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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by Some retirees build wealth quietly, without flashy purchases or dramatic lifestyle changes. <\/p>\n According to certified financial planner Kevin Lum in a recent video<\/a>, their financial success is built over decades.\u00a0Check out these seven habits that quietly wealthy<\/a> retirees have in common.<\/p>\n Also see five simple habits quiet millionaires swear by<\/a>.<\/p>\n 1. Be a Lifelong Learner<\/p>\n Lum mentioned that quietly wealthy retirees are constantly learning more or honing their skills that help them make better decisions in all aspects of their lives.<\/p>\n \u201cThat curiosity compounds over time. The more they learn, the better decisions they make \u2026 Lifelong learners see connections that other people miss,\u201d he said.<\/p>\n<\/p>\n 2. Have Professional Careers<\/p>\n Another thing that quietly wealthy retirees have in common is they often chose a career with good benefits and made regular contributions to a 401(k)<\/a>, Lum explained.\u00a0He noted that most have \u201cvery normal careers.\u201d<\/p>\n A Ramsey National Study of Millionaires<\/a> shows that the top five professional careers of millionaires mentioned were attorney, management, accountant, teacher and engineer.<\/p>\n 3. Invest In \u2018Boring\u2019<\/p>\n When speaking about his wealthy retired clients, Lum said they have very simple portfolios and typically invest in small business, real estate and index funds<\/a>.<\/p>\n According to an article<\/a> by Hanna Horvath, CFP, for most people, real wealth isn\u2019t built by striking it big or perfectly timing the market. Instead, she explained that it comes from allowing proven strategies, like index investing, to work over time.<\/p>\n 4. Be Patient and Consistent<\/p>\n Lum said the quietly wealthy understand that building wealth takes decades of consistent, patient actions.<\/p>\n According to financial influencer JC Rodriguez, who shared on Fox Business\u2019 \u201cVarney and Co.<\/a>,\u201d the \u201cquiet millionaires\u201d he has interviewed say that their wealth isn\u2019t built on flashy moves but on steady consistent habits of investing over time.<\/p>\n 5. Value Happiness and Security Over Status<\/p>\n Most of the wealthy retirees encountered by Lum tell him they value happiness and security over status. Financial independence<\/a> and spending time with family and friends are important to them.<\/p>\n Remaining socially engaged improves quality of life and is associated with better health outcomes and greater life satisfaction among older adults, according to USAging<\/a>.<\/p>\n 6. Spend Intentionally<\/p>\n Lum\u2019s happiest wealthy retiree clients are intentional with the way they spend their money and have let their money become a tool to live a better life.<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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