{"id":3034,"date":"2018-06-20T04:41:35","date_gmt":"2018-06-20T04:41:35","guid":{"rendered":"https:\/\/raizinvest.com.au\/investors\/5-habits-of-wealthy-people\/"},"modified":"2024-04-21T05:07:13","modified_gmt":"2024-04-21T05:07:13","slug":"5-habits-of-wealthy-people","status":"publish","type":"post","link":"https:\/\/raizinvest.com.au\/investors\/blog\/5-habits-of-wealthy-people\/","title":{"rendered":"5 Habits of Wealthy People"},"content":{"rendered":"
<\/figure>\n

\"\"<\/p>\n

By
\nPhil Usher<\/i><\/p>\n

The difference between rich and wealthy, is that getting rich is just
\nabout the accumulation of money. It can come and go, and if someone who\u2019s rich
\nloses their money, they may have trouble regaining that or rebuilding again.<\/p>\n

When we talk about building wealth, we generally think of
\nnumbers or how we can increase our income, how we can invest, or how we can
\nmake better decisions based on numbers. But wealthy people are also doing things that aren\u2019t numbers
\nfocused.<\/p>\n

History is full of lotto winners that end up broke in a
\nmatter of a few years after winning big, or sports people who are great at what
\nthey do but not so much with their money.<\/p>\n

But for wealthy people, it\u2019s very much a mindset. This blog will go through
\nfive things that wealthy people do on a regular basis that make them
\nfinancially successful. Of course this isn\u2019t a \u201cevery millionaire does this\u201d or
\n\u201cdo these things for guaranteed wealth\u201d, it\u2019s more a look into consistent
\nbehaviours of the most successful and wealthy people.<\/p>\n

 <\/p>\n

1.
\n<\/b>Exercise<\/b><\/p>\n

First up is that they exercise. Generally they\u2019re exercising
\nfor at least 30 minutes a day, and they\u2019re doing that around four days per
\nweek. It\u2019s not a lot, it\u2019s not a huge commitment, but research shows that
\npeople who exercise have much better outcomes in terms of the way that they
\nthink, getting clarity in their life, and making decisions.<\/p>\n

There is tons of research out there on exercise. I\u2019ll let
\nyou see what you can find, but exercise is something that wealthy people do
\nconstantly.<\/p>\n

Richard Branson is notorious for kite surfing and jogging.
\nAnd billionaire owner of the Dallas Mavericks, Mark Cuban says he does 1 hour
\nof cardio 6 or 7 days per week!<\/p>\n

 <\/p>\n

2.
\n<\/b>Read<\/b><\/p>\n

Wealthy people read. A lot of research has come out saying
\nthat CEOs, top-level CEOs, are reading on average 60 books per year. 60 books
\ncompared to about one or two that everyone else reads.<\/p>\n

The information that you get from books is unbelievable. It\u2019s
\nsomething that you can\u2019t access anywhere. The dense information that you can
\nget in your ear through audio books is also an efficient use of time! You can
\nread for half an hour per day while your exercising. That\u2019s health and wealth
\nin one hit! And I\u2019m not necessarily just talking about fiction books either,
\nit\u2019s non-fiction and ways that you can learn to improve your thinking. Do a
\nhealthy mix between the two.<\/p>\n

Bill Gates says that he reads 50 books per year and Warren
\nBuffet says he reads 5 to 6 hours per day!<\/p>\n

 <\/p>\n

3.
\n<\/b>Network.<\/b><\/p>\n

A lot of people say that your network is your net worth.
\nThat means that you\u2019re getting exposed to other people and it opens the doors
\nfor many other opportunities. You\u2019re not going to be able to build your wealth
\njust by sitting in your back room and keeping to yourself. You\u2019ve got to get
\nout there, you\u2019ve got to get to events, you\u2019ve got to talk people.<\/p>\n

Some of my biggest sales have come from just going to a
\nnetworking event, exchanging my card, having some food, and having a beer with
\na decision maker. Prior to that, I\u2019ve tried cold calling or I\u2019ve tried dropping
\nin and they\u2019re always too busy, but when you get face to face with someone, and
\nthey can see what you\u2019re like as a person, that\u2019s when the opportunities can
\nreally start to open up. So, get out there and start networking.<\/p>\n

 <\/p>\n

4.
\n<\/b>Mentors<\/b><\/p>\n

Arnold Schwarzenegger says in his book, \u201cThere\u2019s no one
\nthat is self-made.\u201d Everyone has mentors, everyone has guides, everyone
\nhas coaches, advisors. Find your mentors, find people who\u2019ve been there and
\ndone that with that experience.<\/p>\n

It doesn\u2019t necessarily have to be face to face, that\u2019s
\nideal, but I understand that it can be limiting. For me growing up, I had my
\nfather as a mentor, but looking beyond that, in terms of building wealth, I
\nturned to books.<\/p>\n

Having those books, having those people that have built billion
\ndollar fortunes, and seeing what decisions they make and how they operate, is
\nwhat I\u2019ve used as mentoring as well.<\/p>\n

Ask business owners or investors you look up to. But don\u2019t
\ncome out and ask \u2018hey can you be my mentor?\u2019 Play it cool. Go for coffee and
\nfollow up with a few emails.<\/p>\n

 <\/p>\n

5.
\n<\/b>Gratitude <\/b><\/p>\n

Wealthy people practice gratitude every day. There\u2019s nothing
\nworse than thinking and comparing yourself to others and saying how far you are
\nbehind. Instead of saying I don\u2019t have this, be grateful for what you do have.
\nThere are plenty of people out there who believe that you are living a version
\nof their best life.<\/p>\n

So if you\u2019re getting sick and tired of going to work, rather
\nthan waking up and saying, \u201cI have to go to work today,\u201d wake up and
\nsay, \u201c I get to go to work today,\u201d because there are plenty of people
\nwho are out there struggling that don\u2019t have employment who would like to be in
\nyour opportunity and take advantage of what you have.<\/p>\n

So, practice some gratitude. It changes that way you think,
\nyou become a lot more satisfied with life, so you\u2019re not out there chasing the
\nmaterial things. Instead, you\u2019re starting to chase what feeling gratitude allows
\nyou to become.<\/p>\n

By building your mindset, this is the muscle that you need
\nto raise your wealth. Once you\u2019re able to start to doing that, and hone that,
\nthen the money part will become easier. It\u2019s probably 80% mindset and 20%
\nprocess, so by working on your mindset, this will go a long way towards raising
\nyour wealth.<\/p>\n

 <\/p>\n

\n

 <\/p>\n

Don\u2019t have the Raiz App?<\/strong><\/h3>\n

Download it for free in the App store or the Webapp below:<\/p>\n

\n
\"download-raiz-app\"<\/a>
Click to download the Raiz app<\/a><\/figcaption><\/figure>\n

 <\/figure>\n

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Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Phil Usher The difference between rich and wealthy, is that getting rich is just about the accumulation of money. It can come and go, and if someone who\u2019s rich loses their money, they may have trouble regaining that or rebuilding again. When we talk about building wealth, we generally think of numbers or how […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[59,58,60],"yst_prominent_words":[272,274,273,98,277,271,151,224,245,270,313,97,82,117,166,125,239,276,275,269]}