As children, many of us dreamed of becoming millionaires. As adults, those dreams still exist, but in a more subdued, “if only” realm. Many people believe that if you’re not rolling in money by age twenty, the ship has clearly sailed, but that’s not true at all.
It turns out that wealthy individuals tend to share similar thought processes and world views that might just contribute to their overall success. Now, it’s important to note that none of these tips are going to turn you into a millionaire overnight, but it’s worth exploring.
What if the only thing preventing you from living the lifestyle of your dreams is the way you think about life? Take a look at these insights, and think about how they might relate to your general outlook. Maybe a few changes are in your future, including the numbers in your bank account!
Millionaires Have a Long Term Perspective
What is the first thing you think about in the morning? For many, it’s a sense of dread about getting ready for work, followed by a semi-automatic venture for coffee or breakfast, followed by the morning commute, etc. This footstep-by-footstep outlook might be part of the reason you’re not a millionaire.
Millionaires look at life with a long term perspective. Instead of spending the first half of their day thinking about where they’re going to order lunch, they spend that time planning long term goals, like “where is my profit coming from this month?” or “How can I double my income?”.
Obviously, it’s important to eat lunch and pay your bills and make ends meet, but what if you afforded yourself the luxury of looking beyond later today, beyond tomorrow, and months, years, even decades in the future?
When truly financially successful people set goals, they set goals for now and later. They create an entire roadmap to success. One goal is just a step towards the next goal.
Millionaires may think about what they want for lunch, but they obsess over what their life goals are, and what steps they can take to make those dreams come true.
Millionaires Are Introspective
Since many people get caught up in the “here and now,” they don’t take the time to think about themselves. Millionaires are highly self aware, and much of their success is due to the fact that they know what they want, they plan a course of action to obtain their goals, and they arm themselves with the knowledge and skills to surmount any obstacle in the way.
As Ray Dalio outlines in his book, “Principles”, it’s crucial to your success to know truths about who you are, what’s important to you, and to surround yourself with people who can help you self-actualize.
The process of discovering yourself is not necessarily fun, and you might have to acknowledge some grim truths about yourself.
This is not a game in which you beat yourself up, but instead, take a look at habits, values, beliefs, characteristics, and figure out what your true passion is.
At this point, many people get caught up in the idea that they can’t turn their passions into careers because “there’s no money in it.” Abandon this mindset. Instead, think about what you can do today to get a toe in the door. Then a foot. Then the whole leg. Chances are good that if you are truly passionate about something, you are willing to follow through all the steps until it becomes your lifestyle.
Instead of thinking “how can I get more money?” try thinking “what are the steps I need to complete to enjoy more success in what I love?”
Bonus Video: 5 Habits of Successful People
Start thinking like a Millionaire but limit your Risks
It’s important to discuss the concept of risk here, as well. Part of the process of setting goals, and looking deep within yourself to acknowledge your passions, skills, etc, is that you are focusing on being realistic.
Millionaires know the odds. Quitting your job to write a worldwide bestseller is a very big risk. Working on your future bestseller in earnest after work and networking with published authors is a low risk. Invest your thoughts and energy into small steps, rather than taking big leaps without considering the possibilities. This is a process of setting goals, not instant gratification.
In fact, delayed gratification is one of the principles that many millionaires attribute to their success. Many of us are unhappy, uncomfortable, and demand that instant happiness that comes from the “treat yo’self” mentality.
While it’s fine to enjoy an occasional treat, successful individuals have learned to be tempered and frugal with their funds. If they want a particular item, they plan their goals accordingly. Most of us cannot constantly spend money on fun things and still save millions at the same time, so plan goals accordingly.
Things Happen: Even to Millionaires
When something changes in your life, do you tend to look upon it with fear and sadness, or with optimism? While many people mourn change, millionaires look forward to the new opportunities these changes bring.
This is the process of reimagination, and rather than letting change completely derail your goals and plans, let it be a point of changing focus. Examine changes carefully, because what may seem to be a complication may in fact be the biggest blessing to your plan.
Millionaires avoid fear with knowledge. There is a reason every rich person in the media is portrayed with a vast library of leather bound books.
Successful people educate themselves on every aspect related to their dreams. This is a low-risk activity, as well. With the internet and public libraries at our disposal, it is possible to research any topic at any time at very low cost. The only investment is your time and energy!
Consider the potential of endless knowledge, though. When change occurs, you’ll already be armed with alternative steps and resources to help guide you to potential solutions.
While thinking like a millionaire may not help you wake up next week with a few extra commas in your bank account, it can help you take that deep breath and refocus your efforts not on complacency, but on success.
Turning your thoughts from “getting money” to “making money” can help anyone with the process of setting long term goals. Keeping yourself on the cutting edge of knowledge will also help with a proactive stance in adapting to change and keeping your focus on those goals. With time and temperance, you might just become a millionaire!