Contrary to popular belief, many of today’s multi-millionaires were not born into wealth. The recent U.S. Trust Insights on Wealth and Worth® survey discovered that 77% of those with investable assets of $3 million or greater grew up with average wealth at best (middle-class or below). A surprising 19% grew up in poor households.

If they weren’t born into it, what is it about the wealthy that allows them to achieve and maintain that status? The survey highlighted common habits, including the seven important characteristics listed below.

1. Investing for the Long-Term – The large majority of the multi-millionaires surveyed followed conservative investment strategies. Rather than try to time markets or engage in high-risk investments, they build wealth over time through buy-and-hold strategies and steady gains. This dovetails with a disciplined savings approach that inherently minimizes risk. You don’t achieve high net worth by blowing money with undisciplined spending.

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