If you want more money, get to work:
The Proof. Millionaires put in some of the longest hours of any economic group in America. In one survey, 86 percent of wealthy workers said they log more than 50 hours a week. One reason for their dedication: About 70 percent own their own business. Only 10 percent inherited their wealth.
The Takeaway: Forget about lottery tickets or slot machines. The one reliable path to wealth is through hard work. So launch that side business, take that second job, volunteer for overtime hours or go for that promotion.
Be Prepared for Retirement:
The Proof. Why save for the future in you’re rich, right? Wrong. America’s top earners channel almost 40 percent of their income into savings. They understand they will need lots of cash for a long retirement.
The Takeaway: A general rule of thumb is to set aside 10 to 15 percent of your income for retirement. If you haven’t done that up to now, shoot for even more.
It Pays to Own, Not Rent:
The Proof: Nearly 90 percent of Americans with annual household incomes above $120,000 own a home. The financial benefits: You build equity, get tax breaks and can make a profit when you sell.
The Takeaway: If you plan to stay put for five years or more, it makes sense to own your home.
You Can Afford to be Generous:
The Proof: The affluent are giving more to charity than ever before. One indicator: In 2014 there were 86,000 grant-giving private foundations in the U.S.
The Takeaway: Make a difference in other people’s lives. Even small acts of generosity can make you feel rich in spirit.