Hey guys! Chronicle living here! So you managed to open the vault?
Well, congratulations! Now it's time to reveal to you five secret habits of the
rich. Let's get this started. Habit number one! Imagine yourself
surviving in a wild and your source of food is mainly by fishing every single
day from the exact same pond. But one day there's no more fish in that pond and
your source of food is now gone. Well this is just like how many live their
lives with just one source of income. When that source of income is affected
negatively, they suffer financially. And here you are you're panicking that your
source of food is now gone and turns out there's another guy not that far away
from you that's actually fishing from multiple lakes and rivers, catching a
multitude of fish every single day! The lesson here is that self-made
millionaires make a habit of not relying on only one source of income so that
habit is to develop multiple streams of income.
The reason is diversifying your sources of income allows you to get through a
lot of economic downturns that always occur in life. These types of incomes are
typically made passively, also known as passive income, which allows you to make
money without your presence and that could be done through many ways such as
ownership in a side business, real estate rentals, stock market investments,
royalties and the list goes on. If you're curious to know more about, that I have a
video that goes into more details about that, so you can check it out, right here.
Habit number 2. Think about this. You have two ears and two eyes and just one
mouth. That can mean that you're four times more receptive to listening than
just talking. So the second habit of the riches they
talk less and listen more.
It's said that a five to one ratio is about right so what that means is 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 others have to
say. Habit number 3. This ties closely with listening. They have mentors in life.
Among the wealthy, 93% had a mentor attributed to their success to that
person. Mentors can participate in your growth by teaching you what to do and
what not to do. So if you know your goals, find someone who has already achieved
them! You'll be amazed by how many people want to lend a helping hand. Habit number
four. Read every day. Reading information can really help you increase your
knowledge. "knowledge" about your business or career that can make you more
valuable to other people. Among wealthy people 88% read 30 minutes or more every
single day. Their number one reason is, is they read to improve themselves. This
really separates them from the competition by increasing their
knowledge, they're able to see more opportunities which translate into more
money. And lastly habit number five, they avoid wasting time. How much of your
valuable time do you lose parked in front of a screen?
Well two-thirds of wealthy people watch less than an hour of TV a day and almost
as many as 63% spend less than an hour on internet unless it's job-related.
Instead these successful people use their free time to engage in personal
development, networking, volunteering or pursue some goal that can leave them to
rewards down the road. And that is five secret habits of the rich! Thank you so
much for watching! Subscribe if you want to see more videos like this and also
don't forget to drop a like! Thanks once again and I'll see you guys later!