9 habits that set millionaires apart (and none of them involve luck)

We recently discovered that one in ten Australians are now officially millionaires. While this might be a surprising statistic, we can learn some important lessons from how millionaires build wealth.

Most millionaires didn’t wake up rich one day. They weren’t handed a winning lottery ticket or given a magic formula. Instead, their wealth is usually the result of years, sometimes decades, of deliberate decisions, consistent habits, and a mindset that looks beyond short-term gratification.

The self-made millionaires I’ve worked with tend to approach life and money very differently from the average person. They see risk and opportunity through a longer lens. They stay calm when others panic. And most importantly, they keep moving, even when progress is slow or the future looks uncertain.

Here are nine qualities and habits that consistently set millionaires apart:

1. They don’t let money sit still

Millionaires hate waste and, to them, idle cash is wasted potential. They know inflation quietly erodes the value of money sitting in a savings account. So rather than hoarding, they put their money to work. That might be in equities, property, business ventures or alternative assets.

The goal for them is growth. They still hold cash, but to stay liquid for emergencies or pounce on timely opportunities. Anything beyond that gets deployed into long-term vehicles for wealth creation.

2. They diversify without getting distracted

Self-made millionaires don’t bet the house on a single investment. They spread risk across different assets, sectors and timeframes. But they don’t chase every trend, either. They build portfolios that are both resilient and aligned to their strategy.

The discipline here is key: diversify intelligently, not impulsively.

3. They prioritise liquidity

Millionaires understand the power of being ready. They maintain liquidity not just for safety, but for speed. When others are scrambling to refinance or sell assets, they’re buying at a discount. Liquidity gives them control, confidence, and first-mover advantage.

4. They keep showing up

Discipline is their superpower. While others are derailed by headlines, setbacks, or fear of missing out, millionaires keep showing up. Whether it’s investing regularly, reviewing financials, or building their business, they operate on systems, not moods.

Their wealth isn’t the result of a single big decision, it’s thousands of small ones made with intention.

5. They leverage experts

Millionaires don’t try to master everything. They build teams like accountants, financial advisers, buyer’s agents, and lawyers, so they can stay in their lane. They make high-leverage decisions and delegate the rest. It’s not about doing more. It’s about doing what matters and letting others do the same.

6. They lead with values

Many of the wealthiest people I’ve met are also the most values-driven. Their word holds weight. They treat people with respect. And they play the long game in relationships as well as investments. They understand that reputation compounds faster than money.

7. They stay curious

The learning never stops. Whether it’s a book, a podcast, a mentor or a course, millionaires are always sharpening their thinking. They don’t assume they’ve made it.

In fact, their mindset is one of humility and continuous improvement. They don’t just invest in markets, they invest in themselves.

8. They think in decades

While others are obsessed with what’s happening this quarter or this year, millionaires zoom out. They think in five, 10 and even 20-year horizons. That’s how they stay calm when the market dips, or when a business takes longer to mature. They understand that time is the ultimate multiplier of wealth.

9. They stay calm under pressure

Tough times don’t rattle them. When interest rates climb, or markets fall, they don’t flinch. They know fear-based decisions rarely pay off. Their ability to stay rational when others are reactive often leads them to the best opportunities. To them, calm is a competitive edge.

There’s no single path to becoming a millionaire, but there are common behaviours that set those people apart. Most people won’t get rich from luck. They’ll get there from doing the simple things consistently, over time.