I've been a financial planner for over 10 years. Here are the 6 most useful lessons I've learned from my wealthiest clients.

Anyone can apply wealthy habits to improve their financial life.Sumala Chidchoi/Getty ImagesThe author has over 10 years of experience as a certified public accountant and financial planner.Most of his wealthy clients have common habits, mindsets, and wealth-building strategies.He's learned six useful financial lessons, which include generosity, health, and relying on others.I'm a certified public accountant and certified financial planner with over a decade of experience helping high-income professionals and diverse business owners take control of their finances. My clients range from medical professionals to small businesses, and I help them grow their wealth, reduce tax burdens, and run more profitable businesses.Many of my high-net-worth clients share common habits, mindsets, and strategies that helped them build and maintain their wealth. The good news is that anyone can apply these habits to improve their financial life.Here are six of the most useful lessons I've learned from my wealthiest clients.The more you give, the more you receiveOne of the most profound lessons I've learned is that life becomes richer when you focus on pouring into others, rather than just focusing on yourself.For example, clients who are generous with their employees often see retention rates soar. This principle extends beyond finances into mental well-being, relationships, and overall happiness. Generosity has a way of opening doors that talent or hard work alone sometimes can't.Many of my wealthiest clients often share that they wouldn't be where they are without the generosity of others who helped them along the way.Relying on others is the only way to accomplish everythingWealthy individuals often have incredibly demanding schedules, leaving little time for personal tasks or downtime. One key to their success is recognizing the power of outsourcing and delegation.Whether they hire a nanny to help with childcare or work with a financial advisor to manage their finances, they understand that they can't do it all alone. Instead of trying to juggle every responsibility, they build a trusted team around them with professionals who help them stay focused on what matters most.They become comfortable relying on others, knowing it's the only way to accomplish everything on their plate while still maintaining their sanity and quality of life.You can only go as far as your health allowsIf you don't take care of your health, it will be harder to reach your goals, no matter how important they are. Many of my wealthiest clients have learned this firsthand. They've realized that when their mental, physical, spiritual, or emotional health is off-balance, their ability to lead, create, and perform suffers.As a result, they intentionally make time and invest in activities that support their overall health, such as exercise, therapy, spiritual practices, or rest. Prioritizing health is not a luxury; it's a necessity.Never stop learningOne of the most consistent pieces of wisdom I hear from my wealthy clients is this: never stop learning. No matter their industry or background, they all attribute part of their success to a mindset of continuous growth.They understand that lifelong learning is essential to keep progressing in both life and business. There's no single path to learning. Some lean on books and mentors, while others invest in masterminds, coaching, or formal courses. What matters is the commitment to growth.Avoid lifestyle inflationOne of the biggest challenges my wealthy clients face is resisting the urge to significantly increase their lifestyle as their income grows. It's tempting to spend more when you make more, but true wealth often requires discipline and delayed gratification.Becoming wealthy means making intentional trade-offs. That might mean reinvesting in your business, putting a down payment on a rental property, or consistently investing in the stock market. Rather than inflating your lifestyle, put your money to work.Financial freedom comes from what you own, not just what you earnThere's an important difference between being rich and being truly wealthy, and it often comes down to owning assets. The rich may earn high incomes that support a luxurious lifestyle, but the wealthy prioritize acquiring income-generating assets that work for them while they sleep.Earning a solid income is important, but it's rarely enough on its own to build long-term wealth. To reach and sustain true wealth, you can't rely solely on your labor. You need assets that generate cash flow with minimal day-to-day involvement.These assets might include equity investments, real estate with a trusted property manager, or a business supported by a reliable team.Jovan Johnson, CPA and CFP, is the co-owner of Piece of Wealth Planning and specializes in strategic tax planning, personal financial planning, and small business accounting.Read the original article on Business Insider

Comments

Business News

Sweet-toothed fans are racing to Iceland for retro snack inspired by iconic 2000s drink

The Sun

Comments

Similar News

Our neighbours have painted their posh homes black to deter influencers taking pics – but we’ve taken different approach

I regularly rescue furniture and other items from the side of the road. I've even trained my teens to always be on the lookout for 'roadside treasures.'

I live full-time on a boat & save thousands every year – it’s much better than a house… but I’ve seen some awful things

Frankie Bridge’s silk eye mask is hailed the ‘best sleep mask I’ve ever used’ by shoppers

I've worked at Costco for 19 years. Here are 9 of the best things I'm seeing on shelves right now.

I'm 30 and I've been married for years &mdash; but I'm not planning to have kids until I've completed my travel bucket list

I've held leadership roles at Google and Facebook. Here are the top skills I'd urge the next generation to focus on &mdash; none of them are technical.

I've been traveling across Southeast Asia for 30 years. 3 cities have changed for the better.

Now your CAR knows if you've put on weight! Major manufacturer adds body measuring sensors to safety feature

I’ve read thousands of CVs – eight phrases you MUST avoid and major mistake all jobseekers make

Are we allowed an 8ft fence for privacy? Our neighbour says we've broken planning rules

My favourite tanning body butter that makes me look like I've had a Maldives holiday is on sale

This FatFace midi dress I’ve styled 3 ways is the most flattering and versatile dress I own

I've been to 20 Caribbean islands. Here are 7 mistakes first-time visitors should avoid making.

