More than 8% of American adults are millionaires. Here's how they got wealthy
Odds are you know at least one millionaire.
More than 8% of adults in the U.S. have enough assets to fit the definition, according to the Global Wealth Report 2020 by Credit Suisse. That works out to more than 20 million Americans.
Chris Hogan, radio host and author of the book "Everyday Millionaires," surveyed more than 10,000 of those wealthy individuals to figure out their secret to success.
Hogan quickly learned that most millionaires aren't the jet-setters you see on television.
"These are regular, hardworking, everyday people. They're not flashy," he said. Most of them accumulated their wealth over time by making wise decisions, according to Hogan.
And having a particular mindset almost universally contributed to their success, Hogan said. He found that around 97% of millionaires surveyed believed they were in control of their own destiny.
That is much higher than the 55% of the general population Hogan found to hold the same opinion.
Check out this video to see the other beliefs and practices that more than 90% of millionaires apply to their money.
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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.