If building large amounts of wealth was easy, then almost anyone could do it.
However, we know that only 6.4% of American adult population are millionaires, and the reality is that not all of those are self-made.
What habits and practices helped this elite group in accumulating large amounts of wealth, and how can we apply these to our own careers to become more financially independent?
Copying the Habits of Millionaires
Today’s infographic from StocksToTrade.com skips the silver bullets and “get rich quick” tricks to show the real habits of millionaires that have led to wealth accumulation over time.
Many of these habits are not particularly glamorous, but remain essential for the long-term success of entrepreneurs and investors. They tend to fall in categories such as: hard work, persistence, passion, acquiring self-knowledge, associating with the right people, and staying healthy.
Here are the most important statistics to consider:
- 88% of the rich devote 30 minutes or more each day to self-education or self-improvement.
- 76% of the rich aerobically exercise for 30 minutes or more, every day.
- 86% of the rich who liked what they did for work made $3.4 million in 32 years
- 7% who loved what they did made $7.4 million in 12 years.
- 92% of rich say good luck had nothing at all to do with their wealth. They just never gave up.
- 88% of millionaires believe relationships are critical to financial success.
- 94% of wealthy individuals read current events every day.
- 88% of the rich people say that saving money was incredibly important to their success.
- 93% of the self-made millionaires attributed their wealth to their mentors’ help.
- 86% of wealthy, successful people associate with other success-minded people.
- 79% of the rich read educational, career-related material.
In other words, it’s not a simple idea or plain old luck that leads to success.
The stats above show it is the daily habits and practices that count in the long run.
Article by Jeff Desjardins, Visual Capitalist