The new rich by Claudia Sonea

According to a research made by a private wealth consultant Advanced Planning Group there is a new class of rich people that are hard working, dedicate and ambitious. Until now sounds great, but there is another side that holds them back, they have a fortune between $1 million and $10 million dollars, but they are still middle-class citizens. Private wealth specialists Lewis Schiff and Russ Alan Prince revealed that the number of people who can be called millionaires had risen 7.6 percent of the US households. These newly enriched people guide themselves after middle class values like earning their money from hard-work (70 hours a week) and moving in safe neighborhoods based on the quality of schools, because their children will choose a career based on its likely earnings. Schiff stated that middle-class millionaires accumulated wealth and they spend it more on things related to family like health and welfare of their family, career development. Usually they start spending money on leisure and luxury activities when they move up the social ladder. The research showed that 89 percent of middle-class millionaires believed anyone could attain wealth through hard work; also they are three times as likely to belong to a networking group, while their constant availability to work by phone or email is five times more likely. The main characteristic is that middle-class millionaires put themselves in the flow of money. All this makes them a strong factor of influenza on spending, habits of their middle class counterparts. Furthermore, their desire to acquire yachts and other luxuries determined the super-rich to change their spending, looking for something new and innovative. The study was made on 3600 people, 600 millionaires and 3,000 middle-class people, with the purpose of gathering material for the new book of Schiff and Prince, called "The Middle Class Millionaire: The Rise of the New Rich and How they are Changing America". It is nothing new that there is a new class of millionaires; history marked several metamorphoses of the social class. It was aristocracy in the beginning, then bourgeoisie and now the middle-class millionaires. Stay connected and see how you can become a millionaire.

related story: http://news.yahoo.com/s/nm/20071101/lf_nm_life/wealth_millionaires_dc;_ylt=AujcI.y6Onbqg04TGxgjASus0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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