‘Moneyball’ and ‘Big Short’ author Michael Lewis says elite rich Americans often overlook these factors that are key to their success

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In the United States, the American dream is founded on the notion that with absolute dedication to one's work and unwavering effort, an individual can achieve unprecedented levels of success and amass considerable wealth.

Many people think that our society is a meritocracy, and as a result, they often idealize those with enormous wealth, assuming they're significantly more intelligent and industrious than the general population.

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• Save you over $600 annually.
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• You can boost your finances without dramatically changing your daily routine.

The truth is actually more complex.

from the Emmy-nominated interview series, "Brief But Spectacular."

What does good fortune have to do with it?

it appears that the wealthiest individuals were not necessarily the most gifted, but rather the luckiest.

In an article about the study, “Some individuals put in more hours than the average worker, while others work fewer hours, but no one works an exponentially higher number of hours than the next person.”

About one-third of the individuals (32%) came from a wealthy background and had inherited wealth, while 43% had a wealthy upbringing without an inheritance, or a middle-class upbringing supplemented by some inheritance.

You don't have to come from a wealthy family to learn from the paths taken by successful individuals.

3 simple ways you can quickly get caught up:

Get a mentor

It's crucial to their growth in the future.

Get smarter

They have made their fortunes in finance or technology. And, while there are many notable exceptions, typically one needs an advanced degree to move up in these fields.

Take the initiative and do things on your own.

Most of America's wealthiest individuals started their own businesses - a method that can indeed create one's own luck. However, to achieve this, you'll need to take on some level of risk. Statistics from the Bureau of Labor Statistics show that nearly one in five new businesses don't make it past their first year and less than 35% survive until around 10 years.

Switch up your career

For individuals who change jobs, a 10% raise every couple of years can have a significant impact on their lifetime earnings.

It's also worth considering — and discussing with a financial advisor — whether you should take more risk with your investment portfolio. If you have a long investment timeline, you may be able to handle taking more risk and potentially earning higher returns than you are now.

What to read next

• Here's how to get started with as little as $10 investment.
• But going 2 minutes slower could put over $600 in your pocket by 2025.
• To Be Among America's Richest - Plus 2 Ways to Build That First-Class Portfolio

This article is for information purposes only and should not be taken as advice. It is offered without any guarantee of its contents.