Transform Your Life:
Key Habits of Wealthy People
The most powerful habits of wealthy people consistently include living below their means, investing early and often, protecting their time and attention, continuous learning, building strong relationships, and making long-term decisions even when short-term comfort beckons. These habits compound over years into financial freedom, and most remain accessible to anyone regardless of starting income, as long as you commit to changing daily behaviors.
As founder of Complete Controller, I’ve spent over two decades examining thousands of real-world financial statements from businesses across every sector. I’ve watched small-business owners and professionals quietly become millionaires—not through lottery wins or luck, but through disciplined habits around spending, saving, investing, and business-building that rarely make headlines. This article breaks down exactly what they do differently, what the data reveals, and how you can realistically adopt these same behaviors starting today, transforming your financial trajectory one habit at a time.
What are the key habits of wealthy people, and how can you apply them?
- Wealthy people live below their means, invest consistently, keep learning, protect their time, and build strong networks—habits you can apply step by step in your own financial life.
- They prioritize saving and investing first—often 20% or more of their income—then live on the rest, avoiding lifestyle creep even as income grows.
- They think in decades, not days, making patient choices about careers, businesses, and investments instead of chasing quick wins or hot tips.
- They treat health, learning, and relationships as assets, investing in their bodies, skills, and networks with as much seriousness as their portfolios.
- They systematize money decisions—using routines, automation, and clear rules—so willpower becomes less important than the systems they’ve built.
The Money Mindset Shift Behind the Habits of Wealthy People
Wealth starts with how you think about money long before it appears in your bank account. The mental framework wealthy individuals adopt shapes every financial decision they make, from daily purchases to decade-long investment strategies.
Self-made millionaires share a fundamental belief: their actions, not circumstances, determine their financial trajectory. Research repeatedly confirms this internal locus of control among wealthy populations. They take ownership of outcomes, seeking education, negotiating pay, and tracking numbers rather than waiting for permission or perfect conditions.
Long-term thinking and delayed gratification
Wealthy people expect building significant net worth to take 10 to 30 years and behave accordingly. Tom Corley’s five-year Rich Habits study revealed striking timelines: Saver-Investors averaged 32 years to millionaire status, Big Company Climbers took 22 years, Virtuosos needed 21 years, and Entrepreneurs reached it in 12 years.
This patience manifests in daily choices. Quietly wealthy individuals resist signaling success through houses, cars, and vacations. They keep lifestyles modest relative to income, allowing capital to compound. In Corley’s research, 64% of millionaires described their homes as modest, while 56% owned the same home for at least 20 years.
Core Financial Habits of Wealthy People
The everyday money behaviors that build net worth often look unremarkable from the outside. Yet these small, consistent actions create the foundation for long-term wealth accumulation.
Living below your means without feeling deprived
Spending less than you earn sounds simple, yet Federal Reserve data reveals dramatic differences by income level. Among households earning over $100,000 annually, 75% maintain emergency savings covering three months of expenses. For households earning under $25,000, only 24% achieve this cushion.
The wealthy implement practical systems:
- Pay yourself first by automatically saving 20% or more of income
- Use a 24-hour pause rule for nonessential purchases
- Track spending meticulously to identify unnecessary expenses
- Maintain modest lifestyles even as income increases
Saving and investing like the wealthy
About 49% of self-made millionaires in Corley’s sample were Saver-Investors who saved 20% or more from their first paycheck. They make major financial decisions once—like setting up automatic retirement contributions—then let systems run without constant oversight.
Most millionaires maintain three or more income streams. Corley found 65% had three sources, 45% had four, and 29% maintained five separate income streams. They avoid gambling and speculation, with 84% never gambling and avoiding lottery-type investments.
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Daily Performance Habits: How Wealthy People Work and Learn
Money follows how you work, learn, and manage your attention. Wealthy individuals structure their days differently, treating time as their most valuable asset.
Work ethic, focus, and time management
Wealthy individuals log purposeful workweeks averaging 58 hours in Corley’s sample. They focus on value creation and outcomes rather than task completion. Their structured approach includes:
- 44% wake at least three hours before their workday begins
- 81% use detailed to-do lists to structure time
- 88% read 30 minutes or more daily for professional development
- Two-thirds watch less than an hour of TV daily
Lifelong learning and skill building
The reading habit gap between wealthy and average Americans continues widening. A 2025 JPMorgan survey of over 100 billionaires identified reading as their top shared habit. Meanwhile, 40% of Americans didn’t read a single book in 2025. Bill Gates reads approximately 50 books yearly, while Warren Buffett spends 80% of working hours reading or thinking.
