15 Things Wealthy People Do Differently Than Others

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” – Ayn Rand

When I started my first business at 17, I knew nothing about money. I made some money and ended up spending it poorly. I bought fancy clothes, a car and wasted it on items that seemed to me give me zero return.

At a networking event, I was lucky enough to meet a group of wealthy individuals. They thought I was a great businessman, but they knew I was horrible with money. They wanted to show me the ropes and invited me to join their mastermind sessions for a month.

I reluctantly accepted this offer without knowing what was to come. The knowledge I learned from them during my mastermind sessions were very valuable.

In this article, I’m going to share 15 things wealthy people do differently than others:

1. Rich People Create Their Own Destiny

The first rule they taught me was that we all had the power to create our own destiny. We have the same amount of hours as Michael Jordan or Jay-Z in a day. They don’t wish on stars or wait for things to fall in their lap, they make things happen.

2. Rich People Stay Away From Satisfaction

If your goal is to just ‘live comfortably’, you will never be wealthy. Rich people don’t let off the gas easily. Instead of being satisfied with the first chunks of money that come in, they use that initial push to relentlessly motivate themselves to make more.

3. Rich People Take Risks

Ever heard of the phrase, go big or go home? Wealthy people live and die by this. They understand that in order to be financially secure, you have to think big. With thinking big, it’s natural to take huge risks.

4. Rich People Get Motivation From Other Successful Individuals

If you see a fancy sports car on the street, do you ask yourself how lucky that person is? Wealthy people know that luck and jealousy don’t exist. They only believe in motivation. When they see other successful people around them, they use that for inspiration and motivation to better themselves.

5. Rich People Spend Time With Other Wealthy Individuals

Write down the names of the 5 people closest to you. Write down their incomes, add those incomes up and divide that number by 5. It turns out that people have the average income of their 5 closest friends. Wealthy people know this secret to success and make sure they spend their quality time with other wealthy individuals.

6. Rich People Build Personal Brands

A business can be taken from your hands at any point of time. You can sell a company, go bankrupt or simply not be useful in the marketplace. However, a personal brand is something that will carry on with you for the rest of your life. Wealthy people build businesses and their personal brands simultaneously.

7. Rich People Take Criticism

Wealthy people don’t shy away from criticism. They aren’t fearful of what others have to say. They are on a mission to constantly better themselves and if taking criticism will help, they are game!

8. Rich People Never Say Never

Take something to a wealthy person and ask them if they want to buy it. Instead of saying “I can’t afford it”, they say “I will afford it”. They have a mentality to life that is different than the average person. They don’t get disappointed by the things they can’t have, instead they get motivated.

9. Rich People Understand How To Make Their Money Work For Them

The biggest principle I learned from my wealthy mastermind group was the idea of making my money work for me. Instead of trading hours for dollars, I learned to trade dollars for more dollars. You have to find investments that are passive in nature, but provide a return so that you can continue to grow your wealth.

10. Rich People Teach Themselves

Graduating from college doesn’t mean that you can stop learning for the rest of your life. Wealthy people constantly educate themselves and try to stay ahead of their market in order to be successful in the future.

11. Rich People Take Massive Action

Wealthy people understand that in order to be successful, you only have to be right once. Instead of letting fear rule their lives, rich people take massive action. They know that they won’t successful unless they try so they put their ideas into action.

12. Rich People Hold Themselves Accountable

We all have problems in our lives. However, most wealthy people are so happy and successful because they take accountability for things in their lives. Most of us are focused on playing the blame game, but wealthy people understand when they are wrong and try to make themselves better for the future.

13. Wealthy People Don’t Let Their Circumstances Define Them

Whether you’re born poor or don’t have enough money to attend college, you cannot allow your circumstances to define you. Wealthy individuals understand that their circumstances can be challenges, but they can change their situation with plenty of hard work.

14. Wealthy People Outwork Others

In order to be successful, you have to work hard. Whether it’s putting in long hours or balancing multiple jobs, wealthy people are willing to do whatever it takes in order to be successful.

15. Rich People Follow Their Passion

It’s very hard to be wealthy and successful doing something you don’t love. Your heart isn’t there and you find it a chore working extra hours. Wealthy people follow their passions because it makes them happy and they have no problem spending hours at their job.

Conclusion

I am extremely thankful that I got to spend a month of my time with a group of wealthy individuals who were all worth hundreds of millions of dollars. These are 15 things wealthy people do different than others.

photo credit: Winning Automotive Photography via photopin cc

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