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Survey Says: 6 Habits of the Ultra Wealthy

CNBC Make It | Tom Corley | Oct 9, 2022

The harder I work the luckier I get - Survey Says:  6 Habits of the Ultra WealthyStriking it rich is not a fluke. It takes hard work, fearlessness and a growth mindset.

  • Source:  I spent five years studying the habits of 233 millionaires — 177 of them were self-made — to find out how they make use of their time. Based on my research, I identified six principles they all shared that helped them build wealth. The best part is that anyone can implement these and start working towards becoming a millionaire.
  • Constantly learning:  For the millionaires I interviewed, learning and self-improvement were top priorities.
    • Forty-nine percent reported that they took a few minutes every day to learn new words, and 61% shared that they practiced new skills (i.e., a sport or online class) for a minimum of two hours a day. Another 63% said they listened to audiobooks during their work commutes.  71% said they often read self-help books. Many of them gravitated towards biographies of successful people.
  • Listen more than they talk:  One strategy that came up many times during my interviews was the "5:1 listening rule."
    • And 81% said that they actively sought feedback from others every day, both inside and outside of the workplace.

See:  Meta-analysis shows Emotional intelligence is more important for being a successful entrepreneur than mental ability

  • Built great teams:  Surrounding themselves with people who shared their vision made it possible to go the distance with their goals.
    • Many succeeded because they focused on their strengths and figured out a way to outsource their weaknesses.  If they did not possess a particular skill, they delegated to someone who was great at it, so they could focus on the bigger picture and have more time and mental energy to execute it.
  • Dream BIG:  They sat down and wrote out what their ideal, perfect life looked like 10 years into the future.
  • Prioritize health:  Good health translates into longevity, which means more time to create more wealth.
  • Make their own luck:  Ultimately, persistence creates opportunities, and luck eventually comes to those who refuse to quit on their dreams and goals.

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NCFA Jan 2018 resize - Survey Says:  6 Habits of the Ultra WealthyThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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