According to self-made millionaire Steve Siebold, almost anyone has what it takes to become a millionaire.
“Like most things in life, becoming good at attracting money is no different than becoming good at anything else, be it being a sub-par golfer, losing weight or mastering a second language,” he writes in “How Rich People Think. ”
And like most things in life, success doesn’t simply appear. If you want to become a millionaire, chances are, you’re going to have to make some lifestyle changes and sacrifices.
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“The masses’ major goal with money is to retire at 65 and hopefully have enough money to survive until they die,” Siebold writes. “The world class, while often no more ambitious, set their sights on impacting the world with their wealth.”
Don’t be afraid to think big, Siebold says. Ultimately, the average person has “everything they need to make more money than they can spend.” Start thinking, like the rich do, “If not you, then who?”
While wealthy people value the importance of saving and investing, they also recognize that the key to getting really, really rich is to focus on earning.
“The masses are so focused on clipping coupons and living frugally they miss major opportunities,” Siebold writes. “Even in the midst of a cash flow crisis, the rich reject the nickel-and-dime thinking of the masses. They are the masters of focusing their mental energy where it belongs: on the big money.”
Average people choose to get paid based on a steady salary or hourly rate, Siebold says. Meanwhile, rich people choose to get paid based on results and are typically self-employed.
“It’s not that there aren’t world-class performers who punch a time clock for a paycheck, but for most this is the slowest path to prosperity, promoted as the safest,” Siebold writes. “The great ones know self-employment is the fastest road to wealth.”
Money doesn’t simply appear. If you want to build wealth, you have to have a clear goal, specific plan and hard deadlines.
“The average person half-heartedly wants a lot of things,” Siebold writes. On the flip side, rich people “wholeheartedly focus on one major goal at a time” and “set a deadline for its achievement. This is how self-made millionaires are created.”
“The middle class is famous for living beyond their means, ” writes Siebold. “They’re not spendthrifts, but they earn so little they have to spend it all in order to live a decent existence.”
Rather than spending everything they earn, the rich have multiple streams of income and pay themselves first. “Instead of focusing on spending and saving, focus on how to earn more, invest a percentage, and spend the remainder any way you wish,” says Siebold.
The rich “would rather be educated than entertained, ” writes Siebold.
They appreciate the power of learning long after college or any formal education is over, he explains: “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful. The middle class reads novels, tabloids, and entertainment magazines.”
Who you hang out with matters more than you may think. In fact, who you choose to surround yourself with could even affect your net worth, Siebold says.
“Successful people generally agree that consciousness is contagious, and that exposure to people who are more successful has the potential to expand your thinking and catapult your income,” he writes. “We become like the people we associate with, and that’s why winners are attracted to winners.”
Average people tend to long for the good old days, Siebold says. Meanwhile, rich people are busy dreaming of the future and are optimistic about what is to come.
“People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression,” he writes. “Self-made millionaires get rich because they’re willing to bet on themselves and project their dreams, goals and ideas into an unknown future.
The average person wants to be comfortable. Rich people, on the other hand, are stimulated by uncertainty.
“Physical, psychological and emotional comfort is the primary goal of the middle-class mindset,” Siebold writes. “World class thinkers learn early on that becoming a millionaire isn’t easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty.”
“The great ones are operating at a level of consciousness where fear doesn’t exist,” Siebold writes. “At this level of thought, anything seems possible. Every dream that seems crazy to the masses looks surprisingly doable.”
To operate at this level, you have to be willing to leave your comfort zone, which is exactly what the richest people do.
While the middle class sets their financial expectations low so they’re never disappointed, the rich set their expectations exceptionally high and are up for any challenge.
As Siebold writes: “No one would ever strike it rich and live their dreams without huge expectations. Ancient wisdom says you get what you expect, yet many people decide to limit their lives to middle-class mediocrity in an effort to protect themselves from failure.”
Once they set ambitious goals, they immediately start looking for ways to tackle them, he says: “Champions don’t wait for things to happen, they make things happen.”