You might. In fact the characteristics of millionaires probably aren’t what you think. Today’s self-made millionaires are not flashy, don’t advertise their wealth, and aren’t workaholics.
At least that’s the consensus of Thomas J. Stanley’s studies in the book The Millionaire Mind. According to the data Stanley collected, millionaires credit their success to the following five traits.
Do you possess these as well?
Integrity – Being Honest With All People
If you think this trait has nothing to do with wealth, think again.
Millionaires accredit their sense of integrity to reaching the one million dollar mark. And not only that but also keeping their marriages together and keeping a good work life balance.
Discipline – Applying Self Control
The millionaire mind is disciplined.
Instead of using money to buy flashy cars, houses, and clothes the self-made millionaire instead uses their self-discipline to save money.
You’ll also see below that the millionaire mind accredits hard work to their large net worth – something that discipline aided in.
Social Skills – Getting Along with People
“Your net worth is your network.” Apparently this saying holds some truth.
Good social skills are the third most accredited trait to reaching the one million dollar mark. When you’re able to network and get along with others you’ll not only be respected at a higher level but new opportunities will open up to you.
A Supportive Spouse
The balance sheet affluent credit a lot of their success to having a supportive spouse. From personal experience I can tell you how important this is.
I got divorced a couple years ago and never knew relationships could be supportive until meeting my current boyfriend. Now I know what support feels like and I couldn’t have done half the stuff I’ve accomplished in the past year without him.
Another interesting fact is that out of the 100+ millionaire’s interviewed in The Millionaire Mind only two percent are divorced.
It looks like a healthy marriage with a supportive spouse is definitely a top priority if you’re going to meet the millionaire status.
Hard Work – More than Most People
The last trait accredited to success is the willingness to work harder than most other people.
It was noted in the book though, that working harder does not mean working longer. In fact the majority of the millionaires interviewed reported having a very healthy work life balance and that they always made time for friends and family.
Work smart and work hard if you want to get ahead. Go above and beyond what you see your peers doing.
How Do You Rank?
I can confidently say that I hit most of these marks although I’m stronger in some areas than the others.
If you want to have a millionaire mind and break the million dollar net worth then try developing these habits. They’ll not only improve your money situation, they’ll improve your whole life.
Do you have a millionaire mind?
Supportive spouse is very important too, before we had a problem with my husband financially, but thankfully now, we are doing our best not to have an issue when it comes to money. And I am disciplined when it comes to buying unnecessary things.