5 Habits The Richest People In The World Share

When I was 17 years old, I started my first company. In the next two years, I’d go through a lot of changes in my life. I started making money at that age, which wasn’t the best thing for me.

Instead of spending my money wisely and investing it as I know to do today, I was wild. I bought a sports car, went to tons of Laker games and blew money in various ways. From my networking, I came across a group of wealthy individuals who held a mastermind group each week.

They were determined to teach me some things about money. One of the greatest things they shared with me were some of the habits the super-wealthy people in the world had in common.

In this article, I discuss the 5 habits the richest people in the world share:

1. They Worship Their Time

The one thing I’ve learned over time is that time is the greatest currency in the world. Wealthy people understand that and value their time greater than others do. That is why they are so successful.

They don’t waste time watching television or doing counterproductive things. Not only that, but they have a strong focus for working on income-generating activities. For all others tasks, they outsource or hire others to manage it for them.

2. Their Network Determines Their Net Worth 

Have you heard of the saying? If you divide the average income of your 5 closest friends, that will be your income. Wealthy people not only understand this model, but they make it their mantra.

Surround yourself with people who are going to make you better. When I started off as a young entrepreneur, I was pushing myself to the limits because the people around me were doing the same.

3. They Take Risks

Meet any extraordinary person and I guarantee you that they have taken a risk at some point in their life. However, rich people don’t just take risks. They take smart risks.

What is a smart risk you ask? Well, a smart risk is the same as a calculated risk. A risk where you weigh the pros and cons while doing everything possible to minimize the risk aspect of it.

4. They Don’t Give Up

97% of people work for 3% of people. Do you know what that most likely means? That 3% of the population refused to give up when things got tough. While a large group of that 97% decided to give up when things got rocky.

Wealthy people wouldn’t be where they are today without a lot of persistence. Failure and quitting are words that do NOT exist in their vocabulary. If you want to be wealthy or successful, you cannot give up.

5. They Spend Less & Invest More

Money is a very tricky thing to master. Most people are never able to master the concept of money in their life. The regular person increases their expenses as their income increases. However, that brings them back to average.

Wealthy people instead spend less and invest more even when their income is increasing. By doing this, they are able to create long-term assets and income streams that don’t require a tradeoff of time. In the long-run, they continue to grow their income while the regular person struggles on a month to month basis.

Conclusion

In this article, I shared 5 habits the richest people in the world share. Through your experiences, what are some habits you’ve developed that have helped you greatly? Feel free to share your thoughts in the comments below.

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