5 lessons the rich can teach you.

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We all know that the rich generally live unassuming lifestyles and don't drive the latest and greatest vehicles. After all, how would they have accumulated their wealth in the first place. MSN Money has an excellent article with 5 lessons the rich can teach you.

one of the highlights:

so where do the wealthy put their money?

Most of their wealth is investments:

* 46% in stocks and bonds, managed accounts, IRAs, mutual funds, deposits and alternative investments
* 10% in pensions and defined-contribution plans like 401(k)s
* 6% in insurance and annuities

There are also some indications that wealthier Americans are cutting back their exposure to real estate. The percentage of people with net worth over $1 million who own investment property shrank to 44% in 2005, down from 50% in 2004, according to TNS Financial Services, a market-research company.

Comments

Anonymous said…
I saw your blog on MyBlogLog.com and noticed that you're from Canada
I am looking for other Canadians bloggers to collaborate with. Let me know if you are interested.

Best,

Monty Loree - Webmaster
http://www.canadian-money-advisor.ca

BTW... are you interested in joining the Canadian Tour of Personal Finance blogs. May 7th?

Let me know.

thanks
April 26, 2007 at 6:57 AM
torontoinvestor said…
Hi Monty, I certainly am interested in collaborating with you. Sorry that I didn't get around to responding until now. I must have missed a notification earlier. Give me a shout sometime!
December 2, 2007 at 12:51 AM
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