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The Top 10 Millionaire Secrets

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The idea of what was once considered “rich” is rapidly changing, as is the profile of the wealthy themselves.

Here are ten secrets you probably didn’t know about millionaires.

 

Top 10 Millionaire Secrets

 

1. They don’t see themselves as rich

Millionaires are wealthier than 90% of U.S. households, and they make an average of $366,000 per year.

Now, the millionaire club isn’t as exclusive as it used to be—10 million America households now have a net worth of more than a million dollars, which is double the number in 2002.

 

2. They shop at Wal-Mart, too

Millionaires might not be buying the off-brand soda pop, but they understand the importance of being frugal and do so consistently.

Most millionaires come from middle-class households, and over 80% of millionaires report shopping with a middle-class mindset. That means they’re not above looking for bargains.

 

3. I didn’t become wealthy by cutting back on lattes

To join the millionaire club, you could invest in the stock market, buy real estate, or take the most popular path: starting your own business. About half of all millionaires made their money that way.

 

4. I have a concierge service

A personal concierge service is the modern-day equivalent of a butler. They work on retainers ranging from $25/hr to six figures annually.

A concierge will help you get restaurant reservations, good tee times at golf clubs, or go to great lengths to find whatever you need. Some concierge services now even include personal physicians.

 

5. You don’t become wealthy by being nice

One author who wrote a book about millionaires says that they openly admit to being “bastards in business.” But, when it comes to the homestead, they share values with middle-income people. Spending time with family is very important to them.

 

6. Find ways to avoid taxes

Because millionaires earn most of their money from dividends and capital gains, which are taxed at lower rates than wages, they can get away with paying less of a tax burden than they theoretically should.

The biggest savings come from owning a business and deducting expenses to minimize the tax burden.

 

7. I was an OK student

The median college GPA for millionaires is a modest 2.9, and the average SAT score is 1190. Indeed, 59% of millionaires attended a state university or college.

Most millionaires agree their ability to work hard mattered more than their education.

 

8. My Ferrari is a rental

More and more businesses are offering “fractional ownership” programs for jets, cars, designer handbags, and more. You pay a fraction of the cost to show off the car or product for a few weekends or months of the year.

 

9. Actually, money does buy happiness

Money buys freedom, and studies show that higher incomes correlate with a higher level of life satisfaction.

 

10. They’re trying to keep up with the Trumps, not the Jones

What makes people happy about having money is how much they’re making relative to their peers, so millionaires are always looking across the fence where the grass is greener.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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Success Advice

20 Ways You Can Become a Powerful Communicator

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Emile Steenveld Speaker and Coach

Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

But, don’t worry if you don’t naturally possess this skill, as effective communication is something that can be developed with practice, planning and preparation.
 

1.  Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

 

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

 

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

 

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

 

5. Show empathy: Show that you understand and care about the other person’s feelings.

 

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

 

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

 

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

 

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

 

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

 

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

 

12. Cut the fluff: Avoid being long-winded and get straight to the point.

 

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

 

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

 

15. Take responsibility: Take responsibility for your own actions and feelings.

 

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

 

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

 

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

 

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

 

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

 

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.

 
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