Published by Matthew Gustin
1 year ago
Nowadays everyone tells you what you have to do in order to become a millionaire. But now it’s time to think about what you can’t do. Of course, discarding these habits isn’t an 100% guarantee of success, but you increase your chances by doing so and you’ll surely not get rich by keeping them.
If you constantly live above your financial capacities, you probably suffer from stress and aren’t capable of building up wealth. Even if your wage gets raised, you shouldn’t be thinking about raising your standards. Self-made-millionaire Grant Cardone bought his first luxury car and luxury watch only after his company and his investments could guarantee him a high salary. After reaching his first million, he still drove a Toyota Camry.
“The average person has been brainwashed to believe rich people are lucky or dishonest,” writes self-made-millionaire Steve Siebold. “The truth is, in a capitalistic country, you have every right to be rich if you’re willing to create massive value for others. If you want to be rich, the first step is to believe you deserve it.” Ask yourself “why not me?” instead.
In his book, Change Your Habits, Change Your Life, Thomas C. Corley writes that self-made-millionaires don’t rely on just one source of income. They have multiple sources. In this case the number three seems to be the key. 65% had at least three sources of income, that they had built before or during their first million. Common income sources are rent income, shares and stocks or equities of companies.
Rich people never stop learning. Even after their graduation they remain eager for knowledge. Daniel Ally, also a self-made-millionaire, says that employees often make their education dependent on the employer. They want him to buy them books or to send them to courses and seminars. At the end you’ll need to take the responsibility of your (self-)education upon yourself if you want to get further in life. Invest in yourself.
One great hack, is that you have to surround yourself with the best in order to learn from them. That doesn’t mean, you have to forget your current friends. It simply means that if you want to get rich, you need to find role models or people who already achieved what you want to achieve.
The logic is simple. If you want to be fit, you go to the gym and find there really athletic people, if you are interested in religion, you go to church to connected with like minded. So, if you want to get rich, you should surround yourself with wealthy people and learn from them. Then people of the same kind stick together.