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Having the ‘right’ friends may hold the secret to building wealth, according to new study on socioeconomic ties

  • Written by Brad Cannon, Assistant Professor of Finance, Binghamton University, State University of New York
Having the ‘right’ friends may hold the secret to building wealth, according to new study on socioeconomic tiesA study finds that making friends with wealthy individuals plays an important role in shaping financial behaviors.Nicola Katie/Getty Images

Having wealthy people in your social network significantly boosts the likelihood that you’ll participate in stock markets and savings plans, according to a new working paper I co-authored.

My colleagues...

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