Financial Role Models of Millionaires: Who Do They Look Up To?

Financial Role Models of Millionaires: Who Do They Look Up To?

Cindy Lamothe  Sun, October 13, 2024  GOBankingRates

Many people seeking to grow their wealth may look up to millionaires as a source of inspiration, But who do these wealthy individuals admire?

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.

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.”

They Look Within, Not Out

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