Unless you win the lottery or the recipient of a large inheritance then
building your own personal wealth will take years of consistent work and smart
decisions but keeping up with this daily grind takes more than just motivation it
takes specific habits that when implemented can lead you to generating
more wealth than you ever imagined luckily we can learn the routines and
practices we need to enjoy tremendous wealth results which is why in this
video I will share with you eleven effective habits that all rich people
have and if you're new to the channel then hit the subscribe button below for
more life-changing content have a number one getting up early you've probably
heard the saying the early bird gets the worm and that worm is boatloads of money
studies have shown that ninety percent of executives wake up before 6:00 a.m.
on weekdays with nearly 50% of self-made millionaires waking up at least 3 hours
before their workday actually begins in short the rich know just how powerful
getting up early can be research has shown not only are early risers more
optimistic and conscientious they also anticipate problems and minimize them
more effectively and when you think about it getting rich is all about
solving problems for instance Bill Gates solved the problem of providing the
world with personal computers which way has been the world's richest person
multiple times in his life well the wake up times can vary with
people like Apple CEO Tim Cook getting up at 3:45 a.m. daily
- Oprah waking up at 6 a.m. there's no doubt that getting up before the rest of
the world truly does give you a leg up on your competition hobby number two
reading one of the main reasons people are able to accumulate ridiculous wealth
is because they have knowledge that most others don't and they use that
information to solve problems for instance Elon Musk wasn't born with
knowledge on how to construct rockets first company SpaceX however through a
tremendous amount of textbook greeting he was able to piece together enough
knowledge to send his own rockets into space even Warren Buffett the Oracle of
Omaha himself used to read anywhere from six hundred to a thousand pages the day
after already hitting the millionaire status and today with a net worth of
almost 90 billion dollars he still spends 80% of his day reading and
strategizing therefore these two examples and many more proved that -
saying the more you learn the more you earn is certainly true have been number
three allocating time to think as famously
quoted by Henry Ford thinking is the hardest kind of work which is probably
the reason so few engage in it and while most people shy away from this type of
work by distracting themselves with social media music or news the rich get
down to business and ensure the allocate time every single day to think to think
about their career their house and their personal relationships studies have
shown that thinking and reflection of stress reducing effects on the body and
this is especially important when you are a high-strung individual trying to
decide on important business decisions while the average rich individual sets
aside 50 minutes a day for this hard work just two minutes of focus thinking
can help you relax and refocus you on your task at hand haben number four
surrounding themselves with good company you are the average of the five people
who spend the most time with and this is why the rich select their company very
wisely in a study of wealthy individuals 86% made conscious efforts to associate
with other successful people on the flip side 96% of those struggling financially
hang around other low income earners now this doesn't mean that the rich only
associate with people because of their economic status but when it comes to
making money it does help to gain support and advice from those who have
succeeded before you this is why if you aren't where you want to be financially
you need to evaluate each of your relationships and determine if they are
a rich relationship ie relationships that support your financial growth or a
poverty relationship which are relationships that are negative and
stunt your progress you will see that the more you spend time with those who
are striving for similar goals the closer you will be to achieving your
own habit number five protecting their morning's well I said that the rich wake
up early it's only beneficial if they put these early hours to good use and
one of the easiest ways to derail your morning is by checking your email well
this may seem like a productive activity the truth is that this is often a
gateway to an avalanche of problems and can distract you from tackling your
highest value activities when your energy is that the highest for the day
this is what Jeff Bezos known as a master at managing his time only starts
his daily meetings at 10 a.m. so he can focus the first few working hours of the
day on his most important tasks and if the strategy works for one of the
world's richest people then it certainly work for you so if you aren't
checking your email during this time what other activities should you be
doing so make a habit of meditating or writing in a journal reading something
educational or getting a head start on an important project and leader lower
value activities like checking email for later in the day haben number six
tracking their goals the rich know that making money doesn't just magically
happen unless you win the lottery becoming wealthy takes numerous
deliberate steps and options towards a final outcome and in order to continue
to progress you need to track your goals studies find the wealthy individuals
consistently set specific attainable goals these goals are realistic and had
a specific set of actions that would need to be carried out in order to be
met for instance instead of saying I would like to earn a million dollars
this year a more realistic and specific goal might be I will bring in an
additional twenty five thousand dollars this year by increasing my production
capacity assuming it's actually possible to increase production this is a goal
