Many people seeking to grow their wealth may look up to millionaires as a source of inspiration, But who do these wealthy individuals admire?
Find Out: I’m a Self-Made Millionaire: 6 Steps I Took To Become Rich on an Average Salary
For You: 6 Subtly Genius Moves All Wealthy People Make With Their Money
According to Stephen Greet, CEO & co-founder of BeamJobs, self-made millionaires often seek advice from bold thinkers outside of traditional finance. “While this advice can be valuable for people with lower net worth, it’s crucial to adapt it carefully to fit your financial situation,” he said.
Below are some of the types of financial role models that inspire millionaires.
Trending Now: Boomers Hold Half of U.S. Wealth–So Why Are Thousands Living Without Homes?
They Admire Contrarian Thinkers
“In my experience, self-made millionaires often look to contrarian thinkers or those who have succeeded by taking calculated, unconventional risks,” said Greet. He noted that they don’t always rely on traditional financial advisors or family; instead, they value perspectives from entrepreneurs, innovators or even mentors outside finance.
“These are individuals who see the world differently and aren’t afraid to break from the norm — a mindset that resonates with those who have built wealth from scratch,” he explained. “Now, are these good sources for people with lower net worth? I think the answer is yes — but with a caveat.”
While following these bold thinkers can open your eyes to opportunities others might miss, he said it’s essential to temper their advice with a strong understanding of your own financial reality. “For those with less wealth, risk tolerance is lower, so applying insights from these contrarian sources means adapting strategies to fit your financial situation.”
In other words, he said you can learn how to think differently, but the execution must be more conservative.
According to Greet, the takeaway for those with lower net worth is this: don’t limit yourself to traditional advice. “Look for insights from innovators who challenge the status quo. The key is blending their visionary mindset with practical, scalable steps that fit your financial capacity.”
Read Next: 10 Genius Things Warren Buffett Says To Do With Your Money
They Look Within, Not Out
“As a self-made millionaire and entrepreneurial educator, I’ve found the most successful people look within, not out, for financial guidance,” said Will Mitchell, founder of StartupBros. “They understand money is simply a tool to achieve life goals, so they focus on developing financial literacy and judgment to make decisions, not following generic advice.”
He continued, “Early on, I learned from mentors who built wealth in diverse ways. But the most valuable lessons came from those who lost it all and rebuilt. They taught me hype is hollow, data drives results, and building wealth is simple — spend less than you earn and invest the rest — but hard because it requires discipline and managing risk. Success comes from trusting numbers, not stories.”
They Seek Advice From a Variety of Trusted Sources
“My experience as a self-made millionaire providing financial advisory and tax services for over 40 years has shown me that the most successful people seek advice from a variety of trusted sources,” said David P. Fritch, CPA, and owner of Elite Tax Strategy Solutions. “Early on, they find mentors in their industry to gain insight over casual conversations. They read practical books on finance and business to build knowledge, rather than chasing ‘get rich quick’ schemes.”
The key, according to Fritch, is balancing input from experts in diverse areas. “I work with CPAs on tax strategies, wealth managers for investment planning, and an advisory board of experienced entrepreneurs. There’s no single ‘secret sauce’ advisor. By collaborating with various specialists, you gain exposure to effective strategies while avoiding costly mistakes.”
He said that some start out obsessing over “secrets of the wealthy,” but emphasized that building wealth demands hard work, constant learning and long-term thinking. Fritch recommended focusing on managing cash flow, reducing debt, and learning the basics.
“Once you have a solid foundation, you can pursue more advanced strategies. But always trust your instincts, and never stop seeking counsel from those further along the path,” he said. “The most successful people I know got there through perseverance, seeking wisdom from trusted sources, and building a network of experienced advisors with diverse perspectives.”
That combination of knowledge and guidance, Fritch said, has proven instrumental to overcoming challenges at every stage of the journey.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: Financial Role Models of Millionaires: Who Do They Look Up To?
