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Thomas J. Stanley, the author of the book The Millionaire Next Door, studied over 1,000 millionaires and found that 80% of millionaires didn't inherit their wealth. They built it.
The first step in building wealth is more personal than building millionaire habits or investing wisely. It is to change or build your mindset that encourages wealth. That means you believe that you can access wealth.
For many, it requires effort to develop a mindset believing that there are enough resources and opportunities for everyone. This is more true for those who grew up with limited resources.
Studies show that our financial habits are formed by age seven. It means that our feelings about money are influenced by how people around us talk and behave with money.
Before becoming a millionaire, we should rewire our brains to expect abundance. This means we should pay attention to our thoughts, then choose to entertain different ones.
Many people will stop themselves from desiring wealth because they believe that money is the root of all evil. But understanding that you can use your money to help others can be a game-changer.
Money can do as much good as it can evil. Don’t let fear stop you from pursuing wealth.
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