Disciplined behaviours are key to protecting and growing wealth, according to Gavin O’Sullivan of BJR Financial in Mallow.
Speaking to the Irish Independent recently, O’Sullivan outlined the strategies his wealthier clients use to safeguard their finances and ensure long-term stability.
O’Sullivan says that, contrary to popular perception, many affluent clients are careful with their spending and avoid flashy consumption.
“These clients know what eats into their wealth is high recurring costs, overspending, or poor financial habits,” he explained, emphasising that financial prudence is often more important than high earnings when it comes to preserving wealth.
Diversification is another key pillar of their approach. Wealthy clients typically avoid putting all their resources into a single asset class, such as property, instead spreading investments across multiple areas to reduce risk. “They ensure their wealth isn’t overly exposed to one asset class and invest in a range of other asset classes. In other words, they don’t put all their eggs in one basket,” O’Sullivan told the Irish Independent.
Long-term planning and consistency are also crucial. O’Sullivan notes that his clients rarely try to “time the market” but focus instead on gradual accumulation through regular investments, sticking to their strategies even during periods of market volatility. Additionally, accessible emergency funds are a common feature, allowing clients to avoid forced sales or distressed financial decisions.
He also highlights that strategic giving is part of their financial approach. Many wealthy clients make early gifts to children or heirs to take advantage of tax efficiencies, while carefully ensuring their own financial security is not compromised.
O’Sullivan’s observations are a reminder that financial success is often built on consistent, disciplined habits rather than flashy or impulsive spending.
