Saturday, 2 July 2016

5 Powerful Mental Habits of Exceptionally Wealthy People

Changing the way you think can supercharge your wealth.

By Elle Kaplan

There's a certain spark about some people--they seem to have a magnet for success and wealth that the rest of us don't possess.

It shouldn't be a surprise that these individuals often become the billionaire entrepreneurs that we know today.

But to become a billionaire, you don't need to find a magic wand or a winning lottery ticket. A lot of this success is actually grounded in some incredibly simple mental habits. By changing your thinking, you too can change your success and get on track towards extraordinary wealth.

I won't keep you waiting; here are 5 proven mental habits of billionaires that you can adopt today:

They think

Thomas Corley studied the habits of millionaires across the globe in his book Rich Habits: The Daily Success Habits Of Wealthy Individuals, and he found that wealthy people always spend 15 to 30 minutes a day just thinking.

This might seem like a no-brainer, but ask yourself this--during a busy workday, how often do you actually spend time thinking instead of just doing?

As tempting as it might be to dive straight into your emails Monday morning, take a hint from Corley and spend a few minutes prioritising instead. And rather than goal-setting on autopilot, take the time to look at the big-picture and examine things like your career goals and business relationships. I do this by taking my rescue pup Magic for a walk during the day, and you can also find some similar excuse to get out of the office and reflect.

They seek help from (and help) others

It's a big misconception that wealthy people live in a cutthroat world where success is achieved in a complete vacuum.

Rather, 93 percent of wealthy people use a mentor to each even higher, while also helping others in the process. They realise that people are often genuinely happy to help them navigate the twists and turns as they develop--after all, they've been there.

Beyond finding a mentor, incorporate the sharing of success and seeking help into your everyday life whenever you deal with others. According to Dale Carnegie's classic How To Win Friends & Influence People, successful people rarely complain or criticise others, and they are always sincere and willing to lend a hand. They find that for everything they give to others, they eventually get it back tenfold.

So instead of hoarding success, take a page from Carnegie and make a habit of sharing it with others--the results will amaze you.

They set goals, and they don't make wishes

Successful people didn't get to where they are today through daydreaming. As Thomas Corley put it, "If you want your wish or dream to come true, you need to create goals around them, pursue those goals and achieve those goals. You need to break your wish or dream down into manageable tasks that you are able to perform."

For instance, wishing you were a billionaire is all well and good, but it won't get you anywhere. Instead, by setting goals like "I'll save and invest an extra $200 a month", you'll get there much quicker than you ever thought was possible. So keep that big-picture dream in your head, but don't forget to break it down into manageable realities.

They expect to be lucky

"Lucky" and wealthy people also expect to be lucky and wealthy. Unlucky people expect just the opposite. Quite often, these odds turn out to be true.

Extensive studies on positive thinking back this up:

A landmark paper by Barbara Fredrickson found that "positive emotions momentarily broaden people's attention and thinking, enabling them to draw on higher-level connections and a wider-than-usual range of precepts or ideas."

Over time, those skills picked up with a positive attitude translated into "becoming successful, healthy, and happy in the months and years to come."

Think back to the phrase, "some people just seem to have all the luck". Unsurprisingly, optimism plays a key role in luckiness, as it greatly affects luck production and perception. So dare to think positive--it will snowball into even more wealth and success.

They don't take things for granted

Another big misconception about wealthy people is that their constant pursuit of more wealth also makes them constantly unhappy with what they currently have.

In fact, rather than being unhappy with their car as soon as the latest model comes out, wealthy people do the exact opposite. Don't believe me? Studies have found that people who are grateful have a 10% higher income overall.

Part of this has to do with viewing luxury differently and not correlating higher income with more spending. But there's also a slew of priceless benefits that come from gratitude, such as better relationships with others and improved health (according to Harvard research).

Although you should always be reaching higher and higher, you should never forget or take your past successes for granted. You can start this today by using proven methods to increase your gratitude, such as keeping a gratitude journal or merely reflecting for a few minutes.

Quote for the day

"There are three constants in life: change, choice, and principles." - Stephen Covey