1. You started making money at a young age.
One of the most common traits that the wealthy have in common is that they began earning money at a young age. For example, a 12-year-old Mark Cuban sold trash bags door-to-door, Warren Buffett sold packets of gum to his neighbours when he was just 6-years-old and Richard Branson bred and sold parakeets as pets at the age of 11. And of course I, personally sold a feminine pink bag to a neighbour when I was 12 years old.
If you had this entrepreneurial spirit as a child, then that’s a solid indicator that you’ll become a millionaire since you’ve always been on the lookout for ways to make money.
2. You’re an overachiever.
Were you that student who wasn’t satisfied with a B in the class? Millionaires have the mindset to shoot big. They’re not satisfied with making just $1 million. They want to make $10 million!
3. You’re really, really good-looking.
I know. This sounds like a bunch of bull and discriminatory, but research conducted by Daniel Hamermesh, an economics professor at the University of Texas in Austin found that this is the case. According to his research, “attractive people are likely to earn an average of 3 percent to 4 percent more than a person with below-average looks.” That may not sound like a fortune, but that adds up to “$230,000 more over a lifetime for the typical good-looking person.”
4. You have an action-oriented mindset.
“Are you the kind of person who sees an opportunity and then takes action to take advantage of it? If so, congratulations, because it’s that kind of action-oriented mindset that can propel you to financial freedom,” says Todd Campbell, author of “Your Guide to Better Stock Picks.”
“For example, it’s been proven time and time again that long-term investing can produce significantly more wealth than short-term trading, yet many Americans fail to make the most of their best long-term investment vehicle: their workplace retirement plan.
Do you contribute to your plan?
5. You possess a sense of urgency.
Millionaires don’t wait for the perfect time to invest or launch their business. They realize that there’s no better time than the present to start making money. Sitting back and waiting is one of the best ways to squash your dreams.
Bottom line — start right now.
6. You’re focused more on earning than saving.
It’s no secret that the wealthy are frugal with their money. While they excel at saving and spending wisely, they also know that the best way to make money is to invest it.
7. You keep an open mind.
You never know when an opportunity is going to present itself. And, if you immediately shut the thought of investing in this opportunity, then you could be losing out on making a fortune.
That’s why the wealthy always keep an open mind on new ideas. It may not be something that they would have supported in the past, but if it can make them a couple of bucks, then they may reconsider it.
As Warren Buffett once said,
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
8. You were Mr. or Mrs Popular in high school.
This I know for sure, it’s like a trait that differentiates you from your peers. I have been in a high school where I was known to be so popular and this trait followed me till college degree days. If you start making money and being popular in school, it’s a sign you’re cut out to be a millionaire.
9. You’re able to live below your means.
Another common trait that millionaires have in common is that they’re able to live below their means. Instead of flaunting their wealth they drive practical cars, live in modest homes, and don’t spend their hard-earned cash on items which are a useless luxury item.
10. You can defer gratification.
Jason Hall, a writer and editor for the Motley Fool, says “deferring gratification is one of the most important steps to becoming a millionaire.”
Hall adds, “The reality is, building wealth generally takes a lot of time. Even Warren Buffett, one of the richest people alive and arguably the best investor ever, created more than 80 percent of his vast wealth after he turned 50.”
11. You had a mentor.
It’s no secret that you associate yourself with can affect how successful you’ll be. Think about that for a second. If you’re spending a majority of your time with people who are negative or don’t have a drive, then do you think that they’re going to influence you in being motivated and optimistic?
12. You’re not stuck in the past.
These are people who have gotten over failure, rejection, and fear. And, they’re more concerned about putting their energy into their future. I’ve lost millions in a lifetime, I’ve moved past it and the fear of failure will never hold me down.
13. You’re a goal-setter.
Speaking of the future, the wealthy think about their long-term goals and needs.
“You don’t make a million by accident. If it’s not a goal you sure as hell won’t hit it,” writes Peter Voogd, founder of the Game Changers Academy, who made his first million before turning 26.
14. You know how to maximize your strengths.
“I suck at 99 percent of stuff, but I go all out on that 1 percent I’m good at,” Gary Vaynerchuk once said.
That’s not to say that you shouldn’t learn something new or work on some of your weaker skills, it means that millionaires are able to capitalize on their greatest strengths and then surround themselves with people who can enhance their weaknesses.
15. You’re optimistic.
How many people do you know are constantly whining and then blaming others? I bet those people aren’t well off financially, are they?
Millionaires don’t whine, complain, or point fingers. Instead, they accept challenges and look for ways to conquer them.
16. You may have a drink, but you don’t smoke.
Did you know that men who are self-reported drinkers earn 21 percent more than male abstainers, while women who drink earn 8 percent more than non-drinking females? The reason? Drinking enhances social capital, which leads to superior market outcomes.
17. You have a thick skin.
When you’re consumed by what others think of you, you’re allowing yourself to be held back. Instead of worrying about what others think about you, the wealthy have a thick skin thanks to being mentally tough.
In fact, being mentally tough is one of the key ingredients in making a successful entrepreneur since it assists them in handling pressure and overcoming challenges and setbacks.
18. You keep up with current events.
The most successful people in the world kick-off their early mornings by catching up on current events. For example, Warren Buffett and Bill Gates read publications like the “Wall Street Journal,” the “New York Times,” “USA Today,” and the “Financial Times” so that they can make more informed investment decisions based on what’s going on in the world.
19. You’re constantly improving yourself.
While having a college degree can make a difference in determining your net wealth, that degree ultimately doesn’t determine if you’ll become a millionaire or not. Bill Gates is one of the most famous college dropouts of all-time. But, that hasn’t stopped him, and wealthy people like Mark Zuckerberg and Jeff Bezos, from continually improving himself by feverishly reading and learning new information or skills.
Here is to becoming the next millionaire.
20. You’re grateful for every lesson you learnt in life.
Most people aren’t grateful for the lessons they learn in life but the millionaires are different. They learn in times of success, failures, heartbreak, joy, family and foes. The act of learning is a great sign you become a millionaire. Never stop learning!
If you have any related signs of becoming a millionaire, please share in the comment boss.