Dear Happy Investor, every millionaire possesses a certain mindset. A way of thinking that has made them immensely wealthy. Do you want to become a millionaire? Then it is useful to train a millionaire mindset. You can develop it thanks to concrete, daily actions. In this article you will find 9 tips for developing a millionaire mindset.
On to financial independence!
9 Tips to Train Your Millionaire Mindset
Here are nine things you need to do if you want to train your millionaire mindset! Understand that everyone can become a millionaire. Circumstances such as intelligence, heritage and natural talents can make you a millionaire sooner. But even if you lack such circumstances, you can still become a millionaire. In fact, there are many stories about janitors that are multi-millionaire. They, although not educated, had a millionaire mindset.
They are grateful for what they have. They work with passion and joy. And they all investing money for the long term. Accumulating interest for exponential growth.
1. Find your Why
Most people want to have a lot of money because they see on TV that being a millionaire makes you cool and you don’t have to work.
But that is not the type of people who become millionaires.
If you want to achieve anything, you need to know why you want it.
Finding your path to success means that you may have to wake up at 4:00 AM, make a lot of cold calls or not go to a party on a Friday night. If you find reasons to do it, you will do it. If you don’t, you will give up sooner or later.
You need to have a clear, specific reason why you want to become a millionaire. Will it make you truly happy? Will you become a better person? Will it benefit others?
What kind of influence do you hope to make? What are the benefits of achieving your seven-figure goal, and, perhaps more importantly, what are the downsides of not achieving it? When we make our vision and "why" about others, the amount of inspired action we'll take to attain it increases exponentially.
Training a millionaire mindset means that you don't take becoming a millionaire as a goal. Instead, you strive for a higher purpose. This is your Ikigai.
2. Find your Ikigai and become exceptionally good at it
It doesn't feel like work when you enjoy what you do. Money will undoubtedly flow to and through you if you enjoy what you're doing. Even if you're currently employed in a job or career that you don't love, changing how you think about it can change your entire perspective.
Instead of complaining about your job, think of it as what is helping you get to where you want. Speak life into your current position and change your mindset such that you value your job since it allows you to do what you love.
If you want to become a millionaire, you have to find a way to make money, right? If you want to launch a new business, make sure that you love what you do. It is going to take a lot of work, and If you don't love it, it will be easier to give up.
Finding your passion is not enough for a millionaire mindset. You need to find your Ikigai. This is a Japanese concept meaning you do what (1) you love, (2) you are good at, (3) what the world needs and (4) you can get paid for it.
The world only rewards if you deliver high value. A millionaire mindset means you develop your Ikigai and become exceptionally good at it. Only the best can charge premium prices.
3. Wake up early
Tom Corley, author, and financial planner surveyed 233 self-made millionaires on their daily habits and compared the responses with those of non-billionaires and what he found was amazing.
One of the most cited habits of millionaires was waking up early.
In Corley's study, nearly half of the self-made millionaires got out of bed at least three hours before their workday began. Many of them use their free time to work on personal projects, plan their days, or exercise.
Getting up at five a.m. to tackle the top three tasks you want to do in your day empowers you to reclaim control of your life. When you wake up early, you see the day differently. Your day will feel longer and more productive. People with a millionaire mindset understand this.
4. Learn to invest money
Working hard is not enough. A millionaire mindset involves learning how to work smart. Being smart about money is necessary for those who want to become millionaires. Therefore, every millionaire has a mindset for investing. Make money work for you. This happens 24/7, without providing physical labor. Moreover, in the long run, money grows exponentially thanks to successful investing.
Every millionaire has above-average knowledge of investing.
5. Change your relationship with money
Developing a millionaire's mindset means changing how you see money. Imagine money is a person. If you dislike it, you will subconsciously avoid being around them.
You may say: "But I like money!", and everyone says they like money. However, many of us have limiting beliefs about money.
If someone believes that making money is hard, they won't recognize the different options available to make more money. They will always be attached to the idea that making money is hard.
But what about people that are obsessed with making money? If you are always thinking: "I need to make more money," you are putting money farther away from you.
Being afraid of not making enough money is part of that scarcity mindset. If you have a scarcity mindset, you can’t become a millionaire. It’s like becoming very clingy when you are dating someone.
When you are afraid of losing money, you will not make the right decisions.
So, you have to see money as your friend, as someone who is always there to help you out. This is a radical difference between a scarcity mindset and a millionaire mindset. The latter sees money as a game to make more of it. Sometimes you win, and sometimes you lose.
Every day, try to sit down and examine your thoughts. Ask yourself where do they come from. You will identify many limiting beliefs that keep you from becoming a millionaire.
6. Be grateful
Practicing gratitude is one of the best ways to change your scarcity mindset. When you learn to be grateful, it’s like changing your focus. Instead of focusing on what you lack, you focus on what you have. Before eating, tell yourself how lucky you are of having food on your plate. Before going to bed, be grateful for the roof over your head. Be grateful for your family and friends.
When you are constantly grateful for all the things in your life, you train yourself to become conscious of your resources and how you can make the most of them. This is essential for a millionaire mindset.
Another benefit is this: those who are grateful need to (buy) less. This leaves you with more money. Money that you can invest in shares or other assets. Thus, you can make more returns and become a millionaire sooner.
7. Be solution-focused
If you want to develop a millionaire mindset, you need to see solutions where others see problems. When things get challenging, and most people pack it in and go home, the millionaire mind knows there's always a solution, and no matter how big the problem or challenge, it's a blessing in disguise. Even failure has benefits that you will profit from in the future.
It helps to develop positive thinking. Being positive leads to a more open mind. In this way you can spot opportunities more easily. Read more about how to develop a positive mindset.
8. Practice meditation and mindfulness
Many millionaires and billionaires cite daily meditation as one of their keys to success. Meditation allows you to be in the present, clear your mind from inner chatter and see things clearly.
The modern world is full of distractions that separate us from tapping into our full potential. When you meditate, you get in touch with your true self, which is essential when making decisions.
Ophrah meditates for 20 minutes, twice a day. Jack Dorsey meditates first thing in the morning. Ray Dalio, the founder of Bridgewater Associates, said: "Meditation, more than anything in my life, was the biggest ingredient of whatever success I've had."
Skeptic? Try it yourself! Even as little as ten minutes can make a difference. Sit down in a comfortable position, close your eyes and breathe. Inhale deeply, hold your breath, exhale slowly. Repeat as much as needed.
If you let your mind go to the future or the past, you won't have any control over it. Meditation is like a gym for the mind. It allows you to focus and relax.
Another aspect of a millionaire mindset is to be fully in the now and perform actions with full conviction. Give your maximum, even in small activities, and you will grow exponentially.
9. Act as if you are already a millionaire
You need to trust yourself and your dreams. If you don’t, they won’t become a reality. So, If you want to train your millionaire mindset, start acting as If you were already a millionaire.
In other words, feel abundant. Pay attention to all the prosperity you already have. Your friends, family, job, the food you eat, the roof over your head, the sunset… We often forget about the small things in life, and they are what make us the richest.
Also, start acting as a millionaire would. Make decisions as If you were a millionaire, and If you keep that for a long time, you will become one.
Being a millionaire is about mindset. Train your millionaire mindset. Find your Ikigai and become exceptionally good at it. Learn to invest and make money work for you. Be grateful with everything you have. And live and undertake with full conviction.