This is the No. 1 habit self-made millionaires share—and it’s also the most overlooked, says money expert
S E E D E D C O N T E N T
Photo: Getty Images
There are a handful of things that separate the ultra rich from everyone else: research has shown they tend to exercise regularly , maintain a healthy diet , save 10% or more of their income , read books and manage their time wisely .
But the most important — and most overlooked — habit they share that helped them grow their wealth, in large part, is their commitment to forge valuable relationships with individuals they aspire to be: positive, success-minded folks.
You are who you associate yourself with
That’s what I discovered through my “Rich Habits” study, in which I spent five years interviewing and researching the daily activities, habits and traits of 233 wealthy individuals (with at least $160,000 in annual gross income and $3.2 million in net assets) and 128 low-income individuals (with at least $35,000 in annual gross income and $5,000 in liquid assets).
It’s human nature to associate ourselves with like-minded people with whom we feel the most comfortable. The ultra wealthy and successful, however, are a lot more selective when it comes to who they allow into their inner circle.
Nearly all of the self-made millionaires I interviewed said one of their top priorities was cultivating “rich relationships” and avoiding the “toxic” ones.
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There are a handful of things that separate the ultra rich from everyone else: research has shown they tend to exercise regularly , maintain a healthy diet , save 10% or more of their income , read books and manage their time wisely .
And they’re really much of the time fucking assholes to the max, so it seems to work so well I’m considering that strategy myself.
You Are Who You Associate Yourself With
That’s what I discovered through my “Rich Habits” study, in which I spent five years interviewing and researching the daily activities, habits and traits of 233 wealthy individuals (with at least $160,000 in annual gross income and $3.2 million in net assets) and 128 low-income individuals (with at least $35,000 in annual gross income and $5,000 in liquid assets).
It’s human nature to associate ourselves with like-minded people with whom we feel the most comfortable. The ultra wealthy and successful, however, are a lot more selective when it comes to who they allow into their inner circle.
Nearly all of the self-made millionaires I interviewed said one of their top priorities was cultivating “rich relationships” and avoiding the “toxic” ones.
Hmmm . . . "cultivating “rich relationships” and avoiding the “toxic” ones"..
Excellent idea!
But then the question becomes-- how does one do that?
It's easy to figure out who has a crappy work ethic, who expects something for nothing, and to avoid those people. I have found that avoiding melodramatic people and negative people is another must for me.
Finding ultra wealthy people to hang out with is more challenging, though. I can't afford the membership fees of the places where they hang out!
For the most part that's quite true.
However there are ways...
For a while now I've been thinking of starting a business. And then I thought that, since I could probably figure out what type of clients I'd like to attract-- why not attract wealthy ones (so I could charge higher fees for my services-- and get satisfied clients!).
I did a lot of research-- and came up with the single most effective aid I could find.
This is not the single best book I've ever read on any subject-- but its by far the best I've read on this subject! (And I've read many...)
If you want to put in a bit of work, I recommend it highly!!!
How to meet the Rich: For Business, Friendship, or Romance
BTW its amazingly thorough-- it mentions that there are several "types" of wealthy people-- not merely the "Old Money" and "Nouveau Riche" most people think of. Each has different characteristics. And many tips-- how to dress for success when working with each type, etc, etc.
And especially useful-- it does list expensive places to hang out-- but also quite reasonable places as well.
Stay away from malcontents.
Good advice!
(I actually have been thinking of quitting social media sites-- or at least spending much less time on them)
Interesting photo. It isnt close to being the way a golfer would hold a golf club, or stand before a shot, but maybe their million dollars is good consolation for their ineptness on the golf course.
Especially given she is on a putting practice green.
True, but the grip and the feet placement is wrong as well.
Well, she's a lefty, wearing the wrong glove (should be on right hand for a lefty) her belt buckle is facing (?) the direction of her shot with a nine iron on the putting green with two flags, her hair is blowing the opposite direction of the flags. Other than that - well, maybe she's actually the caddyess.
There is separation between her hands. I've never seen an actual golfer grip a club like that. A model might though.
She's supposedly right handed in the shot. If she were left handed the right hand would be below the left on the club.
KRISH - PLEASE DELETE OFF TOPIC GOLF COMMENTS IF IT SUITS YOU
Grip, feet, posture and elbows ... Looks like a non-golfer model. Very strange.
To tell you the truth, she looks like she is getting ready to swing the golf club like a baseball bat.
Maybe she is just stretching.
No. I'd rather leave them.
It is interesting to me to see how people react to this article!
Interesting photo. It isnt close to being the way a golfer would hold a golf club, or stand before a shot, but maybe their million dollars is good consolation for their ineptness on the golf course.
Good point!
That obviously invalidates the entire article!
/sarc
The concept makes a lot of sense. If you have a small business you want to meet the wealthy. They usually pay well and also refer you to their friends and business associates.
I have always avoided toxic people, they are draining !
Incidentally I have also heard advice about the people to seek out.
Of course positive people are great.c.
However I have heard this bit of advice from more than one wealthy (and & highly successful) person:
Always try to surround yourself with a least a few people who are smarter than you are!
I usually find I'm in a mix of people, I like that.
I like a mix as well.
I have learned a lot from various types of people.
But IMO it pays to have at least one or two that are really smart.