10 Habits of Quiet Millionaires (and How You Can Follow Their Lead)

Discover the 10 habits of New Zealand’s quiet millionaires – how they build real wealth, avoid lifestyle traps, and live with purpose, not pressure.

Updated 8 July 2025

Summary - Why We've Put This Guide Together

In a world obsessed with flaunting wealth, the people who quietly build it are often overlooked.
At MoneyHub, we believe the habits of these "quiet millionaires" hold the real secrets to financial freedom. They don't chase likes, labels or lifestyles - they build security, flexibility, and peace of mind.
This guide explains the mindset and behaviours that consistently lead to long-term wealth in a New Zealand-specific context.
Whether you're starting from zero or already on your way, we list ten habits that can help you build a life where money works for you, not the other way around.

Quiet wealth isn't about luck - it's about deliberate, disciplined choices repeated over time. Our guide provides a comprehensive explanation of everything you need to know. We cover:

Know This First: What Does "Millionaire" Actually Mean in 2025 New Zealand?
A "millionaire" traditionally means someone with a net worth of $1 million or more – that's assets minus liabilities. In New Zealand's 2025 context, this might look like:

A $1.2 million home with a $200,000 mortgage
$150,000 in KiwiSaver
$100,000 in managed funds
$50,000 emergency fund
Two cars worth $40,000 total
Net worth: Around $1.3 million

However, here's the reality check: With New Zealand median house prices approaching $1 million, many homeowners are technically "millionaires" yet still struggle with cash flow. True quiet millionaires focus on liquid wealth – investments that generate income and provide financial flexibility, not just paper wealth tied up in their family home.

A more meaningful target? $1 million in investable assets outside your primary residence/home. This provides genuine financial independence through a passive income of $40,000 to $50,000 annually at a 4-5% withdrawal rate.

Important: Relationship Realities and What to Do When Your Partner Isn't On Board
Money is the leading cause of relationship stress in New Zealand, and mismatched financial values can derail even the most well-planned wealth-building strategies. Here's how quiet millionaires navigate this:

Communication Before Combination: They have explicit money conversations before combining finances. Topics include debt levels, spending habits, financial goals, and money mindsets shaped by upbringing.
The Three-Account System: Many successful couples use "yours, mine, and ours" accounts. Joint expenses (mortgage, power and broadband, supermarket) come from "ours," while personal spending comes from individual accounts. This reduces conflict while building wealth together.
Values Alignment, Not Perfect Agreement: Partners don't need identical money habits, but they need aligned values. One might be a natural saver, while the other is a spender – success comes from finding a middle ground and respecting differences while working toward shared goals.
Relationship Property Act Considerations: While it may be uncomfortable for New Zealanders to discuss, protecting pre-relationship assets or family wealth isn't unromantic – it's pragmatic. Quiet millionaires understand that hope isn't a financial strategy. They seek legal advice early with prenuptial agreements (Prenups), especially when bringing significant assets, businesses, or inheritances into a relationship.

Preparing for the Journey
Building quiet wealth isn't just about money – it's about developing resilience for a path that can feel lonely when everyone around you is financing their lifestyle. Please know that the following will occur, but you'll be better off by investing rather than spending:

You'll often feel "behind": Social media makes everyone else appear wealthier. Remember - debt creates illusions of wealth.
FOMO is expensive: You'll skip trips, dinners, and purchases others indulge in. This isn't deprivation – it's prioritisation.
Success attracts expectations: As your wealth grows, even if you are quiet, requests for loans, investments in "sure thing" businesses, and guilt trips multiply. Prepare your responses with AI tools such as ChatGPT and Grok.
The goal posts move: First it's $100,000, then $500,000, then $1 million. Quiet millionaires celebrate milestones without losing sight of the bigger picture.

