20 Habits of Wealthy People
Can you become wealthy? Absolutely. I truly believe that anyone can become wealthy.
Do you have to be wealthy to be happy? Of course not. Wealth does not guarantee happiness, but as I’ve said before, neither does poverty. Wealth simply gives you some options that you don’t have without it.
Should you strive to be wealthy? That is 100% up to you. You don't have to, and if you don't, I will never be one to criticize that choice. I understand that wealth comes in a lot of different forms. Being wealthy with money is just one of the many ways to obtain wealth. And I'm not mad at you if that is not something you care to pursue.
I do believe that it's important to strive for some form of wealth in your life. Striving for some sort of improvement is good and healthy. Whether that is wealth in relationships, wealth in your spiritual walk, or wealth in helping and caring for others.
This blog post is focused on 20 behaviors of those with monetary wealth that I've observed over the years. There are no shortcuts. You've got to change the way you think, figure out what you are good at, and pursue becoming valuable to others.
"Wealth with money does not guarantee happiness, but neither does poverty."
The list below is not some magical formula. You don’t have to do all 20, but the more you do, the more you will find the opportunities for monetary wealth coming your way.
1. Wealthy people are comfortable taking calculated risks. It’s not necessary to blindly just jump off the cliff with both feet, but you have to walk to the edge, study what’s there, and then take a small leap every now and then.
2. Wealthy people focus on their strengths, not their weaknesses. Figure out what you are good at and take your strengths to the next level. Wealthy people don’t spend time and energy trying to be better at what they’re horrible at. Instead they re-direct that energy to be the best at what they already have a naturally good aptitude at.
3. Wealthy people choose classic steady investments like real estate, broad range of blue chip stocks, index funds, and mutual funds. You will rarely find a wealthy person speculating in bit coin and day trading, or gambling at the casino.
4. Wealthy people engage in serious time management strategies. Wealthy people are fanatical about their time. They understand that time is a bigger treasure than money. They create to-do list, are organized, and don’t waste a lot of time on things that don’t matter.
5. Wealthy people tend to be secure enough to surround themselves with people that are smarter than them, or have more knowledge in key areas. They understand that success is a team sport. They strategically connect with the right people.
6. Wealthy people look for and seek out opportunities. Where others see problems, wealthy people are able to see opportunities. They are looking at the world from a different set of eyes than most people. When most people see clouds, wealthy people see silver linings.
7. Wealthy people are not afraid to go against the grain. They don’t follow the herd and are unmoved by the crowd. Wealthy people march to the beat of a different drummer and don’t care what other people think about it. They see what most people are doing and they do the opposite. Fads are not in the vocabulary of rich people.
8. Wealthy people, often times, have multiple streams of income. They leverage their knowledge, their skills, their thinking, and their interests to create opportunities to make money in various ways through various opportunities. They understand that shortcomings of simply trading time for money.
9. Wealthy people are prone to be self-employed or business owners. Most wealthy people are not entertainers or movie stars. Most are hardworking people that found their passion, got good at it, started a business, and stayed steady and consistent. They built the business through integrity and hard work and persistence.
10. Wealthy people tend to be persistence. Wealthy people don't give up easily, but they know when to walk away. Wealthy people can be downright irritable in their fanatic persistence. They understand that NO simply means “sometime later”. Creativity and being able to attack problems from multiple angles is what has enabled them to achieve their wealth. If you give up the first time someone says “no” then you're going to have a hard time becoming wealthy. A lot of wealth has been built after the first no.
"A lot of wealth has been built after the first no".
11. Wealthy people understand the value of taking personal responsibility. Ownership is important, and there is nothing more important than owning yourself and your actions. Wealthy people realize that there is a tremendous amount of power in owning their actions and holding themselves accountable.
12. Wealty people budget their money. Getting organized and disciplined with money is key to the success of becoming wealthy and accumulating capital and resources. Properly managing the little things leads to the ability to manage the big things.
13. Wealthy people live below their means. They aren’t swayed and moved by the latest fashions, the big fancy cars, and the $100 pair of jeans with the studded pockets. They don’t care about the Jones’s. They tend to be comfortable and content with their own pattern of living.
14. Wealthy people plan ahead, they visualize their future, and the set goals. They are aiming at something, and that keeps them focused and disciplined. Wealthy people don’t just “wing it”.
15. Weathy people read, train, and take self improvement very serious. Wealthy people have a real thirst for knowledge. They do their homework, they research, and they seek feedback and new information constantly. They are always on the lookout for ways to develop themselves. Reading a good non-fiction book a month is a great start.
16. Wealthy people realize that none of this matters if they aren’t taking good care of themselves by eating well and exercising. Taking care of their body is a priority.
17. Wealthy people understand the importance and value of volunteering their time, so they aren’t afraid to give away their time and talent and energy to worthy causes. They coach, they mentor, and they find and respond to ways that allow them to give their expertise.
18. Wealthy people tend to keep a good attitude. They understand that thoughts become actions and that a positive mental outlook can cure a lot of woes. More times than not, wealthy people believe in a creator greater than themselves and they understand the humility and strength that comes from a spiritual relationship with their creator!
"Wealthy people understand that thoughts become actions."