Habits of Self Made Millionaires

A lot of  people like to think that most millionaires are rich because they had things handed to them on a silver platter, or because they were born with a silver spoon in their mouth. The reality is that most millionaires are self made, and had to work hard to get where they are. The book “The Millionaire Next Door” says that fully 80% of millionaires are first generation affluent.

So what are they doing to become millionaires, read on. If you are already one, do share some pearls of wisdom in the comments for us to learn from. Thank you.

  • They think in Abundance. There is no shortage of money on this planet, only a shortage of people who think correctly about it. As you are reading this, there is $2.3 trillion dollars circulating around the globe every day, and that amount is destined to grow throughout time.
  • Surround yourself with like minded Individuals. You are the sum of the 5 people you spend most of your time with. At the risk of being portrayed as arrogant, rich and successful people value their network of friends because rich people build rich networks.
  • Shift focus from spending money to making money. Instead of becoming a consumer, become a producer. Instead of buying more, sell more. Instead of buying books, sell books. You get the idea? Not that there is anything wrong with consuming, it is simply that rich produce more than they consume.
  • No television. Did you know why you don’t see ads for Lamborghinis on TV? It’s because the people who can afford them don’t waste time sitting on the couch.
  • Multiple streams of income. You will make your millions much faster and less risky than depending on just one source of income (And it better not be your day Job!).
  • Be Generous. The truly rich people think about serving others and giving back to the community. The currency of real networking is not greed but generosity.
  • Have an exit strategy. Every time you hear someone seemingly become a success overnight, it is actually backed by effort and turmoil. Ultimately all the multi millionaires and even billionaires get their biggest breaks when they sell their business away, which is actually the ultimate exit strategy. WhatsApp was started in 2009 and sold for $19 Billion in 2014.
  • Get into properties. Also known as Wealth 1.0. This is the most time tested vehicle to creating and protecting your wealth since centuries. If you really don’t know what to do with the excess of your money, you cannot go wrong putting them in properties.
  • Leaders are Readers. For the rich and successful, learning never stops even after graduation.
  • Always be hustling. All the tips, tricks and trade secrets in the world won’t amount to anything if you just sit around. As you can see, successful people are not necessarily smarter or more talented, they simply hustle more and don’t despair easily when the going gets tough.

https://www.billionairegambler.com/2016/09/10-habits-of-self-made-millionaires.html

20 Comments Add yours

  1. LOVE, LOVE, LOVE this! So many great points and I agree completely. I was telling the lady at the Winners store (Canada’s version of TJMAXX) that I can’t be bothered to take the time to fill out the survey on the cash receipts to win their prize because it takes too much time and I could be using that exact block of time to MAKE money online. LOL!

    Liked by 2 people

    1. Garima says:

      Hahhahhhah that was a good call Maggie. The work begins within first. Consistency is key!!

      Liked by 1 person

  2. Wonderful thoughts and ideas although I do also believe that it is nurturing the right relationships, being in the right place at the right time.
    When you consider the attributes of millionaires and I am fortunate to know a few in my local area they have a desire to succeed, they have the right people around them and the resources.
    They also have a wonderful ability to read the markets and buy into the things that will make them money.

    Liked by 1 person

    1. Garima says:

      Paul we can only make the effort and keep our vibe high. Everything will fall into its rightful place eventually.

      Like

  3. Durkwa says:

    A lot of people with exotic cars watch “Game of Thrones” only that they watch it from a Bang & Olufsen TV set.

    Liked by 1 person

    1. Garima says:

      Hahahhahahha so much fun

      Liked by 1 person

    1. Garima says:

      Thank you for reblog.!

      Like

    1. Garima says:

      If you want to be a self-made miracle success story, you’re going to have to work and study a lot harder than everybody else. You’re going to have to constantly push yourself—never let yourself get complacent, stop learning, or cease seeking out new challenges. Make to-do lists and complete them. Then make new ones. Thank you for stopping by. I am glad you liked the post.

      Liked by 1 person

  4. Darazizi says:

    I’m learning to drastically reduce my TV watching hours in order to become more productive with the use of my mine. Thanks for sharing such great tips❤

    Liked by 1 person

    1. Garima says:

      “TV will never be a serious competitor for radio because people must sit and keep their eyes glued on a screen; the average American family hasn’t time for it.” – Author Unknown, from New York Times, 1939. Life is meant to be lived, not watched. To get started living your own life rather than watching others live theirs, consider its impact on your life.

      Liked by 1 person

  5. ibeaheard says:

    This is a wonderful post. It fits perfectly with a book I just read entitled: “The Traveler’s Friend,” Written by Andy Andrews. It is worth reading. It also hits the points mentioned here by you. Thank you both for your inspiring words. You have been upliftingly heard!

    Liked by 1 person

    1. Garima says:

      Thank you for the book recommendation. Sending more positive vibes your way 🙌🏼🙌🏼

      Like

  6. Chandeline says:

    I loved the comment about Lamborghini’s! 😨 so much time is wasted watching television

    Liked by 1 person

    1. Garima says:

      Yassssssss 🙌🏼🙌🏼🙌🏼
      But not anymore 🙏🏼🙏🏼

      Liked by 1 person

  7. An exceptionally composed with lots of things to be learned. Kudos to you 👍.

    Liked by 1 person

    1. Garima says:

      Most millionaires are self-made. They also have habits that help them accumulate wealth: “Your habits are the reason why you’re rich or poor,” says Tom Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals. “In fact, it’s often two or three habits that separate the wealthy from those who are financially challenged.”

      Like

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