Engineers Better Than Doctors and Lawyers at Turning Income Into Wealth

Engineers Better Than Doctors and
Lawyers at Turning Income Into Wealth

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Engineers are more successful than doctors and lawyers at
transforming income into wealth, according to a new survey
by American wealth reseacher Thomas Stanley.
The survey, conducted by the University of Georgia Survey
Research Institute, was published in Stop Acting Rich…And Start
Living Like a Real Millionaire. The book is the latest in a series
by Stanley that explores the minds and behaviors of the wealthiest
Americans. In it, Stanley attributes engineers’ wealth-building
capacity to a thrifty nature.
“Engineers in general are a frugal group,” writes Stanley. “They
are less likely to favor expensive status-denoting products and
brands than other groups. For many of them, substance, design
and endurance are more important factors in selecting a product,
even a home, than showy style and status connotations.”
Interviews were conducted with more than 1,500 respondents,
representing more than 5,000 households from neighborhoods
with a high estimated incidence of millionaires, whom Stanley
defines as having $1 million in investments, excluding their homes.