5 HABITS THAT KEEP THE RICH ON TOP
A millionaire US stock trader shares what it takes to become truly successful
If you want to become a millionaire, study the habits of people who have already made their millions. Here’s what millionaires do to stay on top of their game:
1 Millionaires work hard
A lot of people think winning the lottery is their ticket to success, but I’ve got bad news for them. Nearly 90% of lottery winners go through their winnings in five years or less, leaving them back in the situation they were in before they won.
Millionaires know there are no short cuts to success – only hard work executed relentlessly in pursuit of a goal.
It was up to me to put in the hours needed to become successful. There were plenty of times I would have rather gone out with friends or played video games – anything but sit in front of the computer and study stock charts for another hour.
But I did it. I put in that difficult work upfront because I knew the results would be worth it, and they have paid off.
I’m now living my dream lifestyle because I wasn’t afraid to work hard.
2 Millionaires are focused
That said, it isn’t just about working hard. You have to be working hard on the right thing.
Have you ever known somebody who’s constantly jumping from one “million-dollar idea” to another? We all want to be rich, but the people who can’t choose one path to focus on simply aren’t going to achieve it.
It’s the people who dedicate themselves to a single pursuit who come out on top, whether that one path is penny stock trading, company building or something else.
3 Millionaires are careful
Whatever wealth-building approach you take, you’ve got to keep your risk in check. It’s not that you shouldn’t take risks, but the risks you take should be calculated.
If there’s more risk than there is reward, stay away. But if there’s more potential for reward than there is risk of loss, you may be looking at a great opportunity and should take it with both hands.
4 Millionaires are generous
Take a lesson from generous billionaires such as Bill Gates, Warren Buffett, Carl Icahn and Ken Langone.
Being generous with money can feel just as good (if not better) than earning it, and it makes people respect you as a person, trust you more and want to do business with you.
5 Millionaires keep learning
This is such a big one. Millionaires love to learn because they’re always looking for ways to expand their skills and get ahead in their fields.
They read books, watch documentaries, study educational materials and talk to others who can give them more information.
Millionaires know that knowledge is power, and they stop at nothing to get it.
No matter what your net worth is right now, you can put this tip into practice today.
If you’re learning to trade penny stocks, you can watch videos, read Securities and Exchange Commission statements, study stock charts or learn from others in industry chatrooms.
You can do all of these things for free, but the value of what you learn will be worth so much more in the long run.
Which of these useful habits could you add to your life?
Commit today to making at least one change that will put you on the path to becoming a millionaire.
RICHLY REWARDED Warren Buffett (left) and Bill Gates are respected philanthropists