11 Wealth Secrets I Learned Advising 453 Millionaires

Most people don't realize luxury cars are wealth destruction machines.

Did you know?

Luxury cars lose about 60% of their value after just 5 years.

Millionaires see cars differently. They:

1. Buy reliable, used vehicles
2. Invest the difference in appreciating assets like stocks and real estate
3. Prioritize long-term wealth over short-term status

The average millionaire saves and invests about 64% of their income.

Never live bigger than your paycheck.

Don't consume, instead, use your paycheck to invest for your future.

Live like an undercover millionaire today to be a millionaire tomorrow.

As your income grows, your savings rate should grow faster.

You'll be tempted to upgrade everything—don't.

Control your expenses before they control you.

A degree is good, but your network is better.

One of the greatest indicators of your future success is determined by the people who know you and trust you.

Build and maintain meaningful relationships as early as possible.

Your network is your net worth.

If you've ever heard of the saying:

"Don't put your eggs in 1 basket."

Then you know that you shouldn't rely on just 1 income source.

Start building multiple income streams today.

Getting out of debt is:

• 20% knowledge
• 80% a change in habit

Changing your financial habits include:

• Earning more
• Spending less
• Investing more

To live debt-free, you may have to adopt a lean life.

63% of Americans cannot afford a $500 emergency.

That means the average American would have to resort to high-interest credit card debt to pay for surprise expenses.

Do your future self a favor and save 3 to 6 months' worth of living expenses.

It takes about 66 days for a new behavior to become an automatic habit.

Stick to a productive daily routine to build healthy financial habits.

When you build healthy financial habits, you will struggle less in life.

76% of millionaires exercise for at least 30 minutes daily.

Never take your health for granted.

Sticking to an exercise routine and a healthy diet is key.

Remember that you cannot enjoy your wealth if you have bad health.

85% of millionaires read books for 30 minutes or more daily.

Books give you a chance to learn from and think like the greatest minds that have walked this earth.

If you want to succeed, you have to read.

“Compound interest is the eighth wonder of of world” - Albert Einstein

Don't work for your money, make your money work for you.

Allow compound interest to build your wealth.

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