Ever pondered over where the wealthiest stash their funds? The rich, especially self-made entrepreneurs, diversify their assets into multiple avenues. From stocks and mutual funds to tangible property, they have a range of investments.
But here’s a revelation: a significant portion of millionaires remain quite frugal. To grow their wealth, they opt for both essential and select luxury purchases, always with a saving mentality.
A noteworthy strategy? Holding a substantial chunk, roughly 25%, in cash or similar assets. This strategy ensures they’re cushioned against market downturns. Plus, their engagement with exclusive private bankers makes their banking experience distinct from the average individual.
Then there’s real estate. Spanning two centuries, real estate remains a prime avenue for millionaires to not just make, but also preserve their wealth. From luxury homes to commercial properties, their real estate portfolios are vast and varied.
So, what else lies in the arsenal of millionaire money moves?
[Click here to unravel more millionaire financial strategies.]
