5 Financial Moves People Make Years Before They Ever Feel ‘Rich’
Written by
Laura Bogart
Edited by
Kristen Mae
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It’s easy to say that being rich isn’t a state of mind — after all, your investment account either has multiple commas or it doesn’t. Yet there are certain feelings attached to wealth, like the confidence that you and your family are financially secure, the relief of knowing your retirement is funded, and the freedom to afford small luxuries without stress.
This sense of security doesn’t typically come from a single raise, bonus or investment gain. Instead, it’s built over time through calculated, intentional financial decisions made over the course of years, often long before the feeling of “being wealthy” sets in.
In other words, good financial vibes don’t happen on their own — you’ve got to put in the work to feel rich. To learn more about the moves that matter most, GOBankingRates spoke with financial experts and conducted its own research.
1. Building Good Credit
As the head of community at Self Financial and a financial behavioral strategist, Dr. Brittany Greene understands the emotional factors behind personal wealth.
“When people talk about wanting to feel ‘rich,’ what they’re often really looking for is peace of mind,” she said. “That sense of financial confidence starts with having the basics in place, and one of the most overlooked basics is credit.”
Your credit score quietly influences many of your life goals, from qualifying for a mortgage or auto loan to securing better interest rates or even pursuing certain job opportunities. A strong credit score broadens your access to the life you really want. Greene views good credit as the bedrock of a lifestyle that feels wealthy — or at least unrestricted.
“When your credit is strong, you’re creating access and future opportunity, with the ability to move through life with more options and less stress,” she said.
2. Saving and Investing Early and Often
To grow your money and make it last, Robert R. Johnson, a professor of finance at the Heider College of Business at Creighton University, says you’ve got to save and invest regularly. Don’t wait until you’re earning a brag-worthy salary to start — do it now to let time and compound growth work their magic.
“The greatest asset for building wealth is time,” Johnson said. “Achieving true financial security and wealth is done not by simply saving, but by both saving and investing. Because of compounding, time is the greatest advantage of investing.”
Developing the habit early builds the foundation for long-term financial stability — the kind that allows you to feel rich down the road.
3. Taking Reasonable Risks
As people begin investing, Johnson warns against a common mistake: being too conservative for too long. He often sees this happen inside retirement accounts, where fear of losses can overshadow long-term goals.
While caution is understandable, Johnson maintains that the surest way to build lasting wealth for retirement is by investing in the stock market. He points to data to back up that belief.
“According to data compiled by Ibbotson Associates, since 1926 the average annual return on a large-capitalization stock index (think S&P 500) is 10.4%,” he said. “If these historical average returns hold in the future, an investor would double their money in slightly over seven years and have 10 times their original investment in 23 years.”
Recalling an old Wall Street adage “You can sleep well or eat well,” Johnson explains that low-risk investments like money market funds or Treasury bills may help investors sleep at night, but they often struggle to outpace inflation. Conversely, the stock market has historically offered greater growth — and a better chance of feeling financially secure later in life.
4. Building a Financial Legacy
Growing wealth in your own lifetime is rewarding, but people who feel truly rich also work toward creating generational wealth. They teach their children how to confidently manage money — and even make learning fun.
The rise of family-friendly money tools and apps allows teens to get hands-on financial experience. For example, the popular money app Cash App offers a “Families” feature that allows parents and caregivers to set up supervised teen accounts. These accounts let kids use debit cards, save money, send funds and even invest — all in a monitored environment.
Families can also set shared savings goals and track progress together, creating natural opportunities to talk about maintaining smart financial habits long term. These kinds of money lessons can pay dividends well beyond a single generation.
5. Living Within Your Means
Sure, having a Mercedes-Benz idling in the driveway might make you feel rich. The same goes for a lavish trip to Belize. But if your budget is drained dry afterward, you’re only cosplaying wealth instead of actually developing it.
According to Jaymon Meikle, a certified financial planner and wealth advisor at Gertsema Wealth Advisors, living within your means is the best way to get to a point of feeling rich. He’s seen this approach work for his own clients because it keeps their expenses below their income, enabling them to save, invest and avoid chronic financial stress.
“No matter how much you might have in savings or investments, it’s hard to feel ‘rich’ if you’re constantly playing catch-up because your expenses are higher than your income,” Meikle said.
The Bottom Line
Feeling rich isn’t about indulging in extravagances — it’s about stability, choice and confidence. People who feel wealthy tend to save and invest consistently, live within their means and set future generations up for success, and they put these habits in place long before they ever feel rich.
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