10 Things Wealthy People Do That You Don’t DoKehinde LAWAL
1. Have a financial growth mindset.
This mindset helps successful and wealthy people believe that there are always bigger and better projects to work on and there’s always more money to be made. They’re open to exploring new ideas. They believe they’re always capable of making changes and creating a positive outcome.
2. Network with other successful people.
Wealthy people understand the importance of surrounding themselves with other successful people. Wealthy people spend time networking with others who are wealthy but also have the drive, talent and, most important, the potential to become wildly successful. The rich spend time every month getting to know other like-minded people at conferences, events, and gatherings, or just grabbing a coffee or a drink with someone interesting.
3. Get outside your comfort zone.
Wealth and success don’t emerge from the safety of a 9-to-5 job. They come from drawing on your inner strength and going for your big dream. All successful business leaders, visionaries and game-changers have gone beyond their comfort zones in order to achieve the ultimate success. The people who will go down in history had the courage to face their fears and take that first step into the unknown.
4. Create multiple income flows.
The more money you have, the easier it is to make more money. And the easiest and fastest way to make more money is to have multiple income streams. That way you always have money coming in and can use the excess income to invest in new income flows. This, in a nutshell, is the primary way the wealthy stay wealthy.
Saving means putting money into a safe place until you want to retrieve it, but most savings accounts don’t yield high interest, so this pile of money basically stays static — it’s not going to grow much beyond what you add. But smart investments will give you healthy returns, which you can then reinvest. When you invest in something, you also accept some amount of risk, so you never want to invest more than you can afford to lose.
6. Take calculated risks.
The rich don’t gamble on big financial decisions; they do what they can to mitigate risk. They do their research and analysis and determine which options best suit their financial needs and business desires. They weigh the pros and cons and then take calculated risks.
7. Focus on self-improvement.
Wealthy people are usually avid readers, but you won’t find many mindless beach novels in their bookcases.
While 85 percent of rich people read two or more self-improvement books per month, only 11 percent read for entertainment, compared to 79 percent of the poor. And a whopping 94 percent of wealthy people read news publications, compared to 11 percent of non-wealthy people.
8. Never completely retire.
The ultra-rich certainly have enough money to never work another day in their life, but the majority of them keep working, at least to some degree, often well past 70. That doesn’t mean they’re clocking long days at the office; indeed, they’re probably taking their fair share of vacations and enjoying flexible schedules. But many rich people never completely retire. This is not because they can’t afford to, but because they enjoy what they do
9. Avoid overspending
While non-wealthy people daydream about spending money without worry, buying fancy cars, big houses, and expensive clothes, the rich understand that the more money you spend, the less you have. The wealthy wouldn’t stay wealthy long if they spent excessively. No matter how much money you earn, you’ll always be poor if you spend more than you make.
10. Take time to reflect.
This is the time to focus on self-improvement and working through ideas. Some may opt for journaling or writing to help them come up with creative solutions and ideas. Just make sure you’re spending your time on productive thinking. Don’t waste your mental energy on ruminations or negative thought loops that will make you second guess yourself. The wealthy don’t.
We’ve come to the end of the list.
I would love to know which if these 10 things drive you the most, kindly share it with me in the comments box below👇.
Article Source: Entrepreneur.com