10 Secret Habits Of Millionaires You Didnt Know
Reading about millionaires gives you a lot of inspiration, knowing about how their lives have been so successful. According to the book, “Habits of Successful Bastards” there are a number of hidden habits and ideas, which each millionaire in the world follows to move on ahead.
These habits help them to move their wealth and status from millionaire to billionaires.
We try and decode some of the top ten Secret Habits of Millionaires that are not only fresh, but also innovative and inspiring:
1. Street Smart Money Making
If you become a millionaire it does not mean that the goal is achieved. Always look forward to earn more. The millionaires contemplate moving a step ahead by using some street smart options. They keep trying different opportunities and ideas to generate money.
Invest in what you think will yield returns in the end. The best example quoted can be that of real estate giant Barbara Corcoran, who generated $1,000 in for $66,000,000 without scoring any A’s or B’s in school.
2. Enjoy Your Money
Millionaires enjoy their money, and they are not frugal all the time. A research shows that most of the millionaires around the globe enjoy their money, with one set of the millionaires investing in personal assets and holidays, whereas others into social upliftment. A golden rule which most of the millionaires around the world follow is to save 50 and spend the rest 50.
3. Plan Your Retirement
Millionaires believe in planning their retirement before anything else. Most millionaires believe in following the practice of loan for education rather spending everything that you have saved for the retirement. Save for all your important needs once you grow old rest can be dealt with the help of loans.
4. Take Calculated Risks
Fond of taking risks, rich people always keep different things in one basket. The idea is to have variety and then take calculative risks, deciding which one to invest more in and which one to cut down on.
5. Shift Focus From Spending to Investing
A millionaire always understands the need of multiple investments. Sow as you reap is the basic idea, if you have received any gains from your investment; most of the millionaires plough it back into a different set of businesses.
6. Multiple Flow of Income
For example, the great Ambani Empire of India is diversified into different sets of business from clothing, jewellery to retail and petroleum, making multiple sources of income for the family. Creating multiple businesses helps to generate different sources of money.
7. Goal Setting
Rich people do not get rich in a day. The power of setting realistic goals makes it happen. Persistent and deliberate are two qualities that come inherent with the rich people. The idea of setting realistic goals helps you to visualize where you are heading.
8. Creating Assets
Most of us believe that buying a yatch, luxurious mansion or an estate is just lavish spending. However, the millionaires take it as a secure investment in the long run, which on the contrary also acts as a status symbol.
9. Plan the Time Ahead
Unlike normal people, the rich and affluent plan their time ahead. They never waste time on unproductive activities which do not yield them any money.
The idea is to utilize each hour in the day to efforts, which could lead to generation of money or utility. You can rarely find millionaires sitting on the couch watching the television.
10. Socialize with the Same Class
Socializing with the same set of people is another secret habit of millionaires. This not only helps in building contacts, but also helps in improving company’s face value, thus helping them improve their current stature.
At the end, you will be surprised to know that most of the rich people wish others to be rich and affluent, so that they can make use of the products and services that they offer. Hence most of the millionaires take up a philanthropic route to help the society they live in.
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