Welcome to this post about common traits of millionaires!
When millionaires are the topic of the discussion, the word “money” is probably thrown out every 10 seconds or so. They save, they spend, they invest. We think that the only difference between them and ourselves is how much money we have. However, the genuine difference between them and us lies in our mindset, our personalities, and how we think.
When we first think of millionaires, we think of their huge houses, expensive cars, smart investments, and more. We should not be asking what items they buy or how much wealth they have, but rather, how were they able to get that wealth? What decisions did they make that led them to so much success and riches? And, how were they able to make that decision?
Every individual has their own personality, own goals and vision to achieve them. One person may have an entirely different plan than another person to attain success. However, in order to be successful in whatever you aspire to be, you must have some traits that will allow you to do so. For example, you can’t be successful while being lazy and negative. Just like that, millionaires have more than one common traits than just them all being worth millions.
We’d all be lying if we said that we don’t want to be millionaires sometime in our lives. But, in order to become one, we have to do more than work hard and save money. So, what really is the secret to success? Besides working hard and saving money, there are certain characteristics that set successful millionaires apart from the others. How do they think, what are they like, and how do they act?
This blog is all about the common traits of millionaires, so that you too can learn how 0.9% of the world are actually like. Of course, everyone has their own personality and mindset, but when it comes to achieving success, there are 10 common characteristics all millionaires have in common. No, not every millionaire is arrogant and egotistical. And no, not every millionaire thinks positive all the time and knows what they are doing. But, they absolutely do share these ten characteristics. So, read on to find out what they are!
1. They are focused
The first thing I did was commit to my success and playing to win. I swore I would focus and not even consider leaving this business until I was a millionaire or more
T. Harv Eker, millionaire and author of Secrets of the Millionaire Mind
One significant trait of millionaires is that they are focused. Once they figure out what they want, there is nothing that can stop them from achieving it. Why is that? Because they are focused and don’t get distracted from anything that hinders their plan. Unlike millionaires, most ordinary people will focus on the challenges rather than the ultimate goal, leading them to quit. However, if like millionaires, they went for it regardless, they could have made it big and attained a lot of success.
2. They think big
Those who make it big early on have a sense of urgency. They simply cannot be held back from acting on their ideas and passions now. They free themselves to dream big — to look at the world in a new light and see how things could be different, better, brighter. And then they go after that vision with gusto. They aren’t waiting for “someday” to happen; they seize opportunities and reach for their goals.
No one becomes a young millionaire by allowing complacency to take hold. You must keep your ambitions high. If you feel procrastination setting in, take a moment to visualize your big dream, your ultimate goal. Imagine all the possibilities and opportunities that lie ahead. Now start brainstorming ways to get there.
Having a big dream is the first step to success. Then you need to build a strategy to get there. Keep moving toward your goals. Persistence is the key to making your dreams a reality.
https://www.entrepreneur.com/article/315849
3. They act fast
Change your life today. Don’t gamble on the future, act now, without delay.
Simone de Beauvoir
When millionaires see an opportunity, they immediately seize it. This is because they know that times like these may not come again. Likewise, when millionaires think of an idea, they don’t let it sit on a shelf for months and years just to think about it. They take the idea and do something about it to create or do something brilliant. Ideas are nothing if no actions are taken upon it, and millionaires know that very well. They also recognize that it’s better to fail and make mistakes on a plan rather than to nothing about it. So, like said in the quote, if there is anything you are longing to do, get to it!
4. They build strong teams
It is rare to find a millionaire that made it rich without a team. There is only so much one person can do without the help of their teammates and mentors. Having a team provides motivation for one another to keep going and grinding. Along with this, with more than one mind, there are more ideas and perspectives that get shared. With this, one can keep him/herself accountable and find any flaws in their plan. For example, when Steve jobs founded Apple, he wasn’t alone. His partners gave him insight into the things he didn’t understand and that allowed him to grow his company!
5. They are not afraid of failure
“It’s fine to celebrate success, but it is more important to heed the lessons of failure.”
Bill Gates
While most people fear just the thought of failing something, you’d be surprised to hear that millionaires embrace it and take it as an opportunity to improve themselves. If we are afraid of failure, then we immediately are afraid of taking a chance and trying. This, unfortunately, limits us from being the best version of ourselves and going forward in life.
