Building wealth can be a long, slow journey, and you might not always feel like you’re making much progress. But financial success isn’t necessarily defined by big milestones like buying multiple homes or having a certain amount of money in your savings account.
A study published by Wealth-X found that around 68% of people with a net worth of $30 million or more are self-made — proof that wealth often comes from steady progress, not sudden windfalls.
Many smaller, less noticeable accomplishments can indicate your progress in building wealth. These seven signs indicate you’re secretly getting rich, even if you’re not aware of it.
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1. You're prepared for emergencies
Financial emergencies are stressful, and many Americans can’t cover even smaller financial emergencies. According to Empower research performed in 2024, nearly 37% of Americans can’t cover an emergency expense of over $400.
Americans have a median emergency savings of $600, and 21% of Americans don’t have any emergency savings.
Building an emergency fund is a key first step toward financial security. It allows you to handle unexpected expenses without added stress or scrambling for extra cash. Financial experts recommend saving three to six months’ worth of living expenses to help weather events like job loss or major repairs with greater peace of mind.
2. You have financial awareness
Staying informed about your finances can help you build wealth. Financial literacy, or being able to understand and manage your finances, can help you make more well-informed financial decisions.
For example, if you understand how to budget, save and invest, you can take steps to manage your money and plan for your long-term financial goals.
Still, navigating complex financial choices isn’t always easy. A professional can help you create a personalized strategy and stay on track as your needs evolve. Use the tool below to connect with a financial professional, powered by Bankrate.
3. You live below your means
Living below your means can help set you up for long-term financial success. As your income grows, it’s tempting to upgrade your lifestyle and increase spending.
But by keeping your expenses in check, you’ll have more of your paycheck available to save and invest — key steps toward building wealth. Small, consistent contributions to a high-yield savings account, retirement plan or brokerage account can compound over time and significantly grow your net worth.
Living below your means takes self-discipline, but it can lead to greater financial freedom. If you’re budgeting carefully and consistently setting money aside each month, you’re already on the right path.
4. You're focused on the long-term
If you’re focused on your long-term financial goals rather than short-term gratification, you’re on your way to getting rich. Building wealth takes time, and the ability to patiently save can help you meet your long-term objectives.
Others who are splurging on luxury items or vacations may seem like they’re ahead of you financially, but your long-term vision can help you build lasting security and wealth.
While it might feel like you’re missing out now, your future self will thank you for making smart, forward-thinking choices today. Staying committed to your goals — even when no one’s watching — is one of the clearest signs of financial maturity.
5. You're strategically investing
Investments are a key element of getting rich, and leveraging your investments early on can help build wealth. When you invest early on in life, you can take advantage of compound interest, where you’re earning interest on interest.
For example, if you invest $1,000 and it earns 5% interest, at the end of the year you’ll have $1,050. If that investment earns 4% during the second year, then you’ll have $1,102.50. You’ll have earned interest not only on your investment, but also on the $50 in interest that you earned during the first year.
Compound interest can grow significantly, especially when you have money invested for several decades. If you’re regularly investing and your money is earning interest, you’re building wealth.
6. You've created multiple income streams
Diversified income streams can strengthen your financial security and help grow your wealth. For example, you might have a full-time job, but you could also take on freelance work or a side hustle to generate extra income.
Adapting your home as a vacation rental or even buying a rental property can also diversify and increase your income.
Having multiple income streams not only gives you more money to save and invest, but also acts as a financial safety net. If you lose your primary job or face an unexpected setback, you’re less reliant on a single paycheck. Diversifying your income can also help you reach your financial goals faster and offer more flexibility in how you manage your time and money.
If you're looking for ways to make your money grow, compare some of today's best savings account offers with the tool below, powered by Bankrate:
7. You value financial security
Valuing financial security over the consumption of material goods is another sign you’re quietly building wealth. It shows you’re thinking long term, prioritizing stability and peace of mind over short-term indulgences.
Maybe you’ve chosen a certified pre-owned car instead of a brand-new one, or opted for a relaxing vacation closer to home rather than an expensive trip to Europe. These decisions may not seem flashy, but they reflect a mindset focused on preserving and growing your money.
When you recognize that financial security is more rewarding than the latest trend or luxury item, you’re laying the foundation for lasting wealth — and gaining the freedom to make choices on your own terms.
The process of building wealth
Did you recognize some of these signs in your own life? Even if only a few apply, you’re already practicing strong personal finance habits, and that’s worth celebrating.
Remember, building wealth is a long-term journey. No matter where you are today, small changes can help position you for greater financial success. Developing smart money habits now can lead to increased security, flexibility and peace of mind in the years ahead.
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