Here’s how to be far richer than a millionaire

WASHINGTON >> I used to watch the game show “Who Wants to Be a Millionaire” and dream of answering that final trivia question to win my way into a world of wealth.

But the reality is I can barely remember where I last put my eyeglasses, so I doubt I could recall enough trivia to win $1 million.

Luckily, you don’t have to win on a game show or hit the lottery to join the ranks of millionaires. The vast majority of them simply work and invest their money to achieve a net worth that has two commas.

The number of millionaires worldwide is estimated to increase over the next five years, reaching an all-time high of 55 million, according to Credit Suisse Research Institute’s latest Global Wealth Report. There are currently 42.2 million millionaires in the world. Within the last 12 months, the U.S. added 878,000 new millionaires — representing around 40 percent of the global increase.

But two researchers have a message for you. You don’t have to literally be a millionaire to have a rich life. It’s all about your perspective on prosperity.

Consider this: A person needs net assets of just $4,210 to be among the wealthiest half of world citizens in mid-2018, according to that Credit Suisse report. To be in the top 10 percent, you would have to have a net worth of just $93,170.

Want to be in the top 1 percent? It would take a net worth of $871,320. Net worth, or “wealth,” is defined as the value of your assets, including real estate (mainly your personal residence), minus your debts.

At the lower level of the wealth distribution, 3.2 billion

adults — or about 64 percent of the world’s adult population — have a net worth below $10,000.

Many struggle with having enough to eat, not whether they can eat out.

Although you may never become a millionaire, there are things you can learn from those who have become affluent and others who are likely to join their ranks.

So let’s look at the millionaires among us. This month’s pick for the Color of Money Book Club is “Richer than a Millionaire: A Pathway to True Prosperity,” by William D. Danko and Richard J. Van Ness.

You may not know Danko by name but have probably heard of his research on the rich. He is co-author of “The Millionaire Next Door,” which has become a mustread for its groundbreaking examination on wealth in America. Along with his co-author Thomas J. Stanley, Danko introduced us to seemingly ordinary folks who had amassed extraordinary wealth.

Studying the affluent led them to this conclusion: “Most people have it all wrong about wealth in America. Wealth is not the same as income. If you make good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.”