Millionaires in Corley’s study maintained impressive learning habits:
- 88% read daily to improve job or industry knowledge
- 85% read at least two books monthly
- They convert commutes into learning time through audiobooks
- They invest heavily in specialized skills commanding higher income
Relationships, Networks, and Giving: The Social Habits of Wealthy People
Financial success rarely happens in isolation. Wealthy individuals deliberately cultivate relationships that support their goals while contributing to their communities.
Networking, mentorship, and social capital
Research shows roughly three-quarters of wealthy individuals regularly network or volunteer at least five hours monthly. They intentionally surround themselves with positive, goal-oriented peers and advisors. This deliberate relationship-building creates opportunities, insights, and support systems unavailable to those who work in isolation.
Wealthy people excel at spotting talent and building strong teams. They understand that scaling wealth requires leveraging other people’s skills, time, and expertise. Mentors play crucial roles in their success stories, providing guidance and opening doors that would otherwise remain closed.
Generosity and community involvement
About 72% of millionaires in Corley’s study volunteered five or more hours monthly, with 27% serving on nonprofit boards. This giving extends beyond writing checks—they actively engage in causes they care about, creating meaning and impact beyond personal wealth accumulation.
Health, Energy, and Emotional Habits That Support Wealth
Sustained high performance requires a healthy foundation. Wealthy individuals treat their bodies as assets requiring maintenance and investment.
Physical health as a financial asset
Over three-quarters of millionaires in Corley’s research exercise regularly, while 93% sleep at least seven hours nightly. A 2024 London School of Economics study found establishing exercise habits takes 7 to 15 weeks of consistency—not the mythical 21 days. Once established, these habits persist even when motivation fades because they become automatic behaviors.
Wealthy people view health investment differently. They see exercise and adequate sleep as foundational to earning power and decision quality, not optional activities squeezed in when convenient.
Emotional regulation and decision-making
About 94% of wealthy people in research studies report filtering emotions before acting. This emotional control appears in calm decision-making during market downturns, negotiations, and conflicts. They avoid panic selling, instead stepping back to reassess and sometimes buying undervalued assets during downturns.
How Wealthy People Bounce Back: Risk, Failure, and Resilience
Wealthy individuals face setbacks like everyone else but handle them differently. In Corley’s study, 63% of millionaires took calculated risks while building wealth, and 27% failed at least once in business.
They assess downside scenarios and probabilities, then act decisively rather than remaining paralyzed by analysis. When ventures fail, they extract lessons, adjust strategies, and try again rather than accepting permanent defeat.
Real-World Example: How “Ordinary” Habits Created Extraordinary Wealth
Anne Scheiber, an IRS auditor who never earned more than $4,000 yearly, transformed $21,000 in retirement savings into $22 million through three core habits: extreme frugality (saving 80% of her $3,100 annual pension), patient long-term investing in dividend-paying blue-chip stocks, and absolute discipline—never selling, only reinvesting dividends.
Over 50 years, her portfolio achieved 14.6% average annual returns, nearly double the S&P 500’s historical average. She lived in a small Manhattan apartment, wore decades-old clothes, and rarely traveled. Her story proves that ordinary people applying extraordinary discipline can achieve remarkable results through time and consistency.
A Practical Roadmap: How to Start Living the Habits of Wealthy People This Year
Transform these patterns into implementable steps, especially valuable for entrepreneurs and business owners ready to change their financial trajectory.
30-Day reset: Build the first layer of wealth habits
Week 1: Awareness and numbers
Track every expense, document income sources, and calculate personal and business savings rates.
Week 2: Quick wins
Implement a 24-hour pause rule for purchases, cut one recurring expense, and cap recreational screen time.
Week 3: Systems over willpower
Set up automatic transfers (10-20% of income) to savings accounts and schedule two weekly blocks for focused work.
Week 4: Relationships and learning
Add daily 20-30 minute reading blocks and schedule one networking conversation.
