Posts Tagged ‘ millionaire ’

Learning From The Habits Of The Wealthiest People

Saturday, February 1st, 2014

3 years, 2 months.

Dear Jack,

Some of the fatherly lessons you will learn from me are to never give up, to not back down on your convictions, and to be a leader.

I want you to see those concepts lived out in my everyday life. It’s in those daily routine actions and decisions of mine that I want you to see; especially in regards to how I interact regarding my love and commitment to you and Mommy… to our family.

Saying it and doing it are two entirely different things. The concept of never giving up is the backbone to being a good husband and father; the way I see it.

Even when I don’t know how to solve the problem, whatever it is, it’s a matter of dedicating myself to finding and applying the solution.

I keep that in mind with every other facet of my life as well: How much further in life can I get if I simply am more proactive that the average person in my same situation?

Instead of pointing the finger at others or even the situation itself, I have to point it at myself.

Not in an accusatory way, though- instead, it’s a call to self-appointed leadership: What can I do differently that will positively influence the people affected by the problem and proactively prevent the negative situation from occurring again?

I have to assume the role of the leader in most situations; otherwise, by default, that makes me a follower. While I may be a reluctant leader, I still am a leader- as your father, as Mommy’s husband, and as family member dedicated to increasing the income our family brings in each month.

As the book Rich Dad, Poor Dad teaches, I have to be willing to do the things the top percentile do if I want to reach the results they are able to.

For me, one important application of that means furthering my career on my own; not waiting around in hopes of getting a raise based on seniority or even my sincere efforts. In order to that, I have to delegate my free time in a way that provides me a chance of making money.

What’s going to help me make more money during my free time?

It’s like with this infographic about the habits of the world’s wealthiest people. (Click on Habits Of The Wealthiest People to see a full screen version of it.) They spend time learning each day, instead of seeking entertainment.

I am willing to make the sacrifices necessary to be one of those successful people. 

In my next letter, I want to talk to you about how exactly I plan to spefically help further my career and how I’m spending me free time to make that goal a reality…

But first, I will close with the findings featured on the infographic Habits Of The Wealthiest People. (Courtesty of NowSourcing.)

They Have a Routine: Maintain a to-do list, wake up 3 hours before work, listen to audio books during commute, network 5 hours or more each month, read 30 minutes or more each day for education or career reasons, and love to read.

They are Healthy: Exercise aerobically 4 days a week and eat less than 300 junk food calories per day.

Raising Their Children: Teach good daily success habits to their children, make their children volunteer 10 hours or more a month, and make their children read 2 or more non-fiction books a month

Television Habits: Watch 1 hour or less of TV everyday.

They Set Goals: Write down their goals, are focused on accomplishing some single goal, believe in lifelong educational self-improvement, believe good habits create opportunity luck, and believe bad habits create detrimental luck.

Love, Daddy

Richest People
Source: Business-Management-Degree.net

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The Millionaire Mindset of Generation X/Y Parents

Saturday, June 25th, 2011

Seven months.

My wife and I have a catch phrase in our house: “millionaire mindset.” Whether we are discussing an unnecessary purchase or are patting ourselves on the back for money we cleverly saved somehow, we speak our code word to each other.

It’s our way of reminding ourselves that in order to be successful with what we have been given and blessed with, we have to think with the mindset of a frugal millionaire who worked hard for his fortune.  It’s not that we are trying to become millionaires, but it sure won’t hurt if we are wise in our spending; and more importantly in our savings.

So we are not ashamed to use store brand products, to buy used stuff for our son off of Amazon.com or Ebay, and to make our own baby food for him.  We keep in mind that while name brand products tend to impress people, they are counter-productive when it comes to financially prospering in the long run. Having a child makes you reconsider your spending habits as well as your saving habits. After all, our son starts college in less than 18 years from now!

There was a time when bigger and flashier was better, when it seemed most people refused to buy store brand products; right down to their hand soap and kitchen table condiments (like it matters that your bottle of mustard says “Kroger” instead of “Hunt’s”.)

I think it’s safe to say that the modern cultural movement is now towards simplicity.  We, as a nation, are learning the meaning of “living within our means” and not consuming more than we actually need; that credit cards are the devil and that frequenting all-you-can-eat buffets are an invitation to onset Diabetes.

We get it now that money isn’t everything- and more importantly, that it in theory it’s a waste of time to spend our entire lives chasing more money, only to find that by the time we retire there may be nothing left for our own social security.  Money is simply a necessary evil, as far as I’m concerned.

My wife has said several times since we’ve been married, “I could never be a millionaire because I wouldn’t know what to do with the money- I would end up giving it all away.” Exactly. Because no one person can legitimately spend anywhere near a million dollars within a reasonable amount of time, without giving a good portion of it away.  Sure, it can be invested, but ultimately, it’s a matter of asking what the end goal is in investing that money.  I personally just don’t see much of a point in investing in a bigger lifestyle only to encounter more overhead.

Who knows, though?  Maybe all it would take is a million dollars to prove me wrong.  I doubt it though.  I prefer a laid-back, low maintenance lifestyle.  I don’t like extra noise even if I’m wearing the most expensive ear plugs.

I’m sure part of the reason my wife and I have this generational mindset is because we were both born in 1981; the crossroads between Generation X and Generation Y.  We were told our whole lives that money isn’t everything, but being happy is.  So we believed it.  And I guess we always will.

Free buzz cut courtesy of my wife… priceless.

buzz cut

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