7 Millionaire Money Habits (that actually work)
Mar 15, 2025Read time - 3 minutes / Disclaimer
Learning the money habits of millionaires can:
- Grow your income.
- Build your net worth.
- Reduce your money stress.
Unfortunately, finding a millionaire mentor is tough.
Money Advice
Taking advice from people that don't have what you want can lead to:
- Working harder.
- Working longer.
- A delayed retirement.
Yet the desire to escape 9-5 life early continues to grow.
We work 8 hours a day to enjoy 5 hours in the evening.
— Lindsay Stamp (@lindsaystamp3) June 8, 2024
We work 5 days a week to enjoy 2 days on the weekend.
We work 48 weeks a year to enjoy 4 weeks of PTO.
We work 45 years to enjoy 10 years in retirement.
Idk about you but I just simply can’t accept that for my life.
In my 20s I wanted to become a millionaire.
At first it was all about:
- The fancy car.
- The fancy house.
- The fancy clothes.
All that changed when I hit 30.
It was no longer about a fancy car, a fancy house, or fancy clothes.
It became:
- Not having to work 9-5.
- Not having to sit in a cubicle.
- Not having to ask for time off.
Throughout my journey of going from $0 to $1M in my 30s.
I realized "the secret" to money isn't a secret at all.
It's a series of habits.
Habits anyone can copy.
Here's the 7 millionaire money habits I shamelessly copied (you can too):
Let's dive in:
1: Take Advantage Of Compound Interest
Start investing long term.
The stock market has grown 11% per year on average the past 40 years.
What does this mean?
If investing $150 per month into an S&P500 fund the past 40 years:
Investing smaller amounts can turn into larger amounts over long periods of time.
2: Pay Yourself First
Make saving a priority.
Many people "plan to invest" when there's extra money.
The harsh truth—
That day rarely comes.
Instead...
Set up automatic investing from each paycheck.
Start small and increase it as you make more money.
Saving and investing on autopilot helps you reach your money goals faster.
3: Buy Assets Not Liabilities
Buy things that go up in price over the long term.
For example:
- Stock
- Real estate
- Commodities (ie: gold)
Spending more money on assets than liabilities helps you build wealth quickly.
4: Have A Plan For Your Money
Know the 3 sides to money.
They include:
1. The Income Levers
(making money)
2. The Cash Flow Mindset
(managing money)
3. The Net Worth Builders
(multiplying money)
It's often called:
Having a game-plan (aka: a budget) helps you maximize the Wealth Pyramid.
5: Negotiate Everything
Most things in life are negotiable.
Things like:
- Cars
- Rent
- A Salary
Don't be afraid to ask for a better deal.
Asking for a more competitive offer can save you hundreds or thousands.
6: Be Patient With Money
Wealth building takes time.
$1 invested in stock has doubled every 8 years on average since the 1990s.
There's more up years than down.
Stock Market Growth (S&P500) / macrotrends
House prices double every 14 years on average since the 1990s too.
"The big money is not in the buying and the selling...it's in the waiting" - Charlie Munger
7: Retirement Is A Number Not An Age
Investing sooner = Retiring sooner
The earlier you start.
The more time your money has to grow.
Compound interest needs time to work its magic.
Investing is an amazing tool to escape the 9-5 life early (if you want to).
Conclusion
Doing these boring things can get you to the $1M mark.
It just takes time.
Heck, it worked for me...
A cell phone salesman in my 20s, then a banker inside a strip mall in my 30s.
The hardest part is—
Deciding to get started.
Building these habits into your life and stickin' with it as your investments climb from $5k, $50k, $500k+.
I'm rooting for you.
Keep building đź’°
See you next week.
