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Things Rich People Rarely Do

Mar 30, 2022

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Lifestyle

jennifer

Our habits tend to define who we are. If you make it a point to drive recklessly every day, nobody will be surprised when you eventually get into a traffic accident. This seems obvious to us. Yet the financial equivalent of this principle, tolerating bad monetary habits on a regular basis until you're driven into poverty, seems less obvious. For the most part, the richest people in the world didn't get to their position overnight. They didn't stumble into money, and it wasn't given to them as a gift. They accumulated it, and continue to maintain it, as a direct result of their daily habits and their underlying philosophies. These are seven things you'll never catch the world's richest people doing 

Slide 1Overview
Our habits tend to define who we are. If you make it a point to drive recklessly every
day, nobody will be surprised when you eventually get into a traffic accident. This
seems obvious to us. Yet the financial equivalent of this principle, tolerating bad
monetary habits on a regular basis until you're driven into poverty, seems less obvious.
For the most part, the richest people in the world didn't get to their position
overnight. They didn't stumble into money, and it wasn't given to them as a gift. They
accumulated it, and continue to maintain it, as a direct result of their daily habits and
their underlying philosophies.
These are seven things you'll never catch the world's richest people doing
Never stay
at the
same level
If you want to be rich, you cannot be content with the status quo. You need to keep
aiming high. Most of us didn’t get into business to peak and stay there.We got into
business to embrace the perpetual climb. You make a million. You want ten million.
You make ten million. You want a billion. It’s just in our entrepreneurial personality.
We’re always pushing for more.
Never act
stingy
Rich people should celebrate their successes, but they also spread the wealth. J.K.
Rowling, the first billionaire author, was happy to do just that. She gave $160 million
to charity (16 percent of her net wealth) in 2011 because she understood what it felt
like to live in poverty. Being stingy might save you a few bucks in the short run, but
certainly won’t help you feel good about your fortune long term.
Never go
without a
mentor
Yes, millionaires are the successful ones because they had a good idea or are cunning
business people. But rarely do all the achievements rely solely on one person. There’s
often a team or guide behind the wealthy individual that helped him get there. In
fact, 93 percent of rich people said a mentor had contributed to their success
Never focus
love
It can be a slippery slope from being ambitious to greedy. Focusing on the money
might help you become richer, but it doesn’t mean you’ll feel good about your
fortune. Why do you think almost 70 percent of lottery winners end up broke in
seven years? The key to true success is doing what you love.”How sad to see a father
with money and no joy.
Never hate
their job
There’s a reason rich people do what they love. It makes them richer! 86 percent of
people who liked their jobs had a net worth around $3.6 million. The 7 percent
who said they loved their jobs were worth almost double that and it only took them
12 years to accumulate that wealth versus 32 years.
Playing the
lottery
The lottery comes with a bold promise: a chance to win more money than you'd ever
know what to do with. But the odds of winning are astronomically low, and logically,
you have a far better chance of creating your own wealth than getting lucky and
winning someone else's. The world's wealthiest people had no interest in taking
chances; instead, they chose to forge their own paths, and as a result, they worked
harder, and saw more tangible results.
Hoping for
better
outcomes
There's nothing inherently wrong with hope; it's a positive emotion that leads us to
more optimistic lives. But for the world's richest people, hope isn't nearly enough.
Hope doesn't solve problems. It doesn't create opportunities. It doesn't change
anything. If you want to move past a certain chapter of your life, or achieve a certain
outcome, you have to move beyond hoping and start taking action.
Abandoning
their goals
Goals are crucial for success; they keep you focused, they help you prioritize, and
they lead you to bigger, better things. By some estimates, 80 percent of the world's
richest people make and follow goals regularly. Compare that to only 12 percent of
the poor. But it isn't enough to merely create goals--it's the process of sticking with
them, no matter what, that separates the strong-willed from the weak-willed.
Never watch
too much TV
Money isn’t going to come pouring in if you just binge-watch Netflix shows. That’s
why 67 percent of wealthy individuals say they watch less than an hour a day. Instead
of wasting time on the couch, they are learning as much as possible about an area of
interest and becoming experts.
list
