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Podcast: What rich people know that you don’t

The character traits of the affluent and their effect on wealth
  • Rich people often deal in tangible assets.
  • Keep things practical and tactical.
  • The idea that the wealthy are all born that way is false.

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When we think about being rich, it’s often only about the material opportunities that being wealthy allows. But what about the character traits we can learn from the affluent?

CNBC’s article on the characteristics of rich people offers insights to us on the mindsets and values that rich people brought into their quest for wealth.

You’ll be surprised how many of these can easily translate to being wealthy in real estate. Do you have what it takes to be wealthy and wise? And if not, are you committed to learning and obtaining what’s needed to be successful?

Today, we conclude our series and focus in on the last five traits of rich people. Next up? They diversify valuable tangible assets. Almost half invest in timber properties, investment real estate, farmland — and even fine art.

They are also disciplined. They said goodbye to feast-or-famine and focused on the basics before expanding to long-term strategies.

Finally, they have a combination of strong family examples, a heart for charity and a strong commitment to the home front. What does this signal? A common thread of being both present and purposeful.

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But, what if this isn’t your background? It’s not too late. Start with these points and recreate a new direction for your family. Stop falling for the false narrative that the wealthy were born that way — statistics show that they are not.

That means all the freedom of creating wealth is up for grabs for anyone who is willing to put in the time and effort.

 

Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at realestatecoachingradio.com.

Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.

Email Tim Harris.