22 Lessons I Learned From My Millionaire Mentor

 1. Choose your Partner Carefully

86% of millionaires are married - Marry someone who is: - Frugal - Mindful about money - Supportive of your money habits Marry OR Choosing business partner choose someone with a winning financial mindset.

2. Embrace Failure Without failure, there cannot be success. Failure: - Builds resilience - Provides answers - Accelerates growth - Sparks opportunity - Makes you stronger - Redirects your goals Failure is a stepping stone toward success.

3. Surround Yourself with Winners Think about the 5 closest people you hang out with. Soon, you'll realize that: - You think the same thoughts - You have the same goals - You offer similar advice People inspire you or they drain you. Choose them carefully.

4. Adopt a Growth Mindset 2 types of mindset: - Fixed - Growth Growth mindset: - Build wealth - Learn new skills - Build relationships Fixed mindset: - I can't do this - I'm going to fail - This will take forever To change your reality, start by changing your mentality.

5. Invest, Don't Just Save Allow compound interest to build your wealth. How to invest: - Invest automatically - Invest in index funds - Avoid higher-risk investments - Choose low-cost investment options There is no such thing as "the perfect time" to invest. Start now.

6. Diversify your Income The average millionaire has 7 income streams. Income streams could include: - Primary job - Spouse's job - Rental income - Interest and dividends - Real estate investment trusts Don't put all your eggs in 1 basket. Diversify your income today.

7. Read Daily 85% of millionaires read 2+ books per month. Books offer advice on: - Personal development - Entrepreneurship - Investments - Business - Family - Life If you want to succeed, you have to read.

8. Aim for Excellence Aim for excellence, not perfection. Perfection can: - Cost you time - Increase anxiety - Starve your creativity - Prevent you from taking risks If you seek perfection, you'll never reach it.

9. Don't Procrastinate Tips to kill procrastination now: - Break down large tasks - Celebrate the small victories - Write down your future goals - Find an accountability partner Use today to build the stepping stone for your future.

10. Find Quality Mentors 93% of millionaires attribute their success to a mentor. Mentors offer you guidance in: - Your financial life - Your personal life - Your professional life Mentors are the ultimate shortcut to success.

11. Use the System in your Favor The wealthy use: - Tax deductions - Tax advantages - Personal liability protection Know how to structure your business:

Proprietorship

LLP

PARTNERSHIP

TRUST

SOCIETY ETC

Build a lasting empire today.

12. Pay Yourself First How to pay yourself first: - Deposit paycheck - Automate investments first - Anything left over goes to bills The process: - Determine how much to invest - Determine investment frequency - Determine where it should be invested Use money to make money.

13. Give Back to your Community 72% of millionaires volunteer 5+ hours every month. Millionaires pay it forward by: - Donating their time - Donating their talent - Donating their treasure A rising tide lifts all boats.

14. Exercise 76% of millionaires exercise 30+ minutes daily. Regular exercise increases: - Focus - Memory - Sleep quality - Physical fitness - Mental concentration A healthy mind lives in a healthy body.

15. Build an Emergency Fund Millionaires are prepared for unexpected expenses. Surprise expenses could include: - A roof replacement - Medical emergencies - A broken car gearbox Avoid high-interest credit cards to pay for emergencies. Use your emergency fund.

16. Be an Early Bird Almost 50% of self-made millionaires wake up 3+ hours before the workday begins. Waking up early can: - Lower stress - Increase positivity - Increase productivity - Improve sleep quality - Improve mental fitness The early bird gets the worm.

17. Stop Comparing "Comparison is the thief of joy." - Theodore Roosevelt Focus on: - Your purpose - Your experience - Owning your feelings - Turning your attention inward The only competition is staring back at you in the mirror.

18. Optimize your Time Time waits for no one. Millionaires optimize their 24 hours by: - Prioritizing their activities - Planning the day in advance - Starting today to build a better tomorrow Time is the ultimate currency.

19. Buy Used Non-Luxury Cars Only 14% of luxury cars are bought by millionaires. Used cars: - Save money - Can last several years - often come with a warranty - Are often already depreciated Most cars are depreciating assets. Don't invest in negative returns.

20. Buy a Forever Home 60% of millionaires live in a house valued at less than $500,000. You don't need: - A mansion - An exclusive community - The biggest house on the block It's not the home you live in that matters. It's the people you live with that matter.

21. Become an Entrepreneur 66% of millionaires own their own business. It will take: - Consistency - Long nights - Dedication - Hard work - Sacrifice The reward will be: - Fulfillment - Freedom - Money - Time Monetize your passion and build a legacy.

22. Curate your Network The No. 1 predictor of your future success is determined by the breadth and depth of your network. Why your network is important: - Support - Opportunities - Lasting relationships - Increases self-confidence Your network is your net worth.

Most people have a misconception of the millionaire life Millionaires are smart with money and won’t waste it even when they have it because of the habits they’ve worked so hard to develop. many people don’t realize how important it is to live below your means, and not spend lavishly to obtain and maintain millionaire status.