Questions of wealth answered
While solid definitions of what it means to be wealthy are difficult to come by, it seems many millionaires still take a “mum and dad” approach to investing their cash.
Talking to the Advertiser, wealth expert Mark Mackintosh said that many millionaires are looking for investments that will keep their money safe, much like parents do when they’re choosing a bank account.
And in terms of what it takes to get to the top, money advice site founder Peter Gray added that in most cases it was “mainly the result of a lifestyle of hard work, perseverance, planning and, most of all, self-discipline’’.
Meanwhile, the consumer guru reminded the average Aussie that wealth isn’t everything.
”I know some very wealthy people who aren’t rich in other areas of their life," he said.
In a separate article, the Advertiser also advised Aussies looking to build their wealth that patience is the key to good investment.