How Self-Made Millionaires Create Financial Success
You become what you think about most of the time. If you sincerely want to be rich, to achieve all your financial goals and to retire as a self-made millionaire, one of the smartest things you can do is to develop the habits of thinking and acting that have enabled hundreds of thousands, and even millions of other people to become self-made millionaires. These habits of financial success are learnable, as all habits are, by practice and repetition.
Your Thoughts Create Your Financial Success
The first discovery about the thinking patterns of self-made millionaires is that they have the habit of thinking in terms of financial independence most of the time. From an early age, or at a certain point in life, they become focused on achieving specific goals for financial success.
Self-made millionaires discipline themselves to make whatever sacrifices are necessary to achieve those financial goals. They organize and reorganize their entire financial lives, their earning, investing, insuring and spending activities, in such a way that they are all coordinated and helping them move toward hitting those specific financial targets.
How Self-Made Millionaires Set Financial Goals
Most people have the opposite habits as self-made millionaires with regard to money. Instead of setting financial goals and thinking in terms of accumulation, saving, and financial success, the majority of people think of spending and enjoying every penny they can get their hands on, and whatever else they can borrow from friends or put on credit cards. Learn the qualities of successful entrepreneurs and the keys to building a successful business of your own by getting my FREE Way To Wealth Report.
At a certain point in life, each person comes to a crossroads with their financial goals. One road leads in the direction of earning, saving and accumulating, while the other road leads in the direction of earning, spending and getting into debt. As a fully responsible adult, you must decide which road you are going to take. And no matter what road you have taken up until now, you are free to choose the road that you are going to follow from this day forward.
Take Charge of Your Financial Life
The starting point of achieving financial success and joining the self-made millionaires club is for you to accept complete responsibility for your financial life. Many people never do this. They instead do not set financial goals, they go through their days, and their money, trusting to luck, with the idea that somehow, sometime, someone else will come to the rescue. They do not set financial goals, instead they buy lottery tickets, gamble and think about making a killing in the stock market. And they worry about money all the time. The fact is that financial success and serious money is long-term money.
Most self-made millionaires organize their financial goals and financial lives in such a way that their net worth increases about 8-10% per year on the amount of money that they have working. They set financial goals and do not look for get-rich- quick schemes or easy money. They are patient, persistent and farsighted. They discipline themselves to save and accumulate money over many years. They do not speculate, take risks, or look for fast ways to make money quickly and easily. As a result of these habitual ways of thinking about their money, each year their wealth grows. Eventually they pass the million-dollar mark, and usually keep on going.
Develop A Self-Made Millionaire Mindset
When you become the kind of person who can set financial goals and accumulate a million dollars or more, you will also be the kind of person who can earn the second and third million as well. Even if something unfortunate happened, and you lost all your money, you would be able to make it back again fairly quickly because you would have become the kind of person who can become a millionaire. And once you become that kind of person, you never lose it.
Self-made millionaires did not gain financial success merely by luck. In order to become a self-made millionaire, you must set financial goals and work toward achieving financial success every day.
« Previous Post Next Post »
About Brian Tracy — Brian is recognized as the top sales training and personal success authority in the world today. He has authored more than 60 books and has produced more than 500 audio and video learning programs on sales, management, business success and personal development, including worldwide bestseller The Psychology of Achievement. Brian's goal is to help you achieve your personal and business goals faster and easier than you ever imagined. You can follow him on Google+, Twitter, Facebook, Pinterest, Linkedin and Youtube.