Unless you were born into a rich family, building wealth can be very hard — depending on the path you choose. Many people look at multi-millionaires and desperately want to know: What’s their secret? How did they get there? What does it take?
This self-made millionaire says you’re in control of your own finances — and the sooner you internalize that, the sooner you can start to go on the offense. The first step is to acknowledge some of the biggest money lies young people tell themselves.
Change is a constant and continuous process in life. As we grow older, we change how we dress, what we eat, where we live and who we become friends with. Yet when it comes to how we use our time and money ― especially for high earners and wealthy individuals ― we tend to be more resistant to change.
Before wealth manager and author David Bach made his first million, he was a brand new financial advisor in his early twenties, he tells CNBC Make It: “We had someone come and talk to our training class, and as he walked out the door, he handed us this chart.”
According to the latest figures from Wealth In sight, 48, 800 millionaires reside in South Africa. This suggests that data showing that skilled and wealthy South Africans go abroad for greener pastures may not be true. Juerg Steffen, CEO of Henley & Partners joins CNBC Africa for more.
How close are you to becoming a millionaire? You might be on track to hit that milestone at a much earlier age.
A new report from AfrAsia Bank and New World Wealth reviews the top spending habits of the wealthy in Africa.