12-24 Month plan: Move toward quiet wealth
- Increase savings rate by 1-2% quarterly until reaching 15-25%+
- Develop at least one new income stream
- Solidify your wealth team: CPA, bookkeeper, financial planner, and key business hires
Conclusion: How I’ve Seen These Habits Transform Real Businesses
As Complete Controller’s founder, I’ve watched clients with average incomes quietly become wealthy by applying these habits of wealthy people: they live on less than they earn, maintain clean books, invest steadily, stay curious, and make disciplined decisions even when nobody’s watching. I’ve also seen high earners remain perpetually stressed because their habits never matched their income. The difference lies not in the numbers but in the systems and behaviors behind them. Start implementing even two or three of these habits this month and commit long-term—you’ll fundamentally change your financial trajectory. When you’re ready for expert support with the financial systems enabling these habits, visit Complete Controller to put a seasoned team behind your goals.
Frequently Asked Questions About Habits of Wealthy People
What are the habits of wealthy people?
Wealthy people typically live below their means, save and invest a significant portion of their income, keep learning, work with focus, build strong networks, and think in decades instead of days.
What do rich people do every day?
Studies show many millionaires read 30+ minutes daily, exercise regularly, plan their days with to-do lists, wake up early, and spend little time on TV or recreational internet use.
How do wealthy people think differently?
They have an internal locus of control, focus on long-term goals, see failure as feedback, and view money as a tool for freedom and impact rather than just consumption.
What are the 7 habits of wealthy people?
Lists vary, but common top habits include: living below your means, saving/investing consistently, continuous learning, disciplined work ethic, purposeful networking, emotional control, and long-term planning.
What do most millionaires do for a living?
According to research, self-made millionaires fall into categories such as Saver-Investors, Big Company Climbers, Virtuosos (highly skilled specialists), and Entrepreneurs, with entrepreneurship and disciplined saving as major paths.
Sources
- Brazer, Jennifer. Internal client observations and aggregated financial behavior patterns from Complete Controller clientele, 2007–2025.
- Corley, Thomas C. “I studied the ‘rich habits’ of millionaires for 5 years: Here are 10 things they have in common.” CNBC Make It via ELAvate Global, n.d.
- “Habits of the Wealthy: What Do Rich People Do Differently?” Get Rich Slowly, n.d.
- “9 Everyday Habits Quietly Wealthy People Practice, Says Psychology.” Cottonwood Psychology Blog, n.d.
- “7 Habits of Quietly Wealthy People.” YouTube, uploaded by Chris Invests, n.d.
- Denning, Tim. “The Wealthiest People Just Mimic These Habits. Don’t Fck It Up.” Tim Denning Substack*, n.d.
- Fortune. (January 6, 2026). “Americans are quietly abandoning the daily habit that billionaires swear by.” https://fortune.com/2026/01/06/americans-reading-less-books-habit-embraced-by-billionaires-ultra-wealthy-bill-gates-oprah-winfrey-gen-z-consequences/
- Federal Reserve. (December 2024). “Report on the Economic Well-Being of U.S. Households in 2024: Savings and Investments.” https://www.federalreserve.gov/publications/2025-economic-well-being-of-us-households-in-2024-savings-and-investments.htm
- Safal Niveshak. “The Untold Story of A Self-Made Investing Millionaire.” https://www.safalniveshak.com/story-of-self-made-investing-millionaire/
- Dividend Growth Investor. (August 2020). “How Anne Scheiber Made $22 Million Investing in Dividend Growth Stocks.” https://www.dividendgrowthinvestor.com/2020/08/how-anne-scheiber-made-22-million.html
- London School of Economics. (March 2024). “The Vitality Habit Index: Quantifying habits and their impact on health.” https://www.lse.ac.uk/business/consulting/assets/documents/Vitality-Habit-Index-White-Paper-March-2024.pdf
- UBS/PWC Study. (July 16, 2025). “Built, Not Born: How Education Predicts Billionaire Wealth.” SSRN. https://papers.ssrn.com/sol3/Delivery.cfm/dp17994.pdf?abstractid=5353577&mirid=1
- Federal Reserve. “Survey of Consumer Finances (SCF).” https://www.federalreserve.gov/econres/scfindex.htm
- U.S. Securities and Exchange Commission. “Introduction to Investing: Investing Basics – Start Investing.” https://www.investor.gov/introduction-investing/investing-basics/start-investing
- Harvard Business Review. (December 2003). “Managing Your Network.” https://hbr.org/2003/12/managing-your-network
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Brittany McMillen
Brittany McMillen