Becoming a millionaire at a very young age requires that you develop the same mindset nearly all millionaires have in common. Take a look at five of them below.

(1) Pursue A Legacy Not Money

“If your only goal is to make money, you’ll never make it”

- John D. Rockfeller

“I’d like to be a millionaire someday” is a wish nearly every one of us have uttered and gone about pursuing with relentless gusto. But shockingly, only a handful have managed to pull off this millionaire dream, while, on the other hand, this same dream is turning out to be a familiar pipedream for too many. Often, we tend to chalk it down to luck, but in reality, it all comes down to our approach really. You don’t achieve financial prosperity merely by wishing it or making that your only goal. You have to make helping others achieve their goals your focus. And this is where many have lost it. Quite often, many aspiring millionaires selfishly fantasize about the trappings of being rich; the exclusive private jets, fleet of flashy cars, the high rise mansions and processions of body guards to boot without really being interested in whether society benefits from their success. And it’s this very flaw of omission that keeps them from their Holy Grail. But real millionaires know better. While they might want to get rich, they see that as the deservedly end product of making their own contribution to the world. For them, wealth is not about having more money, it’s about creating a legacy generations will remember them by. And the fortunes they make is just the side-effect.

(2) Knowledge isn’t Just Power, It’s the Difference

An average person spends more on leisure and entertainment. But, as you might guess, the wealthy don’t share this mindset. In this highly stratified world where one’s social class and ultimate fate is assessed solely on where one belongs of the Haves and Have’s Not, social dichotomy, knowledge seems to account for the ever widening chasm in fortunes between both groups. It’s no coincidence then, that the richest people in the world are consumed by an unquenchable thirst for knowledge. They spend big on acquiring knowledge far more than they do on entertainment. And in spite of their somewhat busy schedules, they still make out time to read up books in their different areas of interest. Bill Gates is reported to read 50 books per year. When once asked about the key to success, Warren Buffet pointed to a stack of nearby books and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but

I can guarantee not many of you will do it”. Dream of being a millionaire? Then take a cue from these wealthy men and voraciously read up on any educational books you can find.

(3) See Opportunities Everywhere

In an era of agonizing stock market crashes, unprecedented corporate downsizing, and unfavourable economic predictions, the truly wealthy remain nonetheless unperturbed amid all the negativity that’s going on around them. They aren’t stricken with panic, nor are they overtaken by a sense of lack. They see opportunities everywhere and expect good things to happen because theirs is a mindset of abundance. And it’s this mindset that helps them attract wealth to their lives. Of course, this doesn’t mean they’ll never be broke at times, but you can be sure they won’t let this fact have a bearing on their future. They believe being rich is a good thing, desire it for themselves and are comfortable spending it when they have it. And worrying about running out of money is just not something you’ll find with them. So if you are going to be a really rich, this is a mindset you should cultivate.

(4) It’s About Taking The Calculated Risk

The Longman Dictionary defines the law of averages as “the probability that one result will happen as often as another if you try something often enough”. In simple terms, this law posits that you’ll increase your odds of success in any pursuit if you just try enough times. When it comes to wealth creation, this same law holds good. Putting all of ones eggs in one basket may sound like a superb piece of advice against mindless recklessness in life. But as a financial principle, it probably won’t lead anyone to affluence. But taking the calculated risk is a way of thinking nearly all millionaires share in their approach to reaching their financial objectives. They see the same potential in their money as a farmer does in their seedling – growth. Both often aim to grow “a forest of trees from a just a single tree”. But unlike the farmer, the millionaire doesn’t plant their seeds in just one soil, they scatter their money across multiple investment vehicles only to reap its “multiplier effect” down the line. The net result is the skyrocketing of their net worth’s.

(5) It Pays To Trust Your Guts.

“To succeed means that you may have to step out of line and march to the sound of your own drummer.”

- Keith Degreen.

An average person lives by seeking the validation of others and will most likely see nothing wrong with blending in with the crowd. For them, not trying too hard to be oneself is an even safer bet to gain social acceptance. They are more likely to take the beaten path to success even if this means ignoring their gut feelings. They are firm believers in following that worn-out conventional wisdom of gaining wealth through formal education. But these mainstream sentiments are hardly things you’ll ever find with the truly rich and successful. In comparison, the wealthy often appear to be the “misfits” in almost every society, with perspectives and lifestyles, so radically different from those of the larger community they live in. These non-conformists aren’t big on following the beaten path either. They are trailblazers who would rather develop their own blueprints for success and stick to it than follow in someone else’s footsteps, however successful. And it’s this very bold and independent thinking that’s help them build their financial empires. If you ask billionaires like Richard Brandson and the other roughly 35% who make up the list of the world’s billionaires why they had taken such an unlikely gamble to quit college and launch their first start-ups. They would probably tell you they were following their gut feelings. And did it work? You answer that!

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