45% of Americans say this is the best way to build wealth—but only a fraction are doing it
Publishing timestamp: 2023-10-13 13:24:49
Summary
The majority of Americans do not believe they will ever be wealthy, according to a survey by LendingTree. Only 20% of adults currently feel wealthy. Most adults define wealth as financial security and comfort rather than specific milestones like a six-figure salary or million-dollar net worth. Real estate is seen as the best way to build wealth, with baby boomers being the most likely to invest in it. However, owning property itself is not what makes people consider themselves wealthy. Americans believe that being able to live comfortably without financial concerns and having financial security define wealth. Many believe that making at least $100,000 a year is necessary to be considered wealthy. Younger generations are more optimistic about their wealth prospects and have more faith in the stock market. They understand the advantage of having more time for investments and savings to grow.
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Tickers: TREE,
Keywords: real estate, personal finance, barbara corcoran, lendingtree inc,
Source: https://www.cnbc.com/2023/10/13/americans-say-this-is-the-best-way-to-build-wealth.html