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  • 01:00

    Hey guys! Chronicle living here! So you managed to open the vault?
    Hey guys! Chronicle living here! So you managed to open the vault?

  • 01:05

    Well, congratulations! Now it's time to reveal to you five secret habits of the
    Well, congratulations! Now it's time to reveal to you five secret habits of the

  • 01:10

    rich. Let's get this started. Habit number one! Imagine yourself
    rich. Let's get this started. Habit number one! Imagine yourself

  • 01:13

    surviving in a wild and your source of food is mainly by fishing every single
    surviving in a wild and your source of food is mainly by fishing every single

  • 01:18

    day from the exact same pond. But one day there's no more fish in that pond and
    day from the exact same pond. But one day there's no more fish in that pond and

  • 01:23

    your source of food is now gone. Well this is just like how many live their
    your source of food is now gone. Well this is just like how many live their

  • 01:28

    lives with just one source of income. When that source of income is affected
    lives with just one source of income. When that source of income is affected

  • 01:32

    negatively, they suffer financially. And here you are you're panicking that your
    negatively, they suffer financially. And here you are you're panicking that your

  • 01:37

    source of food is now gone and turns out there's another guy not that far away
    source of food is now gone and turns out there's another guy not that far away

  • 01:41

    from you that's actually fishing from multiple lakes and rivers, catching a
    from you that's actually fishing from multiple lakes and rivers, catching a

  • 01:44

    multitude of fish every single day! The lesson here is that self-made
    multitude of fish every single day! The lesson here is that self-made

  • 01:49

    millionaires make a habit of not relying on only one source of income so that
    millionaires make a habit of not relying on only one source of income so that

  • 01:54

    habit is to develop multiple streams of income.
    habit is to develop multiple streams of income.

  • 01:57

    The reason is diversifying your sources of income allows you to get through a
    The reason is diversifying your sources of income allows you to get through a

  • 02:01

    lot of economic downturns that always occur in life. These types of incomes are
    lot of economic downturns that always occur in life. These types of incomes are

  • 02:06

    typically made passively, also known as passive income, which allows you to make
    typically made passively, also known as passive income, which allows you to make

  • 02:11

    money without your presence and that could be done through many ways such as
    money without your presence and that could be done through many ways such as

  • 02:14

    ownership in a side business, real estate rentals, stock market investments,
    ownership in a side business, real estate rentals, stock market investments,

  • 02:19

    royalties and the list goes on. If you're curious to know more about, that I have a
    royalties and the list goes on. If you're curious to know more about, that I have a

  • 02:23

    video that goes into more details about that, so you can check it out, right here.
    video that goes into more details about that, so you can check it out, right here.

  • 02:28

    Habit number 2. Think about this. You have two ears and two eyes and just one
    Habit number 2. Think about this. You have two ears and two eyes and just one

  • 02:32

    mouth. That can mean that you're four times more receptive to listening than
    mouth. That can mean that you're four times more receptive to listening than

  • 02:36

    just talking. So the second habit of the riches they
    just talking. So the second habit of the riches they

  • 02:40

    talk less and listen more.
    talk less and listen more.

  • 02:45

    It's said that a five to one ratio is about right so what that means is you
    It's said that a five to one ratio is about right so what that means is you

  • 02:49

    should listen to others five minutes for every one minute that you speak. Wealthy
    should listen to others five minutes for every one minute that you speak. Wealthy

  • 02:53

    people are good communicators because they are good listeners. They understand
    people are good communicators because they are good listeners. They understand

  • 02:58

    that you can learn and educate yourself only by listening to what others have to
    that you can learn and educate yourself only by listening to what others have to

  • 03:02

    say. Habit number 3. This ties closely with listening. They have mentors in life.
    say. Habit number 3. This ties closely with listening. They have mentors in life.