Are you ready to join the ranks of New Zealand's quiet millionaires? We outline the ten habits below that will get you there:

The 10 Habits You Need to Know

They Drive Boring Cars (And Sleep Better Because of It)

Walk through any wealthy suburb and you'll see them: 2015 Toyota Camrys, well-maintained Honda Accords, maybe a sensible SUV that's three years old instead of three months. These aren't the cars of people who can't afford better – they're the vehicles of people who understand that cars are depreciating assets, not wealth-building tools.

Quiet millionaires refuse to get into debt for something that loses 20% of its value the moment they drive it off the lot. While their colleagues are signing up for $80,000 ute loans with seven-year payment plans, quiet millionaires are buying reliable, efficient vehicles with cash and investing the difference.

Car finance is brutal for those who can't afford it: That $80,000 flashy vehicle costs around $1,200 per month in payments over seven years. A quiet millionaire buys a $30,000 reliable, often used car with cash and invests the $1,200 monthly payment instead, dollar-cost averaging. Over those same seven years, at a conservative 7% return, they've accumulated over $130,000 in investments. The showoff has a depreciating asset worth maybe $40,000. The quiet millionaire has built a six-figure investment portfolio.

Our View: Your car gets you from point A to point B. Anything beyond reliable transportation is, arguably, an "ego tax". Quiet millionaires pay themselves first, not the car dealership or the car finance company.

This doesn't mean driving a rust bucket or being unsafe. It means choosing function over flash, reliability over recognition. Wealthy New Zealanders maintain their vehicles well, drive them for 10-15 years, and when it's time to replace them, they repeat the process. Boring? Absolutely. Wealth-building? Always.

Their Homes Are Sanctuaries, Not Showpieces

Step inside a quiet millionaire's home and you might be surprised. No marble countertops, no expensive fridge, no 'nice to have' features that add up to most people's annual salary. No designer furniture that requires taking on debt or unnecessary renovation projects, designed to impress more than deliver.

Instead, you'll find something more valuable: peace. Their homes are sanctuaries designed for living, not performing. They're comfortable, functional, and paid for (or close to it).

Quiet millionaires understand that your home should enhance your life, not dominate your budget. They buy homes they can afford without stretching, in good neighbourhoods that hold their value. They resist the urge to buy the biggest house the bank will approve, instead choosing mortgage payments that don't keep them awake at night.

When they do renovate, it's for functionality or genuine enjoyment, not to create content for social media. They'll spend money on a quality mattress because sleep matters, or a good kitchen because they cook at home frequently.

Our View: "House-poor" is too common in New Zealand; quiet millionaires opt for mortgage freedom over high-spec design that comes with debt.

This approach extends to maintenance and improvements. Quiet millionaires handle small repairs themselves or hire quality tradespeople for bigger jobs. They invest in their homes wisely, focusing on improvements that enhance their daily living or add genuine value, not Instagram-worthy features that drain their wealth-building capacity.

They Master the Art of Invisible Assets

Quiet millionaires collect invisible assets - investments that don't go on display for neighbours to see, but instead build the foundation of lasting wealth.

KiwiSaver Maximisation: Every quiet millionaire in New Zealand maximises their KiwiSaver contributions and understands the magic of the government's contribution, even if it is being disestablished for those earning over $180,000 a year. Quiet New Zealand millionaires choose growth funds when they're young and gradually become more conservative as retirement approaches. They never touch their KiwiSaver early unless it's for a first home deposit – and even then, they calculate whether that's truly their best option.

Share Market Investing: They understand that owning pieces of businesses through shares or managed funds is how wealth compounds over decades. They're not day traders trying to get rich quick – they're long-term investors who buy quality companies and hold them through market cycles.

They are not signing up for investing courses sold by online 'gurus' with TikTok channels and podcasts; instead, they automate their investing, contributing to diversified portfolios every month, regardless of market conditions.

Growth Fund Investing: Beyond KiwiSaver, they invest in managed funds that spread risk across hundreds or thousands of companies. They understand that while individual shares can be volatile, diversified growth funds have historically delivered solid returns for patient investors.

