Introduction:
I’ve spent over two decades helping people from all walks of life—doctors, entrepreneurs, retired officers, young working couples, and single mothers—transform their financial chaos into clarity. But what always fascinated me was: What separates the financially “successful” from the rest?
Over the years, I began to notice a pattern. The top 1%—the truly wealthy and content Indians—weren’t always born with money. Many were first-generation millionaires. What made the difference were their habits.
Here are the 13 most powerful habits I’ve seen time and again in India’s wealthiest and happiest individuals. These aren’t just theories. These are lived experiences I’ve witnessed from my clients, my mentors, and even from my own life as a financial freedom coach.
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1. Make Your Money Work for You
In India, many people still believe in “safe” savings—parking money in FDs, gold, or just holding cash. But the wealthy? They think differently. They let their money earn for them while they sleep.
I remember a client, Neha, a corporate executive in Gurugram. She once said, “My job earns me a salary, but my investments give me freedom.” We created a passive income portfolio through dividend-paying stocks, rental real estate, and mutual funds with SWPs.
The mindset shift is clear: don’t just earn money—build assets that continue to earn on your behalf.
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2. Never Put All Your Eggs in One Basket
Diversification isn’t just a buzzword—it’s protection. When the markets fell in March 2020, one of my NRI clients had all his wealth in equity mutual funds. Another client, a small business owner, had a well-balanced portfolio—debt, gold, stocks, and real estate.
Guess who slept better at night?
Wealthy Indians spread risk. They invest across multiple asset classes, industries, and even geographies. It’s about resilience, not just returns.
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3. Create at Least 3 Separate Income Streams
Most people rely solely on their job. But rich Indians? They usually have 3 or more income streams: salary, side business, rental income, dividends, royalties, or even consulting.
One inspiring example: A couple I mentored started a weekend photography business. Today, it pays their EMI while their full-time jobs fund investments. Diversifying income reduces anxiety and increases freedom.
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4. Use Legal Structures to Protect Wealth
Wealthy Indians don’t just earn—they protect. Legal tools like HUFs (Hindu Undivided Family), private trusts, insurance wrappers, and even family LLPs are used not just for asset protection but also for tax efficiency and succession planning.
A business family in Delhi used a combination of HUF and family trust to manage real estate income, while ensuring smooth generational transfer. Most middle-class Indians ignore this out of fear or ignorance.
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5. Save 20%, But Aim to Invest 50%
This habit changed my life.
When I began my journey as a young MBA graduate, I could barely save 10%. But I observed that my wealthiest clients—despite their income levels—invested aggressively.
A retired air force officer I guided for 12 years never earned more than ₹80,000/month. Yet his SIPs began at ₹10,000 and grew to ₹40,000/month. Today, he’s worth over ₹2.5 crore.
It’s not how much you earn—it’s how much you keep and invest that defines your future.
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6. Avoid Consumer Debt Like a Plague
There’s good debt (like a home loan) and then there’s bad debt—EMIs for gadgets, vacations, weddings. I once had to work with a newly married couple drowning in credit card debt just six months into marriage—all from their “big fat wedding.”
Rich people in India understand this rule: borrow only to build assets, never to fund lifestyle inflation.
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7. Understand Tax Laws & Plan Legally
Wealthy individuals don’t evade taxes. They plan them smartly.
Using tax-saving mutual funds (ELSS), NPS, Section 54 exemptions on real estate capital gains, and HUF structures are just a few of the strategies I implement for my clients.
A salaried professional earning ₹35L/year once told me, “I hate paying taxes.” But once we did proper tax planning, he saved over ₹6 lakh legally in one year.
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8. Surround Yourself with Financially Wise People
“Show me your five closest friends, and I’ll show you your financial future.”
Wealthy Indians often hang out in circles where money is a topic of growth, not taboo. They share insights, recommend advisors, and talk about wealth creation—not gossip.
That’s why I created The Richness Academy—to build a community that supports one another with financial knowledge and growth.
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9. Consume Books, Podcasts, and Courses
I’ve personally invested over ₹20 lakh in my own learning—from global conferences to books, certifications, and mastermind groups.
The wealthy don’t stop learning. They read The Psychology of Money, listen to finance podcasts, attend wealth workshops—even if they’ve made crores.
Learning isn’t a one-time thing. It’s a lifelong habit of the rich.
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10. Think in Decades, Not Days
I remember advising a young software engineer from Bengaluru to start a ₹15,000/month SIP. He said, “But it feels too small.”
Today, that SIP alone has crossed ₹14 lakh in value.
The wealthy play the long game. They think in decades, not days. They aren’t bothered by short-term volatility. They know the power of compounding.
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11. Always Negotiate – Even the Small Stuff
In India, we often hesitate to negotiate. But wealthy people negotiate everything—from house rent, car purchases, to business contracts and credit card fees.
One of my clients saved ₹60,000/year simply by negotiating his health insurance premium for his family based on his clean track record and by porting wisely.
Every rupee saved is a rupee earned and reinvested.
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12. Master Emotional Control
Wealth isn’t just about numbers—it’s about behavior.
The stock market falls? Don’t panic.
A business deal goes wrong? Learn and move on.
Everyone’s buying Bitcoin? Pause and think.
I teach my clients emotional fitness—not just financial literacy. Because money magnifies who you already are. If you’re impulsive, it shows in your bank balance. If you’re patient, it shows in your portfolio.
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13. Align Wealth With Your Life’s Purpose
This one’s personal.
Over the years, I’ve seen clients accumulate money but lose joy. One particular businessman in Mumbai sold his company for ₹70 crore. But he confessed, “I missed watching my daughter grow up.”
That’s when I began asking every client: Why are you building wealth? What’s the real goal—freedom, impact, peace?
The happiest rich people in India use wealth as a tool, not a trophy.
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Final Thoughts: Richness Is Not Just About Rupees
Being wealthy isn’t just about how much is in your account—it’s about how much clarity, peace, and freedom you have.
These 13 lessons aren’t “secrets” anymore. They’re choices. Habits. Patterns I’ve helped hundreds of families adopt. Some took months. Others took years. But every one of them was worth it.
And now, it’s your turn.
The author of this article, Taresh Bhatia, is a Certified Financial Planner® and advocate for female empowerment. For more information and personalized financial guidance, please contact taresh@tareshbhatia.com
He has authored an Amazon best seller-“The Richness Principles”. He is the Coach and founder of The Richness Academy, an online coaching courses forum. This article serves educational purposes only and does not constitute financial advice. Consultation with a qualified financial professional is recommended before making any investment decisions. An educational purpose article only and not any advice whatsoever.
©️2025: All Rights Reserved. Taresh Bhatia. Certified Financial Planner®
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