In wealth and success, there’s often more than meets the eye. While we may assume that the wealthy live lives of unbridled luxury, the reality is far more nuanced. Many wealthy individuals have cultivated unique habits that set them apart from the average person.
These practices often contribute significantly to their success and continued prosperity. Let’s explore ten unusual habits that rich people tend to have, which are less common among those with less financial resources.
1. Rise and Shine: Extreme Morning Routines
The dawn of a new day brings opportunity, and wealthy individuals are known to seize it with gusto. Take Oprah Winfrey, for instance. The media mogul starts her day with 20 minutes of meditation, setting a tone of mindfulness and clarity. The tech entrepreneur Elon Musk goes further by scheduling his entire day in five-minute blocks, maximizing every moment.
These extreme morning routines starkly contrast with the typical rush-and-run morning’s many experiences. While the average person might hit the snooze button repeatedly, the wealthy are already conquering their day. This early start allows them to tackle important tasks, develop personally, and strategize before the world fully wakes up.
Most wealthy people wake up every morning and start their productive days at times that ordinary people consider very unusual, especially when they are already rich and don’t need to get up that early.
2. Penny-Wise: Surprising Frugality of the Wealthy
Contrary to popular belief, many wealthy individuals practice surprising levels of frugality. David Cheriton, a billionaire professor and early Google investor, is known for saving half his restaurant meals for the next day and cutting his hair for years.
This behavior might seem at odds with his vast wealth, but it’s a common trait among the affluent to continue frugal lifelong habits even after becoming wealthy.
While those with less means might splurge on payday or succumb to impulsive purchases, the wealthy often maintain a frugal mindset. This approach isn’t about deprivation but valuing resources and avoiding unnecessary expenditures. Such habits contribute to preserving and growing wealth over time.
3. Knowledge is Power: The Rich’s Reading Obsession
Wealthy individuals often display an insatiable appetite for knowledge. Warren Buffett, one of the most successful investors in history, famously reads up to 500 pages a day. He believes that knowledge compounds like interest, continually building upon itself to create greater understanding and opportunity.
This voracious reading habit is less common among those with fewer financial resources, who may lack the time or inclination for extensive daily reading. The wealthy, however, view reading as an investment in themselves, constantly seeking new ideas and insights that can fuel their success.
4. Quirky Investments: Unconventional Wealth-Building Strategies
The rich often diversify their portfolios with unconventional investments that might seem impractical or extravagant to the average person. These items, from rare paintings and vintage watches to collectible toys and stamps, can appreciate significantly over time. For example, a rare Patek Philippe watch sold for $31 million in 2019, showcasing the potential of these unique investments.
While those with less wealth typically focus on traditional savings accounts or mainstream stocks, the affluent explore diverse asset classes. This approach not only hedges against market fluctuations but can also lead to substantial returns on investment.
5. Health is Wealth: Eccentric Wellness Practices
Many wealthy individuals engage in unusual health practices beyond regular exercise and balanced diets. Tony Robbins, the famous life coach, swears by cryotherapy and takes ice-cold plunges after sauna sessions. These extreme temperature variations are believed to boost metabolism and improve mental clarity.
Such eccentric wellness routines might seem excessive to those struggling to afford primary healthcare. However, for the wealthy, these practices are viewed as essential investments in their physical and mental well-being, ultimately supporting their ability to perform at high levels.
6. Strategic Socializing: The Art of Purposeful Networking
Wealthy people often approach socializing strategically and build relationships that can lead to new opportunities or collaborations. They attend exclusive events, join high-profile boards, and seek mentorship from other successful individuals. This purposeful networking creates a powerful web of connections to fuel further success.
In contrast, those with less financial means may socialize primarily for pleasure or within their existing circles. The wealthy view every interaction as a potential stepping stone to more personal and professional achievement, carefully cultivating relationships that align with their goals.
7. Playing the Long Game: Mastering Delayed Gratification
Wealthy individuals excel at delaying gratification, focusing on long-term investments rather than immediate pleasures. This might mean reinvesting profits into a business instead of splurging on luxury items or living below their means to accumulate wealth over time.
Those with less financial security often struggle with this concept, opting for immediate satisfaction due to pressing needs or a scarcity mindset. The rich, however, understand that patience and strategic planning can lead to exponential growth in the future.
8. Money Moves: Unique Financial Tactics of the Affluent
The wealthy often employ unconventional financial strategies beyond traditional savings and investments. They might leverage assets to secure favorable loans, optimize their tax strategies, or invest in complex financial instruments like options and futures. Many also prioritize creating multiple streams of passive income.
These sophisticated financial maneuvers are typically out of reach for those with less wealth, who may focus primarily on making ends meet. The rich, however, view money management as a skill to be mastered, often seeking advice from top financial experts to optimize their wealth.
9. Creative Pursuits: How Hobbies Fuel Success
Engaging in creative hobbies is a common trait among the wealthy. Steve Jobs‘ interest in calligraphy famously influenced Apple’s design aesthetic. These pursuits aren’t just for relaxation; they often spark innovative ideas that can translate into business success.
While those with fewer means might view hobbies as luxury pastimes, the rich see them as essential for personal growth and potential sources of inspiration. These creative outlets provide a different perspective that can lead to breakthrough thinking in their professional lives.
10. Iron Will: The Discipline Behind Wealth
Successful individuals often exhibit extraordinary levels of personal discipline. This might manifest as adhering to strict daily schedules, maintaining rigorous exercise routines, or setting and achieving ambitious goals.
Elon Musk’s legendary work ethic, often involving 80- 100-hour weeks, exemplifies this extreme discipline. Those struggling financially may struggle to maintain such rigid self-discipline amid daily pressures. However, for the wealthy, this unwavering commitment to their goals and routines is a cornerstone of their success.
Conclusion
The habits of the wealthy often diverge significantly from those with fewer financial resources. From extreme morning routines and frugal practices to unconventional investments and eccentric wellness rituals, these behaviors reflect a unique approach to life and success.
While not everyone can or should adopt all these habits, understanding them provides insight into the mindset that often accompanies wealth accumulation.
It’s important to note that these practices alone don’t guarantee riches but illustrate the dedication, creativity, and long-term thinking that frequently characterize financial success.