Getting distracted is a surefire way to not get the money you want in the bank. You
have to stay task-oriented if you want to be rich, which is why wealthy people always
make a to-do list and stick to it. It helps to keep them on track and get the most value
out of every minute of their day.
Never resist
setting goals
Wealthy people might have their to-do lists to help keep them on track, but they also
have long-term objectives to stay motivated. According to success.com, 70 percent
percent of wealthy people follow at least one major goal a year. Without the big
vision, everything would fall apart, and that equals less cash coming in.
Never let
fear take
over
Any motivational speaker will say that fear is the enemy to us all. It prevents us from
living our best and happiest life. It also stops you from getting rich. The thing that
wealth buys you.
with the flow
You might be jealous of those Instagram-famous travel bloggers who seem to simply
follow their intuition. But that attitude won’t make you rich.To become a high net-
worth individual, it’s all about forming productive habits. The author has been
known to hang out with society’s wealthiest, so he knows what he’s talking about.
Never eat
junk food
You are what you eat, right? So, if you eat food that makes you feel lethargic and
slows your digestive system, you won’t have the energy or brain power to come up
with million-dollar ideas.
Never skip the
gym
Yes, exercise has been proven to boost brain function, but working out can also help
you get rich—and it’s scientifically proven. Being physically active positively
influenced 15-year income, with physically active males making 14 to 17 percent
more than less active males.
Never forget
about
creativity
Many rich people are inherently big thinkers, but they also work at it. Both Bill
Gates and Richard Branson are known to block out times of their days to create and
focus on self-improvement. Creativity isn’t always natural. You have to set time
aside to come up with those big (money-making) ideas.
Never
neglect
reading
If you don’t keep up with the latest reading, you won’t have as good of an
understanding of the world. It’s this knowledge that sparks ideas and solutions that
could equal big bucks for you. Why else do you think the average millionaire reads
one nonfiction book per month.
Never sleep
in
Rarely have good ideas come from a moment when you’ve stayed out until 3 a.m.
(That’s usually when bad decisions are made.) Rather, it seems like the mornings,
before anyone can bother you, are the most productive.What the wealthy do by
getting up three hours before work. You can read, exercise, focus, and write down
your goals all leading to a more successful day.
Never isolate
themselves
It’s hard to make things happen (and make money) if you’re going at it entirely alone.
Wealthy, successful people are very particular about who they associate with.Their
goal is to develop relationships with other success-minded individuals. When they
stumble onto someone who fits the bill, they then devote an enormous amount of
their time and energy into building a strong relationship.
Never spend
money they
don’t have
It might be tempting to go out and buy top-of-line everything when you have the cash
sitting in the bank. But it’s better only to purchase what you need rather than what
you can afford. Living frugally and watching cash flow is just as important when
you’re making an average income as it is when you’re rolling in the big bucks. Spend
less money than you make.
Living above
their means
When most people fall into debt or find themselves unable to pay the bills, it comes
down to one critical mistake; living a lifestyle that requires a greater income than
you're actually receiving. Imagine for a moment you make $2,500 a month, and you
pay $1,500 in rent and about $950 in other regular expenses. That only leaves you $50
leftover--if rent goes up or you have an emergency, you'll immediately start
accumulating debt, which becomes more and more difficult to pay off.
Letting their
money sit idle
Last but not least, you'll never catch one of the world's wealthiest people keeping
money in an idle bank account. You need to make your money work for you by
investing it in something--it could be stocks, bonds, mutual funds, real estate, or
anything with a proven track record of success. Investing lets your money earn you
passive income, which if reinvested creates a powerful system of compounding
interest.
Eliminate these bad habits and reckless decisions from your daily life, and eventually,
you'll find yourself in a much better financial position. Again, there are no shortcuts,
so understanding these concepts won't help you get rich overnight, but they will
help you set a long-term course for a much brighter future.
Welcome message from author
Eliminate these bad habits and reckless decisions from your daily life, and eventually, you'll find yourself in a much better financial position. Again, there are no shortcuts, so understanding these concepts won't help you get rich overnight, but they will help you set a long-term course for a much brighter future.