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Tags: self made | millionaire | hard work | habits

7 Habits of a Self-Made Millionaire

7 Habits of a Self-Made Millionaire

(Getty/Patrick Lin)

By    |   Tuesday, 08 November 2016 07:48 AM


So, you say you want to be a millionaire? Millionaires are becoming more and more common, but the “Millionaire” label doesn’t necessarily mean the same thing as it did just a few years ago.

For many people becoming a Millionaire is a milestone. Unfortunately, one million dollars does not go as far it used to, but it still is an accomplishment to celebrate. What does it take to achieve the coveted Millionaire status? It doesn’t take an Ivy League education, and it doesn’t take coming from a wealthy family. What it DOES take is a lot of hard work.

When I look back on my career I don’t consider myself an overnight success—it took me 20 years of dedication and focus. I spent 14-15 hours a day and lost blood, sweat, and tears sacrificing many things in my life to achieve my career goals. Most people can expect to have the same experience unless you get extremely lucky.

Some people can hit it big in business or quickly climb the corporate ladder.

So while you are hard at work, I have 7 Key Habits for you to play on repeat in the back of your mind to ensure your personal success:

1.       Positive Thinking

It won’t always be easy—but it is incredibly important to exercise neuro-plasticity. Though this term looks scary, it is actually one of the most powerful actions you can take in your life. So, what is “neuro plasticity?” Neuro plasticity is the exercise of positive thinking. Millionaires practice positive thinking by visualizing not only their goals, but what success looks like. They envision their success and every step it takes to achieve it. I practice this in my own life by focusing on my goals right before bed and as soon as I wake up in the morning. Neuro plasticity rewires your brain to allow your body to compensate for things like illness or injury.

2.       Practice What You Preach

There is nothing worse than coming across someone who you think is financially successful who has no real foundation. Many people can fake it, but few can act, talk, and walk like a millionaire. Practice what you preach, or else you risk your colleagues doubting you.

3.       Greet the Day

When you open your eyes in the morning, you have two choices: you can be positive or negative. Are you going to wake up in the morning dreading your responsibilities, or are you going to rise out of bed ready to seize the day? Something that helps me greet the day in a positive way is waking up a few hours earlier than most people. I wake up at 4:30am to embrace the day with open arms and maximize my time.

4.       Embrace Collaboration

Many successful people will tell you that “collaboration is key.” Collaboration can mean seeking the advice of your friends and family, working with someone you respect, considering the opinions of outside sources, or even simple networking. Surround yourself with positive people who can provide unique ideas and creative ways to tackle your problems. Actively listen to their advice, and develop a mutual relationship to solve problems that require more than one perspective.  

5.       Consistency Is Key

This tip goes hand-in-hand with practicing what you preach. It is paramount to exercise consistency in both your personal matters and business pursuits. Try not to get distracted by neigh-sayers or those who will sell you any idea to make a buck. In order to follow through with your actions, you must remain consistent with your words. Consistency encourages loyal relationships with your clients and personal connections.

6.       Integrity Always

Integrity is critical in my profession because it is the foundation of trust. If you cannot establish trust and open, honest communication with the people in your life then you cannot grow relationships. You should not sacrifice your integrity for a seemingly good deal. Your short-term success will eventually expire and you will only be farther away from becoming a Millionaire.

7.       Gratitude and Mindfulness

Practicing gratitude and awareness is critical at every step of your journey to success. As I mentioned earlier, most Millionaires did not make their fortune alone. Acknowledge the individuals in your life who help you along your path. Express your appreciation for their contribution to your success, because they serve a major purpose in your life. Your family and friends will help you reach your milestones, so always take the time to appreciate them.


Jon Sanchez is a registered representative offering securities and advisory services through Independent Financial Group, LLC (IFG), a registered broker-dealer and investment advisor. Member FINRA/SIPC. OSJ Branch: 12671 High Bluff Drive Suite 200 San Diego, CA 92130. Sanchez Wealth Management, LLC and IFG are not affiliated entities. CA Insurance Lic. #0772626.

Jon G. Sanchez is the CEO of Sanchez Wealth Management, LLC, located in Reno, Nevada. He is the host of the Jon Sanchez Radio Show heard each day on Newstalk 780 KOH as well as an author of The 3 Pillars of Life, a speaker, cattle rancher, volunteer firefighter, a husband and father of three beautiful children. He can be reached at jon@sanchezwealthmanagement.com or (775)-800-1801.

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So, you say you want to be a millionaire? Millionaires are becoming more and more common, but the "Millionaire" label doesn't necessarily mean the same thing as it did just a few years ago.
self made, millionaire, hard work, habits
Tuesday, 08 November 2016 07:48 AM
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