Question of the Day: What are the 5 careers that produce the most millionaires?
You might learn something from one of the answers...
Answer: Engineers, accountants, management, attorneys, and teachers
- Were you surprised by any of the careers listed as producing the most millionaires? Why or why not?
- While these careers produce many millionaires, they also require varying levels of education, time commitment, and potential student loan debt. How should one weigh these factors when considering a future career?
- Becoming a millionaire doesn’t solely rely on a high salary. What financial habits or strategies might these professionals employ to accumulate wealth?
Behind the numbers (Yahoo Finance):
While these careers strongly correlate millionaire status to a higher education, that didn’t require attending a swank school. In fact, only 8% of those in the study attended “prestigious private schools,” with 62% attending state schools.
And one crucial detail to note: Millionaire status doesn’t equal sky-high salary.
“Only 31% averaged $100,000 a year over the course of their career,” the study found, “and one-third never made six figures in any single working year of their career.”
On top of that, the millionaires in the Ramsey survey didn’t necessarily hold senior leadership roles: Only 15% belonged to that category. By contrast, more than nine in 10 (93%) said they got wealthy because they “worked hard.”
How did a school custodian become a millionaire? Jeff York spills the secret in this NGPF Podcast.
NGPF's Career unit will help set your students on the path toward future success.