• Rich people often deal in tangible assets.
  • Keep things practical and tactical.
  • The idea that the wealthy are all born that way is false.

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.

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.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're giving away 3 free ICLV tickets at Connect Now next week. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription