Contrary to popular belief. The majority of rich people don’t inherit their money. Neither by accident. Nor sheer luck. The majority make it themselves. Accumulating it themselves requires dedication. Hard work. And certain habits.
It’s not new to say that rich people. Have a different mindset to poor people. Rich people have different habits. Some you should have too. So what are the habits?
Rich people habits
1. Early birds
The average Fortune 500 CEO. Gets up at 4:30. Millionaires can’t sleep in. They had too much to do. Thomas Corley spent 5 years studying millionaires. He found that 44% of them. Wake up 3 hours before work. They spend this time doing many things. Including: exercise, brainstorming, and other vital tasks. This is compared to 3% of poor people.
2. Write down goals
Whether for life, relationships or something else. Rich people have their goals written down. This allows them to refer back to it. So they never forget it. The goals are never vague. Never like “Become rich”. More like “Invest $5000 per month”. Or earn X amount by Y time. The wealthy are dedicated to their goals. 67% of rich people put their goals into writing. Compared to 6% of poor people.
3. Daily To-Do list
Whether in the 3 extra hours or the night before. Rich people write down a to do list. To be completed. Without failure. Failure won’t be tolerated. 81% of rich people create them. Compared to only 19% of poor people. Corley found that 67% of millionaires completed 70% of the tasks. Everyday.
4. Be frugal
We’ve seen this time and time again. Whether with Jeff Besos or Warren Buffett. Down to Earl Crawley and Ronald Read. The rich are cheap. And you should too. The rich are cheap so they can invest as much as possible. Most poor people don’t take it into account. The more you spend, the less you have. And spending more doesn’t equal wealth.
Rich people don’t throw their money around. Just because they can spend half a million. Doesn’t mean they have to. Something poor people don’t understand. Rich people spend their time negotiating. Whether it’s bills, insurance or whatever.
5. Educate themselves
Rich people never stop learning. Not for pleasure. But for necessity. Wealthy people tend to believe in the importance of self-improvement. 86% of wealthy people love reading. Compared to 26% of poor people. 88% of rich people spend at least 30 minutes per day reading. With some going as far to read for an hour. Sometimes more!
6. No television
Many poor people come home. Sit down. Put the TV on. And do nothing. Rich people don’t have that luxury. They choose more productive ways to spend their time. 67% of rich people watch less than one hour of TV per day. Compared to 23% of poor people. Reality TV is also a no. Only 6% of rich people watch Reality TV. Compared to 78% of poor people.
7. Gambling is a no
77% of poor people regularly play the lottery. Which is why it’s often referred to as “the poor person’s tax”. Compared to only 6% of rich people. Wealthy people don’t believe in luck. They believe in hard work. Equals money. And gambling is the best way to lose their money. Which is a no for wealthy people.
8. No retirement
The rich don’t retire. They die doing best they love. Whilst the rich have vast savings. And a large investment portfolio. They have no intention of retiring. Or not as early as others. The average age of retirement for poor people is 61. Compared to 70 for rich people.
They don’t do this because they have to. But because they want to. The longer they work. The more they make. The more they’re worth. The majority choose to retire. Because they hate what they do. Wealthy people don’t retire. Because they love what they do.
9. Take long lunches
Time is money, right? Wrong! Most rich people take an hour or more for lunch. The rich also understand how to work smarter. Not harder. Taking breaks is important for that. A long, relaxing lunch break allows you to refresh yourself. When you return. You’ll be more productive.
And thus, by being more productive, you will earn more money, which will make you and your shareholders a lot happier!
10. Healthy living
The rich tend to eat right. But also exercise. The rich know what to eat. They aren’t driving up to McDonalds. Ordering a Big Mac. And eating it in the parking lot. Instead, they’re eating a salad. Or a chicken salad.
The rich also exercise regularly. 76% of rich people exercise at least 4 days per week. Compared to only 23% of poor people. They do this because they know something. A healthy body. Equals a healthy mind. Which allows them to to maximise their earnings.
How many of these rich people habits do you do? Which ones will you try to implement? Tell me in the comments!
