If you want to invest like a millionaire, be boring. Don't chase exotic stocks. Don't try to hit home runs in the market.
Millionaires make and grow their money the conservative way: by investing in established brand names from within the market's largest sectors and by using broadly diversified mutual funds. That's the overriding message from the CNBC Millionaire Survey.
"They accumulate their wealth by hitting a lot of singles and doubles," said Tom Wynn, director of affluent research at Spectrem Group, which polled 500 affluent Americans with more than $1 million in investable assets in November for CNBC. "And to do that," Wynn added, "they need to have a broad base of mutual funds to capture all of the sectors. In many ways, they are traditional with their investments."