Failure helps us recognize our mistakes and learn more about ourselves and our plans. Without failure, we cannot learn how to handle challenges and be resilient. Success comes with failure, from knowing what not to do and learning what to do. It is an essential part of success, and should be viewed as a positive thing, not a negative. To millionaires, failure is one step closer to success. So, keep an open mind and be willing to embrace failure and learn from your mistakes!
6. They love learning
Learning and growing are the essence of the good life, as said by smh.com. Just because you are super rich doesn’t mean you know everything and have all the answers. Not all millionaires had proper education, but they definitely had a passion for knowledge. Of course, this doesn’t mean you need to go to college and get a phD, as there are so many other avenues of learning. Try to read at least 30 minutes a day, listen to podcasts and seminars, and even hang out with like-minded people. Observe success, life and living, ask questions, and be curious. This will keep your brain sharp and your success one step closer!
7. They are leaders
Great leaders don’t set up to be a leader… they set out to make a difference. It’s never about the role- always about the goal.
Lisa Haisha.
Another common trait of millionaires is that they are leaders. While everyone has their own idea of what a leader is, millionaires have the ability to inspire others, managing a team, and making decisions in spite of fear and failure. They have the strength in themselves to bring out the fighter in another.
Leaders change the world, and so do millionaires. I would be lying if I said I didn’t aspire to be like Bill Gates or any other successful millionaire. It’s not about how much they possess, but instead about their character and how they were able to be so successful.
8. They are intuitive and creative
Wildly successful young millionaires often rely on their intuition as much as their rational brain. Whether you call it a creative hunch or gut instinct, they get a feeling about something and they go with it. Young millionaires pay attention to the cues their inner voice is giving them, and it turns out this makes scientific sense.
Cognitive science tells us that many entrepreneurial discoveries and decisions are made largely unconsciously. In these situations, emotions and feelings precede rational understanding. Young millionaires learn to trust these moments of inspiration and follow their creative intuition. Then they work to craft these intuitions into broader strategic plans that can guide their future ventures.
www.entrepreneur.com
9. They are visionary
You need to be able to see the future long before it arrives. In other words, you have to know what you want, why you want it and what you’re willing to do to get it. Don’t just take each day as it comes. Instead, have a plan. Being visionary keeps you focused on where you’re going and eliminates procrastination in performance and hesitation in decision-making.
www.smh.com.au
By being visionary, you know what you want, when you want it, and how you are going to achieve that. And, by having this trait, you can change your life with just one vision. So, ask yourself: What are your goals and how are you going to achieve it? Once you have an answer to both of those questions, don’t waste time and get going!
10. They are generous
The beauty about having a lot of money is that you have more than enough for yourself. Millionaires know the importance of giving, and many even practice the Biblical mandate of tithing, or giving away 10% of your gross earnings. One of those who believed in tithing was John D. Rockefeller Jr., who taught his children the importance of always giving a set amount every time they receive any sum of cash. It’s also no secret that there are a lot of millionaires that form charities or foundations in order to share what they have with the less fortunate. In giving, you put yourself even more in the position of receiving.
yourfinancessimplified.com
The Takeaway:
We all have different characteristics and personalities that we show all throughout life. But, that doesn’t mean that we can’t change them. Life is about adapting to new things and changing ourselves for the better. What better thing to do is to give our mind a new look and new perspective on the world?
These ten traits of millionaires were not randomly picked from the sky. We’ve always been told to be focused, dream big, etc. However, the difference between the 0.9% of the world and us is that they take those lessons and integrate them into their daily lives.
So, together, let’s make that percentage greater and add on to the list of millionaires by improving our personality and instilling these ten traits in ourselves:
- They are focused
- They think big
- They act fast
- They build strong teams
- They are not afraid of failure
- They love learning
- They are leaders
- They are intuitive and creative
- They are visionary
- They are generous
With the thought of millionaires, the first word that pops up in our minds are money. However, millionaires are more than their money. They inspire the world to be the best they can and to never give up. For more information on the common traits of millionaires, check out the book: The Millionaire Next Door: The Surprising Secrets of America’s Wealthy. Along with that, take the next step and read our other blog, Daily Routines of Successful People.
Together, let’s become a generation that knows how to think and act smart. Together, let’s walk on the path to become millionaires. So, what are you waiting for? Try developing these traits for yourself and see how far you’ll go. Good luck on your journey to becoming a millionaire! I wish you all the best!