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Millionaire habits – how others have achieved investing success

We look at the most successful habits of some of our millionaire investors, how they’ve built their fortune and what you could learn from them to grow your own wealth.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

All successful investors have to start somewhere, and it’s the first few years that are often the trickiest. While knowing where and how to start can be challenging, having someone to learn from can definitely help.

We spoke to some of our millionaire investors to get their views on how to become a more successful investor. They’ve shared their habits and tips to help fast-track your investing success.

This article is not personal advice. When investing you need to consider your own circumstances and attitude to risk. If you’re unsure if an investment is right for you, you should seek advice. Remember, investments rise and fall in value, so you could get back less than you invest.

Invest for the long term

'Investments should be held for the long term' is said so often, it’s easy to ignore. While it’s not exactly exciting, time is the most powerful tool you have when investing.

You should buy something that if you had to put it away in a box for 10 years and forget about it, you would be happy to hold it for those 10 years.

Mr M from Essex

Be calm. If you are investing in shares, you should do it for the long term and not worry too much about the short-term noise.

Mr C from N Yorkshire

With all the ups and downs in the stock market recently the idea of committing to a fund or share for years and years might be scary. But in reality these uncertain times aren’t going to last forever. By investing over the long term it gives you a better chance of riding out the bumps along the road and allows more time for your money to grow.


Get your head around the power of compounding


Diversify – don’t hold all your eggs in one basket

While time is the most powerful tool in the long run, it’s much less likely to work if you don’t diversify – by this we mean having a mix of different investments.

It might seem obvious but it’s important not to have all your eggs in one basket and hold a number of different investments. I try to have a mixture invested in different geographies and sectors

Mr B from London

By holding a number of different types of investments across different sectors and geographies, it’s less likely for all of your investments to go down, losing you money.

Like Mr B does, holding a mix of investments is important if you want to achieve investing success like him. Over the long term it gives you a greater chance of growing your wealth.


Find out more about how to diversify


Don't overtrade

Sometimes not doing something is actually harder than taking action.

Overtrading – when you dip in and out of an investment to bank profits or take advantage of short-term dips – is often tempting but can be costly. Minor daily fluctuations are hard to read and overtrading can leave you vulnerable to missing out on some of the best days in the market.

Don’t overly worry about timing the market and try not to trade too frequently.

Mr M from Essex

I strongly believe actively trading is bad for your portfolio. Depending on the size of the share you buy, you can lose 0.5% every time you trade meaning if you trade that stock twice a year, that’s 1% gone immediately.

Mr L from Suffolk

While it’s important not to overtrade it’s also important to not go too far the other way and neglect your investments.

Over time, I realised that I was neglecting quite a few of my investments. I just didn’t have the time and wasn’t close enough to the companies I was investing in. That’s when I started to switch into funds and leave it to a professional manager to look after.

Mr B from London

If you feel like you have too much time where you might overtrade, or even not enough time to trade, you could always leave it to an expert. Unlike shares, funds are free to deal in with HL and will be managed daily by a professional fund manager. Other charges will apply.


See our list of funds with potential


Whilst we won’t all become millionaires, these investors share a lot of the same habits and whether you’re a new or experienced investor, we can all learn from their tips.


Learn more about the basics of investing


Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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