How wealth is accumulated is often misunderstood. Thomas Stanley wrote the book “The Millionaire Next Door” which was a best-seller a few years back. The people he studies are financially secure. This book takes a deeper look into how these people think and make their money. It slashes through the false images of wealth often portrayed by mainstream media of private jets and homes on remote islands and deals with the real world.
It appears many people now feel that in order to be "rich", they need to be worth an average of $2.3 million. This amount is more than 20 times the actual median net worth of U.S. households. It is difficult to reconcile the fact that 60% of the millennials say they believe they will be wealthy "within 1 to 10 years" considering that 59% of those surveyed said they still live paycheck to paycheck. More on the subject of wealth in America in the article below.