  • 03:08

    Among the wealthy, 93% had a mentor attributed to their success to that
    Among the wealthy, 93% had a mentor attributed to their success to that

  • 03:14

    person. Mentors can participate in your growth by teaching you what to do and
    person. Mentors can participate in your growth by teaching you what to do and

  • 03:19

    what not to do. So if you know your goals, find someone who has already achieved
    what not to do. So if you know your goals, find someone who has already achieved

  • 03:23

    them! You'll be amazed by how many people want to lend a helping hand. Habit number
    them! You'll be amazed by how many people want to lend a helping hand. Habit number

  • 03:28

    four. Read every day. Reading information can really help you increase your
    four. Read every day. Reading information can really help you increase your

  • 03:34

    knowledge. "knowledge" about your business or career that can make you more
    knowledge. "knowledge" about your business or career that can make you more

  • 03:39

    valuable to other people. Among wealthy people 88% read 30 minutes or more every
    valuable to other people. Among wealthy people 88% read 30 minutes or more every

  • 03:45

    single day. Their number one reason is, is they read to improve themselves. This
    single day. Their number one reason is, is they read to improve themselves. This

  • 03:50

    really separates them from the competition by increasing their
    really separates them from the competition by increasing their

  • 03:54

    knowledge, they're able to see more opportunities which translate into more
    knowledge, they're able to see more opportunities which translate into more

  • 03:58

    money. And lastly habit number five, they avoid wasting time. How much of your
    money. And lastly habit number five, they avoid wasting time. How much of your

  • 04:03

    valuable time do you lose parked in front of a screen?
    valuable time do you lose parked in front of a screen?

  • 04:07

    Well two-thirds of wealthy people watch less than an hour of TV a day and almost
    Well two-thirds of wealthy people watch less than an hour of TV a day and almost

  • 04:12

    as many as 63% spend less than an hour on internet unless it's job-related.
    as many as 63% spend less than an hour on internet unless it's job-related.

  • 04:18

    Instead these successful people use their free time to engage in personal
    Instead these successful people use their free time to engage in personal

  • 04:22

    development, networking, volunteering or pursue some goal that can leave them to
    development, networking, volunteering or pursue some goal that can leave them to

  • 04:27

    rewards down the road. And that is five secret habits of the rich! Thank you so
    rewards down the road. And that is five secret habits of the rich! Thank you so

  • 04:32

    much for watching! Subscribe if you want to see more videos like this and also
    much for watching! Subscribe if you want to see more videos like this and also

  • 04:36

    don't forget to drop a like! Thanks once again and I'll see you guys later!
    don't forget to drop a like! Thanks once again and I'll see you guys later!

All noun
chronicle
/ˈkränək(ə)l/

word

factual written account of important or historical events in order of their occurrence

5 Secret Habits of the Rich

18,429 views

Intro:

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.

Video Vocabulary

/rəˈlī/

verb

Depend on with full trust or confidence..

/ˈpasiv/

adjective noun

accepting what happens without active response. passive verb.

/əˈnəT͟Hər/

adjective determiner pronoun

One more, but not this. used to refer to additional person or thing of same type as one. One more (thing).

/rəˈseptiv/

adjective

Being open to hearing and considering new ideas.

/ˌmilyəˈner/

noun other

person whose assets are worth one million pounds or dollars. Person with 1,000,000 dollars, euros etc. or more.

/ˈmanij/

verb

To survive hardships and difficulties; to cope.

/ˈak(t)SH(o͞o)əlē/

adverb

as truth or facts.

/iˈmajən/

verb

To think creatively about; form mental picture of.

/ˈinˌkəm/

noun other

money received for work or through investments. Earned monies from work, investments or business.

/ˈfiSHiNG/

noun verb

The act of catching fish. To go fishing with a net or hook.

/ˈpanik/

verb

To feel sudden anxiety, fear so you cannot think.

/ˈlis(ə)n/

verb

To use your ears to hear and understand things.

/wəˈT͟Hout/

adverb conjunction preposition

outside. without it being case that. Not with; not having.

/ˌekəˈnämik/

adjective

Concerning trade, industry, and money.

/ˈtipik(ə)lē/

adverb

in most cases.