Shared characteristic of high net worth individuals
Success is never, or perhaps I should say should never, be exclusively measured in terms of how much money someone has. However, undeniably and quite rightly, most people do seek to become wealthier in order to enjoy the benefits that financial freedom can bring to themselves and their families – and indeed their heirs in years to come.
Throughout my career, I’ve been fortunate enough to meet many people who have become incredibly wealthy and there are some distinct traits that they all appear to have in common. Here are just a selection:
Self-belief: These people understand that they have the power to become wealthy. They expect knock-backs and moments when things go wrong, but equally they know that they have all they need to achieve financial success. It’s in their hands. They genuinely believe that it is perfectly possible that they can become wealthy, as much as the person standing next to them. Belief in themselves and belief in the industry they are in is vital.
The ability to plan: To be in with the greatest chance of making a success of anything in life you need to have a carefully-devised, long-term plan, and if it’s going well, you need to stick to it – and planning your financial strategy is no exception and this is something high net worth individuals generally appreciate. People don’t plan to fail, they simply fail to plan.
Proactive: Wealthy people who have made their money themselves haven’t got it by sitting on their backsides. They have taken decisive action to move forward in making it happen. They have stopped procrastinating and finding reasons why they couldn’t or shouldn’t take the first or next step, meaning the plan of action isn’t pushed way into the indefinite future. All successful people I know have a sense of urgency.
Discipline: Generally speaking, self-made high net worth individuals understand that a degree of discipline is essential. You need discipline in sticking to your plan and working hard at it, discipline to save, and discipline to sometimes delay instant gratification for the later rewards.
There are, of course, many other common characteristics that I’ve observed over the years, and I look forward to sharing more of them with you shortly.
Nigel Green deVere Group
Blog written 19th April