caption How much does it take to be a rich millennial? source Christian Vierig/Getty Images Becoming a rich millennial isn’t impossible. A financial planner shared the key steps people should take at milestone millennial ages – 25, 30, 35, and 40 – to build wealth. Millennials should be all about financial goals: identifying and prioritizing them, carrying out both short-term and long-term goals, and reassessing them as they enter a different life stage. Visit BusinessInsider.com for more stories. There’s really no one way to define “rich” – everyone measures wealth in different ways. “I know many people who make less than $50,000 but consider themselves wealthy because of their health, family, and friends,” Douglas A. Boneparth, CFP and president of Bone Fide Wealth, which offers financial planning and advice to high-net-worth millennials, told Business Insider. But when talking pure dollars, it helps to understand what the top 1% of the country earns and has in terms of their net worth. “From an income standpoint, the top 1% of households earn around $430,000,” Boneparth said. “From a net worth perspective, it’s north of $10 million.” Whether you define rich as $50,000, $100,000, $1 million, or $10 million – or as quality… Read full this story
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