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This week on Money and Investing, Mitch Olarenshaw and I break down the habits that set millionaires apart. From discipline to diversification, we share practical ways to build and grow wealth.
1. Start with discipline
The foundation of wealth starts with discipline. Millionaires often live by clear routines such as waking up early, avoiding distractions like social media, and starting the day with clear goals. Whether it is exercise, budgeting, or tidying your space, how you do anything is how you do everything.
2. Build daily rituals
Consistency in your daily habits matters. Structured routines like journaling or setting priorities before work help keep your focus. Millionaires often stick to a routine that limits decision fatigue and promotes action.
3. Take action early
Waiting for the perfect time to invest often leads to inaction. The sooner you begin, the more time you give compounding to work. Get educated and start small, but start early.
4. Invest and diversify
You cannot save your way to wealth. Learn to invest in assets that suit you such as property, shares, or ETFs. Once one stream works well, diversify into others. Over time, this builds multiple income streams and a more secure financial base.
5. Avoid common pitfalls
Snoozing the alarm, consuming social media early, or selling too soon can all work against you. One clear takeaway is never hit snooze. Discipline begins the moment you wake up. And once you invest in quality assets, hold for the long term.
6. Stay around the right people
Supportive relationships help. That includes partners with aligned financial goals, mentors, or like-minded peers. Avoid opinions from people who are not on the same path.
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For more info about Money and Investing, you can go to the podcast; read The Wealth Playbook: Your Ultimate Guide to Financial Security and The Wealth Playbook on Audible.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
