With all the talk of Russian billionaires and the growing wealthy class in China, America still takes the top spot for where the rich are getting richer.
New research out by the Boston Consulting Group projects that, globally, the share of the world's wealth held by the richest 1% will only continue to rise.
But the U.S. is leading the charge for the share of private wealth held by millionaires and billionaires, according to Bloomberg's report on the study. So where's all this wealth coming from? Turns out it's from existing assets that are increasing in value (based on the performance of stocks, bonds and cash), and not from new wealth creation (new savings, jobs and entrepreneurship).
About 72% of the growth in U.S. wealth comes from existing wealth, while in most of the rest of the world, more than half comes from new money.
The takeaway in all this? Investing can still play a huge role in helping to build your net worth — even if you're not in the 1%.
If you haven't dipped your toes yet into investing, here are answers to some commonly asked questions to help you get started.
If you think you're ready to open your first brokerage account, then get to know these key terms first.
And finally, if you're curious to see the approach other people have taken with their portfolios, check out how these three people have put together a strategy, based on their individual goals.
No investment strategy can guarantee a profit or protect against loss. All investing carries some risk, including loss of principal invested.