If you invested 10K in Netflix back in 2002 when it went public?
How much do you think your investment would worth by today?
4,329,600 dollars because the stock price surged by %43196 since then, which is mind-blowing.
Don't feel bad about yourself since you missed this opportunity because there will always
be another Netflix, another amazon.
The world is constantly evolving, and new companies are coming with innovative ways
to make our lives better.
People who take advantage of such opportunities or, in general, are financially successful
have a certain lifestyle, certain habits that make them high-income earners.
Hence in this video, we are going to explore five them.
Of course, YouTube is filled with such videos; that's why we will take a look at it from
a different angle and explore the ones that are uncommon.
So listen carefully!
Focus on getting more Skills Because they are more important than knowledge.
I love reading books and learning new stuff.
That's all great, but what people often neglect is that, despite the importance of knowledge,
skills are far more critical because they can be turned into a revenue source.
Think about how much knowledge you have gained throughout your life, from books, YouTube
videos, documentaries.
Probably a lot.
And now ask yourself how much of that knowledge do you really use to improve your life or
earn more money.
Probably a tiny fraction, because most of them aren't practical.
That's one of the problems people encounter after graduating.
Back in college, they were fed with tons of knowledge, but once you get a job, you realize
that you don't need most of that knowledge, and you just have to master a set of skills
that you have to repeat every day.
I am not saying that you shouldn't read books but focus on acquiring skills that would either
increase your productivity or provide you with a source of income.
There are a lot of things to learn about the stock market, for example, but if you master
the skill of analyzing financial statements.
You can take a look at any company and figure out if it's undervalued or overvalued to a
certain extent and this simple skill would probably earn you much more.
Let's say you want to learn to make animated videos such as this video because you want
to start a YouTube channel.
You have to learn adobe after effects, illustrator, and photoshop.
It is a highly complex skill.
But this course on Skillshare will teach the basics and some advanced tips so that you
can get started.
Its taught by Kurzgazet, the channel that makes the best animation on the entire YouTube.
Imagine learning from the best.
Over 21 thousand people have taken this course and you should too!
If you are not into design, Skillshare offers thousands of inspiring classes for creative
and curious people on topics including photography, video, freelancing, investing, and more.
Skillshare is an online learning community for creatives, where millions come together
to take the next step in their creative journey.
And all that is for less than dollars a month with an annual subscription.
And here is a special offer for you!
You can access the course for free.
The first 1000 of you to click the link in the description will get a 2 month free trial
of Premium Membership.
Go ahead and master whatever skill you want.
By the way, you will be supporting the channel by signing out to Skillshare.
And now, let's get back to the video.
However, one habit is not enough.
Usually, people with high incomes have a number of habits that guide their lives to keep increasing
their income.
So the next habit which I had made part of my life since when I was a teenager is:
2.
Start doing stuff without figuring everything out
When I got into real estate for the first, I literally knew nothing about the market.
I was a teenager and was trying to figure out what on earth am I trying to accomplish.
But I had a friend who was quite elder than me and was a real agent, after asking him
for a few tips, I got into it without knowing much.
To be honest, I made so many horrible mistakes that at that time, I thought that's the end
of my life.
I am not gonna hide this, I got into a lot of debt, but thankfully I managed it.
I am not saying you should get into debt, throw all of your savings into risky investments,
or quit your job, and do random things.
But you have to keep in mind that you are never going to be 100 percent ready for anything,
there will always be things you won't know.
And the best way to learn is just to start and figure everything on the way.
You have a business idea in your mind, spend a couple of hours a day building it.
If you realize that it works, then quit your job or drop out!
If it doesn't, brilliant!
Now you know that you don't have to wait for years to start something that doesn't work.
Don't be trapped in to a mindset where you keep postponing everything because of a lack
of knowledge.
Regardless of what you decide to do.
Every financially successful person follows a certain type of routine that works the best
for them.
3.
Routine - consistency
Internet might lead you to believe that people who make a ton of money are lying on beaches
with a laptop and work an hour a day and spend the rest of their time enjoying life greatest
pleasures.
But that's not true even when it comes to people who can afford that and don't have
to work another day in their lives.
If you ask anyone who runs a business, manages a huge portfolio, does anything that brings
a lot of money about how they spend their days, they would almost always tell you that
they have a fixed routine that they religiously follow no mater what happens.
Because that's the only way to be hyper productive.
You want to keep doing something every single day until you get better than everyone and
that effort pays back enormously.
The moment you slip out or interrupt that routine, things might get messy, and you no
longer be making that kind of money.
And the problem with money is that its not a one time game, it's very rare when someone
makes so much money that they don't have to work another day for the rest of their lives.
Usually, as you make more money, your spending goes higher, and you realize that you need
to keep your routine.
It doesn't mean you have to wake up at 4 am every morning, you have to find what works
for you.
I personally wake up around 7 in the morning and I have a routine that I have been following
for 10 years already.
The next habit is
4.
Patience
And it is underrated.
Every high income earner knows that you can't make money overnight.
Even if you have a huge capital, the perfect team and a brilliant idea, it is still going
to take you time to turn that brilliant idea into a profitable business.
So if you are not patience enough, you will be jumping from one venture to another.
Take the stock market where we talk a lot about here on the channel.
It often takes years if not decades to payback enormously and part of it because of compound
interest.
Not being patient also results in a loss of money.
There might be a cool asset, stock or an investment that have been grabbing the headlines recently.
Since everyone has jumped in to invest, you start feeling like you are missing out and
you invest at the top where the market crashes and you end up losing a fortune.
I am not hinting at any particular stock, it happens all the time, with every crises
and you have a lot of people losing most of their lives savings because they got excited
about a particular investment.
And lastly, there is one particular habit that might seem a bit rude but every successful
person I know or heard about has it.
Its just a fundamental part of anyones success.
5.
Getting rid of unnecessarily responsibilities
Its the ability to say NO.
Don't be rude, sometimes you gotta do stuff you don't get paid directly but will help
you in the long run.
But overall people you always in one or another waste your time, by asking you to help them,
spend some time with them, go out with them.
And there is nothing wrong with that but Remember your time is the most valuable thing
you have.
littraly, there is nothing that should be more valuable to you than your time.
So if you want to raise your income, you have to spend more time on doing that, which means
you often have to say No to people.
If people come randomly ask you for money, would you give them?
Probably not!
Then why give them time if you can't afford it?
Here you go, these are the 5 fundamental habits of financially successful people.
If you are a high income earner, you probably have incorporated most of them into your life
and if you are not, then maybe you should start building these habits one by one and
slowly I hope you are going to achieve your financial goals.
Anyways, if you have enjoyed this video, make sure to give this video thumbs up.
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Thanks for watching and until next time.