'I've purchased three times' - Next shoppers love 'very comfortable' £42 sandals

I've traveled around the world, but this lively city in Mexico stole my heart

Our kids don't get an allowance for chores. Surprisingly, they've never pushed back on it.

Premium Bonds prize checker: When is June’s NS&I draw and how can I check if I’ve won?

I've had a big pay rise to £125,000 should I salary sacrifice as much as possible into my pension?

I've been to all 50 states. These 7 tourist attractions are actually worth the hype.

Business News

Sweet-toothed fans are racing to Iceland for retro snack inspired by iconic 2000s drink

US and China set to meet for trade talks in London

Westinghouse pursuing US nuclear expansion with 10 large reactors after Trump orders: report

Five savvy homemade Father’s Day gifts for this Sunday

I spent 2 months working remotely in Bali. I didn't unwind until I visited another island nearby.

Denny Hamlin’s Michigan Win Shows He Is Championship Ready

2025 Tony Awards Winners List (Live Updates)

WSL revenues soar 34% despite drop in attendances

Evri to hire thousands more couriers after deal with DHL

Two-fifths of consumers halt online purchase over no free delivery or return

Shoppers race to popular supermarket as bargain Fairy pods for 100 washes spotted on shelves

Men have hundreds more saved in ‘rainy day’ funds than women, research indicates

Finance experts suggest ways to teach children good money habits over the summer

Men have hundreds more saved in ‘rainy day’ funds than women, research indicates

Stormont minister calls for terminally ill to be allowed state pension early

Finance experts suggest ways to teach children good money habits over the summer

Two-fifths of consumers halt online purchase over no free delivery or return

Evri to hire 5,000 more couriers after agreeing DHL tie-up

2025 Fantasy Football Rankings: Top 5 Wide Receivers

This Is Why You Should Keep Watching Audra McDonald

Amanda Nunes Says Kayla Harrison Was The Reason She Left Gym

NYT ‘Strands’ Today: Hints, Spangram And Answers For Monday, June 9th

Today’s ‘Wordle’ #1451 Hints, Clues And Answer For Monday, June 9th

At Brandcast, Creators Weigh In On Why YouTube Is Winning TV

Today’s NYT Mini Crossword Clues And Answers For Monday, June 9th

Invincible Alcaraz Beats Sinner In Five Star French Open Final

Portugal Beat Spain In Munich To Win 2nd Uefa Nations LeagueTitle

2025 Tony Awards Red Carpet Photos: George Clooney, Cynthia Erivo And More

Martin Lewis says cut £200,000 off your Inheritance Tax bill with fully legal method

US-China trade talks to open in London as new disputes emerge

Small shops on the brink amid shoplifting and violence

Predators circle three of Britain's most promising tech firms

RUTH SUNDERLAND: No wealth means no welfare

Ex-Darktrace chief reboots UK investment strategy

Artists who got almost $1,500 a month under a basic income pilot say their work improved

‘Ginny & Georgia’ Puts A Spotlight On Depression And Addiction In Season 3

What McLaren CEO Zak Brown Told IndyCar Owner Roger Penske In Detroit

We Finally Know When ‘Hollow Knight: Silksong’ Is Coming Out, Sort Of

Los Angeles Protests Live Updates: Trump Suggests He Won’t Invoke Insurrection Act

Top 2025 Draft Prospects Put Through The Paces At NHL Scouting Combine

Mike Johnson downplays Musk's influence and says Republicans will pass Trump's tax and budget bill

Meta in talks over Scale AI stake that could top $10B, Bloomberg reports

Major pub and restaurant chain with over 200 sites suddenly closes branch in shopping centre

Microsoft Is Finally Releasing A Handheld Gaming Console And It’s Coming Soon

Los Angeles Protests Live Updates: Photos Show National Guard Mobilizing Ahead Of More Demonstrations

Cousteau Condemns France’s Failure To Curb Bottom Trawling

Carlos Alcaraz Roars Back To Defend Roland Garros Title Against Jannik Sinner

‘Sirens’ Review: A ‘B’ Level ‘The White Lotus’ Meets ‘The Stepford Wives’ Tale

The Red Sox Could Make Waves As Trade Deadline Sellers

No Fatalities Reported After Tennessee Plane Crash—Here’s What We Know

French Open 2025: The Biggest Winners And Losers At Roland Garros

UFC Announces Official UFC 317 Main Card Fight Line-Up

‘Call Of Duty: Black Ops 7’ Reveal Trailer Proves This Is A Direct Sequel To ‘Black Ops 2’

Struggling UK households to get help even if they aren't on benefits as £742m up for grabs

£50 cost of living payment paid to households in UK area

New Manhattan homes for menswear stores Charles Tyrwhitt, Tom Ford

Lidl is selling the ultimate £15 camping & festival buy – it can be used all summer & makes a great Father’s Day gift

I'm 30 and I've been married for years — but I'm not planning to have kids until I've completed my travel bucket list

I've held leadership roles at Google and Facebook. Here are the top skills I'd urge the next generation to focus on — none of them are technical.