The Money Podcast The 21 Secret Habits of Millionaires
SPONSOR: Direct Bullion. Download your free Guide to Gold Pensions Now. (plus get a special bonus).CLICK HERE NOW: https://robmoore.directbullion.com
Having interviewed 21 billionaires and hundreds of ultra wealthy individuals, Rob reveals the hidden habits, mindsets, and controversial strategies the super rich use - but would never publicly admit to. From tax avoidance to strategic relationships, these secrets expose the truth about how wealth is really built and protected.
KEY TAKEAWAYS
- Curiosity: Billionaires remain curious, knowing they can learn from anyone. They demonstrate humility through their willingness to ask questions and learn from everyone around them.
- Full Responsibility: Successful people take complete ownership of everything in their life, even when it's not technically their fault. Rather than blaming external factors like lockdowns or recessions, they assume responsibility for adapting and thriving regardless of circumstances.
- Trends and Early Market Movements: Billionaires either identify upward-trending markets at the perfect inflection point or possess the unique ability to create trends themselves. They're rarely first (too early) but position themselves strategically for growth.
- Energy: Consistent energy is crucial, billionaires maintain good energy levels daily, understanding that everything from sales to leadership requires energetic investment.
- Education and Continual Improvement: Wealthy people never stop learning. They view life as a library or playground, constantly seeking knowledge through reading, mentorship, and new experiences.
- Consistency and Persistence: Consistency means continuing when things get boring; persistence means pushing through when things get difficult. Most billionaires have done similar work for decades, refusing to quit.
- Continual Solution to Problems: Billionaires understand that nothing stays fixed forever. They embrace increasingly larger problems, knowing bigger challenges offer greater rewards, while average people avoid problems altogether.
- Goals, Fantasy and Struggle Reality: While setting ambitious goals is important, billionaires recognise goals are just checkpoints. They focus more on the daily struggle and grind required to reach those milestones, understanding each achievement leads to new challenges.
- Partnerships and Relationships: No one becomes a billionaire alone. Success requires strategic partnerships, collaborations, and relationships. The concept of being "self-made" is a myth.
- Sales and Marketing: Billionaires prioritise activities that directly generate revenue. While long-term brand building matters, immediate monetisation comes through sales and marketing, not perfecting logos or business cards.
- Manage Emotions: Successful people experience all human emotions but maintain control over their reactions. They develop stoicism in high pressure situations, making rational decisions rather than emotional ones.
- Sell for 10, Make 2: Maintaining healthy profit margins is essential. Track financial metrics obsessively, understanding that selling more with inadequate margins only accelerates losses.
- Accept Criticism: Billionaires develop thick skin, understanding criticism comes with visibility. They extract valuable feedback while dismissing irrelevant noise, recognising that avoiding all criticism would require doing nothing significant.
- Multiple Streams of Income: Billionaires diversify their income sources. They start with specialisation but expand strategically, creating multiple revenue channels that build their wealth.
- Avoid Taxation: The wealthy minimise tax obligations, they understand that tax is their biggest expense. They leverage legal methods to reduce tax burden, understanding that compounding wealth becomes impossible when surrendering 50-70% to tax.
- Avoid Time Drains with Ruthless Time Management: Billionaires protect their time fiercely, eliminating distractions and focusing intensely on high-value activities.
- Leverage: Wealthy people utilise other people's money, time, and resources to accomplish more with less. They think "who can do this?" rather than "how can I do this?.”
- Learn, Break, Then Make the Rules: The wealth hierarchy begins with learning established rules, progresses to breaking conventional approaches,and culminates in creating entirely new rules. Billionaires literally make the rules.
- Creation vs Consumption: Wealthy people create more than they consume. While the masses consume entertainment, products, and media, billionaires create the companies that produce these items, generating wealth through production rather than spending.
- Energy and Priorities: Billionaires prioritise high value activities, assessing the financial impact of each task. They outsource anything below their income generating value, understanding time is their most precious resource.
- Control Legislation and Policy: Billionaires influence political systems and regulatory frameworks to protect their interests. Through political donations and relationships, billionaires shape the economic environment to their advantage.
BEST MOMENTS
"Every winner was once a beginner and every master was once a disaster. So every millionaire and billionaire knows that, okay, let's say I need to learn a new skill. Well, one day I was a zeroaire and I didn't know it, but I knew I could learn it."
"Your reward for solving a problem is a bigger problem and with every new level is a new devil. So the only way you can continually grow is that everything is your fault, even if it's not."
"The wealthiest people I've met, they're transcending the judgment of all of this. They're not trying to be happy. They know what their emotions are and they're able to leverage those emotions, control them, master them."
"If you are emotionally okay, you haven't got that drive to go do something that is beyond everybody else. Above, not even above average, just hall of fame worthy."
VALUABLE RESOURCES
bit.ly/Robsupporter
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
See omnystudio.com/listener for privacy information.