Where do millionaires keep their money?

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By Nick

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Wondering where millionaires stash their cash? They invest in a range of financial and real assets, such as stocks, mutual funds, retirement accounts, and real estate. Diversification is key to spread out risk, and many max out contributions to retirement accounts for tax benefits. Real estate can provide steady rental income and appreciate in value over time. Hard work, smart investments, and savvy financial decisions earned most millionaires their wealth. Inheritances account for only 21% of millionaire status. With 24.5 million millionaires in the US in 2022, it’s worth knowing how they manage their money.

Where Do Millionaires Keep Their Money?

When we think of millionaires, we often picture them living in luxurious mansions, driving fancy cars and wearing designer clothes. But have you ever wondered where they keep their money? High-net-worth individuals put their money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate.

According to a recent report, there were 24.5 million millionaires in the U.S. in 2022. And only 21% of them inherited their wealth. This means that the majority of millionaires have earned their money through hard work, smart investments and savvy financial decisions.

Stocks and Mutual Funds

One of the most common ways millionaires invest their money is through stocks and mutual funds. These investments offer the potential for high returns, but also come with a higher level of risk. Many millionaires have a diversified portfolio, meaning they invest in a variety of stocks and mutual funds to spread out their risk.

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Retirement Accounts

Another way millionaires keep their money is through retirement accounts. These accounts offer tax benefits and can help individuals save for retirement. Millionaires often max out their contributions to retirement accounts each year to take advantage of these benefits.

Real Estate

Real estate is another popular investment choice for millionaires. They may own multiple properties, including rental properties and vacation homes. Real estate investments can provide a steady stream of income through rental income and appreciation in value over time.


In conclusion, millionaires keep their money in a variety of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. While these investments offer the potential for high returns, they also come with a higher level of risk. It’s important for individuals to do their research and consult with a financial advisor before making any investment decisions. By making smart financial decisions, anyone can work towards becoming a millionaire and achieving financial success.

References for « Where do millionaires keep their money? »

  1. « How Do Millionaires Bank? » by Rebecca Lake, Investopedia
  2. « How millionaires invest their money to keep it growing » by Kathleen Elkins, Business Insider
  3. « Where Do the Super Rich Keep Their Money? » by Dan Caplinger, The Motley Fool
  4. « What millionaires do with their money, according to Morgan Stanley » by Kathleen Elkins, CNBC
  5. « How the Rich Invest: A Guide to Getting Even Richer » by Paul Sullivan, The New York Times

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