Not much truly separates the poor from the rich. Yes, many rich are born with privilege, giving them a big head start in life. But most millionaires are self-made. Being self-made means that they began as poor or middle class and created additional wealth for themselves. But what separates those few from the many that start, and stay, middle class throughout their lives?
First, it starts with mindset. Wealth is a Mindset that most people will never understand. If you can envision yourself as a millionaire, you will begin to make choices that lead you down that path. A great book to help you change your mindset is “Think and Grow Rich.” Once your perspective begins to shift towards wealth, your actions need to follow.
Your daily habits play a shockingly large role in the accumulation of wealth. When your practices align with a positive, wealthy mindset, you will start to feel “lucky.” As I wrote in “How to Have Luck With Money,” you can manufacture your luck via education and action. The action portion starts with your daily habits. So what are some healthy habits that make you wealthy?
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I can divide wealthy habits into four distinct categories- health, fitness, relationships, and self-improvement. If you can control these four things in your life, you will start to see massive improvements in your body, mind, relationships, and finances. The book “The Compound Effect” breaks down how small incremental steps in each of these pillars can cause large change over time. Let’s take a look into each of these categories.
Health. Your health starts with your daily diet. I am not a huge fan of living on a diet every single day of your life. I like to have a pretty consistent daily diet. On Saturdays, I have a mini splurge. When you exercise delayed gratification, you will get strong results and have something to look forward to on the weekends. The primary way that I control my diet is by tracking my weight. If my weight is hovering around my target level, I can have a little leeway on Saturday. If I am a few pounds heavier, then I have to tighten up. Only you can decide what is right for you. That is the whole idea of building wealth- delayed gratification. It starts with maintaining your diet, appearance, and attitude.
Fitness. Along with dieting, fitness is a vital habit to do daily. You do not have to go to the gym or run every day, but you will need to conduct physical or mental fitness. Mental fitness includes meditation and yoga. I go to the gym every day because it is just more comfortable than keeping a complicated schedule. I like to wake up early every day, which is another habit of successful individuals. Build fitness into your daily routine because it prepares you physically for the rigors of the day. Also, mental wellness prepares you for the stress of learning and putting actions into place. Rarely do things go exactly as planned, so having “mental toughness” is a must for wealthy individuals.
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Relationships. Relationships play a significant role in our lives. They probably play the biggest part of our lives- no matter how much people say, “I don’t need anyone.” Relationships are meaningful because they cause personal growth. There is usually a catalyst for our new processes. I know I decided to start on my path to financial independence because I wanted to provide for my wife. Spending time with loves ones is my driving force for becoming financially free. In essence, I am “buying my freedom” from the workforce. I am buying it through education and smart work.
Self-Education. Most people will get hung up on self-education. Immensely few people liked attending school, and most people do not want to learn in their off time. Netflix, sports, and politics rule the night. If you can convince your inner-being to start self-educating, you will become rich. I base my channel on self-education. I gather up as much information as I can and try to condense it down and express it in a manner that most can understand. I want to be the gateway to further education. Once you begin to educate yourself in retirement, real estate, business, and investing, you will start to realize money is everywhere. You can create money from thin air; you just have to learn how to achieve this feat.
My daily routine. I will list my daily habits for weekdays. I am currently still in the workforce, so I spend 8 hours a day at work. When I retire and become financially free, I will have 24 hours a day to spend with my family and keep myself engaged.
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Health. My diet consists of apples, grapes, pistachios, noodles (bad), salad, burrito, string cheese, and popcorn. My target weight is 152 lbs, and my average weight is 155 lbs.
Fitness. Every day I do a minimum of a 3-mile run outside or 1-hour of cardio in the gym. Suppose I have enough time, I do both in one day. Those are my best days; however, I keep myself too busy to do this more than once a week. Once I retire, I look forward to exercising 2-3 hours a day; including walking with my wife.
Relationships. My wife is the most essential part of my life. Since I am in Japan and on a 17-hour time difference, communication is sometimes difficult. However, we talk for 1-2 hours a day. Sometimes, when the stars align, we can speak for 3-4 hours.
Self-Education. I am new to the whole self-education mantra, but it has worked out exceptionally well. I read a book for roughly 30 minutes a day, research articles for about 30 minutes a day, and write articles for about 1.5 hours a day. On weekends you can triple these numbers. I love it. Even better, you can start to see the results compound slowly. My bank account slowly had more money at the end of the month, my dividends increase every month, and my kindle books sell more every month. It is exciting to see my plan come to fruition.
What are your daily habits? Do you have the correct mindset to accumulate riches? If you do not, how do you plan to convert your mind from a perspective of scarcity to one of abundance? Only you can achieve your goals. No one is going to rescue you. Without changing your mindset and your habits, you will continue to stay on the same path. And staying stagnant usually means that you are losing other things in life. Life requires you to push forward at all times.
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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