Strategic Real Estate: If they invest in property beyond their family home, they do so strategically - there are many risks associated with property, as our guide explains. They research locations, understand rental yields, and ensure positive cash flow. They're not flipping houses for quick profits – they're building rental income streams that appreciate over the course of decades.

Our View: Quiet millionaires build silently but compound consistently. Their wealth grows investment accounts, not showrooms and Instagram posts.

They automate these investments, treating them like non-negotiable bills. They understand that wealth building isn't about timing the market or finding the perfect investment – it's about time in the market and consistent contributions to diversified portfolios.

They Choose Freedom Over Flashy Titles

The reality is simple - many New Zealanders need jobs to build wealth, and there's absolutely nothing wrong with working hard and getting ahead. Quiet millionaires often have successful careers and may even hold impressive titles. The difference is in their motivation and priorities.

They Don't Chase Titles for Status: While others angle for promotions primarily for the prestige and the ability to update their LinkedIn profiles, quiet millionaires focus on roles that maximise their earning potential and align with their values. They're strategic about career moves, considering work-life balance, learning opportunities, and pay packages holistically.

They Prioritise Peace Over Politics: Office politics exist everywhere, and quiet millionaires navigate them professionally. But they don't sacrifice their mental health or family time to win political games. They build relationships, contribute value, and focus on results rather than getting caught up in workplace drama.

Family and Freedom Always Come First: Quiet millionaires consider the impact on their families and personal freedom, and this means they may turn down a promotion that requires 60+ hour workweeks and constant travel, even if it comes with an impressive title and a salary increase. They understand that time is their most precious asset.

Strategic Career Building: This doesn't mean they lack ambition. Quiet millionaires are often highly successful in their professional endeavours. They invest in skills that increase their earning potential, take calculated risks, and build valuable professional networks. The difference is that they view their careers as wealth-building tools, not identity-defining pursuits.

Our View: Success isn't just about climbing higher – it's about building a sustainable career that funds your wealth-building goals without sacrificing what matters most. Quiet Millionaires understand that the highest-paying job isn't always the best if it comes with golden handcuffs that prevent them from building wealth in other areas of their lives.

They're Unbothered by Others' Opinions

Peer pressure is expensive, and many millionaires have developed immunity to it. They've figured out that wealth whispers while insecurity shouts, and they're comfortable letting their bank accounts do the talking rather than their possessions.

They Resist the Yes-Trap: When friends suggest expensive group holidays, dining at expensive restaurants, or joining costly social activities, quiet millionaires politely decline when it doesn't align with their values or budget. They're not antisocial – they suggest alternatives that are high-yield but don't have the high costs - beach trips, BBQs and other activities that build relationships while avoiding big bills.

Brand Independence: They're not swayed by marketing campaigns or influencers promoting the latest "stuff" online. They make purchasing decisions based on value, quality, and genuine need, not brand prestige or social media trends.

Confidence from Purpose: Their self-worth isn't tied to others' approval of their lifestyle choices. They derive confidence from knowing they're building something meaningful – financial security, family stability, future freedom. This internal scorecard makes them immune to external pressure to spend money they don't want to spend.

Social Media Detox: Many quiet millionaires limit their social media consumption or carefully curate their feeds. They understand that constant exposure to others' highlight reels can trigger unnecessary spending and dissatisfaction with their progress.

Our View: True confidence comes from knowing you're on track to achieve your goals. Being financially responsible and doing "more with less" is the cornerstone of MoneyHub. Quiet millionaires find joy in progress rather than possessions, in security rather than status symbols. This mindset shift is often the turning point that separates future millionaires from those who will struggle financially.

They Focus on Energy, Not Stuff

Quiet millionaires understand a fundamental truth: energy is a form of wealth. They protect their physical health, mental well-being, and emotional energy, recognising them as precious resources, rather than trying to buy happiness through material possessions.

