While no trait guarantees financial success, research and patterns among wealthy individuals reveal specific characteristics that often correlate with building wealth. These traits appear consistently across studies of financially successful people, from entrepreneurs to investors to corporate executives. The good news is that many of these characteristics can be developed with intention and practice.
People who get rich usually have these ten common wealth-predicting traits:
1. Discipline and Self-Control
The ability to delay gratification is perhaps the most fundamental predictor of financial success. The famous Stanford marshmallow experiment, which tracked children into adulthood, found that those who could resist immediate rewards often achieved better financial outcomes decades later. This manifests in wealthy individuals as consistent behaviors: maintaining budgets, avoiding impulse purchases, and sticking to investment plans despite market fluctuations.
Wealthy people typically prioritize long-term financial growth over short-term consumption. They often live below their means—even after achieving success—continuing to make decisions based on value rather than status. This trait involves emotional regulation as much as financial planning, as it requires managing the psychological pull of immediate satisfaction in favor of future security and growth.
2. Strong Work Ethic
Financial success rarely comes without exceptional effort. Many wealthy individuals—whether entrepreneurs or corporate ladder climbers—display an uncommon willingness to work hours that others won’t. This doesn’t necessarily mean sacrificing all personal life but rather approaching work with intensity and commitment.
Corporate leaders like former PepsiCo CEO Indra Nooyi became known for their diligent work patterns, arriving early and staying late when necessary while focusing on high-impact activities. The distinguishing factor isn’t just hours worked but productivity and value creation during those hours. This commitment to excellence creates opportunities for advancement, skill development, and increased earning potential.
3. Financial Literacy
Understanding how money works—from compound interest to tax efficiency—provides a significant wealth-building advantage. The 2020 U.S. Financial Capability Study demonstrated that individuals with higher financial literacy save more, invest more effectively, and accumulate wealth over time.
Wealthy individuals typically possess working knowledge of investment principles, understand how to maximize tax advantages, manage debt strategically, and recognize the time value of money.
They make decisions based on financial fundamentals rather than emotions or trends. This knowledge doesn’t require advanced degrees—many successful wealth builders are self-taught through books, mentors, and experience—but the commitment to understanding financial mechanics is consistent.
4. Risk Tolerance
Building significant wealth almost always involves calculated risk-taking. One study found that moderate risk tolerance correlates with entrepreneurial success—neither excessive risk aversion nor reckless gambling, but the thoughtful assessment of potential rewards against potential losses.
Wealthy individuals typically understand their personal risk tolerance and operate within that framework, taking strategic risks after thorough research and contingency planning.
They recognize that some failure is inevitable when pursuing significant returns, but they mitigate those risks through diversification, careful preparation, and limiting exposure to any single venture. This balanced approach allows them to pursue high-reward opportunities while protecting their core assets.
5. Persistence and Resilience
The path to wealth rarely follows a straight line. Psychologist Angela Duckworth’s research on grit—the combination of passion and perseverance—has found strong correlations between this trait and various measures of success, including financial achievement.
Before Amazon became a trillion-dollar company, Jeff Bezos faced numerous challenges, including the dot-com crash and failed product launches. What distinguishes wealthy individuals is not an absence of failure but their response to it: learning valuable lessons, maintaining perspective, and continuing forward despite setbacks.
This resilience enables them to persist through the inevitable challenges of building wealth in business, investments, or career advancement.
6. Networking and Relationship-Building
Social capital often translates directly to financial capital. A 2019 Harvard University study demonstrated that professional networks significantly impact career trajectory and financial outcomes. Wealthy individuals typically cultivate meaningful connections across diverse circles, creating ecosystems of opportunity, information, and support.
Effective networking isn’t merely collecting business cards but building genuine relationships based on mutual value. These connections provide access to information most don’t know, mentorship opportunities, potential investments, and career advancement that might otherwise remain unavailable.
Wealthy individuals often attribute significant portions of their success to relationships with mentors, partners, and colleagues who provided crucial opportunities or insights at key moments.
7. Vision and Goal-Setting
Research published in the Journal of Economic Psychology has established clear connections between specific goal-setting and wealth accumulation. Wealthy individuals typically operate with long-term vision and concrete milestones, allowing them to maintain direction while measuring progress.
Consider Warren Buffett’s investment philosophy, which combines clear principles with decades-long perspective, or Oprah Winfrey’s methodical expansion from local television personality to media mogul.
Their success stems from talent and methodical progress toward clearly articulated goals. This combination of visionary thinking and pragmatic milestone-setting creates a roadmap for wealth-building that survives the inevitable distractions and obstacles.
8. Adaptability
Flexibility often determines financial survival and success in rapidly changing economic environments. OECD studies have linked adaptability with income growth, particularly in dynamic, disrupted economies.
When Netflix CEO Reed Hastings recognized the limitations of the DVD-by-mail model, he pivoted the company toward streaming—despite initial resistance—positioning it for exponential growth.
Wealthy individuals demonstrate similar adaptability, whether by diversifying income streams, evolving skill sets, or adjusting investment strategies as market conditions change. This willingness to evolve prevents wealth-destroying attachment to outdated models or assumptions.
9. Curiosity and Continuous Learning
The wealthiest individuals tend to be voracious learners, constantly expanding their knowledge base. Bill Gates is known for reading dozens of books annually across diverse subjects, while successful investors typically dedicate significant time to understanding market trends and economic principles.
Labor market studies consistently show that lifelong learning correlates with higher career earnings. This curiosity manifests in reading industry publications, taking courses, seeking mentorship, and staying informed about economic developments.
Like compound interest, learning compounds over time—each new piece of knowledge builds upon previous understanding to create exponential growth in capability and opportunity recognition.
10. Optimism with Pragmatism
According to ScienceDaily, research has found that entrepreneurs who maintain positive outlooks while preparing realistically for challenges outperform pessimists and unrealistic optimists. This balanced mindset—seeing opportunity while acknowledging obstacles—characterizes many wealthy individuals.
This trait enables them to pursue ambitious goals without succumbing to defeatism or fantasy thinking. Practically, it means maintaining motivation through inevitable setbacks while creating robust contingency plans. This balance keeps them moving forward when others might give up while simultaneously protecting them from the blind spots that pure optimism might create.
Conclusion
These traits appear consistently among those who build wealth through entrepreneurship, investing, or career advancement. However, it’s essential to acknowledge that systemic factors, timing, and privilege also play significant roles in financial outcomes.
No set of personal characteristics guarantees wealth, but developing these traits improves your probability of economic success regardless of the starting point. The encouraging aspect is that these characteristics can be cultivated through intentional practice.
Financial literacy can be learned at any age, networking skills can be developed, and even traits like discipline and optimism can be strengthened with awareness and effort. By focusing on these wealth-predicting traits, you create internal conditions that maximize your potential for financial growth in any external environment.