More than 10 million households in the United States have a net worth of $1 million. That doesn’t include any property assets. Although it might seem impossible to reach 7 figures of net worth, it isn’t.
With these habits, it is possible to reach the 7-Figure Club in five years or less.
1) Save Aggressively
Those who are focused on wealth will save about 20% of their salary each year. If you can’t live off 80% right now, don’t worry. Households with incomes of $150,000 or less, but have $1 million in retirement accounts, save an average of just 14%. The average age to start saving is just 25, but anyone can get started today and benefit from investing.
2) Wake Up Early
Half of all self-made millionaires get up at least 3 hours before their day is supposed to start. This early time period offers more opportunities to tackle big-ticket tasks before everyone else gets started with their day.
3) Exercise Each Day
Some self-made millionaires exercise during breaks in their day, like a lunch break. Many use their early morning time to hit the gym. Tim Cook, who is the current CEO of Apple, wakes up at 3:45am to get his workouts in.
4) Thought Comprehension
Today’s successful people organize their thoughts. A journal or diary is an easy way to improve thought comprehension. Writing improves your working memory and reduces stress. It also gives you a chance to look back on past successes or learn from past mistakes.
It takes just 20 minutes of meditation each day to improve personal decision-making skills. The benefits of meditation can become apparent in as little as 4 days. Reductions in anxiety and fatigue come with increases in creativity and mindfulness.
About 9 out of 10 self-made millionaires, on average, spend at least 30 minutes reading every day. This may include self-improvement books, biographies, or historical books. Bill Gates reportedly reads an average of 1 book per week.
By saving as much as you can now, while working to improve yourself, it becomes possible to build the foundation needed to reach the 7-Figure Club. There’s only one question left to ask: what are you waiting for?
Although millions of people visit Brandon's blog each month, his path to success was not easy. Go here to read his incredible story, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors." If you want to send Brandon a quick message, then visit his contact page here.