Pearls of Wisdom From Self-Made Millionaires

I spent five years studying the rich and the poor. As a result, I’ve accumulated an enormous amount of data regarding both groups.

I documented how the rich act, think, make decisions, manage relationships, assess and define risk, cope with adversity, pursue dreams/goals, and many other things. I actually have 346 data points that I tracked.

I thought it would be insightful to share some of the wisdom I documented that the rich shared with me:

• “I could lose all of my money tomorrow and make it all back within 5 years.”
• “I am in control of my destiny.”
• There’s good debt and there’s bad debt. Good debt is debt used to pursue dreams, goals or investment opportunities.”
• “I created all of my own good luck.”
• “The economy doesn’t really affect me.”
• “Being healthy helps me make more money.”
• “You can’t make money laying in a hospital bed. That’s why I exercise and watch what I eat every day.”
• “Our education system only teaches people how to be good employees.”
• “Home ownership isn’t the American Dream. Freedom to do what you want with your time is.”
• “Home ownership won’t make you rich.”
• “The government wants employees, not business owners. They want a steady stream of income tax. You get that with employees.”
• “Every dollar I don’t spend is another dollar I can invest in something.”
• “Negativity creates poverty. Optimism is a prerequisite for wealth.”
• “Poverty is a temporary condition, made permanent by your thinking.”
• “I always knew I’d be rich one day.”
• “Most people really don’t want to become rich when they find out how hard it is or how much risk is involved.”
• “When you create something of value, the rewards are often obscene compared to the efforts.”
• “If you want to get rich you need to upgrade most of your relationships.”
• “Relationships are the currency of the wealthy.”
• “Self-education is the key to success in life.”
• “Anyone can become wealthy in America.”
• “Being a voracious reader is one of the keys to success in life.”
• “It’s not how much you make, it’s how much you save so you can invest your savings.”
• “Success is built on a mountain of mistakes. The more mistakes, the higher your mountain.”
• “Circumstances have nothing to do with wealth or poverty.”
• “Everyone has the capacity for genius.”
• “Good habits make you rich, bad habits make you poor.”
• “Happiness is a habit.”
• “Poverty is a habit.”
• “Wishes are not goals. Goals require physical activity.”
• “The only valuable education in life is the education you put to use to add value to the lives of others.”
• “Getting people to willingly do what you want them to do will make you rich.”
• “You only need two or three apostles to help you become rich in life.”
• “I’m rich because I didn’t follow the herd. I was kind of a rebel. I didn’t want to do what everyone else was doing. I wanted to do my own thing and create my own herd.”

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