that can be realistically attained through careful planning and hard work
one very effective method for creating specific and attainable goals is by
using the SMART goal framework this method requires your goal to be specific
measurable achievable realistic and timely for instance using the SMART goal
framework your financial goal could be save $12,000 in my high interest savings
account in 12 months by setting up $1,000 monthly deductions with my
employer having a robust goal that satisfies all the elements of the SMART
goal framework is much more likely to have you succeed then creating vague
goals like save money or become rich habit number seven being frugal there's
a popular saying that you have to spend money to make money well this is mostly
true most non wealthy people don't take into account the fact that the more you
spend the less you have and spending more than you earn does not result in
wealth rich people avoid overspending just because they could throw down half
a million dollars for a brand-new car doesn't mean they do rich people
appreciate all the hard work that they've put into growing their wealth
and remain true to their money conscious ways for instance in 1999 with a net
worth of ten billion dollars Jeff Bezos bought a Honda Accord winning it afford
literally any car on the market when asked why he decided on such an
inexpensive car he said being frugal is important to him and
that he would rather put his money into things that will give his customers
value rather than satisfying himself with material goods and this mindset is
not only held by Bezos but numerous other rich individuals Warren Buffett
the investing magnate still lives in the house he bought in 1958 for thirty one
thousand five hundred dollars and claims it's his third best investment further
proving that just because you have money doesn't mean you need to spend it haben
number eight crafting their growth mindset there are two types of mindsets
a fixed mindset and a growth mindset and as you've probably guessed those who
become rich are much more likely to have the latter you see the rich are aware of
their strengths and weaknesses but instead of accepting their flaws they
focus on getting better and oftentimes this means learning new skills for
instance when I was first looking into doing freelancing work anyway great
business coaching skills to offer however I didn't really know how to
connect with clients and how much to charge so what did I do
i leveraged my growth mindset and signed up for a client management course on
Skillshare literally within a few days I acquired the skills I needed to start my
freelancing side hustle which is maybe thousands of dollars since I started a
few years ago and services like Skillshare let you try their platform
for free for two months so honestly I got the training I needed without ever
spending a dime so if you want to develop your own growth mindset check
out skill share which I have a link down below in the description and before you
know it you too will have a rich person mindset habit number nine knowing when
to relax when you picture the average millionaire you probably think of
someone who works 18 hours a day trying to maximize their daily output but in
reality the rich are some of the most conscientious people when it comes to
dialing back and recharging their batteries
what they realize is that you can overextend yourself once in a while but
consistent long hours almost always results in lower quality distraction and
disengagement moreover the rich realize that having a
large amount of money means nothing if it attracts from your ability to enjoy
other aspects of your life outside your work which is why the
average self-employed millionaire calls it a day at 6 p.m. so they can spend
time with their family enjoy their hobbies or just turn off their brain
until the following worked it habit number 10 eating healthy when it comes
to making money your body has to be as sharp as your
mind which is why on average the rich tend to be healthier eaters than the
poor this may be attributed to their access to healthier food options but
regardless the rich know that eating a healthy offers them a competitive
advantage for instance eating nutritious meals allows them to have more reliable
energy levels which can increase their daily work output resulting them earning
more money moreover when employing proper eating protocols they can
maintain an athletic physique which will foster their confidence and presence
which are key to business success in fact in a recent study 57% of rich
individuals went as far as tracking their daily calorie intake which when
compared to their less financially well-off counterparts resulted in a
meeting 300 fewer calories a day Hobbit number 11 exercising regularly in
combination with their healthy eating the rich prioritize exercised in their
daily routine for instance before Mark Zuckerberg starts his day he makes sure
to get a workout in and states that exercising gives him more energy to
tackle his day-to-day tasks moreover Richard Branson attributes a lot of his
business success to exercise saying that there will be no way he could do
everything he does without having taken a profound interest in a self well it
seems counterintuitive to spend time on activities that don't earn you money
when trying to grow your wealth the dividends that exercise yields are
certainly worth it and the science can back it up for instance when you
exercise more blood flows to your brain leading to the production of neurons and
an increase in your memory and thinking performance in the business world this
can mean the difference between remembering an important selling point
when trying to close a client or allowing you to think of an innovative
solution to a problem you've been struggling with therefore if some of the
world's richest people can devote time to exercise every single day then so can
you thanks for watching if you want to go from the life you have to the life
you deserve then hit the subscribe button now
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