6 Millionaire Mindset Secrets

Andrew Flanagan
Nov 6 · 5 min read
This post contains affiliate links — at no additional cost to you, if you click through an affiliate link & make a purchase, I may make a commission

We all like to dream about being financially wealthy. For most people, though, it remains nothing more than a dream. Millionaires are unique in the way they think — this mindset helps make them more money. Having such a mindset can be life-changing. If you want to make more money, start with these 6 Millionaire mindset secrets.

1. Do

Stop hoping, stop thinking, stop Just planning & actually do something. A wealth empire is not just gonna fall into your lap fully functioning — it will take work & YOU will have to do that work. Millionaires are doers — they work on their ideas & plans.

If you keep doing the same things, you’re gonna have the same things. If you want to change what you have, then you’ve got to try something else. “If you want to change the fruits, you have to change the roots” — T. Harv Ecker. You have to get outside of your comfort zone to make changes. Go out there & put yourself in situations when you feel uncomfortable. When you feel that clutching feeling in your stomach, think to yourself: “I’m growing! I’m moving towards becoming richer & more successful”.

Rather than fear & fight discomfort, embrace it. Stop pining over the fact that you are not yet a Millionaire & start doing something.

2. Don’t ‘Save’ Money

Yes, you need an emergency fund. Ideally, it should be enough to allow you to pay your bills for at least 6 months — if ever you find yourself in financial trouble.

But, don’t save your money for the sake of ‘saving’. Don’t let it sit in your bank, earning very little interest. Stop working for your money, make your money work for you — invest your money. Millionaires have their money work hard for them. Poor people work hard for their money.

If investing scares you, you can start with investing in some low risk options. Buy Mutual Funds or buy stocks in blue-chip companies that have a good track record.

Keep in mind though that low risk often leads to low returns. But, at least you are not letting your money just sit in the bank.

3. Focus on Actually Being, Rather than Just Looking, Wealthy

Thomas Stanley & William Danko, in The Millionaire Next Door, found that most Millionaires drive used cars, live in average neighborhoods, wear average priced clothes & watches etc. They pointed out that there are “Those who look rich, and those who are rich.” Your job is to be one of those people who are genuinely rich, rather than those who spend a lot of money but who have very little in the bank.

Don’t go broke looking presentable. Be practical in your spending — don’t spend to impress other people. Avoid spending your money on things that will not earn you any returns. Instead of getting caught in the trappings of wealth, the sports car, the expensive phones, the big mansions, etc., focus instead on growing your wealth.

4. Keep Learning

Millionaires never stop learning — many live by the adage ‘The more you learn, the more you will earn.’ Every new lesson or skill learned is turned into an opportunity to make money.

Keep improving yourself. Take classes, always be open to learning new skills & read books that will help widen your understanding of the world as much as you can. Read Millionaires biographies — try applying the lessons they teach to your own life.

Some of the most famous Millionaires in the world — Elon Musk, Oprah Winfrey, Mark Zuckerberg etc. — have professed their love of reading. Warren Buffet estimates that he read at least 100 books on investing before he turned 20.

5. Set Long Term Goals

Don’t think about the present Only, think of the future as well. Set goals that can span years or decades. Look ahead — have clear goals of where you want to be. Millionaires often have very clear goals & plans that they follow until they get to where they want to be.

Why does this work for Millionaires? Because long term goals force you to deal with questions like ‘how can I double my income for the next few years?’, instead of ‘how can I pay the light bill next month?’.

Millionaires are often willing to give up short term conveniences for long term financial ease. Stop falling for the trap of instant gratification.

6. You are not your Circumstances

It is easy to fall into the trap of thinking that you have the life you have because of the circumstances you are dealt. This is a myth — if you believe this, then you should definitely change the way you think.

When we see our ups & downs as reflections of our self-worth, it’s hard to stay grounded & consistent in our actions. Failure is seen by Millionaires as an opportunity for growth. There are thousands of factors controlling their successes & failures. Simply take everything that comes your way as a lesson, don’t celebrate victories for too long or ruminate on defeats.

Don’t play the blame game. If you don’t like how something is, then work to change it. Create your own opportunities. Millionaires believe “I create my life.” Poor people believe “Life happens to me.”

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This post contains affiliate links — at no additional cost to you, if you click through an affiliate link & make a purchase, I may make a commission
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