13 Jul 7 Habits That Lead To Wealth
Everybody wants to be wealthy and successful — however, not many actually make it a reality. The difference between successful people and the rest of the pack is that they don’t leave their achievements up to chance. Instead of waiting for success or wealth to fall in their lap, they take actionable steps every single day to inch closer to the finish line. Becoming a billionaire might seem like an impossible pipe dream, but the amount of self-made ones increases every year. Of course, it’s no cakewalk, but it is something possible and within your grasp. To start, check out these 7 habits from self-made billionaires that lead to wealth and that you can adopt today.
1) They’re practical.
If you take a look at self-made billionaires, you’ll notice they aren’t constantly pursuing fancy handbags or shiny sports cars. Take Mark Zuckerberg, for instance, who has over 50 billion dollars and drives a Volkswagen Getta.
Really successful people know that true luxury is being able to pursue their dreams, instead of being shackled to their spending. So they make a daily effort to grow their wealth and use it on future endeavors, instead of blowing it on the latest “must-have” purchase.
2) They’re lifelong learners.
Self-made billionaires take time to study the trends, concepts, and financial news each day to become an expert in their field and stay up to date on what’s current. For example, Warren Buffett reportedly spends up to 80 percent of his day reading, and said his knowledge stacks up “like compound interest.” Take a page out of this mega mogul’s book and commit to learning something new about your field or industry every day.
3) They exercise.
No! It isn’t a New Years’ Resolution anymore. Entrepreneurs like Richard Branson tout the value of regular exercise — he famously notes that regular physical activity can give you back four extra hours of productivity each day. It can also boost your mood and prevent diseases like stroke, metabolic syndrome, type 2 diabetes, and depression.
If you haven’t already, add about 30 minutes of exercise into your daily routine to get the blood flowing and improve your mental clarity so you can be at your best.
4) They meditate.
We talk about our physical health all the time, but mental health is just as (if not more) important for the self-made billionaire. Lately, people have become more aware of the benefits that sitting and clearing your mind can bring, including improving memory and dealing with stress. Billionaires are no different — in fact, Twitter CEO Jack Dorsey wakes up at 5 a.m. each day to meditate.
If you’ve never meditated before, try just taking a few deep, calming breaths in the morning to help set the stage for your day. You can reap the benefits of mindfulness meditation in just five minutes daily.
5) They start early.
This tip goes for your finances as well as your career success. Financially, start saving your money and investing early. Self-made billionaires realize the enormous value of compound interest, and that a small amount invested now can become a fortune later.
Many young CEOs were able to capitalize on their strengths early in life and use them to catapult to success. In my case, I am an early bird, so I’m awake at 5 am, while my partner and children are still sleeping. During that “me” time, I meditate, journal, and watch the sunrise.
You don’t have to be young to achieve success, but you should adopt the attitude that it’s never too early to start thinking about your future. Don’t be afraid to take a leap in your career, even if you think you’re too inexperienced. If you keep waiting for the perfect timing to take an opportunity, it may never come.
6) They do things differently.
Many people spend most of their lives climbing the corporate ladder, trying to get ahead of the next person. In reality, the most successful women have found a way to go against the tide of what everyone else is doing. Sara Blakely, the youngest self-made billionaire woman in the world, made shapewear that went against the things other companies were doing. Similarly, Arianna Huffington created a whole new type of media platform, which critics said was “un-survivable.”
If you find yourself in the rat race, it may be time to get out and think about what you can do that will truly revolutionize what’s always been done. This doesn’t have to entail inventing the next iPhone either; something as simple as rethinking your tasks at work can bring along massive innovations.
7) They never take “no” for an answer.
“The only people who don’t tumble are those who never mount the high wire,” said Oprah Winfrey.
One thing all billionaires and big thinkers have in common is that they were told “no” at some point in their lives. The trick is to keep swimming against the tide. Realize that “no” is just someone’s opinion, nothing more. The difference with these success stories is that they pushed forward past these bad experiences and rejections, and even used them as a springboard for success. They realize that no rejection is set in stone — it’s just one person’s (often flawed) viewpoint.
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If you find this blog helpful, please feel free to leave a comment or reach out to me via Twitter. Should you need help in the aspect of financial growth, please visit my company’s website, LexION Capital.
Elle Kaplan is the founder and CEO of LexION Capital, a fiduciary wealth management firm in New York City serving everyone who feels left out by traditional “Wall Street”, including women and the families they love.