Habits Of The Wealthy – How much wealth is controlled by millionaires all across the globe? The number is pretty surprising and unimaginable. 173.3 trillion dollars according to Credit-Suisse. The US GDP is almost 21 trillion dollars. That’s like more than 8 the United States combined. If you can’t get your head around it, listen to this. 83.9% of the world’s wealth is owned by the top 10% richest people. That shows how unequal the world is. Despite all the technological advancements that we have made, the vast majority of the world’s population still lives pretty poorly, and only a tiny percentage enjoys all the pleasures that life has to offer.
Because the bottom half of the wealth pyramid manages 1.4% of global wealth. While these numbers seem absurd, the reality is that equality is impossible to achieve because, at the end of the day, you cant reward two people equally where one works hard while the other doesn’t.
Of course, other factors play an important role such as luck, talent, and so on. However, being at the top of the wealth primed requires a lot of luck, and that’s not what I think. If you ask any billionaire, that’s what they will tell you. Take, an example, tech billionaires.
Back in the 1990s and 2000s, there were thousands of tech companies and only a few of them survived and made it to the top and it wasn’t because they were smarter or worked harder but rather because their ideas matched with the future of tech or they found an investor before the 2000s crash as amazon did. No one knew when this crash will happen or how exactly the future of the internet would look like.
As they say, “Luck is what happens when preparation meets opportunity.”
However, you don’t have to be a billionaire to experience life’s greatest pleasures. It takes way less than that. But even earning or, most importantly, saving a million dollars takes an effort, especially if it’s your first million dollars. It takes years of commitment and dedication. But people still keep looking for shortcuts.
The good news is that there are shortcuts, they are called productive habits because they are not difficult to develop, but they will certainly lead you to financial independence. But why do we want to become financially free?
What is the ultimate goal?
The answer should be obvious. Making money for the sake of money isn’t smart. It can be fun, but most people find meaning in making the world a better place or building a loving family or creating products or services that make our lives better. So eventually, we want to become financially free to have the time to do what we want. That’s why it’s extremely important to be as productive as possible, because the more productive you are, the more time you are going to have since you are taking the best possible advantage out of every passing out.
So here are 5 productivity habits that I follow, and you should too if you are serious about becoming financially independent. But before we do that, make sure to give this video a thumbs up, and let’s start with the first one.
5 Habits Of The Wealthy In 2022 And Never Work Again
1. Mental Toughness
A wise man once said: it’s not about what happens to you, but rather it’s about you react to it. It sounds a bit vague, but there is truth to it. It’s probably one of the best pieces of advice I have ever received. What’s operates as a successful person from a non-successful person is that one has the mental toughness to put his mind and do things that are tough instead of just giving up and saying that I don’t feel like doing that.
Have you heard that you need 10,000 hours to Master something? On your way to Master any craft, you’re going to get bored, you’re going to get tired, you’re going to get exhausted. The people who are going to make it to the end are the ones who have the mental toughness to keep moving no matter what!
Mental toughness is more like a habit. If you quit once, it is going to turn into a habit, so whatever you do, you keep quitting on your way. Haven’t you seen people who jump from one thing to another trying one thing for a few months it doesn’t work, the excitement goes away, so they move to another thing and they do that for a few months and they say that it’s not for them so they move to a third thing, and then they find themselves too old.
What do you want to develop in yourself is this mentality that it is not about what happens around you but how you look at it Jordan Peterson says life is a misery it is always going to throw at you all sorts of problems.
It’s unpredictable, and everything is possible. You might end up losing your job. You can end in the streets. The closest people will leave you, and the challenge is to have the mental toughness not to break down and keep moving.
2. Learn how to delegate
What most people realize too late is that they cant go far alone. There is just so much time and energy you have in a day. You can’t chop yourself in half and do the job of two people, leave alone the job of a hundred people. But at the same time, great things are usually done by more than 1 person. We all know that Steve Jobs was behind the success of Apple, but if you take a look at what happened, it was Johny I’ve who came to jobs with the idea of touch screen and if it wasn’t for the entire team of designers at Apple, iPhone would have never come to be.
The point is, the more you want to achieve, the bigger the team you need. that’s why you need to master the art of delegation. Anything that can be done by someone else should be delegated because you should only focus on the creative part that no one else can do. If you can even delegate the creative part as well.
Then congrats! You have built an amazing business that works without you! It’s a dream come true! It’s the ultimate level of financial independence.
3. Being able to accept criticism
Everyone likes when people praise them. It makes you feel great, special and you love the people who praise you. But the problem with praising is that it doesn’t necessarily help except give you a momentary great feeling. Don’t get me wrong, it’s great to be praised, but what is better is when people criticize you because that’s when you know your flows and when you know your flows, you know how to fix them and get better.
While when you are praised, you don’t get to know what you should be working on.
If I ask my friends what they think about it, if one of them would tell me it’s great, I am going to post it the way it is, while when the other would say that the audio, for example, could be better or this or that part is unnecessary, then I can fix it and improve the quality of the video which means you are going to enjoy it more, which means the youtube is going to promote it more often and so on.
The only problem is that most people hate criticism, and they get angry when you tell them what they are doing wrong. So if you want to become financially free, learn how to see the value of criticism. Make it a habit to be comfortable when you are being criticized. Don’t ever get emotional and try to look at it from the perspective of the person that’s criticizing you.
Its always great to have people around you who support you, a family whom you can turn to when in trouble, friends who are always there to be beside you but the reality of life is that you cant always rely on people, and that’s not because people are bad but because they have their own lives and responsibilities. Human relationships are complicated because we humans are emotional creatures. People can be friends for years and stop talking to each other because of a single bad incident, so you don’t want to let your fate be in the hands of luck.
You want to make sure that no matter what happens, you can always walk away and you don’t need anyone in this life. You can always rely on yourself. That doesn’t mean you should be alone or lonely, but everyone, especially you, should know that you can easily rely on yourself on everything. That’s the most powerful trait you can ever develop. When people know that you are self-reliant, you become more attractive. People would want to be with you because self-reliance is too seductive.
5. Always remember that time is the only thing you can never have more.
The entire point of productivity is to save time because time is your most valuable resource. People often say that time is money, but the truth is that time is not money because money can be earned back, but when your time is gone, it’s gone! and you can never do anything about it again.
This is not something surprising! we all know this, but the problem is that we always forget this fact, that’s why we end up wasting so much time. Set a reminder, stick somewhere on the wall, change your phone wallpaper where it constantly reminds you that time is running. That doesn’t mean you should constantly be worried about it, especially when you are on vacation or having a good time with family or friends. Whoever you are having a great time with, you should not check the time because living at the moment is far more important.