Retirement Product Review

The Fascinating Habits of the Uber Rich

by Richard Douglas

Mar 20, 2018

Success and wealth are not usually just happened upon. Besides those fortunate enough to receive a large trust fund, most successful people have to work very hard to reach the top. Many have pursued their chosen profession with passion to become recognized experts. They develop self-cultivating habits that help them thrive. Beyond the honing of their skill sets, these successful individuals have a few traits in common that help them achieve a level of success only few have known. Many of these habits can be duplicated by anyone who has the goal of kicking their game up a notch.

Take Time to Read

Most of the nation’s top one-percenters read every day, and they do it voraciously. According to Success Magazine, “Among wealthy people, 88 percent read 30 minutes or more every day.” The knowledge gained through reading leads to the discovery of more opportunities, which in turn lead to greater wealth. The benefits of reading are plentiful.

Make Yourself Indispensable to your Employer or Customer

There’s a big difference between doing what’s necessary to get by and going far beyond a job description to become a standout. The most successful people develop an expertise that allows them to speak at trade shows and network at conferences, write authoritative articles within their industry, and take the lead on big projects. They make their employer’s and customers’ goals their own. They put themselves in a position where they become an invaluable commodity to those they share a professional relationship with.

Goal Setting is Part of Life

A life without goals is like a rudderless ship, never finding its direction and never staying on course to get where it’s headed. This is a fact recognized by the world’s most wealthy. Goal-setting is ingrained in their psyche’s. The uber successful don’t wish or hope for an outcome or achievement – they pre-plan every step and set timelines for achieving those steps. They review their goals every day and map out specific steps to achieve them.

Open Ears, Closed Mouth

While most successful people are great orators, the truth is they’re even better listeners. You should listen five minutes for every one minute you talk. That formula has served the most successful people well. You only learn when you listen. Other people tend to like those they feel are better listeners. In his book, “The 7 Habits of Highly Effective People,” author Stephen Covey lists habit 5 as “Seek First to Understand, then to be Understood.” Emphatic listening leads others to reciprocate.

Don’t be Afraid of Failure

One thing most of America’s wealthiest have in common is their tendency to take risks. They’re willing to try a number of initiatives, knowing many will fail. Despite this fact, they continue taking the risk of potential failure to find success. Most people would see a single failure as the stopping point. The successful only see it as a stepping stone and are ready for the next risk.

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Hang Out with the Right Peeps

Financial radio and TV personality Dave Ramsey has been known to say, “If there are four broke people in a room, you’ll be the fifth.” We tend to pick up the attitudes and habits of those we surround ourselves with. The wealthy usually spend their time with other successful people. Surrounding yourself with goal-oriented, successful people will more often than not result in you encouraging each other to succeed in your own endeavors. Hanging around the right people can also bring about great collaborations and unmatched innovation.

Start Your Day Right

The right morning routine can be the difference between enormous success and a ho-hum life. Make it a morning ritual to get off to a great start by exercising, reviewing goals for the day, or reading useful information. The most successful people accomplish more than most before noon. By clearing your head and organizing your thoughts at the beginning of each day, you leave less opportunities for stress and distractions to interfere with your day.

Make Good Financial Decisions with an Eye on the Future

Not everyone needs to buy designer brands when something more common will meet their needs all the same. When money can be saved by making a more practical choice, the funds saved can be used in the future. Buying the premium label today will leave less funds for investments that may benefit you tomorrow. Weigh your purchases and buy what you need, not what impresses. Successful people don’t live above their means as they grow their wealth.

Don’t Do It All Yourself

There are many tasks that can keep a person from achieving important accomplishments. To avoid getting sidetracked with busy work, the successful manage their time and outsource those tasks that aren’t key to achieving their goals. This type of time management is integral to success. Utilizing these time-proven habits of the most successful people can send your life on a trajectory straight up. Wave at the astronauts as you pass the international space station. You are destined for great things. Successful people won’t just read this list, but act on it today.

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Richard Douglas

K Richard Douglas has worked in the financial services industry for
26 years, with an additional 10 writing about financial and
economic topics. He’s a former series 9, 10, and 26 registered
principal and series 6, 7, and 63 registered representative. Richard
has held many financial service industry designations, especially in
the retirement planning and compliance mechanism areas.

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