Powerful Habits Every Self- Made Millionaire Swears
Dreaming of being a millionaire is very easy, but finding your way to get there is the most challenging part. To be successful and rich you do not have to be born into a wealthy family as most millionaires are not born rich, but they are self-made. In a survey by Fidelity Investments , approximately 80% of people who have a net worth of $1 million or more in the US, did it without a trust fund or inheritance
Tom Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals, studied 177 millionaires for 12 years. His findings clearly state that with the right habits- it is not a dream so far. According to Corley , ” intelligence, talent, and charm are great, but more often than not these are not what separate the wealthiest among us from the poorest. Instead, the differences are in our daily habits“.
So here are the 7 habits of self-made millionaires that you can adopt:
1. They read and learn every day
This one habit may sound very simple, and before you run to get the latest Chetan Bhagat or E.L. James book, remember the successful people do not read cheap fiction. According to Corley’s research:
63 percent listen to audiobooks during their commute.
51 percent read about history.
11 percent read purely for entertainment purposes.
79 percent read educational career-related material.
58 percent read biographies of successful people.
55 percent read for personal development.
94 percent read current events.
2. Reprogramming Your Brain to be Happy
The reason you can recall past experiences is that they are moved from our short- term memory to long -term storage. However, for an experience to go from the short- term cache to the long- term memory, it needs to be held in the short-term memory long enough for it to transfer to long-term memory.
3. They build strong relationship with the right people’s
According to Corley, building relationships with the right people success-minded individuals who can open doors for you through their relationships. Good luck likes to associate with positive-minded people”. It is also important to associate with individuals who share the same vision, ambition, and attitude.
We are only as successful as the people we spend the most time with and 86 percent of the millionaires Corley studied associate with other successful people.
4.They seek out expert mentors
They find and continually seek advice from mentors who are experts at what they do. Mentors open up doors for you and steer you down the right paths in life. They ask them questions, tapping their knowledge and experience.
“Finding a mentor is the fast track to wealth accumulation according to my study,” points our Corley. Ninety-three percent of the wealthy in his study who had success mentors attributed their wealth to those mentors.
5. Set goals, not wishes.
You cannot control the outcome of a wish, but you can control the outcome of a goal.
Every year, 70 percent of the wealthy pursue at least one major goal. Only 3 percent of those struggling to make ends meet do this.
6. Talk less and listen more.
A 5-to-1 ratio is about right: You should listen to others five minutes for every one minute that you speak. Wealthy people are good communicators because they are good listeners. They understand that you can learn and educate yourself only by listening to what other people have to say. The more you learn about your relationships, the more you can help them.
7. Don’t give up.
Those who are successful in life have three things in common: focus, persistence and patience. They simply do not quit chasing their big goals. Those who struggle financially stop short.