The wealth that millionaires all over the world control are massive. You won’t imagine the number of zeros in over a hundred-trillion money they have. Specifically, 173 trillion dollars as per Credit Suisse, eight times larger than the entire gross domestic product of the United States, which is at 21 billion dollars.
Unfortunately, about 83.9% of the world’s wealth was owned by the top 10% wealthiest people around the globe. This is how unequal the world we are living in is.
Even though we have reached milestones upon milestones, the vast majority of the world’s population is still living paycheck to paycheck. They are suffering from debts and are barely enjoying the pleasures that life has to offer.
People living below the pyramid only get to indulge themselves with 1.4% of the global wealth. You might hear screams of equality everywhere around the world, but seeing the statics, it would be nearly impossible to achieve. Or even if it does, it might take hundreds or thousands of years to transpire.
A person’s working capacity and willingness are one of the factors that can help them belong to the world’s wealthiest. However, we don’t work on the same level, so we don’t obviously receive the same rewards. Some work harder than others, some work a bit lesser, and some aren’t much interested in working at all. Factors like talent, skill, and so on.
There are claims that luck plays a significant role in getting rich, too. Back in the early 1900s and early 2000, the emergence of various tech companies is monumental, yet only a few of them managed to survive going through the mill.
If you would ask the thriving tech billionaires now, they probably wouldn’t answer that they were smarter or better than others. It was just their ideas perfectly targeted the future of technology or perhaps because they luckily found an investor before the market crash take place (like Amazon did way back).
No one can accurately predict when a crash will happen, nor no one knows what exactly the future of the internet would look like, but to sum up the biggest contributor to success, here’s a quote, “Luck is what happens when preparation meets opportunity.”
What brings good fortune isn’t the luck itself. It is effort, dedication, hard work, and preparation that creates a favoring chance.
Keeping in mind that you don’t need to be a billionaire to experience life’s greatest pleasure is important. It takes a bit lesser than that. But you have to take the right road in order to achieve what you are aiming for.
Many would beg to disagree that there isn’t any shortcut to success, but there is— productive habits!
Productive habits can take you a step close to success and lead you to financial independence without giving you so much hard time. But what’s so endearing in being financially free?
The answer is pretty obvious. By having financial independence, you can have all the time in the world to do the things that you want.
However, it is important to take note that making money just for the sake of making money isn’t a wise move. The process of you getting rich should be a fun, exciting, and meaningful process. Your fire should be fueled by the desire to make the world a better place through your product or service.
It is essential to be as productive as possible because the more productive you are, the more time to spare you would have since you are taking full advantage of every passing hour.
Let’s set aside all these segues and get straight to the point. Here are the 3 habits that you should follow if you are serious about becoming financially independent:
Mental Toughness
Greek Stoic philosopher Epictetus was not lying when he said, “It is not about what happened to you, but rather it is about how you react to it.” Although this might seem a bit vague, no one can probably deny that there’s some truth to it.
Mental toughness is what separates a successful person into a non-successful person. Successful people have the ability to set their minds and do things that will make them successful regardless of how tough the situation is. They don’t easily give out and come out with invalid excuses.
Have you heard of Gladwell’s 10,000-hour rule? It asserts that it takes 10,000 hours to fully master a certain skill and expertise.
On your journey to reaching mastery, it’s quite difficult not to get bored since you’ll be doing the same thing over and over again. You’re eventually going to get bored, tired, and exhausted doing things repeatedly. This is why the people who are most likely to succeed are those with the mental toughness to overcome.
Whatever you do can turn into a habit. If you give up once, you might give up again, then it eventually becomes a habit and so you keep quitting in everything you do.
Mental toughness is a habit. If you train your mind to overpower the difficulties that it battles against, then you will get tougher and tougher as time goes by.
You have to engrave in your mind that it’s not about everything that happens around you, but rather about how you react to it. Life is full of misery and the challenge is to not give up and just keep moving.
Learn how to delegate
Some people don’t believe the famous adage that says, “No man is an island.” But the trust is, without the help of others, one cannot actually go far alone. The time and energy you have every day are only limited, and you cannot chop yourself to do the various task all at once.
Great things are usually achieved by a team, by more than just one person. Let’s look at the success of one of the leading branding companies in the world— Apple.
Steve Jobs was the first one that comes to mind whenever we’re talking about the prominent Apple brand, but it truly wasn’t him, but another person who come up with the idea of a touch screen. And if it wasn’t for the entire Apple development and designer team, Apple wouldn’t be where it is right now.
What we are trying to point out is that you need a team to achieve something big. You can’t make everything on your own, so you need to master the art of delegation. Everything that can be accomplished by someone else should be delegated because you need to focus on the creative part that no one else can do aside from you.
By chance you can delegate the creative part as well, then congratulations! This only means that you have established a business that works truly well even without you. It is the highest level of financial independence.
Being able to accept criticisms
Praises feed up our soul, making us feel good about ourselves. But the problem with praises is that it often does more harm than good. Yes. It gives us a momentarily wonderful feeling, but we usually lower our guards down because of these honors and recognition, thinking that we are good enough.
If you would only receive praises, you won’t be able to know the things you should be working on.
Criticisms are better than praises because this is where growth comes in. It allows us to get to know our flaws better, providing the opportunity to fix them.
