Do you want to become a millionaire, or even a multi-millionaire? Then you first need to have the mindset and habits of a millionaire.
Entrepreneur and online marketing expert John Rampton says that having the right mindset can help you embark on the path to riches. Here are 24 signs that determine whether a person is destined to make big money. Take a look at what qualities you possess and which ones you may lack.
One of the most common traits among millionaires is that they started making money at a young age. For example, Mark Cuban was selling garbage bags door-to-door at the age of 12; Warren Buffett was selling chewing gum to neighbors at age 6; and Richard Branson was breeding and selling parrots at age 11.
If you had this entrepreneurial spirit from a young age, it indicates that you have always been seeking ways to make money.
Many millionaires are not content with small achievements but aim for “big wins” to continually achieve more.
It may not seem fair, but research confirms that more attractive people tend to earn higher incomes compared to average-looking individuals. Economist Eva Sierminska’s study suggests that employees with good looks earn up to 15% more than their less attractive counterparts. (Click
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Todd Campbell, author of “Your Guide to Better Stock Picks,” says, “Are you the type of person who takes action when you see an opportunity? If so, congratulations, because this action-oriented mindset is what can drive you towards financial freedom.”
Millionaires don’t wait around for the perfect moment to invest or start a business. Many of them realize that the best time to start making money is “now.” Waiting idly will only shatter your dreams.
While the wealthy excel at saving and making wise purchases, they also know that one of the best ways to earn more money is to invest a portion of what they earn.
When facing new ideas, the wealthy often maintain an open mind, not easily dismissing investment opportunities, and have the ability to think critically before taking significant actions.
A study found that “increasing popularity from the bottom 20% of high school students to the top 20% resulted in a wage premium of about 10% after 40 years.” In other words, having many friends in high school may give you a greater chance of earning more money in adulthood.
Another common trait among millionaires is their ability to live within their means. Many do not flaunt their wealth or spend hard-earned money on unnecessary luxury items.
The reality is that accumulating wealth generally takes a significant amount of time. Even for investing legend Buffett, more than 80% of his massive wealth was created after the age of 50.
Your success is influenced by the people you associate with. If you want to become wealthy, start socializing with millionaires. This not only keeps you motivated but also helps you find mentors willing to share their experiences with you. If you don’t personally know any millionaires, don’t hesitate to contact them via social media or email to start building relationships. You can also learn from successful individuals through their social media accounts and books.
Millionaires do not dwell on the “good old days.” They have overcome failures, rejections, and fears and always focus on the future.
Rich people take time to consider their long-term goals and needs. Entrepreneur Peter Voogd wrote, “You don’t accidentally make a million. You cannot achieve it without a goal.”
A 2006 study by Ohio State University on about 9,000 individuals found that divorce can reduce a person’s wealth by 77%, while marriage can nearly double a person’s wealth (93%). The wealth of divorcees starts decreasing even before the divorce judgment takes effect.
According to study author Jay Zagorsky, the wealth decline caused by divorce is more severe than merely splitting a couple’s assets in half. Similarly, married individuals see a greater increase in wealth compared to the combined assets of two single individuals. (Click
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The wealthy leverage their strengths and surround themselves with people who can compensate for their weaknesses.
Those capable of earning millions don’t often complain, blame others, or make excuses. Instead, they embrace challenges and find ways to overcome them.
According to a 2006 study, men who describe themselves as drinkers earn 21% more than nondrinkers, and women drinkers earn 8% more than nondrinkers. The reasons may be related to the view that drinking can enhance social capital. (Click
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However, according to a 2004 study, wealthy individuals seem to avoid smoking. Non-smokers surveyed often have a net worth about 50% higher than light smokers, and more than twice that of heavy smokers. (Click
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Worrying about others’ perceptions can cause you to retract. Therefore, strong mental toughness and thick skin are essential.
The most successful people in the world read the news early in the morning to make wiser investment decisions based on the latest information.
Renowned successful individuals and millionaires continuously read books and acquire new knowledge and skills to improve themselves.
Renowned author Robin Sharma said, “Greatness begins outside your comfort zone.” Stepping out of your comfortable “bubble” allows you to build resilience, enhance confidence, and experience and see things you never thought possible.
True wealth often comes with a sense of freedom. Millionaires usually are less concerned with fitting in and are more willing to express themselves authentically. They simply be themselves without trying to please anyone.
While millionaires work hard, they also know how to enjoy themselves. They can laugh at their mistakes, dust themselves off, and continue their mission with a smile.
They not only consider their financial security but also think about their family’s future. To build generational wealth, you must establish a financial foundation that can be passed down through generations. This may involve diversifying your investment portfolio, setting up trusts and wills, and providing financial education to heirs to ensure they can manage and grow their inheritance.
According to Forbes, millionaires have a different attitude towards money compared to the average person. They do not see money as something to hoard or fear losing but as a tool for creating opportunities and expanding wealth.
If you want to accumulate wealth in the rapidly changing year of 2025, adopting the mindset of a millionaire is crucial. The most significant shift you can make is to understand that financial success is not based solely on working harder but rather on thinking smarter.
Listed below are the millionaire mindset points mentioned in the report:
Millionaires view money as a tool, focusing on using money to grow wealth rather than just saving it. They invest in businesses, assets, and opportunities that create long-term financial stability. Moreover, they prioritize cash flow and make money work for them.
Millionaires focus on creating wealth, not just income. They don’t rely solely on salaries but establish multiple sources of income. The assets they create can provide returns long after their initial efforts, such as investments, real estate, digital products, or businesses. They understand that financial freedom comes from ownership and not just increasing working hours.
Millionaires invest unhesitatingly in personal and professional development. They invest in themselves through education, mentorship, and building relationships to enhance their skills continuously, stay at the forefront of trends, and surround themselves with high-value networks.
Millionaires prioritize cash flow and assets over short-term gains. They don’t chase quick wins or instant riches but focus on building sustainable wealth through long-term appreciating investments. Whether through stocks, real estate, or scalable business models, they ensure that money always serves them.
Millionaires are not afraid to price themselves based on their value and increase their worth. They understand that undervaluing oneself can lead to overwork and undervaluation. They confidently set high fees because they know value is based on outcomes rather than working hours. They don’t feel guilty about making money as they see financial success based on the impact they create.
This article represents the author’s viewpoints and opinions and is only intended for general informational purposes without any recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or other personal finance advice. The Epoch Times does not guarantee the accuracy or timeliness of the article content.