The world’s wealthiest individuals tend to live where other rich people reside, with almost one-fifth of the ultra-wealthy population concentrated in just 10 cities globally. These ultra-high-net-worth individuals possess fortunes exceeding $30 million each, totaling $59.8 trillion collectively. Seven of these cities are in the U.S., attracting the super-rich due to financial opportunities and attractive lifestyles.

The ultra-wealthy in U.S. cities like New York, Los Angeles, and San Francisco are on the rise, with significant increases in UHNW residents over the past year. These individuals are drawn to these hubs for their thriving financial ecosystems, cultural offerings, and tax-friendly environments. They prioritize building and preserving wealth through diverse investments and strategic financial decisions.

Ultra-wealthy individuals exhibit key financial behaviors, including financial literacy, intentional debt management, and diversified investment portfolios. They focus on wealth protection through tax optimization, estate planning, and insurance strategies. Understanding and adopting these habits can benefit individuals at all wealth levels in managing their finances effectively.

By following practices such as maximizing tax-advantaged accounts, investing in diversified assets, and regularly reviewing financial portfolios, individuals can emulate the successful wealth management strategies of the ultra-rich. Seeking expert advice and focusing on long-term wealth preservation are essential components of financial success, regardless of one’s current financial status.

Read more at Yahoo Finance: The world’s ultra-wealthy flock to these 7 US cities. Here’s how they’re preserving their wealth (and how you can too)