According to Preston, it’s more attainable in the 30s, but in the 40s, it might not require a special business idea or entrepreneurship. Instead, it might just require good decision making and time to find yourself in that place.
The average income for someone in the top 1% in their 40s is nearly $22,000 in 2023, and it’s important to note that most millionaires hit this status around 47 years of age. This is because you need to have enough time for discipline, margin, and invested money to actually grow. The median net worth of someone in the top 1% in their 40s is about $8 million, which is a lot of money but not unattainable for someone who has had some career success and made wise decisions with their finances.
I have found that people in their 40s have figured out how to help others find success and have an abundance mindset. They also tend to prioritize their health and make it one of their top priorities. This is not to say that healthy living results in financial well-being or vice versa, but it is interesting to see these two seem to be married together for folks in their 40s.
In conclusion, it takes discipline, good decision making, and time to be in the top 1%. It’s important to have an abundance mindset and prioritize your health to achieve financial success in your 40s.
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