Health is Their Foundation: They prioritise quality sleep, regular exercise, and a nutritious diet. They understand that the costs of getting sick can be more than financial, and that energy levels have a direct impact on earning potential. They'll spend money on a gym membership, quality running shoes and quality groceries because these investments pay dividends in energy and longevity.

Stress Management: They avoid high-stress financial situations that drain their mental energy - this includes buying a house they can't afford with a big mortgage that keeps them awake. This means living below their means, maintaining emergency funds, and not overleveraging themselves with debt. Financial stress is expensive – it affects decision-making, health, and relationships.

Time Protection: They're selective about how they spend their time, understanding that time is the only resource they can't replenish. They'll pay for services that free up their time for wealth-building activities or family time – house cleaning and lawn care are popular options.

Quality Over Quantity: When they do make purchases, they prioritise quality items that last longer and perform better. They'd rather buy one excellent coat that lasts ten years than ten cheap coats that need to be replaced annually. This approach reduces decision fatigue and long-term costs.

Our View: Every purchase should either save you energy, give you energy, or generate energy (income). Everything else is just clutter. Quiet millionaires know that the "pursuit of stuff" is exhausting, while the pursuit of financial security is energising. Don't be caught up in it - it's the definition of zero-yield.

They Think in Decades, Not Moments

Quiet millionaires operate with a legacy mindset that extends far beyond their lifetimes. They make decisions based on how those choices will impact their families and future generations, rather than just pursuing immediate gratification.

They truly understand the magic of compound interest and how small, consistent actions over long periods create extraordinary results. A $500 monthly investment, starting at age 25, can grow to over $1.3 million by age 65 at a 7% annual return. They know this and invest first and spend second.

Teaching Financial Literacy: They raise children who understand that happiness never comes from having the latest everything. They teach delayed gratification, the value of money, and how to make smart financial decisions. Their kids learn to find fulfilment in experiences, relationships, and personal growth, rather than material accumulation.

They don't chase get-rich-quick schemes, investing courses from online gurus and 'experts', nor do they panic during market downturns. They stay invested through multiple market cycles, understanding that wealth building is a marathon, not a sprint.

They Embrace Strategic Boredom

Boring Investments Win: While others chase cryptocurrency trends and hot share tips, quiet millionaires stick to boring, proven wealth-building strategies. Index funds, dividend-paying shares, and diversified managed funds may not sound exciting, but they build wealth.

Routine-Driven Success: Quiet millionaires automate their wealth-building through regular, mundane processes. Automatic transfers to investment accounts, dollar cost averaging, regular KiwiSaver contributions, and consistent spending patterns that don't require constant decision-making.

Our View: Boring is profitable. Excitement in personal finance usually means risk, fees, or poor decision-making.

Quiet millionaires know that wealth building is like watching grass grow – incredibly boring day-to-day, but the results over time are spectacular. They find excitement in watching their net worth grow rather than in the process of growing it.

They Master the Art of Selective Splurging

Strategic Spending: Quiet millionaires aren't cheap – they're strategic. They spend generously on things that truly matter to them while ruthlessly cutting expenses that don't add value to their lives.

Value-Based Purchasing: They identify their core values and allocate their spending in alignment with those values. If family experiences matter most, they'll spend on a holiday while driving older cars. If health is a priority, they'll invest in quality food and fitness while wearing basic clothes.

Quality Investment Pieces: When they do splurge, it's on quality items that last. They'll buy expensive tools that last decades, quality furniture that won't need replacing, or experiences that create lasting memories. They are not interested in filling their homes with shiny things advertised on social media.

Opportunity Cost Thinking: Before any significant purchase, they consider the opportunity cost – what else could this money do if invested instead? This doesn't stop them from spending, but it ensures their spending is intentional and mindful.

Our View: Spend extravagantly on your values, ruthlessly cut everything else. Every dollar should either align with your priorities or contribute to building your wealth.

