12 Habits of High Net Worth Investors
You don't have to be a millionaire to build these habits.
Hey friends!
Today’s edition of Unfollow the Herd is going to help you become a millionaire over the next 10-20 years.
Wealth starts in the mind before it hits your personal net worth.
Copy, steal, and emulate these habits today to start building wealth for yourself and your family tomorrow.
12 Habits of High Net Worth Investors
1. They Set Goals
"If you aim at nothing, you will hit it every time."
— Zig Ziglar
I’m baffled by how many people don’t set financial goals. Without a clear target to aim for, you won’t build to $1M net worth.
You need clarity around:
What the goal is
What the timeline is
What the target amount is
What you need to do daily/weekly/monthly
You can’t skip goal-setting if you want to build generational wealth.
2. They Own Real Estate
“Real estate investing, even on a very small scale, remains a tried and true means of building an individual's cash flow and wealth.”
― Robert Kiyosaki
Your 9-5 is what helps you earn income. But if you only earn income, you will forever trade your time for money.
To get off the hamster wheel, you have to invest in assets that pay you monthly.
For me and 90% of other high-net-worth individuals — that asset class is real estate.
3. They Build Companies
“The best way to predict the future is to create it.”
— Peter Drucker
There are two scalable ways to earn and grow your net worth to multi-millions:
Investing
Entrepreneurship
If you learn the skill of entrepreneurship and making money, you have the skills to grow your net worth to new heights.
4. They Invest On a Schedule
“You make most of your money in a bear market, you just don’t realize it at the time.”
— Shelby Cullom Davis
Don’t try to time the market. This leaves room for costly mistakes.
Instead, invest on a regular schedule.
And don’t be afraid of bear markets, recessions, and downturns. These times are when real wealth is created. You have to see opportunities when others are fearful.
5. They Pay for Expert Advice
“One of the greatest values of mentors is the ability to see ahead what others cannot see and to help them navigate a course to their destination.”
— John C. Maxwell
Learn how to think like an investor.
Part of this mindset switch is learning how to invest in expert advice.
I surround myself with:
Coaches
Tax professionals
Successful investors
Wealthy entrepreneurs
This is the ultimate hack to increase your net worth.
First, you need to see it as an investment > cost to work with these people.
The ROI potential is 10-100x over 10 years.
6. They Invest In Themselves
“The best investment you can make, is an investment in yourself. The more you learn, the more you'll earn.”
— Warren Buffett
Self-investment is by far the most important.
It beats any:
Stock
Crypto
Even real estate
I’ve written endlessly about different forms of self-investment that can help you level up.
7. They Give > They Ask
“The secret to wealth is simple: Find a way to do more for others than anyone else does. Become more valuable. Do more. Give more. Be more. Serve more.”
— Tony Robbins
You have to be willing to give 100x for every ask you make.
If you can follow this formula in…
Your business
Your marriage
Your friendships
Your personal brand
You can’t lose.
8. They Pay for Mentors and Coaches
"My job is not to be easy on people. My job is to take these great people we have and to push them and make them even better."
— Steve Jobs
I’ll save you some time and show you how mentors have completely changed my life.
It’s the ultimate financial hack:
Find someone who is where you want to be, and get them to mentor you.
9. They Are Endlessly Curious
“Formal education will make you a living; self-education will make you a fortune.”
— Jim Rohn
Learning doesn’t stop after school.
It’s only beginning at that point.
The wealthiest people I know are hyper-curious and constantly learning from:
Books
YouTube
Podcasts
Social media
Stay hungry and curious.
10. They Pay Attention To Their Finances
“Money isn’t everything, but it’s right up there with oxygen.”
— Zig Ziglar
What gets ignored, gets forgotten.
Every single week you need a “money date” in your calendar.
Use this time to:
Review your goals
Review your income
Review your spending
Review your financial plan
Make this a weekly habit.
11. They Talk About Money With Their S.O.
“All good men and women must take responsibility to create legacies that will take the next generation to a level we could only imagine.”
― Jim Rohn
You have to talk about money.
Ignoring is ignorance. It will not help you build wealth. In fact, it will only cause more stress.
Talk about money with your kids.
Talk about money with your friends.
Talk about money in your life partner.
It will change your life and theirs.
12. They Don’t Follow the Herd
You don’t need a college degree.
You don’t need better stock picks.
You don’t need more $$ in a 401(k).
You don’t need to come from wealth.
You don’t need to be a super genius.
You don’t need to follow the herd.
It’s better if you don’t.
Learn to question the traditional path. It’s not one that produces millionaires.
The uncommon path is where you build serious wealth.
Bonus: They Keep More Money
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Great article Marc!