Tom Corley spent 5 years interviewing 233 millionaires—here are the 6 habits that made them ultra wealthy

Riches are not acquired by accident. Hard work, courage, and a growing mentality are required

Riches are not acquired by accident. Hard work, courage, and a growing mentality are required.

 

I spent five years examining the routines of 233 billionaires, 177 of whom were self-made, to determine how they spend their free time. In my investigation, I found six ideas they all had in common that contributed to their financial success.

 

The best part is that anyone can put ideas into practice and begin taking steps to become a billionaire.

 

1. Millionaire self-made people are lifelong learners.

Learning new things and working on oneself were extremely important to the millionaires I spoke with.

 

49 percent said they spent a few minutes each day learning new terms, and 61 percent said they spent at least two hours each day honing new skills (such as through sports or online classes). Moreover, 63% of people claimed they listened to audiobooks while driving to and from work.

 

Self-help books are frequently read, according to 71% of people. They were drawn to biographies of accomplished persons in large numbers.

 

2. Millionaires who made it on their own listen more than they speak.

During my interviews, the "5:1 listening rule" was one tactic that was frequently mentioned.

 

In conversations, the millionaires listened for five minutes for every minute they spoke. This improved their working relationships and provided them with a variety of viewpoints on a particular problem.

 

And 81% of those surveyed said they consistently asked for feedback from people both inside and outside of their place of employment.

 

3. Self-made millionaires create outstanding teams.

86% of self-made billionaires in my survey put in at least 50 hours a week on average. But they didn't work on their own. Many people were successful as a result of concentrating on their strong points and finding a means to outsource their deficiencies.

 

They allocated tasks to experts if they lacked the necessary expertise so they could concentrate on the wider picture and have more time and mental energy for execution.

 

They were able to accomplish their aims by surrounding themselves with others who shared their vision.

 

4. Rich self-made people have lofty aspirations.

My research found that many millionaires employed a technique I term "Dream-Setting." They sat down and sketched up what their perfect life would be like in ten years.

 

One of the millionaires in my study loved wine and believed he could make a fortune by investing in it. Even though his family and friends doubted his ability, he persisted.

 

He worked in the business for 15 years, becoming an authority. He sold off a small portion of his wine collection in 2001, which enabled him to finance the purchase of his ideal beachfront Florida property.

 

Because he persisted in his belief in an idea, he was able to make $4 million.

 

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Here are the six behaviors that made the 233 millionaires I interviewed within a 5-year period extremely affluent.

Published on Sunday, October 9 20229:54 AM EDT and updated on Sunday, October 9 20229:59 AM EDT

Contributor Tom Corley @RICHHABITS

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Riches are not acquired by accident. Hard work, courage, and a growing mentality are required.

 

I spent five years examining the routines of 233 billionaires, 177 of whom were self-made, to determine how they spend their free time. In my investigation, I found six ideas they all had in common that contributed to their financial success.

 

 

The best part is that anyone can put ideas into practice and begin taking steps to become a billionaire.

 

1. Millionaire self-made people are lifelong learners.

Learning new things and working on oneself were extremely important to the millionaires I spoke with.

 

49 percent said they spent a few minutes each day learning new terms, and 61 percent said they spent at least two hours each day honing new skills (such as through sports or online classes). Moreover, 63% of people claimed they listened to audiobooks while driving to and from work.

 

Self-help books are frequently read, according to 71% of people. They were drawn to biographies of accomplished persons in large numbers.

 

2. Millionaires who made it on their own listen more than they speak.

During my interviews, the "5:1 listening rule" was one tactic that was frequently mentioned.

 

In conversations, the millionaires listened for five minutes for every minute they spoke. This improved their working relationships and provided them with a variety of viewpoints on a particular problem.

 

And 81% of those surveyed said they consistently asked for feedback from people both inside and outside of their place of employment.

 

3. Self-made millionaires create outstanding teams.

86% of self-made billionaires in my survey put in at least 50 hours a week on average. But they didn't work on their own. Many people were successful as a result of concentrating on their strong points and finding a means to outsource their deficiencies.

 

They allocated tasks to experts if they lacked the necessary expertise so they could concentrate on the wider picture and have more time and mental energy for execution.

 

They were able to accomplish their aims by surrounding themselves with others who shared their vision.

 

4. Rich self-made people have lofty aspirations.

My research found that many millionaires employed a technique I term "Dream-Setting." They sat down and sketched up what their perfect life would be like in ten years.

 

One of the millionaires in my study loved wine and believed he could make a fortune by investing in it. Even though his family and friends doubted his ability, he persisted.

 

He worked in the business for 15 years, becoming an authority. He sold off a small portion of his wine collection in 2001, which enabled him to finance the purchase of his ideal beachfront Florida property.

 

Because he persisted in his belief in an idea, he was able to make $4 million.

 

5. Self-made millionaires place a premium on their wellbeing.

Longevity is a direct result of good health, and more time equals more opportunity to accumulate riches.

 

One millionaire spent a long period struggling with her weight. She determined to walk a mile every day one day. She started with one mile, then climbed to two, then three.

 

She had completed three marathons by the time I spoke with her. She credited these small physical milestones that changed her life with giving her the energy, focus, and determination to achieve.

 

6. Millionaire self-made people create their own luck.

In my study, a staggering 94% of billionaires claimed they never gambled, so I'm not referring to the kind of luck you could find in Las Vegas.

 

In this view, taking a chance on something new rather than chance is what constitutes luck. A common trait among many millionaires was their capacity to perceive what others couldn't and to devise original solutions and alternative paths to success.

 

Ultimately, those who don't give up on their dreams and goals find opportunities, and luck eventually finds them.


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