7 surprising traits of the mega-wealthy

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Would you like to attain a high net worth? Of course – who doesn’t? Adopt these 7 habits and watch your wealth grow.

  1. Proceed slowly – there is no such thing as “Get rich quick.”

The very wealthy take a long term approach to wealth building – whether with the stock market or building their own businesses.

That doesn’t mean they simply sit back and wait. Instead they break their long-term goals and ideas into steps they can take each day to further their progress.

  1. Work smarter, not harder.

It sounds odd, but Bill Gates has been quoted as saying he’d “choose a lazy person” to do a job, simply because the lazy person would find an easy way to get it done. Nobel prize winner Richard Thaler used his “laziness” to focus on things that truly mattered, rather than spending time on things that didn’t take him forward.

So be lazy – find the fastest way to get from point A to point B without wasting energy.

  1. Welcome criticism.

This is a tough one for many of us. Our egos simply don’t want to accept it!

The super-wealthy have feelings too, but they know that criticism and honest feedback can help them correct mistakes, improve their performance, and overcome obstacles.

  1. Turn down most opportunities.

The mega-wealthy have no end of opportunities presented to them – and reject most of them. Instead of being distracted by side issues, they guard their time ferociously while they focus on their top priorities.

  1. Embrace failure.

The very successful have tried and failed many times – then gotten back up to try again. True innovators accept failure as part of the process, and set themselves up to fail regularly by setting “impossible” goals.

The only way to grow is to dream big, get out of your comfort zone, reject the status quo, and take some chances. Remember – that ship in harbor is safe, but it isn’t getting anywhere.

  1. Don’t try to be better than other people.

The ultra-rich don’t try to be better than anyone else. They don’t even want to do what everyone else is doing. Instead, they embrace innovation and carve new paths.

It isn’t easy, because friends and family would rather you played it safe – like that ship in harbor. They’re more than willing to tell you you’re crazy for trying something new. You have to ignore them, face the fear, and keep moving forward.

  1. Be frugal.

Sure, the big spenders you see on TV, in the newspapers, and on the Internet appear to be wealthy, but they probably haven’t accumulated much net worth. How could they when they’re buying million dollar cars and spending $5,000 or more to take friends out to dinner?

The really rich take care of their money – they don’t throw it around. Look at Mark Zuckerberg – he’s worth $70 billion and drives a Volkswagen.  Bill Gates, worth even more, wears a $10 wristwatch and washes the dishes by hand after dinner. Walmart scion Jim Walton works from an old brick building in his home town and drives a 15-year-old pickup. Dish Network founder Charlie Ergen carries a brown-bag lunch from home every day.

The message – if you want to accumulate wealth, don’t throw it away on non-essentials.

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