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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: pass pass who wrote (49308)	10/1/2003 8:53:40 AM
From: Ron McKinnon	Read Replies (2) of 53068

>>>>I read somewhere that the majority of the millionaires made their fortune from first, I am not sure that being worth a $million today would be defined as having a "fortune" not sure of the number but I think I read a few years back that there were some 3mm "millionaires" in the US wouldnt be surprised today if there were not 5-10 million, millionare families if you go below say the top 1000 on the "richest" list the CEO's like Gates or Grasso (gggg), the entertainers, the atheletes, and the trust fund families I would think there is a huge number of American families with wealth of $1-10,000,000 where did the money come from? --small business owners --the huge increase in home values (my parents bought their very modest home in 1963 for 12k, now worth 30+ times that) --people who simply saved, 401k's, other tax deferred accounts for 20-30-40 years, didn't touch a dime, let it compound --people who bought one of more great stocks and put them away (like the story I told of someone who bought PFE and put the certificates in a safe deposit box for decades and saw it grow 100's of times --etc what used to be a fortune may no longer be one

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