10 Smart Habits we can Learn from the Wealthy

Today I thought I’d share this post on habits that the elite have that might help us get inspired. Some great tips here include owning real estate, budgeting, and more.

Millionaires Own Real Estate

The overwhelming majority of millionaires own real estate, making it by far the most popular alternative asset class. That includes their own home, second homes, investment properties, and fractional ownership of investment properties through partners or programs like Arrived Homes and Roofstock One.

1

…But Their Own Homes Are Modest

Throw out your preconceptions about mansions and sprawling estates. Almost two-thirds of US millionaires live in modest, middle-class homes, per Tom Corley’s research.

2

They Live on a Firm Budget

The overwhelming majority of millionaires impose a strict budget on themselves. Fancy dinners out, going to the movies all the time, frequent clothes shopping, monthly massages, weekly pedicures, buying the flashiest car you can, and then replacing it every two years?

3

Their Money Works for Them

As we touched on above, budgets aren’t about denying yourself, they’re about creating that feedback loop to generate more income and wealth.

4

They Invest in Themselves

Investing in yourself includes education, but it doesn’t end there. Formal education is a great start, from a college diploma to a graduate degree.

5

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