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Wealth is a mindset. You hear it all the time. What separates the rich from the middle class is the mindset. It is not as black and white as that.
There are certainly other factors and circumstances that play a huge role in how successful you end up being.
But the mindset is certainly a big part of it. The thing is, everyone can adopt this type of wealth mindset. Even if you are not wealthy.
Start thinking like a millionaire and you have a better chance of becoming one.
Nothing is guaranteed, of course. But you need a solid base to build upon and a wealthy mindset is just that.
#1 Always Keep Learning
If you are done learning then you are done. The millionaire mindset is one of constant evaluation.
If you don’t know something then you research until you do. And not just dinner conversation knowledge either.
A millionaire mindset is one that needs to know everything about a subject that they are tackling or put people in place around you that have that knowledge.
Never stop learning. It keeps your mind sharp and builds on itself so that you can anticipate what actions to take in the appropriate situations.
It doesn’t mean that you will always make the right choice and that might be the most important lesson you can learn.
Failure is what teaches you the most. About yourself and about how to deal with similar situations in the future.
Never stop asking questions and never stop looking for the answers.
#2 Time is Money, Friend
Time literally is money. You have a job. You are simply trading your time for money. In many jobs, expertise is required as well, but your time is the main thing you are being paid for. Millionaires don’t waste time.
Not when they are working anyway. There is of course time for leisure and rest, but at work, you have to be focused on the job at hand.
Working hard is great, but working smart and using your time wisely is the real way to make yourself into a millionaire.
It is this way of thinking that really sets wealthy people apart from a middle-class mindset. Of course, mindset is not the only thing you need to achieve your monetary goals.
Making the most of the limited time we have can be the difference between an ordinary life and an extraordinary one. Even if all other factors are equal.
You have to believe in yourself and what you are doing to be successful. In all honesty, this is something that you need at any level of success. Even if no one else believes in you. It can be tough and it can be soul-crushing at times.
But you have to maintain that belief in order to push through the negativity and make good on your dreams.
This confidence in what you are doing and how you are doing it can help you achieve almost a magnetic attraction to success and money, you can learn more about money magnetism in our article here.
#4 Quiet Time Is Idea Time
Reflecting on what got you to where you are and what is going to get you there is another hallmark of a rich mind.
Taking a little quiet time to map out where you have been and learning from the pitfalls is a great way to gain confidence for what lies ahead.
Taking a few moments to plan out your future moves is also a great way to build your confidence and mindset in such a way that you are always evaluating your actions.
Not second-guessing, but an honest quiet evaluation is something that a wealthy mind needs to have.
One other thing to ponder in these quiet moments of reflection is that you don’t need to be rich to have a wealthy mindset. Everyone is worthy of wealth. The mindset comes first the money will soon follow.
#5 Failing is Part of the Game
Everyone fails. That is just a fact of life. Millionaires, Billionaires, middle class working people. They all fail. The trick is learning from those failures. Having a tolerance for those failures and then trying again.
You are not perfect no one is. No company is. What really sets the most successful companies apart is not their aversion to taking risks and failure.
But the exact opposite. Taking the risk and building up an extreme tolerance to failure. Amazon is a great example of this type of mindset(source).
#6 Assets Are The Key
Money is not the key to being rich.
Assets are. Money has no inherent value. We, as a society, have just decided that this much money will buy you this much stuff. It is the stuff, the assets that have the real value. Millionaires understand this.
Assets, good ones at least, appreciate. They go up in value. A dollar is just a dollar and most of the time fiat currency has less and less buying power over time.
A bit of good fortune and timing goes into it as well. If you got a hold of some Bitcoin in 2011, for example, you had a little luck on your side and you probably saw the value in it.
Bitcoin is an asset. The dollar that it cost to but one 7 or 8 years ago is still a dollar. But the Bitcoin is now worth 8 or 9 grand. Assets are what make people wealthy.
Money in a bank account is an asset of course. But that same money in XRP or Bitcoin is an even bigger one.
#7 Long-Term Views
Part of developing a winning mindset is to take a long term view of things. Don’t ignore the present and fix things that are going wrong but do not panic is the short term.
If you stock drops 3% in a day. The short term view would be to panic and cut your losses. The long term view would be to understand why the drop happened and then make a decision for the long term.
Another way to use this long term view is with how you collect your assets. Using the Bitcoin example again. If you got in early in the game.
You would have had to hold onto a worthless piece of digital currency for years before it was really worth anything.
Many people took a short term view and dumped their Bitcoin for nothing. Ask the Bitcoin pizza guy how that short-term view worked out for him.
#8 No Excuses
You will fail. How you react determines where you go from there. Will you make excuses or will you learn from your mistakes in not make them again.
No excuses do not mean you can never admit when you are wrong. If you join a company that turns out to be no good, get out.
You are not making excuses you are learning from your mistakes. That is one of the most important this you need to learn when trying to adjust your min to a wealthy mindset.
Changing direction and moving on to something better is not an excuse, although many lesser minds will look at it that way. No, admitting you were wrong and trying again is the way to deal with failures.
Wrapping it Up
It is not all about mindset. That feels like a copout. An excuse that people sometimes use to belittle hard-working people who just have not managed to put it all together yet. But it does play a big role.
You have to visualize yourself as wealthy, think like a rich person to be able to really attain that level of wealth and more importantly maintain that level of wealth.
History is littered with lottery winners who are now broke. Because they did not have a rich mindset. They had money and then they bought things.
But that is not a rich mindset. That is someone with a scarcity mindset and a lot of money. A dangerous combination.
So change the way you think and then you can start building your success in a real and sustainable way.
Be sure to check out our Total Money Magnetism Review to see if it might help you change your way of thinking to a wealthy mindset. You can read it here.
Thanks for visiting and have a wonderful day.