10 Unique Traits Of A Person Who Grew Up Rich, According To Psychology
Growing up rich doesn't make you better or worse than anyone else, but it does make you different.
nimito / Shutterrstock When people dream about being rich their first thought instantly goes to the money they'd spend. From designer clothes to big fancy houses the amount of possibilities are endless.
However, a person who grew up rich isn't that eager to reveal their status. In truth, most people would never even know if a person is wealthy unless they reveal it themselves. That said, there are some unique traits that wealthy people possess and by extension, can't hide.
The 10 unique traits of a person who grew up rich, according to psychology
1. They are ultra-confident and self-assured
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If a person grew up rich, they’re probably the most self-assured person in the room. With their head held high, these people don’t allow petty things such as insecurities to get the better of them.
Only ever receiving the best out of life, it doesn't make much sense for them to get insecure now. In their eyes, they don’t have a single thing to feel insecure about due to their high education and family status. On top of that, they’re probably extremely wealthy themselves due to their family’s privileges.
A study published in the journal Emotion found that people who have a higher income tend to be prouder, braver, and more confident. So, if someone has the opportunity to meet a person who grew up living the good life observe then them closely. They might find that this wealthy person is the most confident individual they ever met.
2. They're not easily impressed by materialistic things
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A person who grew up rich isn’t easily impressed by your Dyson air wrap or the brand-new Chanel purse. Growing up ultra-wealthy has taught rich people that designer clothes and makeup are just another cheap gimmick people fall for to make themselves look richer.
As a result, truly rich individuals avoid ‘tacky’ materialistic things and stick to unknown name brands. Though it might sound strange to everyone else, people who grew up rich comprehend that true wealth is silent.
Because of this, they aren't overly concerned about whether their shoes are Louis Vuitton or not. They'd rather invest in quality experiences rather than materialistic desires.
This is great for them, as research published by the Journal of Experimental Psychology found that spending money on experiences rather than possessions leads to greater and longer-lasting happiness.
3. They're knowledgable
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People would like to assume that privileged kids grow up facing zero obstacles in life. And sure, their lifestyle is a lot easier than those struggling to make ends meet. However, this doesn’t mean that they weren’t expected to meet high standards growing up.
In truth, rich parents place an abundance of expectations on their children. As a result, people who grew up rich are a lot more intelligent than others give them credit for. According to a study published in Intelligence, IQ scores and money made are related. Specifically, researchers found that each point increase in IQ tests is associated with a $202 to $616 increase in money per year.
Additionally, Cornell University notes that rich students have better opportunities, resulting in them making more money to maintain their wealth. This combination shows that although intelligence is sometimes genetically given, it can definitely be created with a little bit of wealth.
4. They have a questionable work ethic
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It’s never good to stereotype, but a person who grew up wealthy indeed has a particular way of getting things done. Instead of following the saying, ‘hard work pays off,’ they truly believe in the saying ‘work smarter, not harder.’
When thinking about billionaires such as Elon Musk, it never crosses people’s minds that they might be doing manual labor. As most people understand, billionaires typically make their money work for them, not the other way around.
As a result, don’t expect to find the rich clocking into a 9-5 job. Instead, most rich people oversee things and let others do the work for them, resulting in their having a strange or questionable work ethic.
5. They're highly anxious
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Another unique trait of a person who grew up rich is that they’re highly anxious. Being a rich kid doesn’t mean that problems cease to exist. Whether they’re an only child or have multiple siblings, their standard for reaching excellence is still the same.
Their parents absolutely expected high grades with zero exceptions. Combined with all the extracurricular activities they were made to take, is it any wonder why so many people who grew up rich are absolute perfectionists?
According to a study published in Current Directions in Psychological Science, kids who grow up rich tend to be more likely to develop anxiety. Researchers found that this is likely due to the excessive pressure to achieve or isolation from their parents.
This explains why so many rich people are perfectionists and, most importantly, why they’re so anxious.
6. They switch their identity a lot
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Many people who grew up rich don’t truly know themselves. Growing up in a wealthy family often meant that they weren't allowed to pursue their interests. Caught up in their family's expectations, there was little room to figure out who they were, leading to them switching their identity often as adults.
A study published in the Journal of Child and Family Studies found that children in wealthy families tend to struggle with identity formation. They explained that this is likely the result of feeling disconnected from their families and by extension, their communities.
Truly wealthy people might not feel as content as most people would like to think. Since they had to follow the lines placed in front of them, they never got to make their own decisions, resulting in an identity crisis that only got worse with age.
7. They're not impulsive and don't believe in taking risks
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Another unique trait of people who grew up rich is that they aren't impulsive. When watching stereotypical films, rich people are often portrayed as egotistical maniacs with zero self-control. As a result, most people assume that in order to be wealthy someone had to take crazy risks to make it to the top. However, this couldn't be further from the truth.
According to a working paper written by Antoni Bosch-Domènech and Joaquim Silvestre, though wealthy people are increasingly likely to take risks when the amount of money is small, the same can't be said about larger risks. Specifically, non-wealthy people were increasingly likely to take risks when the financial amount was larger compared to wealthy people.
This means that people who grow up rich won't likely risk their finances unless they’re confident that doing so will benefit them. Not wanting to lose out, they'll carefully weigh their investments before making a decision.
8. They're not agreeable
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Unsurprisingly, a person who grew up rich might not be the most agreeable. Used to a life of privilege, these individuals don't know what it's like to compromise and hear the word 'no.' As a result, they're hard-strong and stubborn, refusing to bend to other people's will unless it benefits their long-term goals.
Though this might sound like a stretch, this sentiment actually aligns with a study published in the Financial Planning Review, which found that agreeableness is associated with less wealth.
This is why rich people should be careful and learn how to throw in the towel every blue moon. Otherwise, they may be categorized as another rich kid who doesn't care about anyone but themselves.
9. They're not that social
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It might come as a surprise, but a person who grew up rich isn't likely to be all that social. Being used to going to small private schools and isolated from most of society hasn't allowed them to make that many friends.
Not only that, most rich people don't feel the need to have that many friends in the first place. According to researchers from Emory University and the University of Minnesota, wealthy people spend less time socializing.
Specifically, a survey analyzing 120,000 American responses found that people with higher incomes spent less time socializing and more time alone. Furthermore, if they did spend time socializing, they tended to do it more with friends rather than family.
10. They're emotionally stable
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Finally, growing up rich is often associated with being wild and reckless. Most people would assume that wealthy people couldn't possibly have control over their emotions, but this stereotype is just another common misconception.
According to a study published in Income, having better emotional regulation was associated with greater well-being, socioeconomic status, and greater income.
That said, having the ability to control one's emotions isn't all that easy. For most people, it takes a lot of restraint and training to get a hold of their thoughts and feelings. Yet, unlike most people, people who grew rich understand that to truly be successful they must control their minds first.
Marielisa Reyes is a writer with a bachelor's degree in psychology who covers self-help, relationships, career, family, and astrology topics.