7 things Rich People do Differently


Secrets of wealthy people?

Do millionaires they know something we don’t? 

Let’s expand our horizons by considering what we can do or think differently to grow our money. 

Here are 7 things rich people do differently. 

This article was written by a Financial Horse Contributor.

1. Focus on assets

Wealthy people focus on accumulating assets. 

More than ever, it is obvious that savings sitting idle will get eroded by inflation.

If you want money to grow, focusing on assets is your best bet to get significant returns.

In the past few decades, especially in land-scarce Singapore, most of the millionaires were made from property gains. 

In the future, things may be changing but the same principles on investing in assets apply. 

There are also more opportunities than ever to invest.

S-REITs that own Singapore real estate properties are required to distribute at least 90% of their specified taxable income to unitholders in order to qualify for tax transparency treatment.

An increasingly diverse spectrum of ETFs have also opened up opportunities to investors to expand geographical and sector alllocation within their portfolio. 

There are more types of investments available to retail investors, at lower costs.

2. Investing > Savings

One common thread that millionaires are focused on is investing.

While striving for a high income is obvious, putting the money to good use is the difference between a high-income earner and a wealthy person who can sit on the beach (whenever they feel like it).

Consistently investing as a non-negotiable habit makes you rich.

Wealthy people invest

  • Early
  • Consistently
  • Patiently


3. Willing to invest in themselves and their network 

Wealthy people invest in themselves.

They know that they only have 1 life, 1 body to make it happen and they take care of their mind and body.

Wealthy people make sure to invest in their knowledge and health. 

According to the Millionaires Next Door, millionaire investors spend more time — an average of 10.5 hours a month — planning for investments.

That’s nearly two hours more than under-accumulators of wealth.

“Their literacy in financial matters means that they are more tolerant of taking investment-related risks,” Stanley Fallaw wrote.

“Future outlook and financial knowledge typically relate to taking greater financial risk, so the time they spend in managing and researching investments helps in decision-making.”

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Wealthy people also know the value of their network.

Networking is a 2-way street. 

By focusing on what they can bring to the table, you naturally attract other high-achieving individuals.

4. Spend wisely

Wealthy people know how to earn money, and spend it wisely. 

At the end of the day, it’s about the amount that goes into savings and investments that makes you rich.

What you spend on, needs to be intentional.

That is not to say that rich people don’t spend, that is certainly not true.

But they do spend intentionally.

Flashy cars, jewellery or luxury goods are not necessarily bad ways of spending, if it’s intentionally accounted for. 

The key is knowing what you are spending on, and getting the appropriate return on it.

Self-care and rewarding yourself for your hard work are perfectly valid reasons for spending as well – as long as you are in control of your money.

5. Good debt

Millionaires use leverage to their advantage.

To get rich, leverage is part of the equation.

To become a high net worth individual, you have to get comfortable with debt.

Risk management is part and parcel of handling and growing money.

6. Don’t be a sheep

Wealthy people are comfortable being different from others. 

According to 5-year study on millionaires, millionaires don’t follow the crowd.

“We so desire to blend in, to acclimate to society, to be a part of the herd, that we will do almost anything to avoid standing out in a crowd,” Corley wrote. Failure to separate yourself from the herd, he said, is why most people never achieve success.

Instead, successful people create their own new herd, he said.

“You want to separate yourself from the herd, create your own herd, and then get others to join it.”

7. Stretch goals

Multi-millionares don’t get there by playing small.

You have to aim big to live big.

One good strategy is to set stretch goals for yourself.

When considering goal-setting, think:

  • What would I do if I could not fail?
  • Could I aim higher?
  • Could I achieve the same goal in half the time? What would have to change?
  • Is fear holding me back?
  • Is a limiting belief stopping me from aiming higher?

Instead of I don’t know or I can’t:

  • I can find out
  • I can learn 
  • I can grow
  • I will
  • How can I….
  • What if….
  • Maybe not now, but in the future…


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