Top 7 Traits of Extremely Wealthy People

Wealthy people share common traits. That's why they are wealthy. If you want to be extremely wealthy, learn and own these traits:

On your way to achieve wealth, you will definitely face some obstacles. Overcome the obstacles and move on. Do not give up and be persistent. Wealth is achieved only by removing a series of stumbling blocks along your way to riches.

Extremely wealthy people are either businessmen or investors. Look at some of the richest people in the world. They all own companies. To create wealth, you must involve yourself in business or investing. This is where the money is. Start your own business and grow your wealth.

To be very wealthy and to stay wealthy, you need to be very innovative. Being innovative ensures that you always come up with new ideas to create wealth. Look around you for some opportunities that can make you rich. Be observant and critical.

If you are not doing what you love, forget about getting rich. Wealthy people get wealthy because they do what they love. They love what they do so much that they forget that they are actually working. Find something you love and create business around what you love.

Donate some of your income to charity you believe in on a regular basis. Some extremely wealthy people even have their own foundations. They donate a percentage of their wealth to the cause they believe. The more you give, the more you receive. Do not hoard wealth, share it with people around you.

Keep learning to improve yourself. Extremely wealthy people believe that the greatest asset in the world is your mind. Your mind shapes your destiny. Invest in your greatest asset by reading books, listening to audio tapes or attending seminars.

Extremely wealthy people do not do everything themselves. They know when to let go. They hire the right people to do it. Bill Gates doesn't write software, he hires programmers to do it. To be very rich, you must know how to leverage. Hire people and use tools to do some of your work. If you do not leverage, there is so much that you can do, and this puts a limit on how much money you can make.

Besides the above traits, extremely wealthy people dream big and they take action to have their dreams come true. Furthermore, they persevere and have strong desire in achieving their dreams. first start out.

There is no clear answer to this question. But I can share some real life experience with you.

I have a friend who just recently quit his job and started a recruitment company.

While having a chat with him the other day, he received a phone call from a prospective employer.

After a long chat with his prospective employer, he was kind of unsure what he should do next.

Whether he should accept a job offer from the prospective employer and focus only on his recruitment business part time. Or just ignore the job offer and focus full time on his new business.

When I first started out, I quit my job as an IT consultant. I use my savings to fund my new business ventures. I focused on the new business ventures full time.

I went all out and there was nothing for me to fall back. This is something like 'do or die' thing.

This put enormous pressure on me but it was also a great motivating factor for me as well. I must do well in what I planned to do. I got no choice but to channel all my energy and attention to it.

When you leave yourself no option and no way out, you'll try your very best to achieve what you want to achieve.

Leaving yourself no option is like you were caught in this situation: make a million dollars in 3 months or you lose both of your hands.

Yes, you're right, in order not to lose your hands, you have to make a million dollars in 3 months!

If you were in this situation, I'm very confident that you'll find all the means to make a million dollars rather than giving chance to get your hands chopped off.

That's how you feel if you were to start out full time. You can see the results faster. And also you get things done faster.

A piece of advice before you decide to start out full time is to have enough financial buffer.

Your financial backup is extremely useful if your plans fail to generate certain amount of income in a specified time. You can use your backup to put food on the table.

Other than that, if you have a family, strong support from your spouse is utmost important.

Having said that, I'm not saying everybody who has plans to be on their own should follow my path and do it full time.

But if you notice, there are many success stories from people who started out part time.

One excellent example is Michael Dell, founder and Chairman of Dell Computer.

According to Forbes magazine, he is one of the youngest richest men in the world.

When Michael Dell first started his computer business, he operated from his university dormitory. He started out his part time business while he was a university student.

When his computer business grew faster than he could ever imagined, then only he quit as a student and involved full time in his business.

That's how Michael Dell started his multi-billion dollar computer business from a part time business.

Starting out part time is a safer path because you can still rely on your full time job.

The only drawback I can see if you start out part time is you may not put all your energy in it. Because you have a day time job as backup, you may not be as committed as when you're in it full time.

Many people gave up after a few months of trying and fall back to their 9 to 5 job.

Either you choose to start out full time or part time, success will be on your side if you have a burning desire and passion to succeed.

Abel Cheng offers small and medium enterprises exclusive global profits insider tips in his free publication, Abel Cheng's Business Diary. To officiate a bi-weekly subscription, please go to

In The News:

Shady Burro Enduro a success  Mineral County Miner

19 Good Questions For Living The Good Life (Just The Right Question To Get Just What You Desire)

It happened again in class. While sharing my insights on... Read More

Stop Reading Success Books and Start Being Successful

So you want to be successful (whatever that means to... Read More

Believing in a Better Lifestyle

How many of you have ever thought about the link... Read More

Habits and Success

I got a big reminder over the last couple of... Read More

Reach Your Goals - Review and Refine

Periodically re-check and refine (or redefine) your goals It's no... Read More

Let It Be You

Each and every day, there are people all around the... Read More

Fear of Success? Fear of Failure?

What's holding you back?One of my clients came to me... Read More

How The Right Questions Can Change Your Life

Your own pressing needs, your long-standing frustrations, would benefit tremendously... Read More

Nothing In-Between

Are you on the right track?Stop for a while, look... Read More

Stop Juggling, and Start Achieving! Three Steps to the Top!

Want more success in your business or professional life? Here's... Read More

Techniques to Help e-Learning

e-Learning is doubling yearly. Classes, e-courses, e-books on how-to and... Read More

Create Your Future Through Visualization

The best way to predict your future is to create... Read More

The Secret of Lasting Personal Change

Why do diets end up in gained weight? Why do... Read More

Raise Your Bar: The Power of Yes

Every one of us lives with a ceiling, a belief... Read More

The Characteristics of a Winner

As kind of a hobby I like to watch people.... Read More

The Arenas of Success

"The credit belongs to the man who is actually in... Read More

Its Your World--Own It

Hello,You are reading this article because you are one of... Read More

Reach Your Goals - Friendly Competition

Friendly competition Get together with a group of like-minded friends... Read More

Discovery In A Million Dollar Mistake

I have noticed that though my clients often have created... Read More

Mind is the Forerunner of All States

Our lives and the circumstances we live in are largely... Read More

How to Use Your Pain to Gain

Pain. All of us have felt that emotion some time... Read More

Is Success About Money?

Success could be just about making money, but I think... Read More

Try Honesty as a System of Trust, Success Will Follow

Trust is a cornerstone of human existence. It is interesting... Read More

In Success Language, Failure Means You Are Almost There!

We all know as we are progressing towards our personal... Read More

Become a Dreamer!

Cool Facts: Walt Disney went bankrupt several times before he... Read More