Everyday Millionaires | Champlain College Presents Wealth Building Habits That Actually Work

What does it really take to build wealth? Hint: it's not a big inheritance, a lucky stock pick, or a six-figure salary. Get into the real data behind how everyday people build extraordinary wealth with John Pelletier, Director of the Center for Financial Literacy at Champlain College. Drawing from surveys of more than 20,000 millionaires, Pelletier separates financial fact from fiction and details the financial habits that lead to wealth, enabling “ordinary” individuals to achieve millionaire status. _Key takeaways from this session:_ * Most millionaires did not inherit their wealth. They built it on their own. * The average millionaire reaches the milestone through discipline and consistency. * A third of millionaires never earned a salary of $100,000 or more. * 96% of millionaires have never carried a credit card balance. * The power of compound interest means starting good saving habits early can have a greater impact than waiting until acquiring greater earning power. * Millionaires pay cash whenever possible, and many are not shy about using coupons when they shop. Pelletier also tackles common myths: the belief that high income equals wealth, that millionaires take big financial risks, or that you need an Ivy League education to get ahead. The data tells a different story: financial success tips rooted in consistent saving, smart investing, and other financial planning basics are what separate wealth-builders from everyone else. _Explore how Champlain College builds essential life skills like financial literacy into higher education:_ https://bit.ly/champ-insightprogram This session is the first in a four-part personal finance series presented by Champlain College's Center for Financial Literacy, which has served individuals and communities nationwide through its research in and advocacy of financial literacy since 2010. The Lunch & Learn series, hosted by the Office of Alumni Relations, is a space for Champlain alumni, faculty, and staff to reconnect, l