7 Qualities That Help You Build Wealth

As you work and plan for retirement, financial freedom can seem like an unobtainable goal. And yet, many people manage to become financially independent by retirement (or earlier). If it seems like a daunting task, keep in mind that wealthy people tend to have several traits in common with one another. CNN Money actually researched this topic, and found that people who are worth 5 million dollars or more have seven core traits.

They're entrepreneurs. While it is certainly possible to become wealthy by working a well-paying job and investing your money wisely, business owners tend to have a higher net worth.

They're energetic. These people have high amounts of energy, sleep less than the average person, and have positive attitudes toward life. One core personality trait is the ability to visualize a potential future, and having the focus and determination to work toward a goal.

They work long hours. All of that energy is funneled into 60-80 hour work weeks. These busy entrepreneurs tend to work on vacation as well.

They're confident. Wealthy people tend to have a positive, can-do attitude. They believe they can do anything with enough determination.

They're discerning toward their relationships. Successful people know that they may not always have all of the answers – but they surround themselves with smart people who can help them succeed. As for business owners, they tend to do better when they form partnerships rather than remaining sole proprietors.

They're modest. Contrary to what you may believe, many successful, wealthy people do not live extravagant lifestyles. They live modestly and save, save, save as their income grows.

They take more risks, but are not impulsive. Wealthy people are often those who have taken calculated, well-planned risks. They don't bet everything on one investment, but they are willing to put some money and energy into higher-risk investments with a larger payoff.

So what can we learn from these qualities of wealthy people? No one is saying you can instantly change your personality, and perhaps going into business is not on the horizon for you. But if you can adopt some of these attitudes and incorporate them into your career, you stand a better chance of making more money and becoming financially independent in retirement.

14113 – 2015/2/13