We’re a cynical bunch in the UK.

(At least we admit it)

But while that pessimism stops us from having the wool pulled over our eyes, I’ve noticed it also stops some of us from getting ahead.

Most people I talk to say wealth comes from:

• High income

• Rich parents

• High-status personal connections

From where I’m standing, that’s a checklist for the kind of lifestyle most people can only dream of having.

Let me know where to apply 😅

But is it true?

Are the rest of us really “locked out”?

Or is that just the good-old British cynicism we love and take for granted?

Over in America, they’ve crunched the numbers.

Financial author Dave Ramsey conducted the largest ever survey of millionaires (10,000 people.)

The results:

• 8 out of 10 invested in a 401(k) (basically their version of the British pension)

• 79% did not receive any inheritance at all from their parents or other family

• The most common careers were engineer, accountant, teacher, management, and attorney

• None of them bet the farm on a hot stock tip or a ‘can’t-miss opportunity’"
• BUT 3 out of every 4 said consistent investing over a long period of time leads to success

The study authors concluded:

“... few Americans today really believe they have what it takes to become wealthy. They’ve fallen for the myth that in order to be a millionaire, they need a big income or a rich family.

“But The National Study of Millionaires by Ramsey Solutions proves that these beliefs about how millionaires got their money are wrong. Flat wrong.”

Ultimately, it’s like that old fable of the ant and the cricket.

The cricket sings all summer long, while the ant lays up a store of food for winter.

When the frost falls, the ant feasts.

Meanwhile, the hungry cricket begs for scraps.

But you don’t have to work quite as hard as the ant—when it comes to investing.

The best approaches are mostly “hands free” once set up.

Dr. James Martin

(The Financial Sherpa For Dentists)