Being rich nowadays has a new definition. What does it mean to be rich? How can you get rich? Is it worth it? Whatever your definition of rich is, you need to have the right mindset, and that’s what I’ll deep-dive in this article. What is the Millionaire’s mindset, and how having the right Millionaire’s mindset helps you get rich?
Definition of “Rich”
When we talk about being rich, we picture people who have big houses in a good neighborhood, countless cars, vacationing in resorts, flying first class, and cruising in yachts. They eat food cooked by their private chefs. They don’t need to do any cleaning because they have countless maids to do the chores.
Well, that’s how movies portray it.
It makes you wonder, how it looks so out of touch. Do they even know the other side of the spectrum? Are they really happy?
I watched a lot of The Real Housewives and it made me think that this is not the kind of rich I want to be in.
These very wealthy people don’t have to work much in their lives because they have more than enough. If they need the money? No problem. Poof!
Other rich people work hard for their money that the moment they wake up, they carry the world in their shoulders. Nope, that’s not what I’m aiming for either.
When you google ‘how much money is enough’, you’ll find articles about retirement as if that’s the common goal. Once you earned your target amount of money, will that be the time that you’ll stop working?
And if you stop working now, will that make you happy? What do you plan to do for the rest of your life?
Before you decide to get rich, it is important to define your meaning of rich. How do you picture your ideal life?
Having clarity is the first step in every goal because knowing where you want to land, will help you create the necessary steps to reach that goal.
If you are not clear enoough with your goal, then you cannot expect luck to get you to that destination.
My definition of rich is based on a book by Tim Ferris – the Four-Hour Workweek. He defined the currency of the New Rich: time and mobility.
It’s true that people don’t want to be millionaires.
They want to have what they believe only millionaires can buy.
Steps to Have the Millionaire’s Mindset – How to Get Rich
It always starts with having a healthy millionaire’s mindset. Here are five steps you can start right now to get on the right shape:
Drop any emotional baggage.
If you are going to embark on this journey, you have to stop giving excuses on why you aren’t what you want to be. Stop telling old stories about yourself that don’t matter anymore.
You have to recreate yourself, your story and your journey.
Leave your doubts out of the door.
Learn to master your emotions because getting into this path is not for the weak heart.
You have to be firm in every decision that you make from now on. You use more of your brain – more logic as you move forward.
If you decide to take this path, then understand that there’s no turning back.
Surround yourself with people who have the same mindset or want to be in the same mindset.
I’m not telling you to surround yourself with only successful people. That would be ridiculous.
First, there are not a lot of people who seem to everyone else that they are successful but they, themselves aren’t considering themselves to be successful. Success is a term we all have to be careful in using.
Second, there’s nothing wrong with hanging around people who haven’t reached their goals yet, but constantly dream that one day, they will get there. As long as these people continuously work on their dreams, I’d say keep them.
These dreamers and do-ers have the same mindset as you are and hanging around with each other creates accountability.
Identify your niche.
If you want to have time and mobility a.k.a. currency of the new rich, you have to know what your niche is. Whether it’s starting a business or investing, you have to be clear on the strategy you will use.
Learn as much as possible about this niche, which you can innovate later on.
This niche will not only feed you, but will also get you to your targetted goal to get rich.
Be open to feedback.
Failure is not an option. It happens and it’s okay.
The most important thing is you learn your lesson, apply the necessary changes and continue moving forward.
Don’t be afraid of criticisms – as long as they are valid and constructive, you may want to check your plans again to see what can be done. What can you do better?
One isn’t born an entrepreneur. Having a millionaire’s mindset is not easy either.
It is a continuous process which you have to learn and re-learn.
Even when you reach your goal, you should not stop learning.
Be consistent while staying healthy.
You cannot expect to get rich after giving 100% for six months or one year.
And just because you reach your goal, you have to stop showing up either.
Show up every time even if you are not in the mood.
Show up every day even if you are on automode.
The good thing about wanting to be in the circle of the new rich is that you don’t have to work hard. Yes, you can still sleep. Yes, you can take a break.
Rather, you have to work smart. Delegate and get people to your team.
We don’t want to overwork ourselves because health is our utmost wealth. We cannot follow all the rest of the steps, if we are not strong enough physically, mentally, and emotionally.
So, don’t forget about yourself. 🙂
How about you? What is your decision of success? Do you want to be a part of the new rich? What are the steps you will be taking to get rich? Let me know in the comments below!