5 Millionaire Habits That Changed My Life

so we all know that life isn't all about money but it wouldn't be pretty nice to be a millionaire so what we're gonna do today in this video is break down some of the habits and strategies that people have used before us to build wealth and what's great about this is that there's about 50 million millionaires in the world which means that this path has been laid out before us and we can kind of in a sense mimic or copy some of the ideas or the strategies in the ways that people live their lives who are financially successful - in an attempt to hopefully find more success financially for ourselves so today what we're gonna do is we're gonna dig into some of these different habits and it turns out that only about 12% of millionaires actually have inherited the majority of their wealth so this is a really interesting statistic but what I found from this is that it really is possible for anyone to build wealth over their lifetimes so we're not going to discuss some of the cliche habits such as reading eating healthy exercising we know those are habits that are commonly practiced by financially successful people but let's talk about some ones that are a little bit different some things some things that have helped me 10x my income increase my productivity and I found to be really really valuable so one of the first habits that I adopted was journaling now I don't like to call it this because for the most part 90% of what I write down on an everyday basis is primarily business oriented but people have different reasons for writing things down I think it's very important for people to essentially dump their thoughts and have them on paper somewhere written down now there's a variety of reasons for this one of them being that it helps with clarity when thinking about long-term goals especially if you're trying to build wealth or you have specific goals for yourself in the coming years by writing them down and having that there for yourself to look at there can be times where maybe you have some struggles maybe you have some problems or something that you need to overcome you can go back and look at what you wrote look at what you were thinking last week last month five years ago to better understand your direction that you should be or you had planned on going when you were writing things down now this is also great for other things not related to business I think people who are struggling with depression or struggling with with issues in their life writing it down can in a sense be somewhat therapeutic and I think you can be all-around a positive for most people to just write things down dump your thoughts onto paper and you know I go through one of these probably almost every quarter I just write down a lot of my ideas in them and it really does help me a lot with everything in my life and you know I go back over these after the year and I look at what I wrote down and sometimes I laugh sometimes I think wow you know this is great that I've been hitting some of these goals I've been lacking here but I'm gonna write down more in the future so the other habit that I think is very important for people to adopt and I learned this by studying a number of billionaires actually is to focus on producing instead of consuming when you find yourself with some free time so a great example of this is most people when they have some free time maybe this is after work maybe this is before work or maybe on a Sunday and most people choose to consume content maybe this is Netflix or watching movies or finding some type of entertainment now don't get me wrong there's nothing wrong with this I watch movies even the most successful people in the world watch movies and TV but what I found is that a lot of millionaires and billionaires will with their free time instead of consuming content they'll focus on building skills and this could be something as simple as playing guitar but the difference is if you focus on focusing on building skills in your free time it's going to make you in the eyes of the world more valuable as a person because you have more skills this could be reading a book an hour before bed instead of watching TV to increase your human capital but it's something to build more skills and focus on are always trying to be somewhat productive for the most part you can obviously splurge a little bit and go watch some movies or watch some TV but try to limit it in a sense so that you're always focusing on growing learning new things building new skills and becoming more valuable as a person in the eyes of the world so after reading a few books on Bill Gates I learned that he likes to do something over his entire life which is known as think week so this is something that bill does who is as you probably know the richest man in the world he just passed jeff bezos again to take his number one spot back and something like a hundred billion dollars or more in his total wealth now what Bill does is every week every year he will take a week and he'll go into a cabin somewhere isolate himself from the world and just spend that time thinking and reading about life and about ideas but the purpose of this from what I've learned is to kind of take a step back from time to time if you're focusing on goals or you're focusing on trying to grow in some way sometimes it's important to take your head away from the grindstone and think am I going in the right direction that I want to be going and that's why there are some people like say Gary Vaynerchuk who's great for motivation but sometimes if people are so much focused on just working working working they never take a step back and say where am I actually going here and how can I strategize and find a better more efficient way to complete this task and so I think taking a step back in doing something even such as meditating to really kind of get in a state of mind where you are very clear on what you are doing I think it's something that really does help so meditating and taking some time to think sometimes I'll go for very long walks sometimes for hours at a time to really just clear my brain and to take a step back for myself now the fourth habit here that I think is incredibly important that I didn't actually start implementing until the past few months and