11 things your millionaire neighbor is hiding from you.
//THREAD//
1: He gets up before you.
A lot of millionaires are ultra-focused in the morning.
They're taking care of business before everyone else gets up and starts muddling their way through the day.
Most millionaires don't get up at the crack of noon.
2: She doesn't know (or care) who got voted off the island.
She doesn't watch reality TV, including the 24-hour news cycle.
She spends her time being productive: Learning, fixing, improving, exercising, working.
3: He's a millionaire because he lives in YOUR neighborhood.
Most millionaires don't live glamorous lives in million-dollar homes.
They live in regular neighborhoods, just like you.
They shop at regular stores.
Eat regular food.
4. She has a one-year rainy day fund.
She has enough cash reserves to last an entire year without having to earn another dime of income. She doesn't live on the edge.
5: He works out every single day.
2/3rds of millionaires exercise for at least 30 minutes every single day.
Exercise not only improves overall health, but it releases glucose, fuel for the brain. We get more creative. Become better problem-solvers.
6: She doesn't need your money advice.
Whether you think she's cheap, frugal, filthy rich or poor, she doesn't care. She truly doesn't care about your opinion of her and her spending practices.
She's the millionaire.
7: He gets at least 7 hours of sleep every night.
Close to 90% of millionaires get seven or more hours of sleep, every night.
Even on weekends.
Your neighbor's sleep schedule is consistent and healthy, which helps him make money and provide for his family.
8: She reads at least an hour a day.
88% of millionaires read AT LEAST 30 minutes a day.
Your neighbor loves reading autobiographies of other successful people while you are flipping through the latest edition of People Magazine.
9: He sold that over-priced BMW years ago
You still drive your Bimmer. Your millionaire friend sold his and now drives a cheap-to-maintain, reliable sedan. Pays $30 for an oil change.
10: She has a one-year, five-year, and 10-year plan.
Your neighbor doesn't "wing it". She has a clear plan for her near and long-term future.
- In one year, she wants her Master's degree
- In five years, she wants to be the Director
- In 10 years, she wants to be retired
11: He invests before he spends
Your millionaire friend pays himself first. He fully funds his investments. Pads his savings. Then has some fun with the rest.
FYI: Only 33% of millionaires have earned more than $100,000 a year.
Big salaries are great, but being a millionaire doesn't require earning 6-figures.
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If I had to do it all over again and my goal was to be a millionaire by 25, here's exactly what I would do.
1: Delete my Facebook account.
99% of FB is trash. Arguing and complaining about politics and posting pictures of that new overpriced car isn't getting anyone rich.
2: Go to college the smart way.
88% of millionaires have college degrees.
Community college for the first two years, then I'd transfer into a 4-year school (cheaper!). Major in something useful and marketable, like computer science, finance, accounting or business.
Automatic.
3: Max out my 401(k) and Roth IRA from day one.
401(k) max for 2022 is $20,500. Over the course of a 50-year career, that adds up to over $11 million assuming an 8% average rate of return.
Max Roth IRA is $6,000. That's another $3.4 million over 50 years.