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From owning a jet to buying exquisite diamonds, we all have daydreamed about getting rich at least once in our life. Your definition of wealth may differ from that of another person, but we all want a luxurious and comfortable life with all the riches in the world.
Some of us want to get on the Forbes list of ‘the top richest people’, while some of us want to acquire an island of our own. Well, the sky’s the limit!
Especially when you are stuck in financial debt or the never-ending cycle of earning-spending-broke, you always wish that there was some easy way to get rich and get away from the miseries of life. We always think about getting rich and the fantasies that would come alive, but we hardly wonder what is it that the rich are doing differently than us? Hmm, have you thought about it?
So, now that you are all ears to know the ‘rich secret’, let’s take a look at the 5 common traits of rich people.
1. Books are their closest allies.
Bill Gates, Elon Musk, Oprah Winfrey, Warren Buffet- what is the one thing common in all these personalities apart from their vast pool of wealth? Well, the answer is that books are their best friend.
Bill Gates, the founder of Microsoft, reads at least 50 books every year. That means one book per week on an average!
Warren Buffett spends 80 percent of his time reading books. Elon Musk, the real-life ‘Iron Man’, has credited the success of SpaceX to the books he read about rocket science.
Reading does not mean reading just for pleasure. It’s also equally important to note what are the rich people reading about. Books on self-help, motivation, non-fiction, and literature that expands your thinking is what you should be reading if you want to get rich. So, how about you take out that book from your shelf and start reading?
2. Taking notes? Yes, Please!
Self-made billionaires like Bill Gates and Richard Branson claim that the habit of taking notes has helped them to shape their thoughts and ideas. Jotting down ideas or any insight or observation that you come across in your daily life is a habit which would evolve your thought process.
Successful inventors and entrepreneurs don’t come up with brilliant ideas immediately. They train their minds to constantly pick up something from the environment around them.
Therefore, taking notes is a practice that you can adapt to train your mind.
Who knows, what you scribbled on a page yesterday can inspire you to make an innovation for tomorrow!
3. Not one, but multiple sources of income.
This is one habit that all the rich people would swear by. Any wealthy person, no matter what their profession is or how much they earn, always creates wealth from multiple sources. You might have thought that if you earn more, you’ll become rich, or you get that high-paying job or that promotion in your company, all your dreams to become rich would come true. Sorry to burst the bubble, but that’s not the case.
So, how can you make money from sources other than your job? Well, here’s how the rich do it …
Stocks and shares
Build an empire by investing in stocks and shares. Rich people invest their money wisely in stocks that would guarantee gains in long-term rather than risky shares which come with high gain for a short period. A consistent and steady investment which pays a generous amount of dividend can help you build a large store of wealth.
Starting a business
How come most of the wealthy people are entrepreneurs or businessman? Bill Gates, Warren Buffett, Mark Zuckerberg, you name it. Well, it won’t be far-fetched to say that a business yields more profit than any other profession. If you have something to offer the market which would satisfy its demand, then my friend, you should start a business. It can be something as small as a paper clip, or something as huge as an automobile business. A business takes a long time to flourish and establish in the market. But, the rewards and fortunes you earn from it pave your way to become wealthy.
Making money from hobbies
How about not only enjoying your hobbies, but also making money out of it? It can be writing, clicking pictures, cooking or probably trekking.
Sounds fantastic, isn’t it? Well, to monetize your hobbies, train yourself to become an expert. So, for example, if you love trekking and wish to make an income out of it, then do a course in mountaineering, get certified and organize weekend trips for amateur trekkers. Wealthy people use their leisure activities to get the money flowing in their accounts.
4. Fall, learn and grow again
Do you know a single person who has never committed any mistake in his life? Obviously, no. Even the most successful people on this planet have done major mistakes in their careers. But what makes them successful from the rest? They treat their mistakes as lessons. Steve Jobs, the founder and CEO of Apple, was ousted from his company. But he didn’t let this failure define his life. He learned from his mistake, changed his leadership approach, returned to Apple and led the way to the most successful Apple products till date- iPhone and iPod. So, the next time you make a mistake, learn and grow from it again.
5. Stay simple, silly
Warren Buffett, the CEO and chairman of Berkshire Hathaway, having net worth of $ 46 billion, still prefers living in a house of $ 31,500 that he bought 50 years ago. Tim Cook, the CEO of Apple chooses to live a modest life as well. Quoted from the book ‘Inside Apple’, Cook said, “I like to be reminded of where I come from, and putting myself in modest surroundings helps me do that. Money is not a motivator for me.” Being wealthy doesn’t mean splurging your money extravagantly. It also means staying close to your roots and being humble.
It takes a lot of hard work and effort to become rich. But it’s not something impossible if you have the right vision, good habits, strong will power, and firm determination. Money follows excellence and consistent hard work.
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