I've studied hundreds of millionaires over the past five years.
This thread covers 20 strategies that *all* millionaires use to get rich.
This thread covers 20 strategies that *all* millionaires use to get rich.
1: Happy people attract wealth.
Happy people are easy to be around. Easy to love. Easy to support.
Happy people are magnets for wealth.
Most wealthy people aren't happy because they are wealthy. They are wealthy because they are happy.
Happy people are easy to be around. Easy to love. Easy to support.
Happy people are magnets for wealth.
Most wealthy people aren't happy because they are wealthy. They are wealthy because they are happy.
2: Get a marketable degree
Not all degrees are created equal. And no, you don't NEED to major in computer science to make your degree pay off.
Pick a major that matches your strength.
- Electrical engineering
- Statistics
- Marketing
- Architecture
- Biomedical
Not all degrees are created equal. And no, you don't NEED to major in computer science to make your degree pay off.
Pick a major that matches your strength.
- Electrical engineering
- Statistics
- Marketing
- Architecture
- Biomedical
3: Network in college
My network was the #1 reason I made 6-figures in my 20s (this was 15 years ago).
College isn't just for the classroom. Use it to start building a money-making network of friends and colleagues.
It WILL pay off.
My network was the #1 reason I made 6-figures in my 20s (this was 15 years ago).
College isn't just for the classroom. Use it to start building a money-making network of friends and colleagues.
It WILL pay off.
4: Switch jobs every three to four years
I got a 15 to 20% raise every time I moved to another company.
Don't count on cost-of-living raises to increase your salary. That's the worst way to boost income.
I got a 15 to 20% raise every time I moved to another company.
Don't count on cost-of-living raises to increase your salary. That's the worst way to boost income.
5: Set goals
Without a target, we are aimless. And we'll have no idea if weβve hit it.
Tangible goals are the stepping stones to $1M.
No goals? No wealth.
Without a target, we are aimless. And we'll have no idea if weβve hit it.
Tangible goals are the stepping stones to $1M.
No goals? No wealth.
6: Invest 20% of your income
Invest at least 20% of your income from your first job. Get used to it. Make it a habit.
If your company has a 401(k), use it. If they match, contribute to get the max.
Your 9 to 5 job offers many opportunities to build serious wealth.
Invest at least 20% of your income from your first job. Get used to it. Make it a habit.
If your company has a 401(k), use it. If they match, contribute to get the max.
Your 9 to 5 job offers many opportunities to build serious wealth.
7: Invest, don't trade
Long-term investing is boring. No daily trading. No constant buying and selling.
The best investment moves are yawn-inducing.
They help position great investors to exploit compound interest over decades, not days or months.
Long-term investing is boring. No daily trading. No constant buying and selling.
The best investment moves are yawn-inducing.
They help position great investors to exploit compound interest over decades, not days or months.
8: Embrace risk
Successful people take risks, period.
β« Investments
β« Businesses
β« Inventions
β« New paths
β« Moving
Playing it safe doesn't breed success.
Successful people take risks, period.
β« Investments
β« Businesses
β« Inventions
β« New paths
β« Moving
Playing it safe doesn't breed success.
9: Embrace the index
Index funds outperform the majority of actively managed mutual funds.
They aren't exciting, but they work.
Millions of investors build consistent wealth through the power of index investing.
Index funds outperform the majority of actively managed mutual funds.
They aren't exciting, but they work.
Millions of investors build consistent wealth through the power of index investing.
10: Understand price vs. value.
Most people don't look beyond the price of a stock. Experienced investors focus on value instead.
βPrice is what you pay. Value is what you get,β Warren Buffett once said.
High-quality companies offer value that prices don't always match.
Most people don't look beyond the price of a stock. Experienced investors focus on value instead.
βPrice is what you pay. Value is what you get,β Warren Buffett once said.
High-quality companies offer value that prices don't always match.
11: Trust yourself
Successful people rely on themselves to:
β« Solve problems
β« Acquire wisdom
β« Build opportunities
Your mind is your best resource. Use it.
Successful people rely on themselves to:
β« Solve problems
β« Acquire wisdom
β« Build opportunities
Your mind is your best resource. Use it.
12: Ignore the news
Most news is noise, and this is true with money news. When it makes the news, genuine money-making opportunities have long passed.
Great investors ignore most financial news.
Most news is noise, and this is true with money news. When it makes the news, genuine money-making opportunities have long passed.
Great investors ignore most financial news.
13: Shrink your circle of friends
Great investors know trustworthy sources. They are naturally untrustful of people they don't know.
Most advice we get is bad (or not tailored for you).
Most millionaires keep their partners and friends limited to only the best.
Great investors know trustworthy sources. They are naturally untrustful of people they don't know.
Most advice we get is bad (or not tailored for you).
Most millionaires keep their partners and friends limited to only the best.
14: Learn to prioritize
How successful people prioritize:
β« They produce before they consume
β« Their health is more important than money
β« Their time is more precious than fame
Successful people know what's important.
They go after it, protect it, and nurture it.
How successful people prioritize:
β« They produce before they consume
β« Their health is more important than money
β« Their time is more precious than fame
Successful people know what's important.
They go after it, protect it, and nurture it.
15: Diversify
Wealthy investors never go "all in" on any one business or type of investment.
π Yes, this includes crypto.
They also avoid over-diversification.
Millionaires invest heavily in great opportunities because great opportunities don't always come around.
Wealthy investors never go "all in" on any one business or type of investment.
π Yes, this includes crypto.
They also avoid over-diversification.
Millionaires invest heavily in great opportunities because great opportunities don't always come around.
16: Produce
Consumers spend money. Watch TV. Play video games.
Producers make money.
β« They write
β« They create
β« They build
Riches are attracted to those who produce.
Consumers spend money. Watch TV. Play video games.
Producers make money.
β« They write
β« They create
β« They build
Riches are attracted to those who produce.
17: Wealth is not meaningful without health.
Money can buy medication, but it canβt buy a healthy lifestyle.
Smart millionaires don't sacrifice health to obtain wealth.
Money can buy medication, but it canβt buy a healthy lifestyle.
Smart millionaires don't sacrifice health to obtain wealth.
18: Be patient
Unsuccessful people quit too early (and too often). But "Never give up" is bad advice. Success lies somewhere in the middle.
Millionaires *know* when to quit.
Patience is a virtue that makes success possible.
Unsuccessful people quit too early (and too often). But "Never give up" is bad advice. Success lies somewhere in the middle.
Millionaires *know* when to quit.
Patience is a virtue that makes success possible.
19: Code of ethics
Most millionaires live and die by their code of ethics.
They:
β« Sleep well at night, and
β« Listen to their conscience
This is the recipe for $1M+.
Most millionaires live and die by their code of ethics.
They:
β« Sleep well at night, and
β« Listen to their conscience
This is the recipe for $1M+.
20: Positivity
Millionaires are relentlessly positive.
They expect things to go right, and more times than not, they do.
The Placebo Effect works.
Millionaires are relentlessly positive.
They expect things to go right, and more times than not, they do.
The Placebo Effect works.
These threads take a lot of time to write.
If you dig this thread, please RT the first tweet.
It helps me, and it helps you spread money intel that's much needed out there
If you dig this thread, please RT the first tweet.
It helps me, and it helps you spread money intel that's much needed out there
The world's best habits are those that *make you money*.
I wrote a guide on how to copy those habits. I've sold guides like this for more than $100, but this one is yours FREE.
steveadcock.us
I wrote a guide on how to copy those habits. I've sold guides like this for more than $100, but this one is yours FREE.
steveadcock.us
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