Life lessons to learn from a Millionaire
Choose your partner carefully
86% of the millionaires are married, while 65% of them are in their first marriage.
Marry someone, who -
Cares about money
Have financial knowledge
Is supportive every time.
Marry someone who has a money-winning mindset.
Read Daily
90% of the millionaires read daily.
Read books, blogs, articles, journals or anything which excites you.
Reading gives you advice on -
- Personal development
- Entrepreneurship
- Investments
- Business
- Family
- Life
Read to become successful.
Diversify your Income streams
Millionaires have diversified portfolios in 7 different streams.
Their Income streams could be :
- Royalties
- Primary job
- Capital gains
- Rental income
- Interest and dividends
Embrace Failures
The more you fail, the more you’ll learn how to succeed.
Failure acknowledges our mistakes and we should learn from these mistakes.
Failure:
- Builds resilience
- Provides answers
- Sparks opportunity
- Accelerates growth
- Makes you stronger
- Redirects your goals
Surround yourself with positive-sum people
Surrounding yourself with highly-optimistic people is the most underrated hack in the world.
It gives you the edge to move ahead in life, to meet new people.
Soon, you'll realize that:
- You think the same thoughts
- You have the same goals
- You offer similar advice
Invest money, besides saving
Saving is good, but investing money offers more flexibility to financial freedom.
Also, compound your daily investments to build your wealth.
Invest your money in :
Stocks
Index MF
Real Estates
Crypto etc.
Build Network
Network with people, to leverage your profile.
The more you connect with people, the more opportunities will fall in your domain.
Your network provides:
- Support
- Opportunities
- Lasting relationships
- Increased self-confidence
Network is your Net-worth.
Make time your friend
Time waits for none, so optimize this asset.
We all have 24 hours in a day, optimize your 24 hours by:
- Prioritizing activities
- Creating a 'To Do List'
- Planning the day in advance
- Starting today to build a better tomorrow
Invest in Yourself
Investing in yourself is the highest dividend the money can pay.
Invest in yourself on -
Reading books, articles/blogs
Personal development
Building growth mindset
Learning daily
Investing in yourself has 100% ROI.
Pay yourself first
How to pay yourself first:
- Deposit paycheck
- Automate investments first
- Anything left over goes to bills
The process:
- Determine how much to invest
- Determine investment frequency
- Determine where it should be invested
Use the money to make money.
Build Emergency Fund
Life is unexpected and unprecedented things can happen at any time.
Be prepared for that.
Avoid credit-card debts and save money into a fund to use them at times of emergency.
This will help you in emergencies like medical emergencies, house maintenance etc.
Exercise
76% of millionaires exercise 50+ minutes daily.
Regular exercise increases:
- Focus
- Memory
- Sleep quality
- Physical fitness
- Mental concentration
A healthy mind lives in a healthy body.
Don’t Procrastinate
Procrastination is the biggest thief of life. Stop this disease ASAP.
Tips to kill procrastination:
- Break down large tasks
- Celebrate the small victories
- Write down your future goals
- Find an accountability partner
Use today to build the stepping stone for your future.
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