it really has increased my productivity is by doing something called block scheduling and filling out a calendar religiously so the point of this is that look for years I would try to balance all these different things and these tasks that I had on an everyday basis without actually writing them down so what I do now it's very simple I just use my phone I use Google Calendar and I fill out this calendar it's absolutely packed with everything that I have to do for that specific day now if you're not running a business and you're just trying to build wealth and maybe the stuff market then I still think that having a calendar it's just going to help so much you're gonna forget less parties that you have to go to on a Saturday because you totally blew it off and you just your mind was going in five different directions at the same time I found that just keeping a calendar it's so easy you should really start doing it I do this on a physical calendar that I still hang up on my wall I don't really fill it out anymore because I'm generally find myself not always in my apartment so it's easier to do it on my phone and on my computer on an everyday basis now people like Bill Gates and Elon Musk and some of the most successful people in the world literally block out schedules in their day by five-minute increments so this is for some serious productivity not everybody's going to want to do this and I don't go to that level of five minute increments but it does certainly create some order in your life and having some type of routine in your life is going to help you don't have to schedule out when you're gonna poop and when you're gonna do all these other things but just having some type of routine of when you're gonna wake up what time you're going to start working what time you're going to work out what time you're going to take care of certain things and what times for spending time with family so that you have this all fixed so that instead of what most people do is they find themselves kind of running around trying to be productive but they have all these different things things that come up and they suddenly they're getting ready to work and then all of a sudden that to make dinner and then they eat dinner and then they have to clean the dishes and then they trying to get back to work and then all they remember it's trash night so they have to go take out the trash and then they start to get back to work and then all they remember they have to call somebody to fix some problem that they have and then they never actually get to working or focusing on that skill that they're trying to develop or that goal that they're trying to reach so just keep that in mind scheduling everything out is really going to help with productivity all around the board so the last habit that I want to share with you today is networking now I for a very long time disregarded this I thought you know what I don't really need to network with millionaires or people who are very successful from a financial standpoint in order for myself to succeed but the truth is that you are very much the average of the five people that you spend the most amount of time with and I I have said this previously on my channel but it's so incredibly impactful in my life to know that the people that you associate with closely are going to be the people that you are going to become so if you are spending time with drug addicts you might end up being a drug addict yourself now that's not always going to be the case 100% of the time but the point here is that if you are spending time with people who are successful from a financial standpoint chances are you're probably going to end up being successful financially as well because that's going to be something that's going to be discussed very often when you're sitting around the table talking or even when you go out to say you go out to some bar somewhere and you're with successful people they're probably going to be talking about success and kind of hyping each other up and I found that it actually really does help in a lot of cases to associate with people like that now I tend to try to associate with people who are very much driven towards their goals rather than people who just maybe inherited money spending time with trust-fund babies I don't find that to be very valuable very often because they probably didn't really work for all their money so it's difficult to relate to them I like to focus on trying to connect with people who have made money or or found success for themselves on their own and I think that's just something that I really love to do so a great way to do this look you can just go through your town and find people who are real estate investors start to talk to them start to understand how did they start to do this you can talk to people who maybe have somebody in your family who is seen as the successful one in the family talk to them ask if they can in a sense mentor you or show you how they did what they did you can even go on to LinkedIn you can even just DM people on Instagram who are successful to find out what it is that they did and ask them for some tips on what they're doing now be careful of this you don't want to have to go out and like spend money and pay somebody to mentor you I think that's a bunch of baloney you don't want to fall into that but that's my opinion on this so those are some of the habits that I adopted that have increased my income tenfold in the past two years and there's something that I really do am very passionate about so thanks for watching the video I really appreciate all support this channel is growing quite fast recently so thanks for subscribing thanks for dropping a like on the video and I'll see everybody in the next video [Music]

Channel: Nate O'Brien

Views: 1,681,606

Rating: 4.9379067 out of 5

Keywords: habit harvester, how to be a millionaire, how to make more money, millionaire habits, millionaire mindset, millionaire tips, mindset of weath, money habits, money habits example, money making habits, weathly habits, nate o'brien, habits to change your life, habits of successful people, how to become a millionaire, success habits, how to get rich, entrepreneur advice, entrepreneur motivation

Id: yRrtPn9vUtM

Length: 11min 7sec (667 seconds)

Published: Fri Nov 01 2019