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One hundred percent of the self-made millionaires in my Rich Habits Study said that they put off things they wanted to do and things they wanted to spend money on in order to build their wealth. Building wealth took priority over fun and enjoyment, at least during their wealth-building years.
This is known as delayed gratification.
Only 48% of the poor individuals in my study said they were engaging in delayed gratification.
The self-made millionaires engaged in delayed gratification because they were convinced that making sacrifices today would benefit them many years into the future. These millionaires were able to muster the discipline to make sacrifices because they had a very clear vision of the ideal, future life they desired – their dream life
And, they were not fatalists, meaning they did not believe they would die before being able to reap the benefits of the sacrifices they were making. This was possible because of the following mindset/habits they possessed:
98% believed fate did not dictate their ability to become wealthy
53% believed they would be financially successful in life
100% believed they were responsible for their financial circumstances
67% said they were optimists
85% believed wealthy people were good, honest, hardworking people
0% believed wealth was accidental
78% said they were frugal
94% did more than their job required
94% did not believe wealthy people were greedy
75% believed wealthy people were charitable. In fact, 72% of the wealthy in my study said they were involved in some charity
94% were healthy due to many years of exercise and healthy eating
79% liked what they did for a living
96% considered themselves disciplined.
