If you weren’t born rich, becoming a millionaire may seem like the stuff of fantasies. However, it would surprise you to know that you could be on the fast track to becoming a millionaire if you possess these millionaire success habits, even if you don’t feel like you are.
Do You Possess These 12 Millionaire Success Habits?
1. You Always Aim For The Moon
Most of us grew up hearing “Shoot for the moon. Even if you miss, you’ll land amongst the stars,” but only a fortunate few actually heed these pearls of wisdom. If you are someone who aims for an A, even when you can easily pass the course at B, your mind works like a millionaire. Why strive for $1 million when you can make 10. Continue to think big and you will attain your goals one day.
2. You Don’t Hesitate To Take Calculated Risks
People who live in fear of risks can never achieve big. Millionaires, on the other hand, are never afraid of going for the big prize. We are not saying that the rich and the prosperous act blindly, but rather that millionaires overcome fear with knowledge. If you take educated, well thought-out risks, keeping the consequences of failing at the forefront of your decisions, you are a future millionaire.
3. You Work With An Open Mind
You are very well aware of the fact that closed minds do not inspire imagination, belief, courage and faith. Successful millionaires welcome the flow of new ideas and are prone to venturing into untapped territories. They know how to change their psychological approach to happiness, success, and money.
4. You Put Experiences Above Material Possessions
If you possess millionaire success habits, you don’t spend your money unless it is for something that could provide you with new experiences or is aimed at your betterment. This includes advancing your education, learning new skill sets, or traveling the world to learn about new cultures. As for splurging on material possessions, you are always smart and practical with your decisions. You know that you really don’t need a €100k car to get to work when an effective and affordable one will do. You realize that material goods perish over time and there will always be something new. This is why 72% of millennial these days prioritize experiences over material possessions.
5. You’re Persistent
Most of us have big ambitions and start out on the right foot, but hardly reach the finish line. Most people give up at the first whiff of failure. However, if you are someone who doesn’t stop until they get what they want, you are destined to be a millionaire. If your initial plan doesn’t produce the desired results, you have more plans in backup. You keep switching plans until you find one that works. When we talk about millionaire success habits, persistence, especially in the face of adversity, can turn out to be a real game changer.
6. You Have An Action-oriented Mindset
Are you someone who jumps on opportunities as soon as you see them? This spells great news for you since such an action-oriented mind-set propels you to financial freedom. Here’s an example to help you grasp the idea. We all know that long-term investing yields a much greater output than short term trading. But despite the fact, many people still fail to make the most of their workplace retirement plan, their greatest long-term investment vehicle. How much do you contribute to your workplace retirement plan? Remember that under-utilizing retirement plans means that you aren’t on the right track to becoming a millionaire.
7. You Don’t Flaunt Your Wealth
Another trait we find common in millionaires is that they are able to live below their means. Instead of flaunting their wealth and indulging in meaningless luxuries, many live in modest homes, drive practical cars and don’t squander their hard-earned bucks on needless purchases. For instance, I put in 50 percent of what I make into my savings account which I can put towards investments. Such investments only go towards increasing your wealth in the long run.
8. You’re Not Stuck In The Past
Millionaires don’t dwell on the “good old days”. If instead of lingering in the past, you have gotten over fear, rejection and failure, and only concern yourself with the future, you are bound to live a prosperous life.
9. You Started Making Money At A Young Age
Another common trait we find in millionaires is that most of them started earning at a very young age. For instance, 6-years-old Warren Buffett would sell packets of gum to his neighbors, Mark Cuban sold trash bags door-to-door when he was only 12, while Richard Branson bred and sold parakeets at 11 years of age. You are bound to end up a millionaire if you have always exhibited entrepreneurial spirit as a kid, since this means that you have inclined towards ways of making money.
10. You Have To Set Your Priorities Straight
In addition to knowing what you want, you have got to stay focused on attaining it. However, it is easy to lose yourself in the midst of so many distractions. However, what successful people do differently is that they stay deeply focused on their goals and what is important to them, without succumbing to temptation. Millionaire success habits include setting your priorities straight from day one.
11. You Adopt A Glass Half-full Approach
Not everyone is born with a silver spoon in their mouths. Who better to who have played out the “from rags to riches” narrative than the author of Harry Potter: J.K. Rowling. The single mother on state benefits focused all her attention on the things that mattered to her the most. Just like her, successful people don’t wait for life to happen to them; they craft their own destinies.
12. You Never Stop Improving Yourself
While having a college degree can affect your net wealth, your degree doesn’t determine whether you’ll become a millionaire or not. After all, most famous billionaires were college dropouts (think Bill Gates). See how that didn’t stop Mark Zuckerberg, Jeff Bezos and their likes from continually improving themselves by feverishly reading and drilling themselves in new information or skills.
Do you know of any other millionaire success habits that you could incorporate in your life to walk the path of affluence? Do let us know in the comments below.