Actionable Steps to Building 7 Income Streams Like a Millionaire
Tackle your misconceptions about millionaire money and start growing your wealth today
Published in
11 min readSep 8, 2020
Have you ever wondered what the income streams of millionaires are? I recently watched Graham Stephan’s video on the topic (a Millennial and a millionaire). He referenced a study, published by the IRS, which studied the tax returns of a sample of 6,053 wealthy individuals who died between 1996 and 2002, as well as the work of Tom Corley, author of ‘Rich Habits,’ who studied the habits of millionaires during a five-year study.
His research intrigued me, but I wanted to further it through making it more practical.
My article is aimed at three things:
- providing a concise summary of the two studies
- highlighting glaring misconceptions we still have about millionaires
- demonstrating how anyone can start building income streams today, which will place them on a promising path to becoming a millionaire
Let’s dive in.
What research tells us about millionaires and their income
To summarise, the IRS’ study shows that wealthy people build up to 7 income streams:
