April 08, 2020 13 min read

As of 2020, millionaire habits aren’t exactly secrets among the wealthy anymore. The secret is out and it has been out for a long time. For some, it was just a matter of knowing where to look but now that’s no longer a problem.

Today, we have more information than we need and way more than we could possibly ask for. It doesn’t matter what you want to know. You can find the answer to almost any question you have within seconds all with a simple search on YouTube or Google. So there’s really no excuse for you to say you don’t know something.

You could ask something exotic like: How does eating bird’s nest help you get radiant, silky skin? Or you could ask something controversial like: How feasible is Elon Musk’s plan to colonize Mars by 2050? You can ask just about anything because the possibilities are endless and that includes learning about millionaire habits.

You probably don’t need anyone to tell you that reading, exercising, sleeping well, eating healthy, setting goals, managing money, and seeking relationships with other successful people are all great habits to have. As you know, these are some of the most common habits among many successful people. But is this everything?

People are Waking Up to Our Fast-Changing Reality

Other than the mindblowing changes we’ve seen in technology, we’re also seeing more and more people making changes in their lives. People are seeking out help. And they’re trying to figure out how to be more so they do more and eventually have more in their life.

With so much demand, we have a ton of personal development advice circulating the internet. You can tell because these days you can’t surf the web or watch Netflix without being bombarded with self-help blogs, videos, and documentaries.

Now, you might be wondering - Well with so much information, how do I know what is true? That’s a fair question. There’s a lot of contradicting advice out there and buried under it is some really good advice. But one of the things we forget to do is cut through the noise and figure out what is best for us.

This is what we’re going to share with you in this article, which brings us to our first overlooked millionaire habit. So let’s get started.

Millionaire Habit #1: Questioning Everything and Thinking Clearly

There’s a famous quote from Bruce Lee that sums this up quite nicely. He says: “Absorb what is useful, discard what is not, add what is uniquely your own.” If you consume a lot of personal development content, then there’s a good chance that what we share with you today is nothing you haven’t heard before.

One of the most important millionaire habits is the ability to think differently from the rest of society. It’s their ability to adopt what Napoleon Hill in his book Think And Grow Rich calls accurate thinking.

If you’ve read the book, then you know that the most memorable and the first principle of achievement is desire. And for good reason - it’s empowering. It’s that burning desire, focus, and drive to be successful that keeps you going, no matter what. But the principle that no one talks about but is as important is his 11th principle of achievement - accurate thinking.

Now, what does accurate thinking mean? You can think of it as the ultimate foundation to all successful achievements. Because without this principle, it’s nearly impossible to sustain lasting long-term success. Accurate thinking is being able to identify what is true and relevant.

So is it the same as critical thinking? No, it's not. Critical thinking is about analyzing and evaluating the agendas and thoughts of others. Accurate thinking has more to do with synthesizing new agendas, new thoughts, and new ideas. It’s about looking at yourself or any situation and figuring out what is true and relevant.

It’s probably one of the most difficult things to do because it requires a lot of mental bandwidth. For Dan, he calls this his thinking time and it’s something he religiously schedules throughout his day. If you took away everything he had including all the tools he had in business, sales, marketing, and left him with one thing, without hesitation he would pick his thinking time.

How Exactly Do You Think and Grow Rich

If you think about it, most people don’t spend enough time doing this. We’re often all so busy being busy all the time that we don’t consider taking the time to think. So does that mean you lock yourself in a room, sit there, let your mind wander and wait for thoughts to come to you? No.

There’s a more practical way to do this. So learning how to think is actually very simple. It’s nothing more than asking yourself deep, profound and thought-provoking questions.

First, find a safe and quiet environment where you know you will not be disturbed. That’s very important. Be sure you are free of distractions. You can turn on some music or stick to complete silence. It’s completely up to you.

Now when we talk about deep and profound questions, we’re talking about asking those questions that take a little bit more time and mental bandwidth. You need to really think about it. They’re very different from surface-level questions that don’t have a lot of depth.

Here’s a perfect example of a bad surface-level question: Why can’t I make more money? The quality of this question will lead to poor quality answers. Think about it. When you ask that kind of question, what comes to mind?

  • “Oh well, I’m not good enough.”
  • “No one wants to buy from me.”
  • “I don’t have enough experience.”
  • “You don’t know the right people.”

With a question like that, you can’t expect to get a high-quality answer that’ll lead you anywhere. A better question would be: How can I make more money? But even that is still a basic level question. It’s vague and it’s very general. Let’s take it to another level.

Let’s say you’re a business owner and you want to increase your sales. If you spend a little bit more brain juice to craft an even better, more profound question, you might come up with something like this: How can I make more money without acquiring any new customers?

Do you see how this question is a little bit more interesting? Now, we could stop here but we’re going to add on one more extra layer. How can I make more sales without adding new customers and without adding any new expenses?

This is an even more powerful question. So your answer might be something like: I can do a joint venture with someone where I only pay them on a performance basis. You see, this is actually how you think and grow rich. It’s the ability to think accurately on a consistent basis.

Millionaire Habit #2: Creating Their Outer World by Changing Their Inner World

Are you familiar with the saying “It’s time to reap the fruits of your labor”?

It means when you work hard, you can enjoy the benefits and rewards that come as a result of your hard work. In our society, this is how most people operate. They work and think with a very surface level mentality and they live based on the results they can physically produce. There’s nothing really wrong with that. But what if we thought about it differently?

Picture a tree with fruits on it. The fruits are the results we get from working hard. And let’s say for some reason, you don’t like the fruits. It could be because there aren’t enough of them, they’re too small, or even because they don’t taste good.

Now, in life, most people would put more attention on the fruits (their results) and complain about why they don’t look right. But if you look deeper, what actually created those fruits? It’s the seeds that were planted and the long network of roots that allowed those fruits to form.

You see, it’s what happens underground that produces everything that happens above. It’s the part we can’t see that creates the parts we can see. But what does this even mean? According to T. Harv Eker, this means if you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.

How Do You Change Your Inner World

This is one of the millionaire habits that many people still don’t understand why and how to take advantage of. It’s also deemed as one of the most important because, again, it’s all about establishing a strong mindset. You want to leverage your mindset (your inner world) to create the life that you want.

You can see why this is true in the tree example. If the fruit has already grown, then paying more attention to it does not change what has already happened. It’s the same with the results you produce in your life. But there is one thing you can change?

You can change what the fruits look like tomorrow. And to do that you have to strengthen the roots that are underground. The same applies to you. If you want to change your results, you need to change your mindset and the words you say to yourself.

A practical and simple way to do this is by doing two things: 1) changing the way you react to results you create in your life and 2) saying affirmations twice a day - every day.

So, let’s say you produce results you didn’t like. Instead of asking yourself victimizing questions, start asking powerful questions to figure out how you can produce different results. Now, for affirmations, you might be thinking - This sounds like some woo-woo thing people do in the movies. No. It’s actually a real thing a lot of successful high-performing millionaires do as well as some professional athletes.

So what exactly are affirmations? They’re goals that are turned into positive statements in which you say empathetically and out loud as if they were true today. For example, if your goal is to make $100,000 in the next 12 months. Your affirmation would be something like this: I am happy and easily making $10,000 or more every month for the next 12 months.

Millionaire Habit #3: Not Ashamed of Being the Dumbest Person in the Room

Do you know what three of the most dangerous words you can say in the English language are?

Those words are “I know that” and here’s why. If you’re not living it, then you don’t know it. But saying you know something just from reading a book, watching a video, or just from talking about it, does not mean that you know it.

This a huge mistake a lot of people make. As humans, we often have our ego standing in the way all the time. We try to prove that we’re right and we put on this facade as if we have everything figured out.

But what do you actually gain from having all answers and thinking you know everything? Nothing. You can’t gain anything because you already know everything. T. Harv Eker famously said: “You can be right or you can be rich, but you can’t be both.” To him being “right” means hanging on to your past beliefs and old programming, which got you to where you are today.

This is why people who adopt a poor mindset love to be around people who are at the same level or lower than them. Why? Because it makes them feel good about themselves. So rather than saying “I know that,” successful people would say “I don’t know that” instead.

Why the Rich Grow Richer and The Poor Grow Poorer

This millionaire habit is the reason why millionaires can create their wealth, keep their wealth, and grow their wealth. They have this undying drive to always learn because they know that’s the only way they can grow into the person they want to become.

They always make an effort to not only learn more but to learn from those who are true masters in their fields. These are not people who claim to be experts in their respective fields but those who have real-life experience to support their results.

This is why if you can put yourself in a position where you are the dumbest person in the room, you’re setting yourself up for more success.

Millionaire Habit #4: Increasing Their Knowledge by Protecting Their Memory

When you’re learning and gaining new knowledge, that knowledge would be worthless without protecting the memory of that knowledge. This is why Jim Kwik says, “We know memory is valuable because there is no knowledge without memory.” And it’s true.

When it comes to millionaire habits, we always talk about reading books and acquiring new knowledge, but how effective would that knowledge be without having memory of it? This is something we can easily overlook when it comes to learning.

You must be able to go from consuming knowledge, to applying knowledge, and eventually filtering out that knowledge through wisdom. But without memory, that knowledge it’s not really worth anything. The point here is that you want to make sure you not only learn more but also protect what you learn.

What Steps Can You Take To Protect Your Memory

There are several things you can do to enhance your memory and many of those things have to do with taking good care of your health. As often as you probably hear this, it can’t be ignored. Some of these habits include maintaining a healthy diet, sleeping well, exercising, and learning more.

There’s no denying that you need to consume a lot of nutrient-dense foods to improve your brain health. This includes eating foods like blueberries, avocadoes, dark chocolate, dark leafy greens, walnuts, and more. These are some suggestions but keep in mind, you should have the self-awareness to listen to your body and figure out which foods are best for you.

In case you don’t already know, the reason why you keep hearing people in the world of personal development talk about sleep all the time is simple. It’s because it’s the time where your brain is most active as it takes everything you learned throughout the day and stores it into your long-term memory system.

Of course, we also need to exercise and engage in physical activity as it actually helps improve your ability to think, which we now know is the foundation of all success. It also helps to build more neural connections inside your brain.

Interestingly, one of the best ways to protect your memory is by learning something new all the time. Like exercising, it also builds and strengthens neurological pathways in the brain, which, as a result, will protect your memory over time.

Millionaire Habit #5: Always Focusing on Value Creation

The last overlooked millionaire habit isn’t the most obvious but it’s one that answers a very common question like this one: Will I become a billionaire (millionaire) if I am determined to be one and put in the necessary work required?

This question originally appeared on Quora and Justine Musk, Elon Musk’s ex-wife, came out to answer this question everyone was dying to know. Here’s what she said.

“No.

One of the many qualities that separate self-made billionaires from the rest of us is their ability to ask the right questions.

This is not the right question.

(Which is not to say it's a bad question. It just won't get that deep part of your mind working to help you -- mulling things over when you think you're thinking about something else -- sending up flares of insight.)

You're determined. So what? You haven't been racing naked through shark-infested waters yet. Will you be just as determined when you wash up on some deserted island, disoriented and bloody and ragged and beaten and staring into the horizon with no sign of rescue?

We live in a culture that celebrates determination and hard work, but understand: these are the qualities that keep you in the game after most everybody else has left, or until somebody bigger and stronger picks you up and hurls you back out to sea. Determination and hard work are necessary, yes, but they are the minimum requirements. As in: the bare minimum.

A lot of people work extremely hard and through no fault of their own -- bad luck, the wrong environment, unfortunate circumstances -- struggle to survive.

How can you *leverage* your time and your work?

Shift your focus away from what you want (a billion dollars) and get deeply, intensely curious about what the world wants and needs. Ask yourself what you have the potential to offer that is so unique and compelling and helpful that no computer could replace you, no one could outsource you, no one could steal your product and make it better and then club you into oblivion (not literally). Then develop that potential. Choose one thing and become a master of it. Choose a second thing and become a master of that. When you become a master of two worlds (say, engineering and business), you can bring them together in a way that will a) introduce hot ideas to each other, so they can have idea sex and make idea babies that no one has seen before and b) create a competitive advantage because you can move between worlds, speak both languages, connect the tribes, mash the elements to spark fresh creative insight until you wake up with the epiphany that changes your life.

The world doesn't throw a billion dollars at a person because the person wants it or works so hard they feel they deserve it. (The world does not care what you want or deserve.) The world gives you money in exchange for something it perceives to be of equal or greater value: something that transforms an aspect of the culture, reworks a familiar story or introduces a new one, alters the way people think about the category and makes use of it in daily life. There is no roadmap, no blueprint for this; a lot of people will give you a lot of advice, and most of it will be bad, and a lot of it will be good and sound but you'll have to figure out how it doesn't apply to you because you're coming from an unexpected angle. And you'll be doing it alone, until you develop the charisma and credibility to attract the talent you need to come with you.

Have courage. (You will need it.)

And good luck. (You'll need that too.)”

Now, if that doesn’t answer your question, then we’re not sure what will. The importance of this millionaire habit cannot be overstated because every successful person knows that money is simply a by-product of value creation.

Unlock Your Millionaire Mindset Vault

If you want to learn how you can think, act, and live like a millionaire, then you can implement these millionaire habits we’ve introduced here for you. But from what we’ve seen from other successful millionaires, reading alone will not make the difference you’re looking for.

Reading is definitely a good place to start, but if you want to experience success for yourself, it’s only your execution of your knowledge that counts. If you’d like to gain full and complete access to all the millionaire habits Dan has collected over his many successes, click here to get your Millionaire Mindset Secrets Vault here.