They Build Systems, Not Dreams

Quiet millionaires create systems that automatically build wealth. Direct debits for investments, automatic KiwiSaver contributions, and systems that make saving and investing as effortless as possible.

Instead of focusing on outcome goals, such as "become a millionaire," they focus on process goals, like "invest $1,000 monthly" or "increase income by 10% annually." These process goals are within their control and lead naturally to wealth accumulation.

They maintain emergency funds not only for financial security, but also for opportunities. When investment opportunities arise or unexpected expenses occur, they have systems in place to handle them without derailing their long-term plans.

They have systems for regularly reviewing their financial progress, adjusting strategies as needed, and staying on track toward their goals. This might be monthly budget reviews, quarterly investment assessments, or annual financial planning sessions.

Many quiet millionaires systematically build multiple income streams over time. This might include career advancement, side businesses, rental properties, or dividend-paying investments.

Our View: Wealth building happens in the systems you create, not in the motivation you feel. In a world obsessed with financial performance, perhaps the most radical act is building wealth quietly, consistently, and on your terms.

The choice is yours: Chase shiny things or choose freedom. The quiet millionaires of New Zealand have made their choice, and their healthy investing accounts, bank accounts, and small (or zero) mortgages reflect the wisdom of that decision.

Frequently Asked Questions

I'm starting from zero (or negative) in my 30s/40s. Is it too late to become a quiet millionaire?

No, you have advantages that younger people don't. You likely have higher earning power, clearer values, and less susceptibility to peer pressure. A 35-year-old investing $1,500 per month can still accumulate over $1.8 million by age 65 (at 7% returns).

The key is to start now and increase your savings rate to compensate for lost time. Many quiet millionaires don't hit their stride until their 40s when career earnings peak. Your experience is an asset, not a liability.

My partner loves nice things and thinks I'm being "stingy." How do we find middle ground?

This is about values alignment, not changing your partner. Try the "10% splurge rule" – agree that 10% of after-tax income can be spent on whatever each person values, no questions asked. If they want something like a motorbike or a bag, and you want to invest in funds, both are valid options.

The key is agreeing on the other 90%. Also, show them the calculations: "If we invest X instead of buying Y, we can retire 5 years earlier and travel the world." Sometimes seeing concrete timelines shifts perspectives. If they still resist, consider financial counselling – it's cheaper than divorce.

Should I tell my kids about our wealth? I don't want to create entitled brats

Yes, but strategically and age-appropriately. Young children need to know "we have enough" – they shouldn't worry about money. Teenagers can understand "we're comfortable because we make smart choices."

University-age children should have sufficient knowledge to make informed decisions about student loans and career choices. The key is framing wealth as a responsibility, not a free pass. Share the habits that built the wealth, not just the balance. Many quiet millionaires employ the "family financial meeting" approach – annual discussions about values, goals, and responsibilities that become more detailed as children mature.

The housing market seems impossible, even if prices are flat or falling. Should I just give up on homeownership?

Don't give up, but be strategic. Quiet millionaires often:

Buy in emerging suburbs rather than established ones
Start with apartments or townhouses rather than 'forever' homes
Consider house-hacking (renting out rooms)
Save aggressively for 2-3 years to hit 20% deposits, or
Invest in shares or funds first, then use the returns to supplement a deposit.

Important: Renting while investing aggressively can build wealth faster than stretching for a mortgage. The goal is wealth, not homeownership at any cost. Run the numbers for your situation.

How do I deal with FOMO when everyone's living their best life on social media?

First, recognise that social media is everyone's highlight reel financed by debt. That European holiday in the middle of the dark New Zealand winter? Probably on credit cards. The new Honda? Seven-year loan.

Quiet millionaires curate their feeds ruthlessly – unfollow accounts that trigger spending impulses, follow those aligned with your values. Remember: in 10 years, you'll have investment accounts worth hundreds of thousands while they're still making minimum payments.