7 Ways To Think Like A Millionaire


If my kids want better results and learn something new, I teach them to study others that have accomplished what they’re trying to achieve.

It’s really that easy.

My oldest is playing QB for his high school team and has a similar build to Tom Brady (not the arm yet!).  I told him that he should focus on what Brady is best known for… being a “pocket passer” and study his movements under the different defensive schemes.

Making this a daily habit will be one of the keys to his potential success.

My youngest is obsessed with tennis and recommended that he should not only watch the different ways pros move on the court but also some of the local talent. That way he can get to know the local players and ask them how they best approach each match as tennis is such a huge mental sport.

If you’re seeking financial success and to someday become a millionaire, then the first step is by doing what wealthy individuals do.

There’s several books that document in detail what it takes to acquire a wealth mindset such as:

One of the stark differences about wealthy people has to do with HOW they think. If you want to improve in any area of your life, it starts with a mindset shift which leads to developing a millionaire mindset. 

“If you want to change the fruits, you will first have to change the roots. If you want to change the visible, you must first change the invisible.” – T. Harv Eker

Take for example someone that wants to lose weight. It’s NOT until they start thinking differently regarding how their weight is a detriment to their health that they begin shedding pounds.    

If you were to ask people about what it takes to become a wealthy person, most would focus on how to make money. The problem is average people struggle to earn more money each year while millionaires are able to keep generating great wealth. 

Despite what most people think, becoming a millionaire isn’t so much about catching a lucky break or who you know.

It’s about a mindset that anyone can develop.

Here’s 7 ways the average person can start thinking like a millionaire…

How To Think Like A Millionaire

#1 Looks can be deceiving

Authors Thomas J. Stanley and William Danko of the bestselling book Millionaire Next Door, found that those we “think” are millionaires usually aren’t.

One of the main characteristics found after surveying thousands of millionaires is the majority were frugal, followed a budget and lived within their means.

This is totally opposite what we think a millionaire “should” look like, right?

Stanley and Danko found that most millionaires in America:

  • drove used, practical cars
  • focused on hard work with a solid work ethic
  • lived in modest neighborhoods
  • avoided spending money on status symbols

Author Sarah Fallaw of The Next Millionaire Next Door stated, “Spending above your means, spending instead of saving for retirement, spending in anticipation of becoming wealthy makes you a slave to the paycheck, even with a stellar level of income.” 

I’m sure you know people that earn a six-figure income but are still not wealthy.


Simple. Too many of us live our life spending tomorrow’s money entirely dependent on debt. Not a good way to live if you want to build wealth. 

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#2 Focus on the long-term

While the majority of people only think about next weekend, millionaires think long term

They tend to set goals for the future and have developed the discipline of delayed gratification. Their mindset is focused on patience.

For instance, they know that in order to achieve financial independence, big expenses (fancy cars, houses) must be avoided until their goal is met. 

On the other hand, the middle class want instant gratification and don’t think twice about putting their “wants” on a credit card. 

#3 Never stop learning

I know too many doctors and other professionals that think learning stops once they finish school. 

Millionaires know that’s NOT the case.

They understand success is a process and that if a percentage of their income isn’t going toward a financial education then building wealth won’t come easy.

The more you spend on growing financial knowledge and personal development, the more money you’ll eventually make.

From my own experience, reading books is the cheapest and easiest way to increase your financial knowledge.

I can assure you that rich people such as Warren Buffett and Bill Gates have a home library full of books. 

The average millionaire is always learning something new and believe that once you stop learning, you stop living.

Some of my favorite wealth building books are:

#4 Understand the time value of money

After I read Robert Kiyosaki’s CashFlow Quadrant, I realized that I was trading time for money (even though I was self employed).

If I’m not treating patients, no money is coming in.

Now that I’ve begun focusing on real estate investments; I’ve started building multiple income streams.

But for the most part, employees and self employed individuals wake up everyday and trade their time for money.

One of the reasons millionaires are successful people is that they get the time value of money concept which states that money is worth more NOW than it will be later.

This is due to inflation which increases prices over time and decreases your dollar’s spending power.

Millionaires understand that investing in assets that work FOR THEM is the easiest way money should be made (not relying on one earned income source).

#5 Are risk averse

If you watch Shark Tank, you’ll see first hand how entrepreneurs aren’t scared to take on debt if needed to start a business to follow their dreams.

I’m sure they’ve had friends and family members caution them about taking on risk and stick with their day jobs collecting a “safe” paycheck from their employers.

Many of those people are successful and reach millionaire status due to their risk aversion.

That’s the difference between having a scarcity vs abundance mindset

Yes, keeping their day job is the safest option, but most of these Sharks want MORE than wealth’ they want financial freedom.

Poor people focus on lack and will always have a poor mindset unless they seek change.

#6 Embrace change

The majority of the middle class are intimidated and fear change while millionaires view change as a new opportunity.

Confidence is built whenever we learn to welcome change. 

As I look back over my career and as a father, every 4-5 years there’s typically major change that happens.

Once I’ve learned to come to grips with this and prepare, then it helps me build confidence knowing that I can handle whatever life throws my way (for the most part).

#7 Ask themselves empowering questions

A major difference between a millionaire vs the middle class is how millionaires present information to themselves.

While millionaires ask themselves empowering questions, the middle class tend to focus on disempowering ones.

Here’s a few examples:

  • Middle class:I need to make more money. How can I get a raise?”
  • Millionaire:How can I make $1 million a year doing what I love?”

If a failure or tough break occurs, then:

  • Middle class:Why do bad things ALWAYS happen to me?”
  • Millionaire:What can I learn from this situation?”

When I first started investing in real estate, mainly via online crowdfunding, I lost $50,000.

Related article: What I Learned From Losing $50,000

Whenever I tell people this story, they’re amazed that I didn’t quit investing in real estate all together. I’d be lying if I told you that those thoughts didn’t cross my mind.

Actually, I took a year off from investing to dive deep and self-educated myself as I knew others were successfully investing and I could too.

I began asking myself empowering-type questions such as, “What can I do to learn more and AVOID mistakes?”

I firmly believe that the questions you ask yourself determine the results you get in life.

If you don’t think you’re getting enough sleep or have enough time in the day, don’t complain about it, ask “How can I…” type questions. 

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