't be as likely to be in the hospital
It’s almost like being good at math helps with your long term financial success
I was going to post the same thing. Top 3 are most likely good at math. Also, I think certain professions require more patience and perseverance.
Your primary residence is an expense, not an asset, and is usually not considered when your financial advisor calculates your net worth when becoming an accredited investor. You are not a true millionaire unless you have at least a million invested for passive income.
This is a tough pill for most to swallow.
Disagree, it’s classified as a use asset. It’s also considered non-liquid, but it is still an asset. When I calculate my annual net worth statement I do a total net worth that includes all assets even use assets that I typically will not sell. Then I do a liquid net worth that doesn’t include the value of use assets or hard to liquify assets, but does still include the debts on any use assets. Which at this point is just my mortgage.
Any military millionaires? Hoping to say if I do the full 20 years and retire from the army I will be a millionaire on my first contract now 1 year down out of 6 as a 15q - air traffic controller.
You forgot to mention the EyeCandy and the Athletes of the Engineering profession. Of course I'm talking about Plastics Engineers. I mean sure, it's hard to describe what Plastics Engineers do. Think of Plastics Engineers as like flowers in a vase. They don't do much, but they're nice to look at and they have a pleasant aroma.
Most accountants aren’t millionaires. But there’s so many accountants statistically there will be more millionaire accountants
Mail carriers too lol
No surprising. However, teacher is very location dependent. Teachers here in the NE tend to make good money and get high pensions. New teachers have lower salaries but after 30 years, they make good money.
Hi. I'm not interested in money. What AI tool did you make this video with? As far as I know, this feature has been removed in CANVA. I would be happy if you inform me. Thank you very much.
Wow , if it's calculated based on Net worth I'm in the club too even after loosing hugely in divorce. 10th grade education self employed in the trades most of my life , never made much money probably about 50 - 60K and raised 4 kids . I don't think I'm well off but I do have that kind of Net worth
The divorce is unfortunate, but yeah... A lot of people save little to nothing. So natural savers like yourself (or trauma savers like myself) can pretty easily get well ahead of the saving spectrum.
But wealth isn't the same as riches. I will absolutely be wealthy; meaning that my resources will be the majority of my income for most of my life rather than my day job. But I'm not aiming to be rich where I'm driving lambos and going to Europe every year. I'm quite happy with a middle class lifestyle, and it only takes a few years of sacrifice to build up enough wealth on a normal income to support that. But the richer the lifestyle, then you need exponentially more wealth to support it... And that doesn't seem worth it to me.
What else would it be calculated on?
@@robertthompson5908
I was thinking money in the bank
Its good to take pensions into account. The net present value of a good pension is around $1M, so many teachers & public & government workers fall into that. For those of us without pensions, we would have to have at least a million dollars to safely generate that same equivalent income stream. Using the 4% rule, a million dollars in savings will only generate $40,000 per year and many pensions are far above that. Even the NPV of average social security is worth hundreds of thousands of dollars.
I suspect that teachers make the list because they are often married to someone with a much higher income. Teachers have extremely good benefits packages, so they typically don't have a high motive to save a lot.
And the lawyer income also doesn't sound right. Most layers work in medium to large sized firms where a large number of them are partners. Partners make very little in monthly income, but get a profit share of the company. So their employment income may be $50-75k, but then some years they may get nothing, while other years they may get $3-500k depending on how the company did that year. But that income is business income, not employment income, so that may be what is making that average look so low.
Public teachers here have very large pensions
Anything about marital status and children in those stats?
Yeah children suck all your money 😅
Interesting that doctors or surgeons weren’t on this list.
Had a neurosurgeon in the family. I have witnessed and heard many times that doctors are often poor money managers. Lifestyle, student debt, large houses, sports cars, airplanes, boats, expensive wives, expensive hobbies, etc. Also financial predators who target doctors in large and small ways. I learned a lot over time by these observations.
These categories are a result of bad math for instance if you look at careers most likely to produce millionaires by percentage of total population that does the career you would find attorneys, doctors, specific types of engineers, and specific industry management such as software. What they did in this study is they talked to 10,000 millionaires they didn't talk to 1.3 million attorneys I imagine if you took the aggregate population of attorneys and compared it to attorneys you would find on average attorneys are far more likely to be millionaires. Also this doesn't take into consideration environmental factors that previously had lead to teachers becoming wealthy such as an amazing stock market, low cost of living, property appreciation over the last twenty to thirty years. When you take date like this and draw off teachers are one of the top careers it's disingenuous also you have to look at how many teachers are there in America versus other professions. So, there will be a natural distribution that some percentage of them will be millionaires.
Thanks for your opinions. But unfortunately you’re just saying stuff and have zero information to back it up.
@@Jumpman67 Wow, fantastic feedback. Thank you so much, but seriously bro these are unreasonable take aways. The study they did said we interviewed 10K millionaires of them X percentage were these groups. The conclusions derived are influenced by the sampling, what I said is accurate entering into a profession such as teaching with the goal of becoming a millionaire is unreasonable. The practical application of the information provided is nullified by it's ineffectual gathering. What I have proposed could not be implemented and I understand that however what I'm saying is logical.
Teachers can also be college professors
@@tam6011 right but averages
@@johnnyappleman7159 I get what you trying to say but I know several teachers who are millionaires. They save and limit their budgets. We are not talking 25 years olds. These are 50 to 55 and they have been teaching since they were 21. They didn’t have student loan debt. Different time
Just by inheriting the family home most ppl will become millionaires now.
Interesting… ppl in those careers do not gamble with their assets but invest long term by following their own safe and promising rules.
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One day this information won't be free. 😂
This information has always been out there. Individuals capable of dedicating themselves to long term financial goals are rare.
This engineer hit the mark at age 49.
Congrats! I’m not there yet but I’m hoping to get there soon.
Congratulation 🎉
Must feel really nice!
Odd how when getting older, you connect the dots on how things works and you wish you knew this stuff eariler. So for younger folks, living below your means and investing early.. is a super power, use it if you can.
Doctors?..
They are 6th on the list in the study quoted.
They are mostly show offs
Something is off. Where are the physicians ?
Probably drowning in medical school debt..
Good
Lawyers... so much for my belief that most millionaires are actually very ethical even kind people
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Do you invest with a professional broker?? I'd appreciate it if you showed me how to go about it.
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