As a finance professional who enjoys working with ambitious wealth creators, I’ve had the opportunity to partner with countless individuals boasting a seven-figure net worth and/or annual income.
As a result, I’ve had a front-row seat to the very strategies that not only helped my wealthiest clients achieve significant financial success but also sustain it, grow it, and successfully pass it on for generations to come.
On the flipside, I’ve also witnessed their primary struggles and the obstacles which most hindered their ability to enjoy the fruits of their labor.
What the Wealthy Get Right: Seven-Figure Best Practices
First, let me share some insights and talk about what my millionaire clients get right.
Seek Expert Guidance from a Finance Professional
- One of the smartest moves the wealthy make is recognizing when they need help and reaching out to financial experts. This decision often makes a significant difference in their ability to grow and protect their wealth by getting guidance from experts who have experience advising clients, just like them, facing similar financial challenges.
Cultivate Quiet (Financial) Confidence
- There is a difference between millionaire wealth creators and millionaires who inherit wealth. The majority of multi-millionaire wealth creators are not keen on being showy or making a big splash. You’d be surprised how understated real wealth can be. These clients rarely feel the need to publicly expose how much wealth they truly have for the sake of impressing others.
Invest in Income-Producing Assets
- Wealth creators use their money to create and build more of it. They recognize the difference between spending money to consume and using money to make more money — and they prioritize accordingly.
Build a Diversified Investment Portfolio
- Wealth creators who STAY wealthy know better than to risk everything on one venture. By spreading their investments across various asset classes — stocks, private equity, real estate, fine art, business ownership, etc. — they safeguard what they have while also participating in future growth.
Embrace Calculated Risk
- The wealthy aren’t afraid to take risks. But at the same time, they make the effort to educate themselves on what risks are actually worth taking. They are intentional, calculated, and strategic with their decision-making processes, ensuring that even their boldest money moves are thoughtful, intentional, and informed.
Prioritize Self-Growth, Health and Wealth
- Most significant wealth creators prioritize investing in themselves first (think: holistic health, financial literacy education, personal and professional development, etc.). They are always learning, growing, and looking to better themselves, and this relentless pursuit of betterment elevates their level of success in every aspect of their lives. This is the most common denominator amongst ALL of my multi-millionaire wealth creator clients.
Where The Wealthy Have Room for Improvement: Build AND Enjoy Your Wealth
But there is one very notable area where many wealth creators have room for improvement — enjoying the wealth they’ve worked so hard to create.
It was the first thing I noticed when I began working with incredibly wealthy clients. Many of them really struggled to actually spend this hard-earned money, even for their own personal means and enjoyment.
The focus often remained on accumulation (e.g. strategies to make more, build more, save on taxes and pass on more wealth to the next generation) rather than how to use money as a tool to support their dream lifestyle.
It was fascinating to me.
I recognize that many wealth creators didn’t inherit their wealth and instead have built it from scratch. They have innovated, crafted, and tirelessly worked to achieve their current financial status, and this leaves them feeling overly attached to those dollars and cents. They find themselves stuck in a fear loop, struggling to step off this ever-cycling hamster wheel of building and accumulating wealth.
The fear of losing what they have worked so hard to build and/or that there will never be enough is a common theme for these individuals. Thus, they hesitate to spend money on experiences, philanthropic ventures, and other things that would bring them joy.
This counterproductive mindset means that, oftentimes, wealthy individuals end up with far more money toward the end of their lives than they need or even really want, and they can often regret the missed opportunity to make a meaningful difference with their wealth earlier on.
The key takeaway here is the importance of not just building wealth but also planning how to use money in a way that aligns with your values and goals. It’s about striking a balance between building wealth for your future while also living fully in the present.
I share this with you because I want you to also recognize that this mindset doesn’t only impact individuals with millions of dollars. It typically impacts the majority of original wealth creators — no matter the amount of wealth they’ve amassed.
Don’t let this be you! Use money to chart a course toward the financial future you want, to help those you want, to live the lifestyle you want, to experience things you want with the people you want.
Use These Million Dollar Financial Strategies to Create a Life You Love
Friendly reminder: We’re not in a competition to see who can leave behind the most money.
Build wealth while also planning for your future. How will you use this wealth to better yourself, your loved ones, and the world around you? What kind of impact do you want to make? What kind of experiences do you want to create? How do you want to grow yourself and your community? What kind of future do you want to build?
The goal is not to die with the biggest bank account. The goal is to live the best life possible using the money you have. Find the balance. Your wealth can be life-giving!
Learn more about ways to work with me today and add your name to my client roster of happy, healthy, and wealthy individuals who have found peace — and enjoyment — with their finances.
