How Can You Tell If Someone Is a Millionaire?

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

If money is on your mind, you are not alone. A recent Harris Poll on Americans & Billionaires found that 60% of adults in the United States “want to become a billionaire one day.” Becoming a billionaire, however, is not so easy. There are only 735 billionaires in the U.S., according to Forbes’ 37th Annual World’s Billionaires List.

For most Americans, achieving millionaire status may be more realistic. The Global Wealth Report 2022, produced by the Credit Suisse Research Institute, notes that there were 24,480 millionaires in the country as of 2021. 

But to become a millionaire, you need a millionaire mindset. If you are ready to join the tens of thousands of people who have money in the bank and substantial assets to their names, then you need to know how they think as well as how they invest and spend their money. Luckily, there are a few things that most wealthy people do that can help you understand millionaires a little better. Here are eight subtle ways you can tell that someone is a millionaire.

They Value Their Time

One thing that sets millionaires apart is that they always place a high value on their time. Many quiet millionaires are surprisingly frugal, but they do not mind spending money on things that will save them time. They may hire a driver so that they can work during their morning commute or have a personal assistant to help them manage everything they have going on. 

They Don’t Talk About Money

Another tell-tale sign of a millionaire is that they don’t talk about money. They generally shy away from conversations about how much money they make or what assets they have. People who are genuinely wealthy usually do not like to discuss it. They don’t usually feel the need to show their wealth through flashy fashion or by bragging about their material items. 

Most of the time, millionaires are investors, but they don’t blab about their investments. They keep quiet about what has made them money but continue to acquire wealth throughout their lifetimes. 

Their Things Are Customized

While most millionaires aren’t interested in wearing head-to-toe logos, they do usually opt to have their clothing tailored. They also don’t mind spending more on customized furniture, cars and homes. Most people who have acquired some amount of wealth focus on quality instead of quantity. Their wardrobes tend to be classic and timeless. Their houses tend to be minimalistic but filled with high-quality pieces. 

They Own Multiple Properties

An undeniable sign that you are in the presence of a millionaire is that they own multiple properties. Real estate can be a great investment, but the average person usually can’t afford to buy more than one house. Millionaires, on the other hand, may have the means to purchase a vacation home or rental property. They may not talk about it, but if you pay attention, they may let it slip that they have a home in the Hamptons or Palm Springs. 

They Have an Expensive Hobby

If you meet someone that mentions yachting, fencing or golfing, you might be talking to a millionaire. Wealthy people frequently indulge in costly hobbies, and it isn’t just an occasional outing. 

Millionaires don’t just go golfing with friends, they belong to country clubs. They don’t just rent a boat, they own a yacht. While wealthy people may not always flaunt their money, they do like to make time for things that bring them happiness.

They Are Well-Traveled

Millionaires tend to be well-traveled. They traverse the globe immersing themselves in other cultures. They also may take longer vacations than most, spending a few weeks away or having no problem jetting off for just the weekend. 

As with their clothing and furniture, their travel is usually customized. Their itineraries are tailored to their specific needs, and they do not mind going private to get them to their destinations quickly. 

They Can Speak Multiple Languages 

If your newest acquaintance casually mentions that they can speak multiple languages, they might just be wealthier than you think. Millionaires may need to know how to speak another language for their business, or they may have simply wanted to learn it to keep pace on their travels. Either way, the ability to speak more than one language comes in handy in their everyday lives. 

The Keep a Close Circle

A final clue that a millionaire is a millionaire is the friends they keep. People with money tend to keep smaller friend groups. They may know a lot of people but only allow a limited number to get close. They keep their circle small in an effort to protect themselves and their family from scrutiny. 

Share This Article: